FNBO Direct has the Best Online Savings Account

According to a recent article in Kiplinger’s Personal Finance, the online arm of the First National Bank of Omaha, known as FNBO Direct, offers the best high yield online savings account. Here’s their synopsis:

Earn 3.50% on your FDIC-insured savings at FNBO Direct. You pay just $1 to open an account with no maintenance fees and no minimum-balance requirements. You can link the account to as many as three others, including FNBO’s bill-payment account. Use electronic transfers to move your funds and your ATM card to withdraw cash.

A couple of notes on this… First off, you don’t technically pay a dollar to open your account. Rather, you have to deposit a minimum of one dollar, though there’s no minimum once the account has been established. Second, that interest rate is a bit out of date. While they’re always near the top of the heap, you should click through to see what they’re currently offering.

Anyway, as you might recall, we opened an FNBO Direct account a few months ago, and we’ve been very happy with it. The signup process is a snap, the online interface is very clean and streamlined, and you even get an ATM card for accessing your cash in a pinch. What’s not to love?

8 Responses to “FNBO Direct has the Best Online Savings Account”

  1. Anonymous

    Please get me to FNBO Pmt. Processing.

    Looking for info on transaction 0009137479090801 and many more showing on our company checking account.

    We have not been able to contact your agent/rep in over a year. Most recent message is voice mail not set up yet.

    There seems to be excessive charges by your firm, direct to our account, without our knowledge of switching from MSI, until closer srutiny of billing.

    Please contact me @ Cell (814) 657-4004, Office (814) 677-6938 Contact Jen, (814) 677-3700 Don.

  2. Anonymous

    I have just visited the FNBO site and the direct on-line interest rate is currently 2.40 % APY. Also, I have invested in a number of direct on-line accounts in the last few years and few are offering attractive interest rates.

    Date: 02/25/2009

  3. Tim: ING Direct is a great bank, but their interest rate consistently lags behind that of other online banks. I don’t have any experience with UFB. And yes, you will earn interest every month, just like a “regular” brick and mortar bank.

  4. Anonymous

    ING Direct is sitting at 2.75% right now, so maybe FNBO problems are worth the hassle?

    They can be slow to get your money out (2 business days), but they are very clear on when things will happen.

  5. Anonymous

    I HATE FNBO Direct and am switching back to ING Direct as soon as possible. The sign-up process is too slow; they don’t communicate when payments/transfers will take effect; and the ATM cards charge HUGE fees. The extra half percentage in earned interest is not worth the hassle!

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