FNBO Direct Bank Ratings – Saving Account

 FNBO offers an online savings account currently at 0.85% (July 2011) APY.  This is just below what other similar online banks offer (1.00%), and with only a $1 minimum deposit with no monthly fees (as well as a next day transfer service), one might be tempted to open an account.  However, there are also numerous exorbitant fees associated with FNBO’s savings account.  For instance, if you were to close a savings account after 11 months for any reason at all expect to get hit with a $50 fee (starting 8/18/11).  It is this along with numerous other fees that make FNBO’s online savings account only average in our eyes.

Savings Account Rating