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!
I was conned out of $153,700 by a forex website called Tradestation. I was first told that I could withdraw 11.5% return on investment (roi) per week starting from the second month of membership, and that if I invested more, the return may grow by 4.5%. I added another $17,300 to make a total investment of $170,000. I was only able to make withdrawals after the initial investment for the first week before being told to invest more money to make more withdrawals. I told them I wasn't interested in this and that I wanted to stick with the current ROI plan, but they insisted that I first have to invest, at which point I recognized a red flag and told them I wasn't interested. While not being shocked by their behavior, I was unable to withdraw money again. I notified a friend, and he gave me the email address Contact Kevin Recovery Agent @ GMAIL COM A week after we got in touch, I was able to take all of my money, along with my return on investment for the entire intended length of the 9 months advance payment. You can get in touch with them if you need any of these services; they're the best available. I still can't believe that this happened, and it was all because of Contact Kevin Recovery Agent @ GMAIL COM . Contact Kevin Recovery Agent @ GMAIL COM . I'm really appreciative.
I have read the seventy negative reviews and accompanying comments, including re-reading my own.
Like others, I am not fond of virtual assistants and definitely not a fan of offshore call centers as an excuse for customer "service". My fears and objections changed dramatically when I reached a native speaker on the phone. Coherent, personable and attentive, no red flags blasted out of my head. She forwarded my concerns to the "Senior Communications Strategist" who, in turn, forwarded my concerns to a "Customer Advocacy Specialist" who was even more impressive.
In our exchange, he created a direct channel to reach him, immediately increased my transfer limits as I had requested, confirmed my linked external accounts were operable and without restrictions, explained that being called "Mr first name" is a sign of cultural respect in India and not evidence of stupidity and did a thorough forensic review of my interest as the rates changed since opening. 3.11% from and to, 3.16% from and to and 3.83% from and to. Everything was processed appropriately. I'm told that the call center is there to handle overflow traffic, not a substitute for the customer support we all hope for.
A few observations in retrospect... first, my disclaimer, I am not a shill for this bank and receive no incentive for this review. I don't think it is a "s..t" bank and I don't think they are "a bunch of gangsters". The bank has an "A" rating, sound financials and longevity of 20 years as their parent AXOS bank. It is also highly regarded by Forbes. They have a large variety of financial instruments and offering a leading rate (currently 3.83%) in an online marketplace has probably swamped them.
Like many others, all of these negative reviews are troubling and hard to dismiss. Keeping six figures in a bank with these reviews is clearly a leap of faith but I am doing so as a reflection of my personal experience. Maybe I got lucky and the other shoe hasn't fallen yet. Time will tell.
I mourn days of brick and mortar banks but their business is no longer about deposit accounts, hence offering 0.01%. Online banks, especially those aggressively pushing rates in response to Fed increases are a minefield. A few good ones and lots of terrible ones and some in between with some truly bizarre rules. There are also a myriad of reasons why customers experience problems, some easily understood and others from unique circumstances. Send ten people to a movie and five will love it and five will hate it. Banks are no different.
I'll update if things change for me.
Beware of attractive rates if you're an existing customer! When the rate goes up (in line with recent trends), they require that your account be updated to the latest and greatest new account type, and they won't do this automatically. You have to check the rate and request the account change, otherwise you'll keep getting the existing lower rate on your account. Great way to treat long-term customers!
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|
|3.91%||-||-||UFB High Rate Savings|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|3.91%||-||-||UFB High Rate 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