UFB Direct
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 1.00% | Savings | |
| 1.30% | Savings | |
| 1.60% | Money Market |
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
1/24 - UFB Paying 1.6% On Premium Savings & High Yield Money Market. But You Have To Ask,
1/3 - UFB Will Give 1.41% APY On Premium Savings Accounts If You Ask.
9/7 - UFB Direct Raises Money Market Savings Rate To 1.41% APY
6/5 - Saving Account Up To 1.3% APY
5/3 - UFB Direct Adds New Premium Savings Account
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...
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...
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!
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.
UFB Direct Money Market Is A Trap
Don't do it!!! It was a bit of an aggravation to set up our Money Market account. The advertisement for the account was the 1.6% rate and the "ease of use". "Like having a checking account" they said. The rate is correct but they do not automatically increase it on your account when the rates go up unless you instruct them to increase it through the "secure email" system (which doesn't work on any Apple product). Now comes the reason to run the other direction away from this bank...We decided to move a portion of the money to another institution where the rates are higher. I set up the other outside account links on my UFB account. Should be easy, right? Nope! Every time I tried to transfer funds all I got was a error message. So once again called Support. The secure "Chat" function never works! Attempting the "Secure email" also resulted in error messages. Seems the issue is the UFB website does not work well with Safari. Support tells me that Apple web browser is just not up to date. ????!!! Are you kidding? Anyway...downloaded Google Chrome per the Support guys instructions and was able to get into the "secure email" system. According to the Support tech the only way to close an account is to send a secure email. Yes, by this time the goal is to CLOSE the account. That was almost a week ago. Other than the auto response which states they will get back to me within 24 hours with a answer I've heard nothing from them. Three secure emails later, I called Support once again and chewed some poor girls ear off. She put in some kind of request that she assures me will get a response within 24 hours. We will see. They are holding our funds hostage. Not much different than a thief if they don't send them back when asked.
Data as of Q2 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35546 |
| Year Established | 2000 |
| Employees | 801 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.03% |
| Return on Equity - YTD | 21.35% |
| Annual Interest Income | $268.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2018vs Q2 2017 | $9.53B$8.50B |
| Loans | Q2 2018vs Q2 2017 | $8.47B$7.40B |
| Deposits | Q2 2018vs Q2 2017 | $8.09B$6.98B |
| Equity Capital | Q2 2018vs Q2 2017 | $905.2MM$804.8MM |
| Loan Loss Allowance | Q2 2018vs Q2 2017 | $49.2MM$40.8MM |
| Unbacked Noncurrent Loans | Q2 2018vs Q2 2017 | $31.2MM$28.4MM |
| Real Estate Owned | Q2 2018vs Q2 2017 | $9.4MM$1.4MM |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.30%* | $25k* | - | UFB Premium High-Yield Savings Account | ||
| OTHER TIERS: 0.20% → Up to $25k | |||||
| 1.00%* | $20k* | - | UFB Savings | ||
| OTHER TIERS: 0.20% → Up to $20k | |||||
UFB Direct Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.60% | - | - | High Yield Money Market Account |
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