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UFB Portfolio Savings: Earn Expired

up to 5.15% APY
+115 Deal Score
261,329 Views
UFB Direct, our partner, offers the following benefits with their UFB Portfolio Savings account:
  • Earn up to 5.25% -> now $5.15% APY*.
  • No monthly maintenance fees.
  • No minimum deposit requirement
  • Complimentary ATM card
  • Digital tools for seamless remote banking
  • Free transfers between direct deposit accounts
Thanks to staff member EfficientGame645 for finding this deal.

Slickdeals may be compensated by UFB Direct

Original Post

Written by
Edited September 19, 2024 at 10:43 AM by
UFB Direct our partner, offers the following benefits with their UFB Secure Savings account:
  • Earn up to 5.25% 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
Created 08-11-2023 at 02:49 PM by EfficientGame645
in Finance Axos Bank
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+115
261,329 Views
up to 5.15% APY
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. 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.

454 Comments

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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 $30,000.00โ€ฏ

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.com/Support/faqs
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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Joined Sep 2008
L3: Novice
> bubble2 133 Posts
22 Reputation
ComradeSeven
09-27-2023 at 10:21 AM.
09-27-2023 at 10:21 AM.
Quote from madrascaldavid :
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.
Reply
Joined Feb 2009
L3: Novice
> bubble2 259 Posts
32 Reputation
fxclm5
09-27-2023 at 12:49 PM.
09-27-2023 at 12:49 PM.
Quote from cgigate :
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?
Reply
Joined Nov 2005
L5: Journeyman
> bubble2 574 Posts
406 Reputation
Kirabird
09-27-2023 at 07:10 PM.
09-27-2023 at 07:10 PM.
Quote from TurboMann :
Just logged into my account and noticed I was lowered from my previous 5.02% rate to 4.5% with no warning.

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 ?
Reply
Joined Mar 2009
L3: Novice
> bubble2 216 Posts
129 Reputation
bottsjw
09-27-2023 at 07:52 PM.
09-27-2023 at 07:52 PM.
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.
1
Reply
Joined Nov 2005
L5: Journeyman
> bubble2 574 Posts
406 Reputation
Kirabird
09-28-2023 at 05:38 AM.
09-28-2023 at 05:38 AM.
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.
1
Reply
Joined Feb 2009
L3: Novice
> bubble2 259 Posts
32 Reputation
fxclm5
09-28-2023 at 01:10 PM.
09-28-2023 at 01:10 PM.
Quote from Kirabird :
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 laugh out loud

again all the ppl with % rate drops, are your accounts like 250k+ and they do this to potentially rob you like $20+?
1
Reply
Joined Oct 2008
L2: Beginner
> bubble2 86 Posts
37 Reputation
SJ246C
09-28-2023 at 02:22 PM.
09-28-2023 at 02:22 PM.
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.
Reply

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Joined Jul 2017
New User
> bubble2 9 Posts
10 Reputation
waldo6238
09-28-2023 at 07:43 PM.
09-28-2023 at 07:43 PM.
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.
1
Reply
Joined Jul 2017
New User
> bubble2 9 Posts
10 Reputation
waldo6238
09-28-2023 at 07:47 PM.
09-28-2023 at 07:47 PM.
Quote from fxclm5 :
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.
Reply
Joined Jul 2018
L4: Apprentice
> bubble2 408 Posts
47 Reputation
SlickHamster613
09-29-2023 at 04:06 AM.
09-29-2023 at 04:06 AM.
Quote from incarnate :
You shouldn't be limited from removing all of your money in a month if you want.

Sounds cook with me. You should open a bank, then we'll talk.
1
Reply
Joined Jul 2010
L6: Expert
> bubble2 1,401 Posts
235 Reputation
MadJukes
09-29-2023 at 07:29 AM.
09-29-2023 at 07:29 AM.
Quote from Aphex242 :
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).
Reply
Joined Jan 2018
L1: Learner
> bubble2 79 Posts
166 Reputation
lucaswalther
09-29-2023 at 12:48 PM.
09-29-2023 at 12:48 PM.
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.
1
Reply
Joined Oct 2009
L8: Grand Teacher
> bubble2 3,766 Posts
1,361 Reputation
CoronaKid
09-29-2023 at 02:39 PM.
09-29-2023 at 02:39 PM.
Quote from UniqueAlpaca719 :
Money market isn't guaranteed by the Fed. Savings account is.
Not always the case. Many MMs are considered MMDAs and are in fact insured by the FDIC up to 250K.
2
Reply
Joined Jun 2010
L6: Expert
> bubble2 1,277 Posts
389 Reputation
Pro
incarnate
09-30-2023 at 05:52 AM.
09-30-2023 at 05:52 AM.
Quote from SlickHamster613 :
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.
Reply
Last edited by incarnate September 30, 2023 at 05:57 AM.

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Joined Dec 2008
L4: Apprentice
> bubble2 327 Posts
67 Reputation
RacerxxLP
09-30-2023 at 06:40 AM.
09-30-2023 at 06:40 AM.
Quote from Kirabird :
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.
It's under account details. Super easy to find.
Reply
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