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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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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 shows up as axos bank when I linked an external account via capital one and if that's not enough for you, axos bank sent me a survey about my ufb interaction after I pulled my funds.
The only problem with UFB is that they rename their savings account often when they increase the rate you have to call in to get the upgraded account, but the account numbers stay the same. It's easy though. If you don't upgrade, you'll stay at the older interest rate.
Also, AXOS is a publicly traded bank and its stock price has remained strong through the recent banking anxiety.
Our community has rated this post as helpful. If you agree, why not thank ys0802
My experience:
1. For faster transfer, add your UFB account to your Non UFB account (external), and push from there. It should take max. 2-3 business days. From my SoFi account, if I schedule it around 8 AM PST, I can see funds in my UFB account the same day around 4 PM PST. It's almost like wire.
2. Sameway, you can pull funds from UFB account. SoFi takes same day for $1000, or 2-3 days for any higher amount. No need to wait for a week.
3. You can also add UFB Money Market Debit card to zelle app, you can transfer in any amount that your external bank permits per day using Zelle. For Transfer out, there is limit imposed by Zelle for $500 per week.
4. Some banks offer free Wire, like Fidelity spend, PNC bank etc, that's the fastest way too.
Understood, their message responses are very slow. Call wait times are very high. But its ok. At times, Bank of America also keeps me waiting for 20 mins or so.
You can't beat this rate.. no one else is providing.
Again, funds are FDIC Insured up to $250,000 so chillax and enjoy...
The only problem with UFB is that they rename their savings account often when they increase the rate you have to call in to get the upgraded account, but the account numbers stay the same. It's easy though. If you don't upgrade, you'll stay at the older interest rate.
Also, AXOS is a publicly traded bank and its stock price has remained strong through the recent banking anxiety.
Have you figured out a best way to keep track of when UFB offers a new savings account with a higher interest rate?
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The customer service horror stories are concerning to read but as others have said, just use UFB to park funds that you do not anticipate needing to use for a while. Stick with your existing banks and their higher levels of customer service for regular checking and savings.
Yes I already checked UFB on DoC but unfortunately not enough dp https://www.doctorofcre
And it seems like most ppl opened the savings acct version instead of the mma even though it's the same rate...I would think the mma would be better than the savings acct?
Yes I already checked UFB on DoC but unfortunately not enough dp https://www.doctorofcre
And it seems like most ppl opened the savings acct version instead of the mma even though it's the same rate...I would think the mma would be better than the savings acct?
I wired in my funds but am curious, why do you think the mma would be better than the savings account?
Their reply to ur question:
1.Check writing option is available in Money Market but not in Savings Account.
2.Bill pay option available in Money Market but not in Savings Account.
Their reply to ur question:
Well yes, that's the differences but doesn't automatically make one better. For me it's just a place to park money for a high and safe interest rate so none of those differences mean anything. I thought you might have another reason.
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