UFB Direct

Deposits held and insured by BofI Federal Bank

Overview / Commentary
877-472-9200
4350 La Jolla Village Drive,
San Diego, CA 92122
Deposits held and insured by BofI Federal Bank

UFB Direct, a DepositAccounts.com advertiser, serves customers nationwide who are looking for a way to get higher savings rates and lower fees on FDIC insured products by leveraging their Efficient Banking Platform ™. Skip the long lines at the branch, skip the traffic, do all of your banking by Internet, by telephone, and by mail – it saves the Bank money and those savings are passed on to you. In the end, you get one of the highest savings rates in the country, lower fees, better benefits, and you never have to go into a branch again!

Related Posts

UFB Direct Cuts Savings And MM Rates From 1.51% To 1.35% - 6/9/2020

If Nationwide slashes its rates, then UFB obviously will too, since they both use Axos for their banking platforms. With these rate cuts, UFB is now paying slightly more than Nationwide is.

UFB Lowers To 1.51% From 1.61% - 5/27/2020

Lowered again 1 week later

UFB Lowers Rates. - 5/19/2020

UFB lowers Money Market and Savings rates to 1.61% APY from 1.7% APY.

View all posts from:

9/12/17 - UFB Direct Boosts Money Market Savings
9/7/17 - UFB Direct Raises Money Market Savings Rate To 1.41% APY
6/5/17 - Saving Account Up To 1.3% APY
5/3/17 - UFB Direct Adds New Premium Savings Account
1/29/16 - UFB Direct Dramatically Raises Rate On UFB Savings Account
1/29/16 - UFB Direct Savings 1.20%
5/20/15 - UFB Direct Cuts Savings Account Rate To 0.70%
3/16/15 - UFB Direct Cuts Savings Account Rate To 0.95%
3/2/15 - UFB Direct Cuts Top Savings Account Rate
10/9/14 - New High Savings Account Rate at UFB Direct
4/26/13 - UFB Direct Slashes Rates - What’s Going On at BofI Federal?
4/24/13 - Rate Drop At UFB Direct
11/20/12 - Another UFB Direct MMA Rate Cut - Future of BofI's Rewards Checking?
10/31/12 - Another Rate Cut at UFB Direct - Issues To Consider for Rate Chasers
10/10/12 - UFB Direct Money Market Rate Droped To %1.05
9/5/12 - UFB Direct Cuts Money Market Rate - Best Option for Savers?
9/4/12 - MM Rate Slashed At UFB effective 09/04/2012
8/6/12 - Another Money Market Rate Hike at UFB Direct
6/26/12 - UFB Direct Raises Money Market Account Rate
5/30/12 - UFB Direct Launches Money Market Savings Account with a Top Rate
2/28/12 - Another Rate Cut At UFB Direct - 0.85% To 0.80%
2/23/12 - Another Rate Cut at UFB Direct - Lessons for Rate Chasers?
2/13/12 - UFB Savings Droped Yet Again From 0.95% Down To 0.90%. Switching To Mybankingdirect Or Amtrustdirect.
2/7/12 - UFB Airline Rewards Savings Droped Again From 1.05% Down To 0.95%.
2/1/12 - UFB Direct Savings Account Yield Falls From 1.10% To 1.05%
1/18/12 - Rate Cut at UFB Direct - Savings Account Strategies in Today's Environment?
1/18/12 - UFB Direct Rate Drop From 1.30 To 1.10
9/16/11 - Nation's Top Savings Account Rate at Bank of Internet's UFB Direct
8/4/11 - Bank of Internet's New Airline Miles Rewards Savings & Checking Accounts
1/9/10 - UFB Direct's New 2% US Savings Account - How Long Will This Last?
6/22/09 - UFB Direct's No-Min Absolute Savings Account Still Holding at 5.31%
2/22/09 - UFB Direct Increases Yield on its Traveler's Savings Account to 4.00%
11/30/07 - UFB Direct Deposits FDIC Insured by Huntington and Countrywide
6/27/07 - UFB Direct Closes No-Min Savings and Starts New Tiered Savings Account
8/9/06 - CD Rates Go Down Again This Week at UFB Direct
8/1/06 - UFB Direct, Jumbo Money Market Rate Up But CD Rates Down
6/21/06 - 5.50% 1-year CDs Now at UFB Direct, M&T and Tranportation Alliance Banks
1/2/06 - UFB Direct Raisies Money Market Rates
11/2/05 - New CapOne/Costco and UFB Direct Money Market Rates
8/22/05 - The Deal at UFB Direct

Great online savings account...

Posted by: |

UFB Bank has a great online savings account. The rate was so much higher than I could find anywhere else, especially local banks. Opening the account was very easy and only took a few minutes. Once the account was open it was easy to transfer money into the account via ACH. The website itself was very nice and was extremely easy to use. It had all the necessary information easily at hand and kept a record of your transactions along with all your old statements. Given that this bank is FDIC insured is a great peace of mind because that means at least 250,000 dollars is insured by the FDIC. If for any reason this bank was to go out of business the FDIC would step in and insure that depositors would get all their money back. I recommend UFB wholeheartedly.

Average Bank...

Posted by: |

Warning If you zero out your balance before the end of any month the interest you have accrued for that month will be forfeited and they will account close your account...Account setup is slow takes a few days until you can log into your account.. Rate is not stable they tend to lower it after only a few months...

Watch OUT!

Posted by: |

A little over a year ago this bank dangled an interest rate of 1.25%. Within months the interest rate plummeted by .85%, dropping to .40%. Online I easily opened a UFB Direct savings account, but naturally after a few months I left very little in it and then finally closed it. I was told by customer service that I could not set up through UFB Direct ACH transfers so I simply set up these "in & out" ACH transfers to originate from my other banks (trial deposits went smoothly). When logging in the site often demanded a verification code which it offered to send by email or text. Unusual, but not too much work. As long as the savings account balance was over $25,000 the entire balance enjoyed the highest interest rate. When the time comes to close the account you must give UFB Direct notice beforehand, or else you forfeit any outstanding interest. I emptied the account to zero after the end of the month prior to closing it (therefore successfully transferring out all the interest) because it's unclear what that process necessitated. For some odd reason I was required to print, sign, scan, and return a signature card despite not having a checking account. You're responsible for ATM fees using an ATM card linked to the savings account, but you're reimbursed for any ATM fees while using a debit card linked to the checking account. A smart phone app is available for mobile banking including depositing checks and paying bills from a checking account.

Worst Banking Experience Ever

Posted by: |

I usually don't write reviews, but my experience was so appalling that I decided to write one.

Opening the account was quick and easy process. But the process of depositing the money through ACH took for ever. It was more than 5 days after the money was drawn from the source still did not reflect in my UFB Direct Account. Furthermore their customer service is horrible. I decided to take my money elsewhere because of their poor customer service.

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Health
A

Data as of Q4 2019

Data displayed below is for insuring bank: BofI Federal Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #35546
Year Established2000
Employees1031
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.78%
Return on Equity - YTD18.71%
Annual Interest Income$594.8MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$11.55B$9.80B
LoansQ4 2019vs Q4 2018$10.12B$9.04B
DepositsQ4 2019vs Q4 2018$10.15B$8.42B
Equity CapitalQ4 2019vs Q4 2018$1.06B$955.6MM
Loan Loss AllowanceQ4 2019vs Q4 2018$59.3MM$53.7MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$52.2MM$43.0MM
Real Estate OwnedQ4 2019vs Q4 2018$7.4MM$8.5MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

UFB Direct Cuts Savings And MM Rates From 1.51% To 1.35%

  |  
If Nationwide slashes its rates, then UFB obviously will too, since they both use Axos for their banking platforms. With these rate cuts, UFB is now paying slightly more than Nationwide is.

UFB Lowers To 1.51% From 1.61%

  |  
Lowered again 1 week later

UFB Lowers Rates.

  |  
UFB lowers Money Market and Savings rates to 1.61% APY from 1.7% APY.

Rates
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Always verify rates and promotions with the bank or credit union. We are not UFB Direct; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

UFB Direct Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%$10k-UFB High Yield Savings

UFB Direct Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$25k*-UFB Premium Money Market - New Money
OTHER TIERS: 0.50% Up to $25k
Locations

UFB Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 4350 La Jolla Village Drive, - San Diego, CA 92122

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.