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!
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.
Interest rates on savings accounts have been rising rapidly over the past few months. UFB (Axos) recently increased their rate and explained to me that I don't get the rate increase because these higher rates are for "new accounts." They made no offer to move my funds to a new account or match that rate. I called back and a rep moved my funds to the new, higher interest account. Yesterday, they passed along their new rate to my account. Except for the one stinker, the customer service reps have been very good.
I had a account with UFB a couple years ago. They were always a little difficult to deal with but had good rates. I could usually call and they would raise transfer limits immediately. I stopped using the account when rates fell and they closed it. They called me a couple days ago to entice me to reopen the account with their new rates under Axos ownership. I took the bait. They told me this and that and the people working there seem nice but unfortunately come across very amateurish and not well-informed. They would not raise the ACH limits enough to accomodate a inbound transfer, even though I was told it wouldn't be a problem.. They wanted me to do a wire transfer instead. When I tried to link them to a external bank account to push funds, the other bank said they were having a problem linking to Axos. If it's this hard to get money in, I can only imagine how hard it must be to get money out. No thanks...life is too short to jump through these hoops to make a deposit. There are plenty of other banks easier to deal with.
I just opened an account and transferred in most of my savings. Then as soon as the funds showed "available" 4 days later, UFB froze my account and will not let me access funds or even withdraw 5 dollars unless I send a photo of myself holding my drivers license and a utility bill with my adress from the past 30 days. They are refusing to even let me speak with a supervisor. I have banked with many institutions over the past 40 years and never encountered anything like this. So please be very very careful.
|FDIC Certificate #||35546|
|Return on Assets - YTD||1.71%|
|Return on Equity - YTD||16.8%|
|Annual Interest Income||$347.0MM|
|Assets and Liabilities|
|Assets||Q2 2022vs Q2 2021||$16.00B$12.75B|
|Loans||Q2 2022vs Q2 2021||$14.08B$11.42B|
|Deposits||Q2 2022vs Q2 2021||$14.08B$10.96B|
|Equity Capital||Q2 2022vs Q2 2021||$1.63B$1.30B|
|Loan Loss Allowance||Q2 2022vs Q2 2021||$148.4MM$132.8MM|
|Unbacked Noncurrent Loans||Q2 2022vs Q2 2021||$118.3MM$141.4MM|
|Real Estate Owned||Q2 2022vs Q2 2021||$0$6.1MM|
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.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|2.61%||-||-||UFB Rewards Savings|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|2.61%||-||-||UFB Rewards Money Market|
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