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UFB Preferred Savings: Earn Expired
up to 5.02% APY
UFB Direct, our partner, offers the following benefits with their Preferred Savings account:
Slickdeals may be compensated by UFB Direct
- 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
Original Post
Written by
Edited April 13, 2023
at 01:57 PM
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
Created 02-22-2023
at 11:46 AM
by LD7 | Staff
in
Finance
Axos Bank
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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.
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When I did my KYC for UFB it was through the Axos system.
In fact, it had my Axos investment account profile/information pre-populated.
If feds raise rates next week as UFB expected Ivybank will be in the 5% also
Currently 4.75% Annual Percentage Yield (APY)
the rate for this account is determined by the 1 Month Treasury Par Yield as published by the U.S. Department of the Treasury's Daily Treasury Par Yield Curve Rates on the first business day after the 15th of the month.
Using the external transfer feature online, within the first 120 days the external outbound transfer limit is $25,000 per transaction up to $100,000 a month.
After 120 days, this gets increased to $100,000 a day up to $500,000 a month. The inbound limit is $250,000 per transaction up to $1,000,000 a month.
No checks or ATM cards but not an issue for me.
NOPE, it is going down starting 4/1!!!
You can say Good bye to the 4.75 Ivy rate come 4/1, as it's determined by the 1 month t-bill on the 15th of this month for next month(look on the ivy site , it's very clear how the rate is determined each month!), so, it will only be aprox a 4.3% apy come 4/1. If you want a good bank that is always top 3 in rates try CFG, I really like them and there yield right now is 4.8% on savings and they always keep up with rate increases almost immediately.... also , nice cd rates as well(ie. 1 yr cd is 4.15%, etc)...
You can say Good bye to the 4.75 Ivy rate come 4/1, as it's determined by the 1 month t-bill on the 15th of this month for next month(look on the ivy site , it's very clear how the rate is determined each month!), so, it will only be aprox a 4.3% apy come 4/1. If you want a good bank that is always top 3 in rates try CFG, I really like them and there yield right now is 4.8% on savings and they always keep up with rate increases almost immediately.... also , nice cd rates as well(ie. 1 yr cd is 4.15%, etc)...
that is good move, I do think shorter term cd's will tick up a bit as I do feel fed will increase by .25% this week but after that No one knows what will happen w/ future rate moves... If banks fall apart, fed will then pause .... problem is inflation is still at 6%.. I am going to move $$$ out of ivy account by months end to another bank as the rate will be so much lower by 4/1 at that ivy account, the savings they offer will prob be higher by then!
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https://www.bbb.org/us/ca/san-die...-172001827
https://www.bbb.org/us/ca/san-die...-172001827
Over this UFB 5%?
"Limitations on Withdrawals
The Bank may choose to impose limits on the number of certain types of withdrawals and transfers you can make each month
from your savings or money market account. Please note, that these limits do not apply to withdrawals or transfers made at a
branch, by mail or at an ATM. You can make no more than a combined total of six (6) per month or monthly statement cycle
(subject to Available Balance) from among the following:
• Preauthorized transfers (including transfers for overdraft protection)
• Telephone transfers or other electronic transmissions
• Online Banking and Mobile Banking transfers or bill payment transfers
• Transfers by check, draft, debit card, if allowed on your savings account
• We count checks for the purposes of transaction limitations as of the date the check posts to your account (not as of
the date you write them)
I don't see anything in there about unlimited wire transfers. Could I pull the entire $250k out at once with a wire?
"Limitations on Withdrawals
The Bank may choose to impose limits on the number of certain types of withdrawals and transfers you can make each month
from your savings or money market account. Please note, that these limits do not apply to withdrawals or transfers made at a
branch, by mail or at an ATM. You can make no more than a combined total of six (6) per month or monthly statement cycle
(subject to Available Balance) from among the following:
• Preauthorized transfers (including transfers for overdraft protection)
• Telephone transfers or other electronic transmissions
• Online Banking and Mobile Banking transfers or bill payment transfers
• Transfers by check, draft, debit card, if allowed on your savings account
• We count checks for the purposes of transaction limitations as of the date the check posts to your account (not as of
the date you write them)
I don't see anything in there about unlimited wire transfers. Could I pull the entire $250k out at once with a wire?
Not sure about wires but there are ACH transfer limits if initiated from UFB. However, I confirmed that you can transfer out more if initiated from the other bank. That amount depends on the other bank's transfer limits. I have UFB and just transferred out over 200k using Capital One as the initiator. You can use ACH if you don't mind the longer transfer time.
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Yup, as long as you have an account with Capital One. Capital One, Ally and Synchrony all have high transfer limits, and I personally use those banks to initiate transfers. They work great as hub banks, which allows me to work around lower transfer limit banks like UFB, chase, etc.