First National Bank has a history of doing what's right for our customers and the communities we serve. Founded in 1857, in the spirit of innovation and commitment to customer service, this sixth generation family-owned business has become the largest privately-owned bank holding company in the United States. First National Bank of Omaha (FNBO) is a subsidiary of First National of Nebraska, a multi-state holding company located in the heart of downtown Omaha, with a strong banking heritage that dates back over 150 years. With locations in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas, $20 billion in assets and 5,000 employee associates, we haven't lost sight of the foundation on which our success was built.
- Benefits and services
- Popmoney feature
FNBO Direct is a managed and controlled by the First National Bank of Omaha and acts as the online counterpart for the traditional bank branches and ATM network. The FNBO Direct platform provides customers with an easy way to manage financial accounts in a secure fashion all online. The FNBO Direct service can be accessed through a desktop or compatible mobile device.
Benefits and Services
One of the benefits of opening an online savings account through FNBO Direct is the fact that account owners can reach their savings goals faster than if they bank with more traditional providers. For instance, online savings accounts see an average .95% APY (which is almost nine times higher than traditional savings accounts). Other features that come with the basic online savings account through FNBO Direct include:
- Requirements and Fees: No monthly fees or minimum balance requirements (open for as little as $1)
- Accessibility: Access to financial standing at any time with superior security
- Transfers: Send money to and from accounts with FNBO immediately
- Popmoney: Convenient and secure way to send and receive money using FNBO Direct accounts
Person-to-Person Payments, otherwise known as "Popmoney, is an FNBO Direct exclusive service where users can securely send and receive money without the hassle of writing or depositing checks. Those that enroll and manage their own FNBO Direct account will be able to take advantage of Popmoney and the following services:
- Payments: send mobile and email payments directly from FNBO Direct accounts
- Receive: receive money and deposit directly into account
- Send: no more writing checks or visiting the banks when payment can be sent online
All users need to do to use the Popmoney service is log in to their FNBO Direct account and select the "Transfer Funds" option. This will allow money to be sent to anyone using their email, mobile number or bank information. The recipient will then receive an email or text message notifying them of the transaction. The recipients can then finish the transfer of money by depositing into their online bank.
- One option for credit cards
- Funds holding
One Option for Credit Cards
There is only one option for credit card users through FNBO Direct. They provide the ExtraEarning Visa Credit which does allow frequent users to earn rewards and bonuses (like earning 2 points for every $1 spent). The credit card does come with useful tools and resources, but it is the only credit card users have to choose from. Additionally, users who are looking for loans will not be able to receive the following through FNBO Direct:
- Home loans/mortgages
- Auto loans
While FNBO Direct does boast of high interest rates on basic checking and savings accounts, the annual percentage yield can change at any time without prior notice. It is also important to note that the very first deposit a FNBO Direct user makes will be subject to hold. This money will not be available for transfer or withdrawal until after the tenth business day after the account is opened and funds are received into that specific account. After the initial deposit, recurring deposits will have a hold for 2-3 business days (typically) as the money is transferred. While the deposit wait time for the first deposit is relatively delayed, the subsequent deposit holds are typical wait time seen throughout the banking industry.
The Bottom Line
FNBO Direct has solutions for people in all financial circumstances and can provide free online checking and savings account assistance in an effort to reach financial goals and dreams. Users can pay their bills, watch their money grow, and earn rewards/bonuses along the way. Those that use FNBO Direct can expect the following from the service:
- Variety of accounts can be manage online
- No minimum requirements or fees
- Popmoney accessibility
- High interest rates
- Limited borrowing options