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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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Never had it decrease, still at 5.25%, just checked.
Same for me, still at 5.25%. Must be all the nay-sayers who are working for other banks that are still providing the wopping .01% APY on savings accounts.
I opened an account. It seems it is all automated. It took about a week for my money to show up. I am a bit nervous about it. As long as you don't mind doing everything yourself, it seems pretty good.
wish the bank will not break in short term , or cap your deposit for less 250k to be safe.
Another risk signal, the real bank has different name than UFB Direct, the bank name is Axos!
I have never had my rate go down, but have had to send them a message when the rate goes up and they will make the change. The update happens in a day or two. The 1099 form has an address of Axos Bank in San Diego, CA which you can access the form from the app. Enjoy!
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.
How did you know that the interest rate had changed?
I have had account with them for over a year just checked and my apy was at 4.5% for some reason. I had to reach out few months ago to get this bumped up, just messaged them and was told it is up to me to monitor and ask for increase? Is that right?
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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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Never had it decrease, still at 5.25%, just checked.
Another risk signal, the real bank has different name than UFB Direct, the bank name is Axos!
How the f do they not allow me to take out my money out if I put 200K. That would mean I have to wait 4 months to take it out? Terrible.
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Milli bank has 5.5% currently with no fees!
For me the issue with Milli as it only uses plaid, even though it takes longer, I prefer the old trial deposit method
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
How did you know that the interest rate had changed?
I saw it on here and then on their landing page. I visit every couple or few weeks just to make sure my rate is current and the highest.
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Then just connect your other institutions from their side?