FNBO Direct Review: Checking and Savings

FNBO Direct has both a standout checking and high-yield savings account. But its overdraft fees are steep.
Margarette Burnette
By Margarette Burnette 
Edited by Tony Armstrong

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FNBO Direct
  • Savings
  • Checking
  • Banking experience
  • Overdraft fees

Overall institution rating


NerdWallet rating 
The bottom line:

FNBO Direct is the online-only bank division of First National Bank of Omaha. Both its checking and savings accounts have rates well above national averages and carry no monthly fees. Customers also get access to a huge nationwide ATM network. FNBO Direct’s overdraft fee is lower than some banks’, but it can be charged up to four times per day.

Best for: Those who want to avoid monthly fees, earn interest on checking and have free access to a wide network of ATMs, and aren’t likely to overdraft or need in-person services.


  • No monthly fees on checking or savings.
  • 55,000 surcharge-free ATMs.
  • Checking that earns interest.


  • No branches.
  • Average mobile app ratings.
  • Overdraft fees can be charged up to four times per day.

Full review

FNBO Direct Online Savings Account
FNBO Direct Online Savings Account


Member FDIC


 NerdWallet rating 
With $1 min. balance for APY

FNBO Direct's online savings account, with its 3.75% annual percentage yield and no monthly fees, can be a decent place to park your money. The yield is much higher than the national average for a savings account, 0.40% APY, but it’s lower than what some other online savings accounts pay.

The minimum to open is just $1, which is far less than what many banks require.

FNBO Direct Online Checking
FNBO Direct Online Checking


Member FDIC


 NerdWallet rating 
Monthly fee
With $0.01 min. balance for APY

FNBO Direct has an online checking account that earns 0.15% APY on the first penny, though you’ll need at least one dollar to open an account. Many checking accounts don't earn interest, much less this kind of yield. There are no monthly service fees and no minimum balance requirements to avoid a charge or earn money.

In addition, the bank is part of the Allpoint ATM network, which gives customers access to over 55,000 fee-free ATMs nationwide.

The main downside is the lack of branches. Despite being part of a brick-and-mortar bank, FNBO Direct is online only.

Banking experience


NerdWallet rating 

Live customer support by phone is available 24/7, so you can talk to a real person at any time. To view account balances or statements, you can access your account via FNBO Direct's website and mobile apps.

The mobile apps get low to average ratings in the app stores.

To learn more about FNBO Direct’s brick-and-mortar division, read our review of First National Bank.

Overdraft fees


NerdWallet rating 

At $20, FNBO Direct’s overdraft fee is lower than it used to be, but many banks and credit unions have stopped charging for overdrafts at all. FNBO Direct can charge the fee up to four times a day, which could add up to an $80-a-day penalty.

There's no overdraft line of credit or transfer option. The bank offers overdraft fee forgiveness once a year, but other online banks have more ongoing overdraft protection options.


NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.