UFB Direct

Deposits held and insured by Axos Bank

Overview / Commentary
877-472-9200
4350 La Jolla Village Drive,
San Diego, CA 92122
Deposits held and insured by Axos Bank

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

UFB Direct Ups Money Market and Savings Account Rates - 12/1/2022

UFB Direct (online division of Axos Bank) has upped the rates on its new UFB High Rate Money Market Account and UFB High Rate Savings Accounts.

UFB Direct Adds New Rate-Leading Money Market and Savings Accounts - 11/10/2022

UFB Direct (online division of Axos Bank) has unveiled the UFB High Rate Money Market Account and UFB High Rate Savings Account with rate-leading APYs.

UFB New High Rate Savings And MM Accounts 3.83%APY - 11/9/2022

UFB is up to it's old tricks, making new account types with higher rates. This time we have the new "High Rate" Savings and MM accounts paying 3.83%APY. Existing account holders will need to call or chat to have their account converted to these new account types in order to receive the higher rate.

View all posts from:

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

Reviews (104)

I'm Really Appreciative

Posted by: |

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.

A Dissenting Experience....

Posted by: |

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.

Existing Customers Get Shafted

Posted by: |

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!

Warning- They Freeze Your Account If You Transfer In A Large Amount

Posted by: |

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.

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Health
A

Data as of Q2 2022

Data displayed below is for insuring bank: Axos Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #35546
Year Established2000
Employees1095
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.71%
Return on Equity - YTD16.8%
Annual Interest Income$347.0MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$16.00B$12.75B
LoansQ2 2022vs Q2 2021$14.08B$11.42B
DepositsQ2 2022vs Q2 2021$14.08B$10.96B
Equity CapitalQ2 2022vs Q2 2021$1.63B$1.30B
Loan Loss AllowanceQ2 2022vs Q2 2021$148.4MM$132.8MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$118.3MM$141.4MM
Real Estate OwnedQ2 2022vs Q2 2021$0$6.1MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

UFB Direct Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.91%--UFB High Rate Savings

UFB Direct Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.91%--UFB High Rate Money Market
Locations

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

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.