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Deal Score+115
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up to 5.15% APY
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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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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.
Thanks for the tip! I messaged them and asked to upgrade my account to the latest rates and it was no problem. They said upgrades are always available when new rates come out.
How could they drop your APY without letting you know ?
I checked my account the rate is consistent
yea been with them almost a year and never had rate drops, only had to ask them like 5+ times in past year to increase, i started with them when they were one of the top leaders at 4%, I wonder how much $ are n those accounts that those ppl are getting the rates dropped, are they super high accounts like over 250k so they potentially rob or dont give you $20?
I've been above 5% since the start. At 5.25% now. Messaged them twice in a year about getting the updated rates. It's a same day adjustment. "Rates are subject to change" is made very clear. This is not a scam. To those who are stuck in the 'way things use to be', welcome to the world of competitive online banking.
FWIW, the current rate is shown in the "Account Details" section.
What a joke! Nowhere in your account does it tell you what the interest rate is until you ask via message. Got a reply that my rate is 4.50% whereas when I signed up it was over 5%. Complete scam.
What a joke! Nowhere in your account does it tell you what the interest rate is until you ask via message. Got a reply that my rate is 4.50% whereas when I signed up it was over 5%. Complete scam.
lol i see it on my app and like 2 clicks when I log into the account on web browser
why dont you try again
again all the ppl with % rate drops, are your accounts like 250k+ and they do this to potentially rob you like $20+?
I definitely found it easy to find my rate in the app. My only issue so far has been that they lowered my rate and I didn't catch it right away. I had no problems getting it back up to the even higher advertised rate than I had before via chat. All in all, it's a good place to park money.
They created a new savings account for 5.25% interest and cut my rate on my account to 4.5% (from 5.05%). Very shady business practices, I'd recommend anywhere else with competitive rates. They also tried charging me $10 to send a check for my accrued interest when I closed the account.
lol i see it on my app and like 2 clicks when I log into the account on web browser
why dont you try again
again all the ppl with % rate drops, are your accounts like 250k+ and they do this to potentially rob you like $20+?
Why bother having to babysit a savings account to get the extra .05% interest when you can just use another bank? Save yourself the time of dealing with their nonsense.
Yep, the same thing happened to me too. Opened at 5%, it's down to 4.5% now. No notification, no communication of any kind. Super frustrating. I'm going to play the rate chat game with them too, but I don't plan on staying here long when I find a reasonable alternative. This is all just so silly and unnecessarily shady.
Edit: As with others, a rate change was a breeze when asking. I mentioned how I didn't like how they moved rates down without notification, and they basically said "Your agreement says we can and we do." I let them know that while I know they CAN do it, as a customer, I don't think they SHOULD do it. As I said, I plan on moving this elsewhere shortly. I don't want to reward this BS.
I use raisin (formerly savebetter) now. 5.26% rates, super smooth withdrawal and deposit process. There's a referral bonus as well (up to $125).
I opened several savings accounts (one for my wife and I, and separate accounts for my three children) with UFB several months ago, and have been largely pleased. Both the app and web site work well, mobile deposits usually go without a hitch, transfers have gone smoothly, etc.
I did have an issue with depositing checks made payable to my wife because she goes by her middle name... they kept getting rejected because of the name mismatch. I had a very frustrating time dealing with their support team which involved several emails and phone calls back and forth before finally getting one person who understood the actual problem (others kept wanting to process a name change on the account, etc.), but it was resolved quickly once we reached that point.
Glad to know that I can up my 4.5% APR to the current offering.
Sounds cook with me. You should open a bank, then we'll talk.
What? You can move all of your money from virtually any other bank any any time - not be limited by how much you can withdraw. Sorry I called you out on your bank's policies. The maximum out per month policy is absurd.
What a joke! Nowhere in your account does it tell you what the interest rate is until you ask via message. Got a reply that my rate is 4.50% whereas when I signed up it was over 5%. Complete scam.
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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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I checked my account the rate is consistent
yea been with them almost a year and never had rate drops, only had to ask them like 5+ times in past year to increase, i started with them when they were one of the top leaders at 4%, I wonder how much $ are n those accounts that those ppl are getting the rates dropped, are they super high accounts like over 250k so they potentially rob or dont give you $20?
In process of contacting CS to get it bumped up to the new 5.25% rate, but it is a bit annoying having to babysit the rate.
Where do you see the interest rate ?
FWIW, the current rate is shown in the "Account Details" section.
why dont you try again
again all the ppl with % rate drops, are your accounts like 250k+ and they do this to potentially rob you like $20+?
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why dont you try again
again all the ppl with % rate drops, are your accounts like 250k+ and they do this to potentially rob you like $20+?
Sounds cook with me. You should open a bank, then we'll talk.
Edit: As with others, a rate change was a breeze when asking. I mentioned how I didn't like how they moved rates down without notification, and they basically said "Your agreement says we can and we do." I let them know that while I know they CAN do it, as a customer, I don't think they SHOULD do it. As I said, I plan on moving this elsewhere shortly. I don't want to reward this BS.
I did have an issue with depositing checks made payable to my wife because she goes by her middle name... they kept getting rejected because of the name mismatch. I had a very frustrating time dealing with their support team which involved several emails and phone calls back and forth before finally getting one person who understood the actual problem (others kept wanting to process a name change on the account, etc.), but it was resolved quickly once we reached that point.
Glad to know that I can up my 4.5% APR to the current offering.
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