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Interest Rate, Yield, and Account Features
Last Update: June 9, 2008
FNBO Direct started off on shaky ground by sending customers email requiring them to provide extra personal information to the bank or their accounts would be closed. The emails were sent in error, but customers lost a lot of confidence in the abilities of FNBO Direct.
However, FNBO Direct continued to improve customer service and product offerings in an effort to meet their goal of becoming a world-class online bank. Customers who stuck around have been well rewarded for doing so.
| | Balance | APY | Interest Rate | $1.00+ | 3.50% | 3.44% |
| www.fnbodirect.com
(877) 370-3707
>> Reader Reviews |
Minimum Deposit
$1 | Monthly Fee
None | Minimum Balance
$1 | Compounding
Daily |
The Online Saving Account from FNBO Direct (an online savings offer from First National Bank of Omaha) is a "pure" online savings account that offers high yields with no minimums and no fees.
Yield is earned on the entire balance on deposit so there is no need to worry about having enough money in the account to earn the highest rate.
Like other online savings accounts, you will link your FNBO Direct account to your current checking account to make deposits and withdrawals. You can link up to three external accounts. However, if you prefer other options, you can wire transfer funds in and out of the Online Savings Account as well as deposit funds by direct deposit and mail.
An ATM card is also available with an FNBO Direct account, but you will pay for the convenience. Each ATM withdrawal will be assessed a charge of $2.50 and a balance inquiry will run you $1.00. You can withdraw up to $1,000 each day all at once or in increments of five separate transactions. ATM cards can be used at any PLUS networks.
The first deposit you make to your FNBO Direct account will be subject to a hold. Funds from that deposit will not be available for transfer or withdrawal until after the sixth business day following the day the first deposit is deducted from your funding account.
Interest begins to accrue no later than the business day your credit for your deposit is received. Interest is calculated daily and is compounded and credited monthly.
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