Shandra Christianson, marketing manager, and John Reuter, retail marketing director, discuss FNBO’s no-fee, free checking accounts. “Removing overdraft fees was the next logical piece of that puzzle,” Reuter said.
As financial pressures and inflation are rising, consumer attention has shifted to managing expenses and saving money. From subscription services to cellphone bills, consumers are examining monthly spending and looking for ways to reduce unnecessary expenses.
One place consumers may look is their banking relationship and fees they may be incurring with their checking account. Excess fees can be easily avoided by choosing the right bank.
FNBO (First National Bank of Omaha) is a leader in this space and offers a free checking account for consumers with no fees, no minimums and no overdraft penalties.
When comparing checking accounts offered at local banks and credit unions, you will discover not every “free checking” account is the same. FNBO offers a checking account service that is genuinely fee-free — really no fees, period. Free checking accounts have been available through FNBO since 2012, with the added benefit of eliminating overdraft fees last year.
At a local FNBO branch, Shandra Christianson and John Reuter speak with Mayra, a personal banker, about FNBO’s free checking accounts, which eliminated overdraft fees.
“We believe it is the right thing to do,” said John Reuter, retail marketing director at FNBO. “We don’t encourage customers to overdraw their personal accounts, but we do understand that unexpected situations come up and we want to provide our customers with options.”
Shandra Christianson and John Reuter discuss the importance of FNBO’s connection to its customers. “Banking relationships should be focused on building trust with our customers,” said Reuter.
This perspective reflects FNBO’s overall mission to support its customers on their path to financial wellness. In nearly every case, charging overdraft fees simply makes situations worse and disproportionately affects customers who can least afford them. The Consumer Financial Protection Bureau reports that 70% of overdraft fees are charged to customers with an average account balance between $237 and $439.
“We were one of the first banks in our area to launch free checking in 2012, and we work every day to ensure that we improve that product and add value to our customers’ banking needs,” said Reuter. “Removing overdraft fees was the next logical piece of that puzzle.”
The bank was recently honored by Money magazine as the best bank in the Midwest in the category of “Best Fees.”
“Banking relationships should be focused on building trust with our customers,” said Reuter. “We want to provide value to our customers by understanding their needs, and building that trust often starts with a truly free checking product at FNBO.”
FNBO strives to support its customers on their path to financial wellness, which is supported by the bank’s free checking with no fees or minimums.
FNBO is among a rare group of banks that have done away with fees ahead of potential government regulations. The Associated Press reported in January that 91% of banks still have an overdraft fee structure, with the average penalty being $26.
Have you examined your banking relationship lately? Free checking doesn’t always mean no fees. It’s time for you to make the switch to truly free checking! Learn more at fnbo.com.
