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I have this account, started a few months ago. Only drawback I've found is that if/when they increase the interest rate on their accounts, you have to manually request an increase each time. I started at 5.03%, now requested an increase to 5.25%. I messaged them in the app at 4:53pm, they responded and updated my rate at 5:03pm (exactly 10 min). I'm ok doing a couple minutes worth of work a couple/few times a year to maintain the highest percentage. Works exactly as promised otherwise, great rates.
As per their website FAQ...
The dollar limits at funding are:
Maximum to transfer in: $250,000.00
The dollar limits after your account is funded are:
Maximum per day in or out $30,000.00
Maximum per month $60,000.00
You may not make funds transfers in excess of limits described on the External Bank Transfer service.
We reserve the right to change from time to time the dollar amount of funds transfers you are permitted to make using our service.
I had the same experience today. Happened to check my account and found that my 5.09% rate had been downgraded to 4.5%. I spoke to CS on the phone and they raised my rate to 5.25%. I asked what the deal was with lowering my interest rate when rates are rising -- including the rates they offer new customers. He said that I just have to check my account every week or so to see if they do it again!
So basically, this is a great account for folks willing to call them on their BS. Apparently enough customers don't do that to make it worthwhile for them to play games like this.
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Our community has rated this post as helpful. If you agree, why not thank madrascaldavid
08-11-2023 at 05:11 PM.
I have this account, started a few months ago. Only drawback I've found is that if/when they increase the interest rate on their accounts, you have to manually request an increase each time. I started at 5.03%, now requested an increase to 5.25%. I messaged them in the app at 4:53pm, they responded and updated my rate at 5:03pm (exactly 10 min). I'm ok doing a couple minutes worth of work a couple/few times a year to maintain the highest percentage. Works exactly as promised otherwise, great rates.
Our community has rated this post as helpful. If you agree, why not thank nevergoodenough
08-11-2023 at 05:32 PM.
I have no idea why people have an issue with UFB. I opened an account back in March and haven't had any issues. I get paid every month and I have called axos bank quite a few times regarding my account and got English speaking professional help. Also never had an issue with large money transfers initiated from an external account. Transfered 25k in one day.
This account makes more money than my capital one CD and that money is tied up for like 8 months to go.
I have no idea why people have an issue with UFB. I opened an account back in March and haven't had any issues. I get paid every month and I have called axos bank quite a few times regarding my account and got English speaking professional help. Also never had an issue with large money transfers initiated from an external account. Transfered 25k in one day.
This account makes more money than my capital one CD and that money is tied up for like 8 months to go.
Doesnt work for people like me where I want access to all of my cash immediately (house down payment). Still using PNC @ 4.65% for that reason.
what about limit on transactions per month. My Discovey Money Market account limits transactions to just 6. Supposedly these rules for MM were suspended during Covid. Though Discovery still will penalize you for more than 6.
does Ufb also offer check writing? I do have check writing with Discovery.
I have no idea why people have an issue with UFB. I opened an account back in March and haven't had any issues. I get paid every month and I have called axos bank quite a few times regarding my account and got English speaking professional help. Also never had an issue with large money transfers initiated from an external account. Transfered 25k in one day.
This account makes more money than my capital one CD and that money is tied up for like 8 months to go.
You shouldn't be limited from removing all of your money in a month if you want.
what about limit on transactions per month. My Discovey Money Market account limits transactions to just 6. Supposedly these rules for MM were suspended during Covid. Though Discovery still will penalize you for more than 6.
does Ufb also offer check writing? I do have check writing with Discovery.
No checking writing. No checking accounts at all.
No limit on the number of transactions.
No checking writing. No checking accounts at all.
No limit on the number of transactions.
they have a hy savings and a hy money market. It seems like hy MM allows check writing. But no info on limits for transaction on MM. I wonder what is difference between savings and MM. I click on compare differences but there really not much info.
they have a hy savings and a hy money market. It seems like hy MM allows check writing. But no info on limits for transaction on MM. I wonder what is difference between savings and MM. I click on compare differences but they're really not much info.
okay there maybe fees for MM
Enjoy no monthly maintenance fees with a $5,000.00 balance, otherwise fee is $10.00 per month.
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The dollar limits at funding are:
Maximum to transfer in: $250,000.00
The dollar limits after your account is funded are:
Maximum per day in or out $30,000.00
Maximum per month $60,000.00
You may not make funds transfers in excess of limits described on the External Bank Transfer service.
We reserve the right to change from time to time the dollar amount of funds transfers you are permitted to make using our service.
https://www.ufbdirect.c
So basically, this is a great account for folks willing to call them on their BS. Apparently enough customers don't do that to make it worthwhile for them to play games like this.
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Our community has rated this post as helpful. If you agree, why not thank freshsqueezed
The dollar limits at funding are:
Maximum to transfer in: $250,000.00
The dollar limits after your account is funded are:
Maximum per day in or out $30,000.00
Maximum per month $60,000.00
You may not make funds transfers in excess of limits described on the External Bank Transfer service.
We reserve the right to change from time to time the dollar amount of funds transfers you are permitted to make using our service.
https://www.ufbdirect.c
The dollar limits at funding are:
Maximum to transfer in: $250,000.00
The dollar limits after your account is funded are:
Maximum per day in or out $30,000.00
Maximum per month $60,000.00
You may not make funds transfers in excess of limits described on the External Bank Transfer service.
We reserve the right to change from time to time the dollar amount of funds transfers you are permitted to make using our service.
https://www.ufbdirect.c
Our community has rated this post as helpful. If you agree, why not thank madrascaldavid
Our community has rated this post as helpful. If you agree, why not thank nevergoodenough
This account makes more money than my capital one CD and that money is tied up for like 8 months to go.
This account makes more money than my capital one CD and that money is tied up for like 8 months to go.
Where did you get 4.65% from PNC on a savings? I have PNC also but keep the bulk of my money in UFB for the better rate.
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The dollar limits at funding are:
Maximum to transfer in: $250,000.00
The dollar limits after your account is funded are:
Maximum per day in or out $30,000.00
Maximum per month $60,000.00
You may not make funds transfers in excess of limits described on the External Bank Transfer service.
We reserve the right to change from time to time the dollar amount of funds transfers you are permitted to make using our service.
https://www.ufbdirect.c
does Ufb also offer check writing? I do have check writing with Discovery.
This account makes more money than my capital one CD and that money is tied up for like 8 months to go.
does Ufb also offer check writing? I do have check writing with Discovery.
No limit on the number of transactions.
No limit on the number of transactions.
Enjoy no monthly maintenance fees with a $5,000.00 balance, otherwise fee is $10.00 per month.