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FNBO Direct 2.25% APY Online Savings Review

FNBO Direct 2.25% APY Online Savings Review

FNBO Direct is offering a nationwide savings account with a 2.25% APY.

This offer is avaialble to all US residents and only requires a minimum of $1 to start. The account has no monthly fees, no mimium requirements to earn the APY, and Popmoney to send/receive your cash using your FNBO Direct accounts.

This is a limited-time promotional offer to lock in the savings rate.

FNBO Direct Savings Account offer details

Account Type: Savings Account

Interest Rate: 2.25% APY

Tiered: No

Minimum Balance to Earn APY: $1

Maximum Balance: $1,000,000

Availability: Nationwide

Opening Deposit: $1D

Monthly Fee: None

Insured: Yes – FDIC.

ACH limits and speeds

FNBO Direct has an ACH pull daily limit of $100K and monthly limit of $500K with no fees.

Their ACH push is $250K daily and monthly is unknown. Pushing also has no fees that I’m aware of.

I couldn’t find anything in particular regarding ACH speeds. But I presume it’s the same as any other standard back with a 3-5 days ACH transaction period.

How to get the 2.25% APY

  1. Sign up using this link.
  2. Open a new account and fund it with at least $1.
  3. Transfer funds into the account and start getting the 2.25% high-yield.

Pros of FNBO

  • No minimum to get the high rate!
  • Popmoney included
  • Online banking
  • No fees or minimum balance requirements
  • You can shut down the account anytime
  • Free ACH push/pull
  • Earn with just $1
  • You can also sign up for high APY checking at FNBO.

Cons of FNBO

  • 2.25% isn’t the best rate possible, but still very decent

Overall thoughts

FNBO Direct is a good savings account for those who want to earn a steady rate without having to worry about monthly transfers and tiers. All cash deposited will earn the 2.25% rate. It’s pretty much set and forget. Plus, you can take your cash out later on with no fees.

What do you think?