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UFB Portfolio Savings: Earn Expired

up to 5.15% APY
+115 Deal Score
261,279 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
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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
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Created 08-11-2023 at 02:49 PM by EfficientGame645
in Finance Axos Bank
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Deal
Score +115
261,279 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.

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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.

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 Dec 2005
L8: Grand Teacher
> bubble2 3,820 Posts
115 Reputation
ms2000
10-20-2023 at 08:51 AM.
10-20-2023 at 08:51 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.
Is there a URL to track historical interest rates of a savings account?
Reply
Joined Dec 2005
L8: Grand Teacher
> bubble2 3,820 Posts
115 Reputation
ms2000
10-20-2023 at 08:53 AM.
10-20-2023 at 08:53 AM.
Quote from ms2000 :
Are there any competing banks than UFB Direct?
It seems that you need to change product to get higher rates with time!
Very annoying
1
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Joined Apr 2020
L10: Grand Master
> bubble2 8,565 Posts
523 Reputation
SlickCrowd6832
10-20-2023 at 05:48 PM.
10-20-2023 at 05:48 PM.
I like using boa merrill edge.... rates are competitive. But right now if you have a preffered money market account.... need 100k to open... you get 5.05%. But there are other options such as buying money market mutual funds but this is not fdic insured but it does follow sec regulations.

I parked most of my money in 3 month cds at 5.45%

And boa cash back card is very good and money in merrill qualifies to reach elite tier for highest cash back.
1
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Joined Jul 2016
L1: Learner
> bubble2 23 Posts
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krayman10
10-21-2023 at 10:17 AM.
10-21-2023 at 10:17 AM.
Is UFB different than Axos? I found Axos to be truly awful and for being an online only bank, had an interface straight out of 2002. If they're anything like Axos, it's not worth the 0.25% more you'll get than going somewhere else.
Reply
Joined Nov 2022
New User
> bubble2 12 Posts
10 Reputation
TheDon69
10-22-2023 at 04:07 PM.
10-22-2023 at 04:07 PM.
Quote from JollyReward108 :
Treasuries income is state and local tax free.

Treasuries have fallen off a cliff over the last 6mo. You principal is WAY down
Reply
Joined Aug 2013
L5: Journeyman
> bubble2 784 Posts
230 Reputation
squatchy
10-22-2023 at 07:25 PM.
10-22-2023 at 07:25 PM.
Popular Direct seems to have the highest rate I could find right now at 5.4% APY
https://www.populardirect.com/pro...te-savings
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Joined Aug 2009
Buy Now. Think Later.
> bubble2 17,452 Posts
8,266 Reputation
Pro
PocketsThick
10-23-2023 at 12:34 AM.
10-23-2023 at 12:34 AM.
Quote from TheDon69 :
Treasuries have fallen off a cliff over the last 6mo. You principal is WAY down
People buy treasuries for the yield. Yields are at 5 year highs right now. Only the 1 month treasuries' yield is slightly down.
Source:
https://www.cnbc.com/bonds/
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Joined Feb 2007
L8: Grand Teacher
> bubble2 3,512 Posts
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sgb
10-23-2023 at 01:00 AM.
10-23-2023 at 01:00 AM.
Quote from TheDon69 :
Treasuries have fallen off a cliff over the last 6mo. You principal is WAY down
Treasuries prices move in the opposite direction from the yields. As rates go up, prices go down. This doesn't matter much if you are buying short-term treasuries and if you are buying for the interest. It matters more if you are buying longer-term treasuries, such as 10 yr or 30 yr. Prices for those have gone down because long-term interest rates have gone up in the last year. That's why many banks got in trouble.
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Joined Dec 2007
L2: Beginner
> bubble2 52 Posts
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beestung
10-23-2023 at 08:54 AM.
10-23-2023 at 08:54 AM.
I opened an account with UFB a week ago and already made more in interest than I had with my Chase savings account over the last 10 years. Not sure why I didn't do this a long time ago.
Reply
Joined Oct 2010
L5: Journeyman
> bubble2 831 Posts
835 Reputation
thefirm
10-23-2023 at 10:01 AM.
10-23-2023 at 10:01 AM.
Quote from freshsqueezed :
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.

https://www.ufbdirect.com/Support/faqs
Thanks for this info. The most important is bank being fdic insured and how much can you transfer in a day.
Reply
Joined May 2021
L5: Journeyman
> bubble2 952 Posts
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JollyReward108
10-23-2023 at 10:23 AM.
10-23-2023 at 10:23 AM.
Quote from TheDon69 :
Treasuries have fallen off a cliff over the last 6mo. You principal is WAY down
That's why I stay in in 28 day bills, and just keep rolling them as rates move up.
Reply
Joined Dec 2014
New User
> bubble2 15 Posts
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icecoolharry
10-23-2023 at 10:30 AM.
10-23-2023 at 10:30 AM.
Quote from JollyReward108 :
That's why I stay in in 28 day bills, and just keep rolling them as rates move up.
How does it work? Please guide me I would like to do something like that but have no idea.
Reply
Joined May 2021
L5: Journeyman
> bubble2 952 Posts
54 Reputation
JollyReward108
10-23-2023 at 10:52 AM.
10-23-2023 at 10:52 AM.
Quote from icecoolharry :
How does it work? Please guide me I would like to do something like that but have no idea.
Go to the Treasury site and research, they explain what it is and how to participate.
Reply
Joined Apr 2020
L10: Grand Master
> bubble2 8,565 Posts
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SlickCrowd6832
10-25-2023 at 07:47 AM.
10-25-2023 at 07:47 AM.
Quote from icecoolharry :
How does it work? Please guide me I would like to do something like that but have no idea.
i like to buy 3 month cds.... my last purchase was at 5.45%. I use bank of America and merrill edge.

Like you might was clueless so I youtubed... how to invest in fixed assets through Merrill.... itmwas very easy after you figure it out.

Youtube is your friend

I also have not done the math but....
Treasuries are exempt from state income taxes, whereas CDs are subject to both federal and state income taxes. As a result, investors who are choosing between the two options should start with what account type they are investing in, and then consider what their state tax rate is.
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Last edited by SlickCrowd6832 October 25, 2023 at 07:53 AM.

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Joined Dec 2021
L3: Novice
> bubble2 197 Posts
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BraveHerring6016
10-27-2023 at 10:25 PM.
10-27-2023 at 10:25 PM.
Not worth the risk
1
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