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
7/24 - UFB Direct New Priority Savings And MMA
4/13 - On 4/13 UFB Direct Will No Longer Offer Preferred Money Market To New Customers.
3/25 - Raised Savings Rate To 5.02
3/14 - UFB Direct Preferred Savings and Money Market Are Now Rate Leaders
3/14 - UFB Direct Savings And MM Both 5.02%
2/23 - UFB Direct Adds New Rate-Leading Money Market And Savings Accounts
2/22 - New APY 4.55% - Leading Savings Rate In America
1/20 - UFB Direct MM & Savings APY Increased To 4.21%
1/20 - $100 UFB DIRECT SAVINGS BONUS
12/15 - UFB Direct New Best Money Market and Best Savings Are Rate Leaders
12/14 - MM And Saving APY 4.11%
12/1 - UFB Direct Ups Money Market and Savings Account Rates
11/10 - UFB Direct Adds New Rate-Leading Money Market and Savings Accounts
11/9 - UFB New High Rate Savings And MM Accounts 3.83%APY
10/13 - UFB Direct Ups Elite Money Market And Savings To 3.11%APY
10/1 - UFB Elite Savings Increased To 3.01%
9/27 - UFB Elite Savings 2.85%
8/16 - UFB Direct Unveils Rewards Money Market and Rewards Savings Account
8/11 - UFB Direct Ups Money Market And Savings Account Rates To 2.21% APY
7/15 - UFB Direct Boosts MMA and Savings Rates For Third Time In 4 Weeks
7/1 - UFB Direct Ups Money Market And Savings To 1.66% APY
6/24 - UFB Direct Adds New Savings and Money Market Accounts
6/17 - UFB Money Market & Savings Now 1.51%
6/9 - UFB Direct Cuts Savings And MM Rates From 1.51% To 1.35%
5/27 - UFB Lowers To 1.51% From 1.61%
5/19 - UFB Lowers Rates.
1/24/18 - UFB Direct Adds New High Yield Money Market
1/24/18 - UFB Paying 1.6% On Premium Savings & High Yield Money Market. But You Have To Ask,
1/3/18 - UFB Will Give 1.41% APY On Premium Savings Accounts If You Ask.
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
Positive Experience With UFB
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.
Current Rates For UFB Account.
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.
ALERT: UFB Bank Robs Customers
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.
Unethical - Lowers Rates Without Telling You
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.
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35546 |
| Year Established | 2000 |
| Employees | 1126 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| 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 |