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!
A few months ago, I opened savings accounts with CIT Bank, Marcus, UFB Direct and Capital One. Most of these banks have lower reviews and I'm glad I did not rely on those reviews, especially UFB's very low rating on this site. First off, most of these online banks are regularly featured on sites that share with you the offerings of different banks. Do your own research and look at the bank stat or their parent organization's health. I made transfers for my initial deposits with all these banks and did not have any issues. I have done bi-weekly transfers with UFB and and it goes smoothly each time.
I'm not sure if I've just had the best of luck with the four accounts I opened with the four different banks but I just don't understand all the negative reviews. Some just silly like the transfer limits, transfer times, etc. Most info are available online and if not, ask before opening your account. Also, online banking does not mean faster banking. And if you want a live person and constant/immediate access to your money, go to a Chase branch and earn 0.1% on your money.
UFB Direct has competitive rates and I've had nothing but positive experiences with them. I've had to call a few times with questions and each time, the wait was not long and I was provided with great service. Hopefully, they are being proactive and have been addressing some of the valid consumer complaints. The great thing for consumers is that there's a large number of banks to choose from. As for me, I'm very satisfied with UFB Direct and will continue to grow my account with them.
I’ve had to open 4 accounts since march of 2023 to get the current high rates. Within the last week or two they dropped my rate from above 5% to 4.5% without notifying me. Their current advertised rate is 5.25% so another account was opened to get the current rate. I can’t say this is a professional way to act as a bank so I doubt I will be here long term. It’s been nice getting $450 a month in interest but with having over $100k in a bank I shouldn’t be playing these bait and switch games. I’ve had no issues with withdrawals but deposits take over a week+ to show up. Withdrawals take 2 days. If you don’t mind playing games and staying one step ahead of their nonsense with interest rates it’s a good return. I can’t believe it is legal to lower your rate while advertising and giving higher rates to newcomers. It just tells me whoever is running this bank is trash. I’ve made a couple grand in interest since march so it is legit if you stay ahead of their childish interest games.
Verified Bank Customer
I'm deeply disappointed AXOS Bank (the "Bank") has benefited from the use of my money and I have been robbed by a loss of interest earned. On 8/10/2023, the Bank had decided to create a new account (i.e., High Yield Savings). However, the Bank didn't inform me (in advance) of this new account. Rather, the Bank had enjoyed earning the difference in what it would've otherwise paid to its customers. Hence, the Bank's overall savings are substantial by not telling its customers. Does the Bank not have my contact information (mobile # and/or via an email blast - of course they do!) to let me know, in advance, the Bank is creating a new type of account wherein customers can enjoy a higher rate of interest? Would this not have been good customer service to earn the loyalty from its customers, who are the very bedrock of the Bank's future growth? Instead, the Bank throws me a $35 bone in lieu of what I could have earned on my $162,400+ . I'm planning to moving my money, as a result.
Happened to check my account and my interest rate dropped half a point with no notice. No way to know yet for sure how long ago but it's probably a whole month at a significantly lower rate than I signed up for. Meanwhile Fed rates have gone up.
The only recent communication I've had from UFB is that I can open a new account at a 5.25 interest rate. How scummy can you be to send out an ad for a higher rate but not let your existing customers know you're bilking them. Just a scam.
Taking my business elsewhere. Lots of good rates out there.
|FDIC Certificate #||35546|
|Return on Assets - YTD||1.56%|
|Return on Equity - YTD||15.91%|
|Annual Interest Income||$303.4MM|
|Assets and Liabilities|
|Assets||Q1 2023vs Q1 2022||$18.94B$14.77B|
|Loans||Q1 2023vs Q1 2022||$15.82B$13.09B|
|Deposits||Q1 2023vs Q1 2022||$16.86B$12.96B|
|Equity Capital||Q1 2023vs Q1 2022||$1.84B$1.53B|
|Loan Loss Allowance||Q1 2023vs Q1 2022||$161.1MM$143.2MM|
|Unbacked Noncurrent Loans||Q1 2023vs Q1 2022||$95.9MM$136.1MM|
|Real Estate Owned||Q1 2023vs Q1 2022||$4.3MM$0|
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|
|5.25%||-||-||UFB High Yield Savings|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|5.25%||-||-||High Yield 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