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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
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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
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Created 02-22-2023 at 11:46 AM by LD7 | Staff
in Finance Axos Bank
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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 Mar 2015
L3: Novice
> bubble2 815 Posts
166 Reputation
jacksan1
03-19-2023 at 06:10 PM.
03-19-2023 at 06:10 PM.
Quote from alchemista :
Ufb bought credit suisse this weekend, I think they are fine.
No, it's UBS (fka Union Bank of Switzerland), not UFB. A completely different entity.
Reply
Last edited by jacksan1 March 19, 2023 at 06:14 PM.
Joined Dec 2017
L4: Apprentice
> bubble2 473 Posts
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Joedaddy123
03-19-2023 at 06:36 PM.
03-19-2023 at 06:36 PM.
Quote from alchemista :
Ufb bought credit suisse this weekend, I think they are fine.
🤣 hahahaha
Reply
Joined Aug 2014
L3: Novice
> bubble2 120 Posts
22 Reputation
samxba
03-19-2023 at 06:46 PM.
03-19-2023 at 06:46 PM.
I'm with Wealthfront at the moment... worth the switch?
Reply
Joined Feb 2004
L7: Teacher
> bubble2 2,565 Posts
460 Reputation
Sunday
03-19-2023 at 06:58 PM.
03-19-2023 at 06:58 PM.
Quote from alchemista :
Ufb bought credit suisse this weekend, I think they are fine.
excellent
1
Reply
Joined Nov 2014
New User
> bubble2 4 Posts
12 Reputation
nansta
03-19-2023 at 11:01 PM.
03-19-2023 at 11:01 PM.
I moved well above the limit in one month, you just need to let them know ahead of time. It took a week for it to transfer.
Reply
Joined Jun 2019
L3: Novice
> bubble2 139 Posts
18 Reputation
DavidsAwesome
03-20-2023 at 05:18 AM.
03-20-2023 at 05:18 AM.
Are they owned by Axos bank? Their website says "At Axos bank your security is our top concern" wtf

Edit: It appears so, but why mix up the bank names?
Reply
Joined Dec 2011
L7: Teacher
> bubble2 2,061 Posts
135 Reputation
nevergoodenough
03-20-2023 at 06:45 AM.
03-20-2023 at 06:45 AM.
This looks super sketchy the website looks like it was designed in 1997. Other than that once you login it says Axos bank. If I get scammed I'm suing the company that owns SD.

I opened my account on Fri and transfered funds from Capital One. Now capital One sent the money but it won't appear at axos/ufb until the 24th so that's 4 days of no interest at minimum. Prob just gonna go back to Capital One. Less interest but at least it's real and doesn't have all these hurdles.
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Joined Dec 2011
L7: Teacher
> bubble2 2,061 Posts
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nevergoodenough
03-20-2023 at 06:52 AM.
03-20-2023 at 06:52 AM.
Maybe I'm just dumb but I think I'll just go back to Capital One. A real life bank I could get my money from up the street even though it's only at 3.4 apy
Reply
Joined Jul 2017
L5: Journeyman
> bubble2 559 Posts
62 Reputation
chadog900
03-20-2023 at 06:53 AM.
03-20-2023 at 06:53 AM.
A single branch local bank of mine is now offering 5% too... how is this possible when T-Bills of every variety are under 5%? How do they even make money at those rates? I'm at a bigger regional bank right now at 4% and have other monies in 4.5% 13 week bills.
Reply
Joined Dec 2011
L7: Teacher
> bubble2 2,061 Posts
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nevergoodenough
03-20-2023 at 06:59 AM.
03-20-2023 at 06:59 AM.
Quote from chadog900 :
A single branch local bank of mine is now offering 5% too... how is this possible when T-Bills of every variety are under 5%? How do they even make money at those rates? I'm at a bigger regional bank right now at 4% and have other monies in 4.5% 13 week bills.
sign up and you'll find out lol.
Reply
Joined Jun 2010
L5: Journeyman
> bubble2 549 Posts
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ramblers
03-20-2023 at 07:19 AM.
03-20-2023 at 07:19 AM.
Quote from Richard24 :
bought a low duration CD on schwab with a higher rate this morning, not sure why this is front page
How low?
Reply
Joined Jun 2010
L5: Journeyman
> bubble2 549 Posts
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ramblers
03-20-2023 at 07:32 AM.
03-20-2023 at 07:32 AM.
Quote from CharltonC5097 :
Same, mines shows 0%. Needs money in it?
I assume you mean 5.02.
Reply
Joined Jun 2010
L5: Journeyman
> bubble2 549 Posts
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ramblers
03-20-2023 at 07:45 AM.
03-20-2023 at 07:45 AM.
I am concerned about the relatively low transfer limits with UFB. Can somone tell me if there is still a limit if I am pulling from my other bank? I understand there is always the wire option which has no limits.
Reply
Joined Dec 2011
L7: Teacher
> bubble2 2,061 Posts
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nevergoodenough
03-20-2023 at 07:54 AM.
03-20-2023 at 07:54 AM.
personally I have concerns that this isn't a legit operation and they will end up stealing my money. Between UFB and their claims of Axos bank (which is not a BM bank) how can I be sure this money won't get stolen?
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Joined Jun 2010
L5: Journeyman
> bubble2 549 Posts
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ramblers
03-20-2023 at 11:12 AM.
03-20-2023 at 11:12 AM.
Quote from Deal Explorer :
It doesn't even have to be a joint account to qualify for the $500K FDIC insurance limit. Just name someone as a beneficiary for that account.
You would need two beneficiaries for 500k. The account would also need to termed a "Trust" or "POD" account as stated on the FDIC website.

I used to keep more than 250k in one account using multiple beneficiaries but have decided I don't want to trust that method.
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