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UFB Preferred Savings: Earn Expired

up to 5.02% APY
+52 Deal Score
105,643 Views
UFB Direct, our partner, offers the following benefits with their Preferred Savings account:
  • Earn up to 5.02% APY*.
  • No monthly maintenance fees.
  • No minimum deposit requirement
  • Complimentary ATM card
  • Digital tools for seamless remote banking
  • Free transfers between direct deposit accounts
Thanks to staff member LD7 for finding this deal.


Slickdeals may be compensated by UFB Direct

Original Post

Written by
Edited April 13, 2023 at 01:57 PM by
UFB Direct, our partner, offers the following benefits with their Preferred Savings account:
  • Earn up to 5.02% 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 02-22-2023 at 11:46 AM by LD7 | Staff
in Finance Axos Bank
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+52
105,643 Views
up to 5.02% APY
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. 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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This rate is not for a CD, this is a standard savings account rate. So the big difference is having complete liquidity versus putting your money into a CD which typically will have an early withdrawal penalty if you need to access your funds before maturity. Also, if you lock yourself into a CD and rates continue to go higher, you may lose out on some additional interest at other banks as they increase their rates. Once I see rates start to come down, I'll probably put some money into a CD that matures in a few years to continue to earn high interest even as rates start to decline.
They are jumping the gun by a week, counting on a 1/2 percent increase by the Fed in the next meeting. Assuming that happens, by the end of the month other online savings accounts will be in the 4.5% to 5% range. Solid rate tho.

And yeah, if you have more than $250k in an account, you might want to break that up and have a few accounts to keep your balances under that threshold…But I bet you already knew that if you have that much cash sitting around.
Nah takes like a day. They just sit on our money and earn on their end for a week then allow it to post so we start earning. LOL

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Joined Jun 2010
L5: Journeyman
> bubble2 2,448 Posts
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scgt1
03-01-2023 at 05:48 AM.
03-01-2023 at 05:48 AM.
Figures! Created an account 2/19 for 4.21% Transferred money same day didn't arrive until yesterday. Now it's 4.55%
1
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Joined Dec 2004
L6: Expert
> bubble2 1,812 Posts
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beware
03-01-2023 at 06:40 AM.
03-01-2023 at 06:40 AM.
Quote from scgt1 :
Figures! Created an account 2/19 for 4.21% Transferred money same day didn't arrive until yesterday. Now it's 4.55%

They have adjusted my rate every time since the 3ish rates the last 5 months..
1
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Joined Jun 2010
L5: Journeyman
> bubble2 2,448 Posts
330 Reputation
scgt1
03-01-2023 at 06:49 AM.
03-01-2023 at 06:49 AM.
Quote from beware :
They have adjusted my rate every time since the 3ish rates the last 5 months..
Do you just send a support ticket in and request they bump you up to the current (UFB Preferred Savings) plan?
Reply
Joined Dec 2004
L6: Expert
> bubble2 1,812 Posts
287 Reputation
beware
03-01-2023 at 06:55 AM.
03-01-2023 at 06:55 AM.
Quote from scgt1 :
Do you just send a support ticket in and request they bump you up to the current (UFB Preferred Savings) plan?

I did once in November.
I just confirmed December was 4.04% and January was 4.16%.

Transferring money is painfully slow and takes about a week. Overall customer support was responsive.

edit: I started with the preferred savings, they converted to preferred money market. My wealthfront is still at 4 and daily average in Jan was 3.25% and then 3.73% APR with a 3.80 APY.
Reply
Last edited by beware March 1, 2023 at 07:02 AM.
Joined Jun 2010
L5: Journeyman
> bubble2 2,448 Posts
330 Reputation
scgt1
03-01-2023 at 06:59 AM.
03-01-2023 at 06:59 AM.
Quote from beware :
I did once in November.
I just confirmed December was 4.04% and January was 4.16%.

Transferring money is painfully slow and takes about a week. Overall customer support was responsive.
Nah takes like a day. They just sit on our money and earn on their end for a week then allow it to post so we start earning. LOL
1
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Joined Dec 2017
L4: Apprentice
> bubble2 469 Posts
359 Reputation
Joedaddy123
03-01-2023 at 07:07 AM.

Our community has rated this post as helpful. If you agree, why not thank Joedaddy123

03-01-2023 at 07:07 AM.
I recently opened and funded it with a push from SOFI, took about a day. (I transferred from SOFI site)
Now, I used the UFB site to pull a transfer, and it took 3 days

Hence, if you open an account, try to push into UFB
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Joined May 2019
L2: Beginner
> bubble2 41 Posts
14 Reputation
BullittEV
03-01-2023 at 07:28 AM.
03-01-2023 at 07:28 AM.
damn 4.55% is good, I dont want to keep moving money around.. I will be able to move the money instantly all at once no issues if needed? Using it to make some interest on a downpayment for a home so if I need it on the spot I'd like to be liquid within a few days
Reply
Joined Oct 2007
L3: Novice
> bubble2 160 Posts
38 Reputation
tadr
03-01-2023 at 07:50 AM.

Our community has rated this post as helpful. If you agree, why not thank tadr

03-01-2023 at 07:50 AM.
Quote from BullittEV :
damn 4.55% is good, I dont want to keep moving money around.. I will be able to move the money instantly all at once no issues if needed? Using it to make some interest on a downpayment for a home so if I need it on the spot I'd like to be liquid within a few days

Same question here… any issues with transferring out large sums in short order? I believe lots of banks now have limits on size of electronic transfers
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Joined Jun 2010
L5: Journeyman
> bubble2 2,448 Posts
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scgt1
03-01-2023 at 08:17 AM.
03-01-2023 at 08:17 AM.
Just jumped on chat and got my 4.21% best changed to the Preferred 4.55% rate.
Reply
Joined Sep 2007
L7: Teacher
> bubble2 2,782 Posts
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Stryder5
03-13-2023 at 05:17 PM.
03-13-2023 at 05:17 PM.
Quote from BullittEV :
damn 4.55% is good, I dont want to keep moving money around.. I will be able to move the money instantly all at once no issues if needed? Using it to make some interest on a downpayment for a home so if I need it on the spot I'd like to be liquid within a few days

I believe they only let you move 20k a month? Not 100% sure on that, but I'm definitely hitting limits trying to deposit into ufb
Reply
Joined Oct 2004
L6: Expert
> bubble2 1,694 Posts
148 Reputation
Phegotgame
03-13-2023 at 05:34 PM.
03-13-2023 at 05:34 PM.
Im def staying away from these banks ive never even heard of
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Joined Jul 2011
New User
> bubble2 4 Posts
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kishoregolkonda
03-13-2023 at 07:16 PM.
03-13-2023 at 07:16 PM.
Beware of smaller banks.
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