FNBO Direct Review: Online Bank With High Yields and Low Fees

4.1

GBR RATING

GOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Start saving with no minimum deposit and enjoy a high-yield account designed to grow your money effortlessly.

FNBO Direct brings you the convenience of online banking paired with standout features like no monthly fees, no minimum balance requirements and competitive savings options -- making it the perfect choice for digital-savvy savers.

FNBO Direct is the online-only division of First National Bank of Omaha, designed for those who value simplicity and savings. By focusing on low fees and high-yield options, FNBO Direct offers a streamlined experience that prioritizes customer value.

While it doesn’t have the wide array of products found at traditional banks, it excels in delivering what matters most to savers.

FNBO Direct Checking Accounts

FNBO Direct offers several checking account options designed to fit different banking needs, from everyday spending to higher-balance accounts. All options focus on minimizing fees and keeping money management straightforward, with digital access for day-to-day banking.

Free Checking Account

This account covers the basics without charging you for access to your own money. There are no monthly service fees, no minimum deposit to open, and no balance requirements to maintain.

• No monthly service fee
• No minimum opening deposit
• No minimum balance requirement

Premier Checking Account

Designed for customers who maintain higher balances, Premier Checking lets you earn interest while unlocking additional relationship benefits. The monthly fee is waived when you keep an average daily balance of $15,000 across qualifying accounts.

• Earns interest on balances
• No monthly fee with a $15,000 average daily balance
• Enhanced FNBO relationship benefits

Access Debit Account

A more controlled option for everyday spending, the Access Debit Account eliminates overdraft fees entirely, making it a solid choice for budgeting or money management.

• No overdraft fees
• No minimum opening deposit
• No minimum balance requirement

4.8

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

FNBO Direct Savings Account

Start Banking

Best For

Money Market Accounts

Mobile App

Online Banking

Great APYs

Low Monthly Fees

Multiple Checking Options

FNBO Direct offers checking accounts designed for different needs, from basic fee-free spending to higher-balance accounts that earn interest and unlock added benefits.

Fees

None

APY

N/A

Min Opening

$0

Pros

• $0 minimum to open select checking accounts
• No monthly fees on Free Checking and Access Debit
• Interest-earning option for higher balances
• No overdraft fees with Access Debit
• Easy online and mobile banking

Cons

• High balance required to waive Premier Checking fees
• Limited rewards or bonus features
• Online-first setup may not suit branch-focused customers

Quick Take

FNBO Direct’s checking accounts are best for people who want straightforward, low-fee banking without the extras. If you value no-minimum accounts and simple digital access, it’s a solid choice — but customers looking for rewards or in-branch perks may want to look elsewhere.

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FNBO Direct Savings Accounts

The FNBO Direct Online Savings account has a high APY and no fees. This savings account has digital wallet and mobile capabilities, and there’s only a $1 minimum to open. The APY is . Interest is compounded daily and credited monthly to help you build savings even faster.

• No monthly fees.
• Competitive interest rate.
• Low minimum opening deposit.
• No physical branches.

FNBO Direct Savings Account

Start Banking

Best For

Money Market Accounts

Mobile App

Online Banking

Great APYs

Low Monthly Fees

No Maintenance Fees

FNBO Direct’s Online Savings Account combines convenience with competitive rates. With no monthly fees and just $1 needed to open, it’s an accessible way to grow your savings entirely online.

Fees

$15 for domestic outgoing wire transfers

APY

Min Opening

$1

Pros

• Only $1 to open the account
• FDIC insured
• APY is competitive

Cons

• No physical access to banks
• Online bank only so cash deposits are difficult
• Potential transaction delay

Quick Take

The FNBO Direct Savings account offers a great APY and is a perfect fit for those who want 24/7 online banking access without the need to conduct transactions in person.

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FNBO Direct CD Accounts

FNBO’s CD accounts are designed for savers who want predictable growth and fixed returns. You can choose from a range of term lengths, from short-term options to multi-year CDs, and lock in a rate for the duration of your term. A $500 minimum deposit is required to open a CD, making it a straightforward option for customers looking to set aside money without market risk.

• Fixed rates for steady, predictable earnings
• Multiple term lengths available
• $500 minimum opening deposit
• FDIC-insured deposits with automatic renewal at maturity

3.1

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

FNBO Direct Money Market Account

Start Banking

Best For

Money Market Accounts

Mobile App

Online Banking

Great APYs

Low Monthly Fees

Low $500 Minimum to Open

FNBO’s CD accounts are built for savers who want steady, predictable returns. With a range of term lengths and fixed rates, they’re a simple way to grow your money without taking on market risk.

Fees

None

APY

Up to

Min Opening

$500

Pros

• Fixed rates for predictable earnings
• Multiple term lengths to choose from
• FDIC-insured deposits
• Automatic renewal at maturity

Cons

• $500 minimum deposit to open
• Funds are locked in until maturity
• Early withdrawals may trigger penalties

Why We Like FNBO Direct

FNBO Direct’s Certificates of Deposit (CDs) let you earn a fixed rate of return over terms ranging from 91 days to 5 years, with interest compounded daily. A $500 minimum deposit is required to open a CD, making it a straightforward option for savers who want predictable growth without ongoing fees.

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FNBO Direct Money Market Accounts

FNBO Direct Online Money Market Account offers up to APY and doesn’t require a minimum deposit. 

• No monthly maintenance fees
• Easy to access your money 24/7
• Six free withdrawals per month

3.5

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

FNBO Direct Money Market Account

Start Banking

Best For

Money Market Accounts

Mobile App

Online Banking

Great APYs

Low Monthly Fees

No Minimum Deposit Required

FNBO Direct’s Online Money Market Account offers tiered rates and easy 24/7 access to your money.

Fees

$5 for each withdrawal beyond six per month

APY

Up to

Min Opening

$0

Pros

• High APY – up to
• No monthly maintenance fee
• No minimum deposit

Cons

• No physical access
• No ability to conduct in-person transactions 

Why We Like FNBO Direct

FNBO Direct’s Online Money Market Account offers a tiered APY up to , depending on the account balance. The account features no monthly service fees or minimum deposit requirement, making it accessible for various savers.

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Banking Experience

Great rates are a significant part of FNBO Direct’s appeal, but a quality experience is essential, too. 

Mobile App

Online banks offer unique benefits that give them an edge over traditional banks. Fees are typically lower and the potential to earn higher yields is more likely. However, you give up local branches.

FNBO Direct offers a mobile app to compensate for the lack of physical bank branches. Nearly anything you could do with a teller can be done through the app. You’ll be able to: 

• View and manage your accounts.
• Switch your debit and credit cards on and off.
• Set up notifications on account activity and spending.

Customer Service

FNBO Direct customer service reps are available 24/7 by phone at 877-370-3707. Customers can also contact the bank by email and postal mail. However, you can get help with many questions online at the Help Center, which has well-organized FAQs with detailed information about bank products, services, and policies.

Security

FNBO Direct employs a robust security strategy to safeguard your money and privacy. In addition to adhering to advanced security standards and implementing layered security measures such as firewalls, email security and antivirus, FNBO Direct restricts access to information and systems and works to stay ahead of hackers.

Comparable Banking Options

FNBO Direct isn’t the only online banking option — competitors like Ally Bank, Axos Bank and Capital One 360 offer different features and benefits.

FNBO Direct vs. Ally Bank

Ally Bank offers three types of CDs — High Yield, Raise Your Rate and No Penalty — giving it an edge over FNBO Direct, which does not offer CDs. Ally Bank’s Interest Checking Account offers a flat APY for average daily balances of less than $15,000. You need to have at least $15,000 in the account to get the higher APY rate. 

FNBO Direct vs. Axos Bank

Axos Bank’s High Yield Savings account provides an APY of up to for balances up to $24,999 and has no monthly fees or balance requirements. Both banks offer user-friendly platforms, but Axos Bank has a wider range of account options, including multiple checking accounts. 

FNBO Direct vs. Capital One

Capital One may be a better option for customers who want the benefits of online banking and the flexibility of visiting a physical branch office, which FNBO doesn’t offer.  

Although Capital One’s customer service hours are extensive — 8 a.m. to 11 p.m., seven days a week — they aren’t 24/7 like FNBO Direct.

Final Take

FNBO Direct’s product lineup isn’t as deep as other banks, but it offers a very attractive savings account options. If you’re comfortable banking on your computer or in the palm of your hand, FNBO Direct can give you a better return on your money than most other banks.

John Csiszar, Cynthia Bowman and Daria Uhlig contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 29, 2024.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

To determine the Best Money Market Accounts of 2025, GOBankingRates analyzed the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) APY on the money market account; (5) the minimum balance needed to earn the APY; (6) monthly money market fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); and (7) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, and factor (4) was weighed 4 times. All products and offerings had to be available as of Dec. 29, 2025, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 29 2025.

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