Milli (FNBO)
Milli (FNBO) Milli Savings
By Alex Compton · Last verified
FNBO's app-only bank that paid 5.25% — and then vanished overnight in 2024
Insurance: Was FDIC insured through First National Bank of Omaha; remaining balances were returned to customers by check
Account Terms History
A dated record of APY, fees and opening requirements. New changes append to this table; prior terms remain visible.
| Observed | APY / yield | Monthly fee | Minimum | Evidence |
|---|---|---|---|---|
| 2026-11-02 | Discontinued — Milli shut down November 15, 2024 | N/A (product discontinued) | Closed — no longer accepting customers | FNBO online banking, checked November 2, 2026 →Freshness-rotation reconfirmation: industry coverage (FinTech Futures, Banking Dive, eMarketer) and FNBO's own Milli page still confirm the November 15, 2024 shutdown. No change. |
| 2026-10-12 | Discontinued — Milli shut down November 15, 2024 | N/A (product discontinued) | Closed — no longer accepting customers | FNBO online banking (Milli's former parent bank) →Reconfirmed the product remains closed: the milli.bank domain no longer resolves and the .bank registry returns no registration, and FNBO's site offers no Milli product |
| 2026-06-11 | Discontinued — Milli shut down November 15, 2024 | N/A (product discontinued) | Closed — no longer accepting customers | Archive record · no attached snapshotLegacy snapshot before event-level evidence attachments |
Primary-source verification log
Append-only evidence ledger- confirmed
Product remains discontinued: milli.bank no longer resolves and has no .bank registration; FNBO offers no Milli product
FNBO online banking (Milli's former parent bank) →
Features
- ▸Mobile-only savings app from First National Bank of Omaha, launched 2021
- ▸Paid up to 5.25% APY at its peak — a genuine rate leader
- ▸Jars (sub-account goals), round-ups, and automatic savings tools
- ▸FNBO discontinued Milli effective November 15, 2024 with about two months' notice
- ▸Closing balances plus accrued interest were mailed to customers as checks
- ▸FNBO's own direct savings products remain available but at far lower rates
Pros
- +Historically one of the best rates ever offered by a traditional bank's digital arm
- +Customers were made whole at shutdown with balances plus interest
Cons
- −Shut down entirely — you cannot open or hold a Milli account
- −Abrupt wind-down stranded customers mid-rate-cycle and forced re-shopping
- −A cautionary tale about building a savings strategy on subsidized fintech side projects
Our Take
Milli is listed here as a tombstone: FNBO's experiment paid a market-leading 5.25% right up until the bank pulled the plug in November 2024. Nobody lost a dollar, but everyone lost the rate. The lesson for rate-chasers is to favor products tied to a bank's core funding strategy — Openbank, EverBank, Pibank — over side-project apps a parent bank can discontinue by memo.
Best for: No one — discontinued; see Pibank or EverBank for current rate leaders
Open at Milli (FNBO) →Last verified 2026-11-02
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