How to Open FNBO Direct Savings Account

FNBO Direct, the online division of First National Bank of Omaha, is a popular online bank that offers savers a wide range of financial products from high-yield savings account to interest checking account to credit card. Among FNBO’s products, its Online Savings Account is one of the best savings accounts out there. Currently paying an yield of 1.10% APY, FNBO Direct Savings Account will let you earn return of money faster.

I applied for an FNBO Direct Savings account last Thursday, two small trial deposits showed up in my Bank of America checking account on Friday, and after confirming the deposits, I was informed on Saturday that my new account is ready. Yesterday, I enrolled for online access, set up external bank transfers, and initiated first fund transfer from HSBC to FNBO. The whole process took only two days, the shortest among all the online banks I have used so far.


FNBO’s user interface is very simple, no fancy functions but enough to meet my requirements: transfer money and earn interests. In fact, Transfer Funds, as shown above, is the probably the only practical function FNBO offers, besides the regular maintenance services such as a change password and mailing address, etc. After enrolling my account for online access, I was able to set up external links to my accounts at HSBC and IGoBanking and initiated a transfer request. Unlike IGoBanking, which asked me to verify my identity twice and had to mail me my password in a rather lengthy process, FNBO makes everything straightforward. During the enrollment, I was asked to answer three security questions (again) and one personalized sentence that will show up every time before logging into my account.

Currently, it seems that FNBO only offers standard 3-day fund transfer through ACH. As for ACH account transfer limit, FNBO says the daily transfer limit is $25,000, which is pretty high among online banks. Regarding external fund transfer at FNBO:

The first deposit you make to your FNBO Direct account will be subject to a hold. Funds from that deposit will not be available for transfer or withdrawal until after the sixth business day following the day the first deposit is deducted from your funding account. Interest, however, will begin to accrue no later than the business day we receive credit for your deposit (typically, this will be 2-3 business days after the first deposit is deducted from your funding account).

As long as I am not losing any interests, I am fine with the extra holding period which, according to the policy, is only applicable to the first deposit instead of every one.

So far from what I have experienced, FNBO seems to be quite easy to deal with: fast application, easy to use interface, and higher transfer limit. To apply for an account, you will need the following items:

  1. Your Social Security or Tax ID Number.
  2. Your Driver’s License or ID card issued by a state DMV.
  3. Information about any loans or mortgages that you may have to help us confirm your identity.
  4. For instant funding, you will need your current bank account and routing numbers.
  5. If applying for a joint account, you will need the Secondary Applicant’s name, Social Security or Tax ID Number, and Date of Birth.

Open an account

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7 Responses to “How to Open FNBO Direct Savings Account”

  1. John Wilks |  May 21, 2007 at 11:26 pm

    I’m having some trouble creating a FNBO direct account.

    firefox Your Application Timed Out For security, your application has timed out. Please click the button to retrieve your application. If you are unable to retrieve your application, you will need to start over.

    Internet Explorer 7.0.5730.11 same

    Netscape Communicator 7.2 same

    Any ideas, anyone?

  2. Sun |  May 22, 2007 at 12:42 am

    John: Sorry to hear about your trouble with FNBO. Actually, I also used Firefox and didn’t have any problem during the application. Could it be possible that it’s your firewall (if you have one) that’s causing the problem? If the problem happens with every browser as you said, I suspect it could be your computer. The other possibility is the site is having some problems which will probably go away if you try at a different time. Did you start the application already when you got the timeout message or it occurred at the very beginning.

  3. John Wilks |  May 22, 2007 at 1:09 am

    I just went through the entire creation process without trouble. Here’s what I did to fix Firefox. Click on tools, options, advanced, and click CLEAR NOW under the cache option. Works perfectly now.