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UFB Preferred Savings: Earn Expired

up to 5.02% APY
+52 Deal Score
105,866 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
105,866 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 Aug 2014
L6: Expert
> bubble2 1,485 Posts
404 Reputation
euuser3876202
03-15-2023 at 12:32 PM.
03-15-2023 at 12:32 PM.
Their CS is awful, took forever to get someone, and they all are overseas. Also, they retain your data forever (yes they do). I found out when I created a login ID which was not correct, they could not fix it (Yes they could not fix it) and then I requested a delete of all my info (so I could start all over). They said they don't do that and retain everything forever.
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Joined May 2020
L3: Novice
> bubble2 274 Posts
42 Reputation
PaulM1ghty
03-15-2023 at 12:56 PM.
03-15-2023 at 12:56 PM.
Quote from cheapguy2020 :
Their CS is awful, took forever to get someone, and they all are overseas. Also, they retain your data forever (yes they do). I found out when I created a login ID which was not correct, they could not fix it (Yes they could not fix it) and then I requested a delete of all my info (so I could start all over). They said they don't do that and retain everything forever.

My experience as well. Shady.
2
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Joined Aug 2014
L5: Journeyman
> bubble2 655 Posts
54 Reputation
FreakinDealWithIt
03-15-2023 at 03:47 PM.
03-15-2023 at 03:47 PM.
Moved things to Primis Bank after there was a deal here with a 5.0% APY last month. Not gonna keep moving money around unless the rate jumps nicely. Already up to a dozen savings accounts. It's getting silly.
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Joined Sep 2016
New User
> bubble2 3 Posts
10 Reputation
johnson_n_b
03-15-2023 at 04:05 PM.
03-15-2023 at 04:05 PM.
I created an account a few weeks ago when it was at 4.55%. I see now they're at 5.02%. How do I see what my current rate is? Also how do you chat with a representative? All I see for chat function on the UFB app is for some AI thing called Evo?
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Joined Oct 2006
L2: Beginner
> bubble2 33 Posts
10 Reputation
phoneman63
03-15-2023 at 04:32 PM.
03-15-2023 at 04:32 PM.
Quote from johnson_n_b :
I created an account a few weeks ago when it was at 4.55%. I see now they're at 5.02%. How do I see what my current rate is? Also how do you chat with a representative? All I see for chat function on the UFB app is for some AI thing called Evo?
Click on your account and then the details tab. I just called and had them adjust the interest rate.

Alex
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Joined Sep 2016
New User
> bubble2 3 Posts
10 Reputation
johnson_n_b
03-15-2023 at 04:35 PM.
03-15-2023 at 04:35 PM.
Quote from phoneman63 :
Click on your account and then the details tab. I just called and had them adjust the interest rate.

Alex

Good call, thank you. Looks like I'm at 5.02% already. Thanks for the help, it's greatly appreciated.
Reply
Joined May 2014
L2: Beginner
> bubble2 99 Posts
26 Reputation
Cheezycheeto
03-15-2023 at 04:58 PM.
03-15-2023 at 04:58 PM.
Opened an account with them a month or so ago when bankbonus still had the $100 sign up bonus. It was 4.21% apy and called the UFB "Best Savings" account. When it went up to 4.55%, they changed the name of the account to UFB "Preferred Savings" account. I contacted them and the only difference was basically the name and the rate. Very shady of them to do, It was very easy to change though through their live chat and took 1 or 2 days for the changes to appear on my account. I just checked and the change from 4.55% to 5.02% was automatic and I did not have to do anything.

On the note for customer service though, I would say that the agent on the live chat seemed like they were outsourced to another country but the person I spoke with on the phone with seemed to be from the US and did not have any sort of foreign accent. That agent had pretty good CS too in my opinion.

Deposits are pretty slow. They usually take a week or so to get through so I would pull/push from other accounts if you need more speed.
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Joined May 2017
New User
> bubble2 14 Posts
10 Reputation
rpdoyle1
03-15-2023 at 05:51 PM.
03-15-2023 at 05:51 PM.
I opened an account about a month ago and haven't had any issues. The CS wait time is long, but survivable.
People complain that the funds aren't available for 7-10 days, and that was my experience - but I still accumulated interested during that time (started accumulating the date of deposit) so no big deal to me. I didn't put it in there to pull it back out the next day, lol.

Once you add a bank account, those transfers go through faster.
My rate was automatically adjusted to the new 5.02% rate.
Lots of complaining about this bank, but it seems to get the job done. CS and their app aren't top notch, but no Ticketmaster by any means.
I haven't tried to take any money out yet, but it should just be a quick transfer (3-4 days max) via the app back to my other bank account based on the transfer in.
Hope that's helpful.
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Joined May 2019
L4: Apprentice
> bubble2 363 Posts
132 Reputation
Ishbi-Benob
03-15-2023 at 06:42 PM.
03-15-2023 at 06:42 PM.
Here's notes from after phone calls (many on hold too long) yesterday with strikethroughs on the ones I rejected, and comments on why.
I did need a checking account directly within the account, not linked.
Customer Service, including phone hold time is important for me.

SoFi Checking and Savings: Best for account balances above $20,000
rate with direct deposit



Primis Savings Account 4.35, no details online, 7 min phone wait.
MySavingsDirect Savings Account 4.35, no direct checking
Bask Bank Interest Savings Account 4.25, no info re. checking 833-260-4320 4 min phone hold.
TAB High-Yield Savings Account 4.06, no info! (800)-355-3063 no checking
CIT Bank Savings Connect Account 4.05, no info
PNC High Yield Savings℠ Account 4.00, no info, requires zip, childish step by step website.
LendingClub High-Yield Savings Account 4.00,no info 800.242.0272 no checking.
Synchrony High-Yield Savings Account 4.00, no contact.
Marcus by Goldman Sachs High Yield Online Savings Account 3.75, no checking

TD Signature Savings 3.75,
wealthfront.com no phone
barclays sucks

https://www.customersbank.com/interest-checking/ 2%

UFB Direct Money Market Account 4.55, <$5k = $10/mo.
https://www.ufbdirect.com/moneyma...JJ4AG1jo6w 1-877-472-9200 15 min on hold, no pickup
external bank transfers?Max/day in or out $30,000.00  Max/month $60,000.00



https://www.viobank.com/cornerstone-money-market-savings
4.3% $5 monthly fee if you receive paper statements. 888.999.9170
After account opening, transfers initiated through the Vio Bank External Transfer Service are limited to $25,000 per day and $100,000 per month. no checking.


I'll settle for Sallie Mae's or Ally's MMA, both 3.80% and someone answers the phone soon.

I shouldn't count my eggs before they hatch so maybe I should have put the hay in the barn but I just couldn't pull the trigger on redneck bank. https://redneck.bank/accounts/mega-money-market
Heehaw
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Last edited by Ishbi-Benob March 15, 2023 at 06:45 PM.
Joined Dec 2011
L7: Teacher
> bubble2 2,886 Posts
212 Reputation
hbsjr
03-15-2023 at 08:20 PM.
03-15-2023 at 08:20 PM.
Dang looks like I need to switch my SoFi 3.75% and Synchrony 4%
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Joined Jul 2006
L4: Apprentice
> bubble2 462 Posts
220 Reputation
melcoeb
03-16-2023 at 02:37 AM.
03-16-2023 at 02:37 AM.
they can view my SoFi account but wont let me transfer to/from. Not good.
1
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Joined Apr 2016
L5: Journeyman
> bubble2 646 Posts
101 Reputation
Jimi542
03-16-2023 at 05:41 AM.
03-16-2023 at 05:41 AM.
I just recently asked for a bump to 4.55. I was surprised they automatically increased to the new rate.
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Joined Apr 2011
L3: Novice
> bubble2 1,198 Posts
530 Reputation
CompulsiveBuyer
03-16-2023 at 05:49 AM.
03-16-2023 at 05:49 AM.
Quote from Singer33 :
Signature and SVB are garbage woke banks. Worrying more about pronouns than keeping clients fund safe
Meaningless word salad.
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