FNBO Direct Review: Cutting-Edge Accounts, 150-Year History

FNBO Direct, the online division of the First National Bank Omaha, offers a range of deposit accounts with competitive interest rates. Find out more about them.
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Some consumers may assume that direct banks — a term for financial institutions that exist primarily online — are new and inexperienced additions to the banking world. But with some direct banks, such as FNBO Direct, the online-only operation is simply a division of a financial institution that’s been in business for decades.

Despite its cutting-edge offerings in online deposit accounts, FNBO Direct is part of a 150-year-old privately held bank. First National Bank Omaha, the parent company of FNBO, is a subsidiary of First National of Nebraska, which is currently the largest privately owned banking company in the U.S. First National of Nebraska has approximately 5,000 employees and oversees $19 billion in managed assets.

Traditional banking meets new banking

First National of Nebraska, now under its sixth generation of family ownership, says it embraces both tradition and innovation as part of its corporate culture. It was one of the first banks to offer credit cards to its customers and one of the first to use fuel cell technology as its primary power source. Bauer Financial gives First National Bank Omaha a five-star “superior rating” for financial stability — a reassuring sign for those who worry that a direct bank like FNBO isn’t as secure as a traditional brick-and-mortar institution.

FNBO Direct offers you 24-hour access to your funds through its online banking system. FNBO Direct customers can use Popmoney to send and receive money from friends and family with only their mobile phone number or email address, as well as to make deposits and pay bills. For consumers who prefer to use multiple accounts to meet savings goals, these accounts are easily monitored through FNBO’s website.

FNBO Direct deposit accounts

If you are interested in opening a certificate of deposit (CD), you can open one with FNBO Direct with as little as $500. Other deposit accounts, including the FNBO Direct Savings Account and online bill pay account, can be opened with as little as $1. No monthly maintenance fees or minimum balances are required to earn interest. CDs are available with terms from 6 to 60 months.

If you open an FNBO Direct Savings Account, you can transfer funds inside and outside the bank or use Popmoney for deposits. You can also receive an FNBO Direct Visa Check Card that functions as an ATM card and debit card that’s tied to your savings and bill pay accounts.

FDIC backing

Before you open a deposit account with any financial institution, you should check for FDIC insurance to make sure your funds are fully protected. All deposit accounts with FNBO Direct are fully insured to the maximum limit of $250,000 per depositor.

For the latest on FNBO’s interest rates and offerings, please see the tables below.

About Author
Michele Lerner
Michele Lerner is an expert in personal finance and real estate, bringing seasoned knowledge to the table. Her book, “HOMEBUYING: Tough Times, First Time, Any Time,” is a testament to her deep understanding of the housing market and financial intricacies. Michele’s numerous contributions span across platforms that include MoneyRates, The Washington Times, and National Real Estate Investor magazine, solidifying her reputation as a trusted authority in real estate investments and banking trends. She offers tremendous insight for consumers navigating the complexities of real estate and finance.