FNBO Direct is the online arm of the First National Bank of Omaha, a Nebraska-based institution that's been around more than 160 years. FNBO Direct offers checking and savings accounts online.
High-yield savings offer zero risk
As long as you open a savings account at a legitimate bank that is FDIC-insured, "there is zero risk of capital loss," says Gordon Achtermann, a Virginia-based certified financial planner.
Deposits at FNBO Direct are FDIC insured to the maximum allowed by law. Funds in First National Bank of Omaha and FNBO Direct accounts will be summed for purposes of insurance coverage.
Here are the best online savings account interest rates
How to Close an FNBO Direct Savings Account
FNBO
| Acronym | Definition |
|---|---|
| FNBO | First National Bank of Omaha |
How much interest can you earn on $1,000? If you're able to put away a bigger chunk of money, you'll earn more interest. Save $1,000 for a year at 0.01% APY, and you'll end up with $1,000.10. If you put the same $1,000 in a high-yield savings account, you could earn about $5 after a year.
In short, MMAs might be a better option, depending on the rate, if the goal is to park some cash for a short period, or if you don't want to actively manage your savings. MMAs provide access to your money when you need it, pay a higher rate than savings accounts while requiring a minimum amount of effort on your part.
Online transfers between your physical checking account and your online savings account take a few days. So if you need money immediately, you may be out of luck. You can't withdraw money from an ATM or at a physical branch unlike accounts held at brick and mortar banks.
Why We Support Local | First National Bank of Omaha.
FNBO Direct is an online-only bank that launched in 2007. The bank is part of the First National Bank of Omaha, which has been around for more than 160 years.
Please find below credit cards offered by First National Bank of Omaha.
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