If you’ve been looking for a free online checking account with a high-yield interest rate, the FNBO Direct may be the answer. Here are the rates and fees.
Have you been looking for a new online checking account? Preferably one with a higher-than-average interest rate? Then the FNBO Direct checking account may be the answer.
I’m a bit particular when it comes to my checking accounts. I don’t like paying any monthly fees, regardless of how much money I keep in the account. I want to be able to easily withdraw my money; I want a debit card, and I want to be able to manage my funds (including paying my bills)… oh, and I want all of that for free.
Narrows the list down a bit, huh? Luckily, the FNBO Direct Checking with BillPay offers all of that and more. Here’s what you’ll get with this account:
- A completely free online checking account with zero monthly service fees, no matter how much money is in your account
- Interest earned on your balance – currently 0.65% APY (as of February 28, 2018)
- Minimum opening balance of $1 – yes, one dollar
- Free online banking, bill pay, and account alerts
- Complimentary FNBO Direct Visa® Debit Card
- One overdraft fee forgiveness every 12 months (typically a $33 fee)
- Free incoming wires
- Free stop payments (I’ve paid as much as $35 for this before, so it’s a great bonus in my book!)
- 24/7 access to over 2 million ATMs worldwide (no fees charged by FNBO for using out-of-network ATMs, though the machine operator may charge their own fees)
Being able to automate my bills is one of the biggest perks. The FNBO Direct checking account allows you to not only pay your bills online, but also set up automatic, recurring payments. That way, you’ll never miss another electric bill or charitable donation.
Need to send money to a friend or pay your babysitter? You’ll also have access to the free person-to-person money transfer app, Popmoney®, which is conveniently linked directly to your checking account. It allows you to easily and quickly send (or receive) money via mobile and email.
For me, one of the best perks of this account is the interest rate. While it is subject to change, of course, the APY currently sits at 0.65%. This is significantly higher than many online savings accounts… let alone checking accounts!
The high yield – and absence of any fees – make this account a must-have for anyone looking to earn as much as they possibly can off of their money.
If you’d like to learn more about FNBO Direct checking with BillPay, or are interested in opening an account, check them out online here.
Updated February 28, 2018 and originally published April 7, 2017.