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UFB Secure Savings: Earn
up to 5.25% APY
UFB Direct, our partner, offers the following benefits with their UFB Secure Savings account:
Slickdeals may be compensated by UFB Direct
- Earn up to 5.25% APY*.
- No monthly maintenance fees.
- No minimum deposit requirement
- Complimentary ATM card
- Digital tools for seamless remote banking
- Free transfers between direct deposit accounts
Slickdeals may be compensated by UFB Direct
Original Post
Written by
Edited November 16, 2023
at 01:33 PM
UFB Direct our partner, offers the following benefits with their UFB Secure Savings account:
Slickdeals may be compensated by UFB Direct
- Earn up to 5.25% APY*.
- No monthly maintenance fees.
- No minimum deposit requirement
- Complimentary ATM card
- Digital tools for seamless remote banking
- Free transfers between direct deposit accounts
Slickdeals may be compensated by UFB Direct
Created 08-11-2023
at 02:49 PM
by EfficientGame645 | Staff
in
Finance
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Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser.
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Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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The dollar limits at funding are:
Maximum to transfer in: $250,000.00
The dollar limits after your account is funded are:
Maximum per day in or out $30,000.00
Maximum per month $60,000.00
You may not make funds transfers in excess of limits described on the External Bank Transfer service.
We reserve the right to change from time to time the dollar amount of funds transfers you are permitted to make using our service.
https://www.ufbdirect.c
So basically, this is a great account for folks willing to call them on their BS. Apparently enough customers don't do that to make it worthwhile for them to play games like this.
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https://portfolioslab.c
A low-cost ETF in the S&P 500 is fine for diversification, but the funds I mentioned don't have that risk. And if things keep trending to where the Fed won't actually wind up cutting rates for many more months (which should be the case, IMHO), then funds like these are superior to anything in the stock market. That's why it's pulled back significantly the past few weeks.
Which do you suggest? Looks like USFR has a slightly higher performance but it's expense ratio is a little higher. Wasn't sure if that was reflected in the performance chart. How do they compare to SWVXX?
I'm not familiar with SWVXX, but as it's another treasury fund, it seems like a solid choice as well. USFR does seem to be performing better than it at the moment. This has become my go to site for comparison purposes. I've verified their data multiple times.
https://portfolioslab.c
https://www.mybankingdi
Not the best reviews though: https://www.depositacco
or here: https://slickdeals.net/f/17416683-my-banking-direct-has-5-55-apy1-when-you-open-a-high-yield-savings-account?v=1&src
https://www.depositacco
Interestingly, Citi, Chase, PNC, Key has "B+" rating? Does it make sense?
I know I will get my money back in case of bank failure since both are FDIC-insured. But I do not want to go through that problem. I normally prefer lower rates at Discover, Amex, and CapitalOne (or Ally) because they are relatively stable banks.
Another question is: why did Flagstar Bank or Axos Bank create a new "SEPARATE" product rather than offering a simple savings account under their own name, such as Flagstar Savings or Axos Savings? There must be a very solid reason for doing this. Any idea?
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I know I will get my money back in case of bank failure since both are FDIC-insured. But I do not want to go through that problem. I normally prefer lower rates at Discover, Amex, and CapitalOne (or Ally) because they are relatively stable banks.
Another question is: why did Flagstar Bank or Axos Bank create a new "SEPARATE" product rather than offering a simple savings account under their own name, such as Flagstar Savings or Axos Savings? There must be a very solid reason for doing this. Any idea?
I'm not familiar with SWVXX, but as it's another treasury fund, it seems like a solid choice as well. USFR does seem to be performing better than it at the moment. This has become my go to site for comparison purposes. I've verified their data multiple times.
https://portfolioslab.c
Thanks. Any idea if any of the three (SGOV, USFR, SWVXX) are state tax exempt?
https://apnews.com/article/trump-...105e51e045
https://www.depositacco
Interestingly, Citi, Chase, PNC, Key has "B+" rating? Does it make sense?
This account makes more money than my capital one CD and that money is tied up for like 8 months to go.
I have no idea why people use a regular bank for this. A money market fund has zero restrictions and the same rates.
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does Ufb also offer check writing? I do have check writing with Discovery.
Thanks for the info on check writing with Discovery. I'm looking for a HYS or good MM with check writing.