FNBO Direct Review – High Yield Savings Account
Posted under [ Savings ] on April 30, 20077 Comments
Bank rates may be out of date. Please check bank websites for current rates.
I recently came across FNBO Direct via a banner ad on Bankrate.com. It looks like they are jumping into the high yield savings account/high cd rates arena with a 5.25% APY Savings Account. Now, 5.25% isn’t necessarily the best rate but it’s high enough to be competitive, and there’s only a $1 minimum balance. Here’s some account information:
- $1 minimum deposit
- No monthly fees
- No minimum balances
- Allows 3 external account links
- Limited to six withdrawals per month
- Deposits start accruing interest when transfer is completed
- Interest is calculated daily and is compounded and credited monthly
- If the account is closed no interest is forfeited
- No checks, ATM can be requested but $2.50 fee
- Routing Number: 104000016
FNBO Direct is part of First National Bank, which is FDIC Insured. Because FNBO Direct is relatively new, I couldn’t find any customer reviews of the bank, but if you happen to find one I’d appreciate a comment.
2.25% APY CD at Ally Bank (7/2/09)
1.76% APY Savings at WTDirect
5% Cashback Rewards with Discover More 
7 Comments on “FNBO Direct Review – High Yield Savings Account”
THanks for the post!
FNBO is actually nowhere near new. it’s been around since nebraska has been around. FNBO direct itself however did just go live in november.
ah, thanks for the tip.
If you value your privacy I would not go with FNBO. Here is an excerpt from their privacy policy.
What personal information can we disclose to nonaffiliated third parties?
We may disclose personal information about you to nonaffiliated third parties as permitted by law. This may include all of the personal information we collect about you. For example, we may disclose information to payment processors, check printing companies, and appraisal companies to complete transactions that you request.
We may disclose all of the personal information we collect, as described above, to companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements. These nonaffiliated third parties are responsible for treating your personal information as confidential.
6% is tempting but I have to say no thanks.