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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 02:57 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 12:46 PM
by LD7 | Staff
in
Finance
Axos Bank
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These responses are not provided or commissioned 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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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 the UFB Back website sites:
"Bank products and services are offered by Axos Bank®. All deposit accounts through Axos Bank brands are FDIC insured through Axos Bank."
But then you can't find any mention of UFB on the Axos website nor the FDIC website, how can you confirm they are really FDIC insured??
It's wild in here.
FDIC insured, just need some debit card transactions monthly to qualify for rate.
When the UFB Back website sites:
"Bank products and services are offered by Axos Bank®. All deposit accounts through Axos Bank brands are FDIC insured through Axos Bank."
But then you can't find any mention of UFB on the Axos website nor the FDIC website, how can you confirm they are really FDIC insured??
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FDIC insured, just need some debit card transactions monthly to qualify for rate.
My experience is only 5 days but it's been fine so far. Wired money on Friday and it showed up quickly. Accrued interest shows the right amount through Monday and I had linked my Wells Fargo acct with a $10 test withdrawal yesterday which showed up today on both accounts. I'd also set up a UFB alert for any withdrawals over $1 and I did get both a text and email when that $10 went out.
This is a place to park money. It's not an account for someone needing to make a lot of withdrawals or deposits. Needing to monitor the interest rates is the only pita that I see so far. Anyone have suggestions on the easiest way to do that?
I'll answer your question on suggestions if monitoring for higher pay
bookmark the page showing their rates and check once a week or set up an alert on SD.
I'll answer your question on suggestions if monitoring for higher pay
bookmark the page showing their rates and check once a week or set up an alert on SD.
I wired money on Friday afternoon and it took some hours but it did show up in the UFB account late that same afternoon. The math indicates that I received interest for that day as well. I'm on the East Coast and UFB is on the West Coast (I think) so that might have made a difference if they credited the wire by a certain time in the afternoon.
When I looked yesterday evening, Monday's interest had not yet accrued in my UFB account but it was there this morning so I'm assuming it comes in at the end of the day.
Being lazy and forgetful, I was hoping for something more automatic to track rates but maybe an alert on SD will do that for me. Thanks.
My issue is I pulled the funds out of capital one on 3.20 and they had them pending until 3/23. They told me I'm not going to get interest during this time but my accrued interest was showing on Thursday night as 8.55. On Monday morning they updated to 10.55 so I'm really not sure how they did that but it made me highly suspicious so I pulled the funds. On the other hand, this is obviously a much better return than capital one offers at 3.4 so I'm considering putting them back. I'm honestly undecided at this point.
My issue is I pulled the funds out of capital one on 3.20 and they had them pending until 3/23. They told me I'm not going to get interest during this time but my accrued interest was showing on Thursday night as 8.55. On Monday morning they updated to 10.55 so I'm really not sure how they did that but it made me highly suspicious so I pulled the funds. On the other hand, this is obviously a much better return than capital one offers at 3.4 so I'm considering putting them back. I'm honestly undecided at this point.
I'm not checking that often but it seems like it gets updated at the end of the day. What will really tell is at the end of the month when the interest is credited. Then the math will tell me how many days were counted. Wiring the funds in is faster but it did cost wire fees so only worth it if you have a substantial amount. The Wells Fargo fee was $30 and chat had told me the UFB incoming wire fee was $35 but that hasn't shown up in my account (yet).
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