UFB Direct's New Absolute Savings Account Now 5.31% on All Tiers

So why didn't they just keep the High Yeild Savings account, add tiers all with the same rate. This would still allow them to change it later. I closed my account with them last week, they wouldn't have lost me if they would have done it that way.

Their interest rate is still high enough therefore I would not close my account.
The interest rate in now 5.19% while yesterday it was 5.18%.
i will be checking the interest rate everyday now on.

Asked them to convert my HYMM to Absolute saving on 7/10 they emailed me and I was told it would be converted the next day 7/11 still waiting on 7/13 if not converted by 7/16 I will close my account.

I didnt have any problems, other than it always takes UFB a long time to respond to emails. Response time was over a day, but after they responded, they converted the account in just a few hours.

This is a technique that the long distance phone companies pioneered in the late 1980s and the 1990s.

Remember the heavy advertising for the Reach Out America plan? The advertising quietly changed to the Reach Out USA plan with virtually the same rates. Few people noticed the change and almost no one thought it was significant. However, they gradually started to raise the rates on the Reach Out America plan for all the customers who signed up for that. People didn't notice the gradual increases and still saw all the commercials for the lower-priced USA plan and didn't figure out what was going on.

Occasionally, a TV station reporter hired mainly for their looks not their brains would do a piece on long distance rates and interview a very *sincere* spokesperson for the long distance company who always had the canned answer "All anyone needs to do is ask to be put on the lower plan. We encourage our customers to check regularly for the best plan for their needs."

They do that one more time and I am outta there... happened to me twice already and good thing I check them every couple of weeks otherwise I may not have noticed. Given the large balance I have with them it would be a big loss.

UFB has been bought up by Sky and Sky has been bought by Huntington National Bank. If you go to the UFB website it mensions at the bottom small print that all deposit products are with Huntington. Huntington right now has a 4.6% on its Anywhere Savings, so the currently advertised UFB rate of 5.31 looks pretty good. However, if you go to the application page and click on "more information..." it says that the product is no longer available for new customers. But if you ignore this the site will let you apply (or at least start an application). Do we know if this 5.31% savings account is still valid? Won't Huntington drop the rate closer to its own?

It's possible that Huntington will keep UFB Direct as a separate service. About the message stating that the product is no longer available, are you sure that's not the High Yield Money Market Savings Account? The Absolute Savings replaced that.

This was posted on another topic but is most relevant to UFB customers, so I am posting it here also FYI.
One aspect of UFB I've found useful is their contract with UPS. You can send an envelope with a check for deposit through UPS direct to UFB in Indianapolis without charge, where I live the process takes overnight. I wrote a check on the 18th, UPS got it to UFB the 19th when it was deposited. That beats the ACH transfer system at most banks I've tried.
The form for this is here.
The only hitch was that the recipient on the UPS aystem was listed as "Affinity Financial, 45 N Pennsylvania St Fl 3, Indianapolis, IN 46204-3139" while the UFB form showed "The Huntington National Bank
45 N. Pennsylvania St., 5th Flr.
Indianapolis, IN 46204"
I needed to supply this info to my UPS office when I sent my deposit.

Can anyone tell me if UFB does a hard pull for a new account?