In this fast-paced world that we are currently living in, the digital world proves to be a very effective space not only for communication, but also in doing day-to-day business transactions. Online banking is steadily gaining popularity for people who are always on the go. This is mainly due to information accessibility, and its commitment to ensure quick turnaround at any time of the day, and at any day of the week. However, before opening an account, here are some vital information about FNBO Direct.
Origin
FNBO Direct is the First National Bank of Omaha’s division that caters the need of individuals who are looking for a high-yield online banking facility. It started its operations in May 2007, and has been steadily acquiring more and more clients since then.
Target Market
FNBO Direct caters to the need of clients who are looking for a hassle-free and a more convenient way to bank. Moreover, it also offers a much higher interest rate than any ordinary savings account due to lower operational expenses associated with managing a bank that is purely online, with no paper and a small manpower requirement.
Services Offered
FNBO Direct clients can set up an online savings account, online bill payment account, certificates of deposit accounts, and college savings accounts. In addition to these services, a credit card facility is also offered to all bank clients.
a. FNBO Direct Online Savings
FNBO Direct does not require clients to maintain a minimum deposit account. Moreover, there are no monthly fees that are charged to them. Account holders may also opt to request for an ATM card that they can be used to withdraw cash in over 849,000 locations worldwide. An FNBO Direct online savings account has an annual percentage yield of 0.85%, which is higher than traditional savings accounts.
b. Online BillPay Account
The FNBO Online BillPay Account may serve as an alternative to a checking account. Instead of doing the tedious task of issuing and monitoring several check payments to merchants and service providers, account holders may opt to set up automatic payments for recurring transactions. Like the FNBO Online Savings Account, no monthly fees are charged to the client, and no minimum balance is required to maintain it.
An additional benefit for Online BillPay Account holders is the free enrollment in MyDeals, which enables them to save while they spend in selected merchant partners.
c. Certificates of Deposit
Numerous types of Certificates of Deposit accounts are currently being offered by FNBO Direct. A minimum amount of $500 may be deposited in varying terms ranging from 6 months to 60 months, with a fixed interest rate depending on the term.
d. College Savings Plan
FNBO Direct’s College Savings Plan enables account holders to easily set aside and save funds for future use, more specifically to be used for the college education of their children. To ensure that regular deposits and contributions are made by the customer, an automatic fund transfer facility may be set up, which would let them make automatic contributions from a specific savings or checking account.
e. Extra Earnings Visa Card
FNBO Direct clients may apply for an Extra Earnings Visa Card which allows them to save while spending. Through this credit card, card holders are entitled to earn rewards points for every purchase. A dollar spent is equivalent to two points for the first 12 billing cycles after opening an account. After 12 billing cycles, each dollar spent gives the card holder one reward point. When the cardholder earns 2,500 points on their credit card account, he may already redeem his points by requesting a $25 deposit to his FNBO Direct online savings account.
In addition to rewards points, the card holders may also avail of special perks and discounts by making purchases in selected merchant partners under the My Deals program.
Conclusion
Online banking is one of the greatest innovations when it comes to banking and eCommerce. By opening online banking accounts, banking is not limited within by the bank’s operating hours. Nowadays, you may access your accounts whenever you wish, as long as there is an available internet connection. Transactions are done quickly and easily — with just a click of the button.
So, what are you waiting for? Open an FNBO Direct account today, and start a hassle-free banking experience.
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