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UFB Portfolio Savings: Earn Expired

up to 5.15% APY
+115 Deal Score
279,925 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
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Deal
Score
+115
279,925 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 $30,000.00 

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 Oct 2011
L5: Journeyman
> bubble2 631 Posts
56 Reputation
maingey
03-22-2024 at 10:02 AM.
03-22-2024 at 10:02 AM.
trying to learn a bit. Would this be a good account option for a 13 yo that has about $1000 cash to setup first account? Not planning to withdraw, mostly to deposit?
Reply
Joined Dec 2017
L5: Journeyman
> bubble2 508 Posts
363 Reputation
Joedaddy123
03-22-2024 at 10:18 AM.
03-22-2024 at 10:18 AM.
Quote from maingey View quoted comment :
trying to learn a bit. Would this be a good account option for a 13 yo that has about $1000 cash to setup first account? Not planning to withdraw, mostly to deposit?
I would get one at a bigger bank with good online presence like Fidelity, Capital Ond, Charles Schwab, etc. make sure they have decent rates.

I say this because young people would probably like a little more fancy websites and charts to see their money growing. They can figure it out on their own if that means nothing and will chase rates like us fools.
Reply
Joined Oct 2011
L5: Journeyman
> bubble2 631 Posts
56 Reputation
maingey
03-22-2024 at 12:05 PM.
03-22-2024 at 12:05 PM.
Thanks for the advice! I'll look through forums to see if there is one a bit more familiar to get him started.
Reply
Joined Oct 2011
L5: Journeyman
> bubble2 631 Posts
56 Reputation
maingey
03-22-2024 at 12:05 PM.
03-22-2024 at 12:05 PM.
Quote from Joedaddy123 View quoted comment :
I would get one at a bigger bank with good online presence like Fidelity, Capital Ond, Charles Schwab, etc. make sure they have decent rates.

I say this because young people would probably like a little more fancy websites and charts to see their money growing. They can figure it out on their own if that means nothing and will chase rates like us fools.

Thanks for the advice! I'll look through forums to see if there is one a bit more familiar to get him started.
Reply
Joined Nov 2017
L3: Novice
> bubble2 112 Posts
26 Reputation
crisplyvague
03-24-2024 at 11:49 AM.
03-24-2024 at 11:49 AM.
Quote from nyc10036 View quoted comment :
$60K a month limit is a deal breaker.
You can always do a pull from a linked account that is only limited by the puller bank. I was able to pull $150k in 1-2 days from UFB to Ally when initiated from Ally for example. Their limit is $500,000 in inward transfers per day, at least for an established account.
Reply
Joined Nov 2017
L3: Novice
> bubble2 112 Posts
26 Reputation
crisplyvague
03-24-2024 at 11:53 AM.
03-24-2024 at 11:53 AM.
I like USFR ETF, which is 5.37% at of today, and holds 100% short term treasuries. There is no state/local income tax on these holdings. It will take 2 days to settle when sold if you need to convert to cash but otherwise is as good as cash.
Reply
Joined Dec 2007
L5: Journeyman
> bubble2 634 Posts
70 Reputation
rollersk8
03-24-2024 at 03:49 PM.
03-24-2024 at 03:49 PM.
Quote from caldog101 View quoted comment :
This for quick access to cash and treasuries for tax benefits. Between the 2 of them earning 5.25% it's a great place to park savings
Can you please explain what treasuries to buy and where to buy it?
Reply

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Joined Jun 2016
L2: Beginner
> bubble2 54 Posts
26 Reputation
Nefalex
03-24-2024 at 08:09 PM.
03-24-2024 at 08:09 PM.
Quote from lomei View quoted comment :
I just spoke with one of their reps. They can approve higher limits for certain accounts on a temporary or permanent basis. There's also no limit on wiring money out ($30 fee).

It costs $30 to take money out?
Reply
Joined Feb 2021
L6: Expert
> bubble2 1,949 Posts
320 Reputation
nyc10036
03-25-2024 at 06:30 AM.
03-25-2024 at 06:30 AM.
Quote from crisplyvague View quoted comment :
You can always do a pull from a linked account that is only limited by the puller bank. I was able to pull $150k in 1-2 days from UFB to Ally when initiated from Ally for example. Their limit is $500,000 in inward transfers per day, at least for an established account.
Ah. I had thought that the limit is absolute and doesn't depend on push vs pull.
Thanks.
Reply
Joined Feb 2021
L6: Expert
> bubble2 1,949 Posts
320 Reputation
nyc10036
03-25-2024 at 07:27 AM.
03-25-2024 at 07:27 AM.
Quote from rollersk8 View quoted comment :
Can you please explain what treasuries to buy and where to buy it?
I buy T-Bills in my Fidelity account.
Reply
Last edited by nyc10036 March 25, 2024 at 07:31 AM.
Joined Nov 2017
L3: Novice
> bubble2 112 Posts
26 Reputation
crisplyvague
03-25-2024 at 09:28 AM.
03-25-2024 at 09:28 AM.
Quote from nyc10036 View quoted comment :
I buy T-Bills in my Fidelity account.
This an option as well but I prefer the ETFs that keep that automatically roll treasuries such as USFR, BIL, or SGOV. One pays a small expense ratio of around .07-.15%

USFR pays 5.37% today. (Yield after expense ratio.)
Reply
Last edited by crisplyvague March 25, 2024 at 09:31 AM.
Joined Feb 2021
L6: Expert
> bubble2 1,949 Posts
320 Reputation
nyc10036
03-25-2024 at 02:45 PM.
03-25-2024 at 02:45 PM.
Quote from crisplyvague View quoted comment :
This an option as well but I prefer the ETFs that keep that automatically roll treasuries such as USFR, BIL, or SGOV. One pays a small expense ratio of around .07-.15%

USFR pays 5.37% today. (Yield after expense ratio.)
I will look into them.
Reply
Joined Feb 2014
L5: Journeyman
> bubble2 504 Posts
108 Reputation
sbcookiemonster
03-27-2024 at 03:56 AM.
03-27-2024 at 03:56 AM.
This bank doesn't like me and doesn't let me sign up with no explanation as to why
Reply
Joined Nov 2004
Nor Cal
> bubble2 2,426 Posts
414 Reputation
dmdvfl
03-27-2024 at 11:53 PM.
03-27-2024 at 11:53 PM.
Quote from incarnate View quoted comment :
You shouldn't be limited from removing all of your money in a month if you want.
I guess you can always take all your money out by cancelling the account but it is not a good solution.
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Joined Nov 2013
L3: Novice
> bubble2 245 Posts
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2001kx
03-31-2024 at 04:57 PM.
03-31-2024 at 04:57 PM.
Quote from Joedaddy123 View quoted comment :
I would get one at a bigger bank with good online presence like Fidelity, Capital Ond, Charles Schwab, etc. make sure they have decent rates.

I say this because young people would probably like a little more fancy websites and charts to see their money growing. They can figure it out on their own if that means nothing and will chase rates like us fools.

I would just put it in VOO on a platform like Robinhood.
Reply
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