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UFB Portfolio Savings: Earn Expired

up to 5.15% APY
+115 Deal Score
265,097 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 11:43 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 03:49 PM by EfficientGame645
in Finance Axos Bank
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Deal
Score
+115
265,097 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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Featured Comments

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 Aug 2009
L3: Novice
> bubble2 140 Posts
22 Reputation
peste19
01-28-2024 at 10:15 AM.
01-28-2024 at 10:15 AM.
Quote from catman17 :
Then just connect your other institutions from their side?

Yes but then you are stuck with the ACH transfer limits, which I believe is usually around 10k a month for most banks.

For me it's not worth the hassle and I'm not comfortable with plaid but people with less security concerns than me might be a good fit
Reply
Joined Apr 2022
L28: Advanced
> bubble2 1,167 Posts
144 Reputation
RedvinesRBetter
01-28-2024 at 12:20 PM.
01-28-2024 at 12:20 PM.
Quote from nyc10036 :
$60K a month limit is a deal breaker.

Yeah that's bad but honestly I'm just looking to FDIC protect money beyond the 250K at CIT bank. I've always had several money markets accounts. Just make you have one with good transfer limits and one that can transfer money quickly.
Reply
Joined Jun 2019
New User
> bubble2 13 Posts
10 Reputation
MattC9
01-30-2024 at 01:16 PM.
01-30-2024 at 01:16 PM.
Quote from BullittEV :
Thanks, too bad.
I have this account and this NOT my experience. I have sent wires far in access of 30K.

Here is the text from the "about wire" link on the send money page:
Quote :
What if I need to make a transfer above these dollar limits?
If you need to make an external transfer that is over these dollar limits, please submit a Wire Transfer. There is no limit to the amount of money you can wire to an external account in your name as long as the funds are available in your account. Note: A wire transfer fee will be assessed by UFB Direct and there may also be a wire transfer fee assessed by the other financial institution.
Reply
Joined Jun 2019
New User
> bubble2 13 Posts
10 Reputation
MattC9
01-30-2024 at 01:17 PM.
01-30-2024 at 01:17 PM.
Quote from caspersdeals :
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 did have my rate go down around june/july 2023. But i messaged and got it re-uped right away in August 2023
Reply
Joined Apr 2018
L11: This one goes to 11.
> bubble2 214 Posts
391 Reputation
bestdealgirl
01-31-2024 at 06:42 AM.
01-31-2024 at 06:42 AM.
I've used this bank for about two years.

It is one of the more difficult banks to do business with. Time delays in deposits and withdrawals. Hard to reach customer service. Just not customer friendly. If you have some money that you just don't need for a while, this might be a decent solution BUT make sure you check in on the account every couple of months to make sure the rate hasn't been lowered, etc.

I prefer CITbank even though you are not making as much in interest. (Right now only a 0.0020 difference). Also, sometimes CITbank will match competitors... although they wouldn't match this rate in December.
Reply
Joined Dec 2017
L1: Learner
> bubble2 17 Posts
52 Reputation
beachpatrol
02-02-2024 at 06:30 PM.

Our community has rated this post as helpful. If you agree, why not thank beachpatrol

02-02-2024 at 06:30 PM.
Quote from nyc10036 :
$60K a month limit is a deal breaker.

The initiating bank sets the max transfer limits. I use capital one to ach pull/push transfers from ufb so I can take out more than ufb's max 60k
1
Reply
Joined Feb 2021
L6: Expert
> bubble2 1,847 Posts
308 Reputation
nyc10036
02-02-2024 at 07:03 PM.
02-02-2024 at 07:03 PM.
Quote from beachpatrol :
The initiating bank sets the max transfer limits. I use capital one to ach pull/push transfers from ufb so I can take out more than ufb's max 60k
Thanks.

This is great to know.
Reply

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Joined Nov 2022
L2: Beginner
> bubble2 42 Posts
14 Reputation
HughBalzonia
02-02-2024 at 08:08 PM.
02-02-2024 at 08:08 PM.
Quote from rhaug :
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.

Also wondering that
Reply
Joined Dec 2011
L6: Expert
> bubble2 1,659 Posts
270 Reputation
jjl212
02-03-2024 at 11:58 AM.
02-03-2024 at 11:58 AM.
Raisin is much better and higher rates
Reply
Joined Dec 2010
L5: Journeyman
> bubble2 786 Posts
74 Reputation
TMA-1
02-03-2024 at 06:12 PM.
02-03-2024 at 06:12 PM.
Great rate but interesr gets hammered at your top state and federal tax rate plus 3.8% ACA tax that adds up to over 50% for me, with the market ripping and SGOV paying close to 5% dividend (which you can reinvest tax free) there may be better options with nearly equal liquidity
Reply
Joined Dec 2017
L4: Apprentice
> bubble2 484 Posts
359 Reputation
Joedaddy123
02-03-2024 at 06:25 PM.
02-03-2024 at 06:25 PM.
Quote from TMA-1 :
Great rate but interesr gets hammered at your top state and federal tax rate plus 3.8% ACA tax that adds up to over 50% for me, with the market ripping and SGOV paying close to 5% dividend (which you can reinvest tax free) there may be better options with nearly equal liquidity
Man, your net tax rate is over 50%? Not many can relate to you on SD.
Reply
Last edited by Joedaddy123 February 5, 2024 at 01:15 PM.
Joined Aug 2010
B!tch Please
> bubble2 6,273 Posts
641 Reputation
Truth-Serum
02-05-2024 at 01:14 PM.
02-05-2024 at 01:14 PM.
Key words "up to"
Reply
Joined May 2019
L4: Apprentice
> bubble2 382 Posts
38 Reputation
upx
02-05-2024 at 11:24 PM.
02-05-2024 at 11:24 PM.
I've been with them for many years.
But they do scummy, nickel & dime crap sometimes.
I just tried to close my acct with them and the hassle is annoying AF.
Reply
Joined Dec 2010
L5: Journeyman
> bubble2 786 Posts
74 Reputation
TMA-1
02-06-2024 at 01:36 PM.
02-06-2024 at 01:36 PM.
Quote from Joedaddy123 :
Man, your net tax rate is over 50%? Not many can relate to you on SD.
You're effective tax rate on interest is probably much higher than you think - federal income tax is 24% on income between $100 - 192k, most states have income tax between 5-7% on income above $20k
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Joined Dec 2017
L4: Apprentice
> bubble2 484 Posts
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Joedaddy123
02-06-2024 at 02:57 PM.
02-06-2024 at 02:57 PM.
Quote from TMA-1 :
You're effective tax rate on interest is probably much higher than you think - federal income tax is 24% on income between $100 - 192k, most states have income tax between 5-7% on income above $20k
At what income amount do you hit 50%?
Effective tax rate on interest income is my effective tax rate.. no more no less than what I think 😂

I was just surprised that someone at 50% tax rate would associate with us SD peasants. Smilie
Reply
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