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UFB Portfolio Savings: Earn Expired

up to 5.15% APY
+115 Deal Score
265,013 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
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+115
265,013 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 Mar 2016
L5: Journeyman
> bubble2 537 Posts
34 Reputation
Diisturbance
04-01-2024 at 01:15 AM.
04-01-2024 at 01:15 AM.
Quote from Diz :
I just received my 1099 consolidated as well and 100% of my XHLF dividends are showing as non-qualified even though I didn't touch them at all in 2023 (started buying in May 2023). This didn't make any sense based on the definition of qualified dividend we've mentioned, so I called my brokerage. It took them about 5 minutes to figure it out, but apparently, dividends acquired via XHLF and SGOV will *not* be considered qualified regardless of the holding timeframe. The payment characterization of "Qualified Dividend" is determined by the issuer, and in the instances of both XHLF and SGOV, they are not characterized as such. I need to dig into the "why" behind this more, but I'm moving my money back to my HYSA that's at 5.25% APY ASAP.

Edited to add:
I found this about SGOV:
https://www.bogleheads.org/forum/...0qualified.

And then this:
https://www.ishares.com/us/litera...tamped.pdf

Bottom line, these are both Treasury ETFs and as such, the dividends will always be non-qualified. I'm sure glad I realized this after only a couple of days post transfer from my HYSA into SGOV!!

Which HYSA do you currently use. I'm looking into this UFB but interested in yours if it's different. Thanks in advance Diz
Reply
Joined Jan 2008
L5: Journeyman
> bubble2 770 Posts
119 Reputation
Diz
04-01-2024 at 08:46 AM.
04-01-2024 at 08:46 AM.
Quote from Diisturbance :
Which HYSA do you currently use. I'm looking into this UFB but interested in yours if it's different. Thanks in advance Diz
I use CFG Bank, based in Baltimore, MD. I have my HYSA there (currently 5.25% APY; no games) and many laddered 12 month non-callable CDs ranging from 5.2% to 5.6%.

https://www.cfg.bank/personal-ban...osit-rates
Reply
Joined Mar 2016
L5: Journeyman
> bubble2 537 Posts
34 Reputation
Diisturbance
04-01-2024 at 11:01 AM.
04-01-2024 at 11:01 AM.
Quote from Diz :
I use CFG Bank, based in Baltimore, MD. I have my HYSA there (currently 5.25% APY; no games) and many laddered 12 month non-callable CDs ranging from 5.2% to 5.6%.

https://www.cfg.bank/personal-ban...osit-rates

Are you local to CFG? Do they have withdrawal limits or any kind of fees?
Reply
Joined Jan 2008
L5: Journeyman
> bubble2 770 Posts
119 Reputation
Diz
04-01-2024 at 11:30 AM.
04-01-2024 at 11:30 AM.
Quote from Diisturbance :
Are you local to CFG? Do they have withdrawal limits or any kind of fees?
I'm not local to them but they are well established.

Fee schedule (nothing applies to me):
https://www.cfg.bank/commercial-b...e-schedule

I'm not entirely sure on the transfer limits, but I believe it's $25k daily and $80k monthly if initiated via them. I also maintain an account with Discover, so the CFG transfer limits really don't impact me.
Reply
Joined Dec 2011
Love deals!!
> bubble2 515 Posts
35 Reputation
keep-them-coming
04-01-2024 at 05:58 PM.
04-01-2024 at 05:58 PM.
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.
How do you know though that they increased the interest rate on their accounts? Like did you get an app notification/email or something?
Reply
Joined Jan 2004
L3: Novice
> bubble2 102 Posts
17 Reputation
hotindy
04-01-2024 at 06:16 PM.
04-01-2024 at 06:16 PM.
Which one is better if one can park the money for one year:

this CD with 5.4 APY for one year or the 52 weeks TBill with 5.08

https://home.treasury.gov/resourc...value=2024
Reply
Joined Nov 2013
L1: Learner
> bubble2 9 Posts
10 Reputation
daveisdavis
04-01-2024 at 09:11 PM.
04-01-2024 at 09:11 PM.
Quote from keep-them-coming :
How do you know though that they increased the interest rate on their accounts? Like did you get an app notification/email or something?
You can check your interest rate in the app
Reply

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Joined Nov 2013
L1: Learner
> bubble2 9 Posts
10 Reputation
daveisdavis
04-01-2024 at 09:15 PM.
04-01-2024 at 09:15 PM.
thanks
Reply
Last edited by daveisdavis April 1, 2024 at 09:22 PM.
Joined Aug 2006
L4: Apprentice
> bubble2 358 Posts
14 Reputation
nomad_coupon_king
04-01-2024 at 09:29 PM.
04-01-2024 at 09:29 PM.
Well if you have brokerage account like Fidelity, you can shop around nationwide CDs. You don't need to open an account in foreign states
Reply
Joined Mar 2016
L5: Journeyman
> bubble2 537 Posts
34 Reputation
Diisturbance
04-02-2024 at 12:40 AM.
04-02-2024 at 12:40 AM.
Quote from Diz :
I'm not local to them but they are well established.

Fee schedule (nothing applies to me):
https://www.cfg.bank/commercial-b...e-schedule

I'm not entirely sure on the transfer limits, but I believe it's $25k daily and $80k monthly if initiated via them. I also maintain an account with Discover, so the CFG transfer limits really don't impact me.

Thanks for the information. The dormant account fees for 6 month and 2 years don't apply to saving accounts. Am I reading that correct? Also if you don't mind me asking how long have you been with CFG? I plan to park a certain amount in the HYSA
Reply
Joined Jan 2008
L5: Journeyman
> bubble2 770 Posts
119 Reputation
Diz
04-02-2024 at 03:27 PM.
04-02-2024 at 03:27 PM.
Quote from Diisturbance :
Thanks for the information. The dormant account fees for 6 month and 2 years don't apply to saving accounts. Am I reading that correct? Also if you don't mind me asking how long have you been with CFG? I plan to park a certain amount in the HYSA
I essentially use this as my checking account, so I'm not privy to the dormancy aspect.

I've been with them for a little bit over a year. I currently hold 5 CDs and my HYSA allotment with them. I have bounced around A LOT of institutions in the past 2 years or so, and CFG has by far been the one that has never let me down from every aspect.
Reply
Joined Mar 2016
L5: Journeyman
> bubble2 537 Posts
34 Reputation
Diisturbance
04-04-2024 at 09:04 AM.
04-04-2024 at 09:04 AM.
Quote from Diz :
I essentially use this as my checking account, so I'm not privy to the dormancy aspect.

I've been with them for a little bit over a year. I currently hold 5 CDs and my HYSA allotment with them. I have bounced around A LOT of institutions in the past 2 years or so, and CFG has by far been the one that has never let me down from every aspect.

Alright cool I'm going to talk to them and do a little more research but it is one of my top contenders after reading a little. Thank you again Diz
Reply
Joined Nov 2016
L2: Beginner
> bubble2 95 Posts
16 Reputation
bluejays37
04-04-2024 at 10:49 AM.
04-04-2024 at 10:49 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

Yeah, $60,000 a month kills the deal for me😅😂🤣 Just kidding.

This company seems legit. If you want to talk to someone, this is not the bank for you. It's all automated. I never did, my debit card.
Reply
Joined Oct 2013
L7: Teacher
> bubble2 2,017 Posts
333 Reputation
tygron
04-09-2024 at 01:10 PM.
04-09-2024 at 01:10 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.
They have a HYSA option [pnc.com].

Keep in mind it's not available everywhere, so YMMV.
Reply

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Joined Sep 2013
L4: Apprentice
> bubble2 495 Posts
76 Reputation
DannyD2637
04-09-2024 at 01:41 PM.
04-09-2024 at 01:41 PM.
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.
My rate with Vio Bank has been at 5.25% for a few months now. Every time they increase the rate it's automatic. Seems unnecessary.
Reply
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