Where do you keep your money? Are you happy with your bank? I have a variety of savings and investment accounts but my favorite is at FNBO Direct. FNBO Direct is the online arm of the First National Bank of Omaha, which has been around for 150 years. They are consistently one of the top rated online banks for both security and the interest rates they offer. Bankrate.com gives them 4 stars out of 5 in their ‘Safe and Sound’ rating. No wonder Kiplinger's named them the best online bank last year.
I opened my account several years ago when FNBO offered a promotional 6% interest rate on new savings accounts. Ahh, those were the days. Even after the promotion ended they have maintained some of the highest interest rates in the online banking world. Unfortunately with world’s economy in the toilet those rates aren’t very high right now. Still, FNBO beats the competition. Currently ING, another place I keep my money, offers 1.65% on its Orange Savings account. Compare that with FNBO’s 2.15%.
The difference is small but enough for me to stick with FNBO as my main savings account. They may not always offer the highest interest rate, but they are consistently near the top month after month. I’m not interested in rate chasing and moving my money from account to account. I don’t feel such strategies would net me any more than I get with FNBO.
I know many people are worried about where to put their money right now. If you haven’t tried an online savings account because you are concerned about the risk, there are several institutions that are as safe as most brick and mortar banks. FNBO has no minimum balance requirements and no account fees. You can open your account online and link it with an existing checking or savings account. It only takes a few days for the account verification to be completed. Happy Savings.
Thanks for reading. If you enjoyed this post consider subscribing for updates.
Feed: pfblogs.org
PF Blogroll
Posts
5 comments:
Is there a referral program? If so, let me know since I'll give them a whirl. Perhaps you could make something from it. :-D
No, some pf bloggers are affiliates and make money from referrals but I'm not one of them. I'm recommending them solely on the basis of my experience as a customer. I have nothing to gain.
I enjoy my FNBO account but here are my complaints.
1. It's not intuitive to sign up with their system. I had to call customer service to finish the process. Unlike with ING which I found very simple.
2. They don't tell you the rate of interest you are earning by looking at your bank account.
3. They do a hard check on your credit score when you open the account.
With that said, I do enjoy the account itself. Once I got past the hurdle of how it differs from the ING system I found it simple to use. But that first hurdle was a doozy for me.
Good to know! I'm getting 4% at my bank right now until the end of April. I'll check into FNBO when it's up! :)
I might have to give this one a whirl when I get some money around to save.
Post a Comment