First National Bank of Omaha (FNBO) offers a competitive business checking account (Free Business Checking) with unlimited fee-free transactions and no monthly fee. The account also comes with a free Visa debit card and access to online banking and account alerts.
The bank has analyzed checking, savings accounts, lending products, and credit cards. It provides a wide range of digital business solutions—including payment acceptance through Clover, cash management through Centime, payroll services through Paycor, and streamlined accounts payable (A/P) and accounts receivable (A/R) through PayMaker.
FNBO operates exclusively in Colorado, Illinois, Iowa, Kansas, Nebraska, South Dakota, Texas, and Wyoming. You are required to visit a branch to open an account.
Pros
- No monthly fee
- No opening deposit and required minimum balance
- Unlimited fee-free transactions
- No returned item fees
Cons
- Only operates in eight states
- Application process requires branch visit
- No APY
- $3, plus operator fees, for non-network withdrawals
Features
- Free Visa business debit card
- Online banking and bill pay
- Mobile banking
- Account alerts
- Analyzed checking, savings accounts, money market accounts (MMA), certificates of deposits (CDs), lending products, and credit cards also available
- Business services available, such as merchant services, cash management, A/P and A/R, payroll, and employee benefits
How First National Bank of Omaha Stacks Up With Its Competitors
When First National Bank of Omaha Is a Good Fit
- You want to bank without a monthly fee: There is no monthly service fee for Free Business Checking.
- You seek unlimited fee-free transactions: Unlike most traditional business checking accounts, FNBO’s Free Business Checking has no monthly transaction limit.
- You belong to an industry FNBO provides custom solutions for: FNBO provides comprehensive banking services for agricultural, commercial real estate, family-owned, healthcare, and transportation businesses. You can connect with a banker to create custom solutions, including lending products and business services, which accommodate your specific needs.
When To Choose a First National Bank of Omaha Alternative
- You operate outside FNBO’s service area: FNBO has branches in only eight states: Colorado, Illinois, Iowa, Kansas, Nebraska, South Dakota, Texas, and Wyoming. If nationwide access to in-person banking is a priority, consider Chase. It has approximately 4,700 branches across all 48 mainland states. Our review of Chase business checking can help you select an account that suits you.
- You seek to earn interest on checking deposits: The FNBO Free Business Checking Account does not earn interest. A good alternative would be Bluevine, which pays 2.0% APY on qualifying balances up to $250,000 under its Standard Checking account. Learn about how to qualify for the APY by reading our Bluevine business checking review.
- You want more fee-free ATM access: FNBO charges $3 for cash withdrawals outside the FNBO ATM network. If you want the freedom to use any ATM, choose Novo. The online-only banking solution refunds ATM fees up to $7 each month, including third-party operator fees. For more information, read our review of Novo business checking.
If your small business meets one or more of these scenarios and needs additional recommendations, check out our guides to the:
First National Bank of Omaha Business Checking Overview
First National Bank of Omaha Business Checking Requirements
No specific First National Bank of Omaha business checking requirements are listed on the bank’s website. You are required to visit a branch to open an account, and you might be asked to prepare relevant documents, such as your government ID and documentation related to your business structure.
First National Bank of Omaha Business Checking Features
Visa Business Debit Card
Your business checking account comes with a free Visa business debit card, which can be used for payments worldwide. It is protected under Visa’s Zero Liability Policy.
Business Online Banking
To access FNBO’s online banking services, you need to submit an enrollment form. FNBO will then create an account with your banking information, which can take about three business days. Once you’re enrolled in online banking, you can view your account information through the FNBO website or mobile app.
Online banking lets you do the following:
- View real-time statements, balances, and account activity
- Check transaction history up to 90 days
- Transfer funds and manage payments
- Deposit checks remotely
- Customize account alerts
- Locate branches and ATMs
The FNBO app has an average rating of 4.7 on the App Store[1] (based on approximately 26,000 reviews) and 4.6 on Google Play[2] (based on approximately 11,000 reviews). Users said that the app is improving, and others appreciated the convenience of its simple mobile deposit function, which offers more automation in capturing check images.
However, some raised the issue that the app separates business and personal account access. They said that this system makes it hard for users since it requires different sets of login information. Others also found the app glitchy and mentioned that they received vague app errors.
Account Alerts
You can opt to receive custom account alerts via email or text. These can notify you of the following:
- Payment reminders
- Transaction updates
- Monthly statement availability
- Balance amounts
- Overdraft protection usage
- Approaching credit limits
- Changes in account information
Other First National Bank of Omaha Business Products
The FNBO Analyzed checking account uses custom pricing based on your business needs, balance, and transaction activity. It provides a credit allowance and access to FNBO’s treasury management services.
- The Business Savings account has a minimum opening deposit requirement of $100. There is no monthly service fee or minimum balance requirements, and you get unlimited monthly withdrawals.
- The Business Money Market account provides check-writing privileges and offers unlimited monthly withdrawals with no monthly service fee or minimum balance requirements. Opening this account requires a deposit of $2,500.
- Business CDs have a minimum opening deposit requirement of $500. The shortest available term length is 91 days, while the longest is 12 months.
Related resources:
- What a Business MMA Is & How It Works
- Business MMA vs CD: Which Is Best
FNBO offers the following types of business lending products:
- Small business loans
- Small business lines of credit
- SBA loans
- Acquisition and growth financing
- Business succession financing
- Equipment and fleet financing
Related resources:
- Equipment Financing: Loans vs Leases
- Business Line of Credit & How It Works
- Current SBA Loan Rates
- Evergreen by FNBO Business Edition earns 2% cash back on all purchases. It has no annual fee and offers an introductory APR of 0% on your first six billing cycles. Read our review of the Evergreen by FNBO Business Edition Credit Card for more information.
- The Business Edition Secured Mastercard Credit Card has a $39 annual fee. You can request any credit limit between $2,000 and $100,000, subject to credit approval and the value of your security deposit. Your security deposit also earns interest. Check out our First National Bank of Omaha Business Edition Secured Mastercard review to learn more.
- Merchant services: FNBO offers merchant services and payment acceptance solutions through Clover. Our Clover POS review provides details about the platform.
- PayMaker: FNBO’s payables and receivables solution, called PayMaker, streamlines the process of sending and receiving payments. You can choose between a free plan or a paid plan with accounting software integration.
- Centime: This cloud-based cash management software helps you monitor and analyze cash flow, send and receive payments, and access working capital.
- Payroll services: Through a platform called Paycor, FNBO provides payroll, human resources (HR), timekeeping, and reporting assistance. Read our review of Paycor to learn more about how the solution works.
- Employee benefits: FNBO offers employee benefit programs, including financial wellness programs and banking benefits.
FNBO bankers can offer lending solutions and business services that accommodate your business needs. They have specialized knowledge and experience in the following types of businesses:
- Agriculture
- Commercial real estate (CRE)
- Family-owned businesses
- Healthcare
- Transportation
First National Bank of Omaha Business Checking Reviews from Users
Users who wrote a First National Bank of Omaha Business Checking review left mixed feedback. One of the common complaints shared by reviewers is the slow processing of transactions, which caused payment delays and led to overdraft fees. Others mentioned that the fraud detection system of the bank is weak. One even reported a fraud incident, where they claimed that the bank did not refund the money deducted from the account.
In terms of customer service satisfaction, some clients appreciated the support they received from FNBO. They said that the staff was helpful, courteous, and friendly. Meanwhile, others had far less rewarding interactions. One noted that there was no sense of urgency when it came to serving customers, whether online, in person, or through the call center.
Here’s how the bank scored on third-party sites:
- WalletHub[3]: 3.2 out of 5 based on about 70 reviews
- Trustpilot[4]: 1.8 out of 5 based on around 30 reviews
Frequently Asked Questions (FAQs)
The largest bank in Omaha is First National Bank of Omaha.
Based on the bank’s filed call report in December 2023, it has approximately $31.1 billion in assets.
Yes. First National Bank of Omaha’s deposit accounts are FDIC-insured up to the standard $250,000 per depositor and ownership category.
Bottom Line
With unlimited transactions and no monthly fee, FNBO’s business checking account makes banking affordable regardless of your monthly transaction volume. You also gain access to a wide range of business tools, including cash management software, merchant services, people management tools, and streamlined accounts payable and receivable.
User review references:
