FNBO Direct Review - High Yield Savings Account
By Best Bank Rates | April 30, 2007 | Savings
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.
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May 3rd, 2007 at 9:22 am
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May 5th, 2007 at 10:03 pm
THanks for the post!
May 7th, 2007 at 4:36 pm
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.
May 9th, 2007 at 11:54 am
ah, thanks for the tip.
May 29th, 2007 at 5:07 pm
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.
December 11th, 2007 at 8:36 am
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