Consumers these days are often concerned about the stability of financial institutions where they keep their money. There's reason to believe that FNBO Direct, whose parent bank is now under its sixth generation of family ownership, will stick around.
FNBO Direct, the online division of the First National Bank Omaha, is a subsidiary of First National of Nebraska, the largest privately owned banking company in the U.S. With more than 6.6 million customers and $18 billion in managed assets, First National of Nebraska has nearly 4,700 employees in 35 states.
Since the bank was chartered as a local bank in Omaha, Nebraska in 1857, this more than 150-year-old institution has built a reputation for being innovative as well as stable. FNBO Direct and its parent company were among the first to use fuel cell technology as their primary power source and the bank was one of the first to issue credit cards to consumers.
Ratings and awards
FNBO Direct earned the "Best Online Savings Account" accolade from Kiplinger's personal finance magazine in 2008.
Online reviews suggest that FNBO Direct customers sometimes find the bank's website a little slow, but they rave about the high interest rates their accounts earn.
Generally, customers rate FNBO Direct highly for overall satisfaction, customer service, banking rates, fees and charges and online experience.
FNBO Direct has made efforts to build a community of savers with creative social media campaigns such as the Pay Yourself First Challenge, which encourages customers to cultivate good savings habits and share tips for success.
FNBO Direct provides an array of corporate and personal banking services for its online banking customers. Although a money market account and a checking account are not available, FNBO Direct offers an online "bill paying" account that functions just like a standard interest-earning checking account but without paper checks. Customers who rarely use paper checks--or are looking for a backup checking account--are not likely to miss traditional checking-writing.
The high-interest savings account offered by FNBO Direct allows customers to build their savings quickly and to transfer money from one account to another inside and outside the financial institution.
FNBO Direct also offers a certificate of deposit (CD) for a range of time frames from six months to sixty months.
Customers can find a myriad of calculators online at FNBO Direct that can help them make important financial decisions or just figure out how long it will take to become a millionaire.
All deposit accounts with FNBO Direct are FDIC-insured to the maximum allowable amount of $250,000 per depositor. If an individual depositor's funds are nearing the insurance limit, coverage can be maintained by opening an additional joint account at FNBO Direct, or by opening an account at another financial institution.
For those looking for a simple, paperless way to handle their money, FNBO Direct offers competitive rates and continuously available customer service online.