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UFB Secure Savings: Earn

up to 5.25% APY
+108 Deal Score
231,693 Views
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
Thanks to staff member EfficientGame645 for finding this deal.

Slickdeals may be compensated by UFB Direct
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Original Post

Written by
Edited November 16, 2023 at 01:33 PM 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 | Staff
in Finance
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score +108
231,693 Views
up to 5.25% APY
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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 Sep 2005
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caldog101
08-13-2023 at 05:43 AM.
08-13-2023 at 05:43 AM.
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
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JollyReward108
08-13-2023 at 06:09 AM.
08-13-2023 at 06:09 AM.
Staying with treasury bills for now, tax advantage and equal yield.
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little0831
08-13-2023 at 07:30 AM.
08-13-2023 at 07:30 AM.
I usually just send a message using the secure message center on the website. I've send them this or the equivalent.

Could you please upgrade my account ending in #### to the UFB High Yield Savings Account please with an APY of 5.25%. Thank you!

Done it 5 times now since Nov of 2022 and within a day or two its usually taken care of. No issues with this bank except money in and out takes a while, but hey.... its my highest earning savings account and I don't need immediate access to the funds, I usually plan out my large purchases, and if I absolutely need to, I can float a large purchase on a CC for a few days or a week while I wait to get funds transferred out.
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Joined Mar 2010
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bhanson
08-13-2023 at 01:53 PM.
08-13-2023 at 01:53 PM.
Do you also have to request that they update the interest rate when they lower it? 🤣
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Joined Nov 2012
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lomei
08-14-2023 at 12:45 PM.

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

08-14-2023 at 12:45 PM.
Quote from BullittEV :
Thanks, too bad.
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).
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Joined Nov 2013
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camsam
08-14-2023 at 01:26 PM.
08-14-2023 at 01:26 PM.
Quote from little0831 :
I usually just send a message using the secure message center on the website. I've send them this or the equivalent.

Could you please upgrade my account ending in #### to the UFB High Yield Savings Account please with an APY of 5.25%. Thank you!

Done it 5 times now since Nov of 2022 and within a day or two its usually taken care of. No issues with this bank except money in and out takes a while, but hey.... its my highest earning savings account and I don't need immediate access to the funds, I usually plan out my large purchases, and if I absolutely need to, I can float a large purchase on a CC for a few days or a week while I wait to get funds transferred out.
agreed, it is pretty easy. They respond very quickly too.
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PutaBirdOnIt
08-15-2023 at 12:24 PM.

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

08-15-2023 at 12:24 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.
I opened my UFB account a few months ago when they had the 5.09% promo. Everything's been fine since then except this morning I went into my account to request to be upgraded to the new 5.25% rate only to find out that they had dropped me to 4.5% unannounced! Talked to their CS via chat and was able to upgrade but did not like the random downgrade, especially when interest rates are only going up! The rep explained that their exec board determines rates of products and can change any any given moment. I'm happy with the product, but was hoping this was more of a "set it and forget it" account at least while rates remain competitively high.
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paczbro
08-15-2023 at 03:16 PM.
08-15-2023 at 03:16 PM.
Quote from JollyReward108 :
Staying with treasury bills for now, tax advantage and equal yield.
what's the tax advantage?
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Joined Oct 2008
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NoSleep007
08-15-2023 at 08:39 PM.
08-15-2023 at 08:39 PM.
Why does it say *upto 5.25%?
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RowdyReptile
08-16-2023 at 01:40 PM.
08-16-2023 at 01:40 PM.
SoFi is only at 4.5% (with direct deposit requirement) but at least they automatically raise my rate without having to request it.
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TurboMann
08-16-2023 at 03:36 PM.
08-16-2023 at 03:36 PM.
Quote from PutaBirdOnIt :
I opened my UFB account a few months ago when they had the 5.09% promo. Everything's been fine since then except this morning I went into my account to request to be upgraded to the new 5.25% rate only to find out that they had dropped me to 4.5% unannounced! Talked to their CS via chat and was able to upgrade but did not like the random downgrade, especially when interest rates are only going up! The rep explained that their exec board determines rates of products and can change any any given moment. I'm happy with the product, but was hoping this was more of a "set it and forget it" account at least while rates remain competitively high.
Just logged into my account and noticed I was lowered from my previous 5.02% rate to 4.5% with no warning.

In process of contacting CS to get it bumped up to the new 5.25% rate, but it is a bit annoying having to babysit the rate.

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Bombercules
08-17-2023 at 08:27 AM.
08-17-2023 at 08:27 AM.
I had called the last time I requested a rate increase, as they implied in the chat it would not work. After reading the comments I gave chat a shot. I requested it on Monday and it seemed like it was going to be updated the next day, I gave it until today (Thursday) and when it was still not updated I chatted again, no clue if it will work this time. Am I the outlier here?
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JollyReward108
08-17-2023 at 01:08 PM.

Our community has rated this post as helpful. If you agree, why not thank JollyReward108

08-17-2023 at 01:08 PM.
Quote from paczbro :
what's the tax advantage?
Treasuries income is state and local tax free.
>
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cw21
08-18-2023 at 06:19 AM.
08-18-2023 at 06:19 AM.
Quote from RowdyReptile :
SoFi is only at 4.5% (with direct deposit requirement) but at least they automatically raise my rate without having to request it.

Yep same thought here, considering asking if they're going to compete with this 5.25% deal and considering moving savings if not
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litobirdy
08-18-2023 at 06:45 AM.
08-18-2023 at 06:45 AM.
Quote from little0831 :
I usually just send a message using the secure message center on the website. I've send them this or the equivalent.

Could you please upgrade my account ending in #### to the UFB High Yield Savings Account please with an APY of 5.25%. Thank you!

Done it 5 times now since Nov of 2022 and within a day or two its usually taken care of. No issues with this bank except money in and out takes a while, but hey.... its my highest earning savings account and I don't need immediate access to the funds, I usually plan out my large purchases, and if I absolutely need to, I can float a large purchase on a CC for a few days or a week while I wait to get funds transferred out.
dam so what, you'd have to monitor your account every so often to check the new rates. I like to just open it and forget about it for months
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