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UFB Secure Savings: Earn

up to 5.25% APY
+108 Deal Score
232,843 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
232,843 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 Feb 2018
New User
> bubble2 5 Posts
10 Reputation
ShrewdCabbage687
04-09-2024 at 12:41 PM.
04-09-2024 at 12:41 PM.
Quote from CleverDolphin241 :
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.
I called after reading comments cause i didn't know either that I have call to get interest back to 5.25%. Currently it is at 4.5% for six months so. I spoke to person on call from UFB, he said that the interest rate varies depending on the market bank rates. Wow felt bit strange to hear that just like other here. but happy now. Very thankful to this community and posts like this!!
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Joined Feb 2018
New User
> bubble2 5 Posts
10 Reputation
ShrewdCabbage687
04-09-2024 at 12:46 PM.
04-09-2024 at 12:46 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 called after reading comments cause i didn't know either that I have to call to get interest back to 5.25%. Currently it is at 4.5% since past six months or so. I spoke to person on call from UFB, he said that the interest rate varies depending on the market bank rates. Wow felt bit strange to hear that just like others here. but happy now. Very thankful to this community and posts like this!!
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Joined Oct 2004
Cracker
> bubble2 3,924 Posts
971 Reputation
beggerking
04-09-2024 at 01:43 PM.
04-09-2024 at 01:43 PM.
Quote from BullittEV :
Doesnt work for people like me where I want access to all of my cash immediately (house down payment). Still using PNC @ 4.65% for that reason.
Pnc is awful
Mac transfer is only 25000 and they give you run arounds when you do
1
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Joined Oct 2011
Hi all
> bubble2 4,672 Posts
558 Reputation
asuchemist
04-09-2024 at 09:22 PM.
04-09-2024 at 09:22 PM.
chase savings 0.01%
2
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Joined Jul 2006
L4: Apprentice
> bubble2 347 Posts
359 Reputation
Eric714
04-09-2024 at 09:44 PM.
04-09-2024 at 09:44 PM.
Quote from EfficientGame645 :
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
Our money manager just opened his own account and recommended UFB to us about a year ago. We move a bunch of money there. Opening an account was a painful experience. The website technology looks like it was state-of-the-art in 1992. Transfers are slow.

We've since closed the account. Our money guy did, too.
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Joined Nov 2008
L5: Pokeman
> bubble2 8,170 Posts
652 Reputation
Lanmanna
04-10-2024 at 02:50 AM.
04-10-2024 at 02:50 AM.
Quote from BullittEV :
Thanks, too bad.
What's too bad?
1
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Joined Nov 2008
L5: Pokeman
> bubble2 8,170 Posts
652 Reputation
Lanmanna
04-10-2024 at 03:04 AM.
04-10-2024 at 03:04 AM.
Quote from ShrewdCabbage687 :
I called after reading comments cause i didn't know either that I have to call to get interest back to 5.25%. Currently it is at 4.5% since past six months or so. I spoke to person on call from UFB, he said that the interest rate varies depending on the market bank rates. Wow felt bit strange to hear that just like others here. but happy now. Very thankful to this community and posts like this!!
Hopefully you didn't lose too much in interest over the past six months.
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Joined Feb 2009
L4: Apprentice
> bubble2 390 Posts
RHCPaul
04-10-2024 at 06:13 AM.
04-10-2024 at 06:13 AM.
T bills directly from the treasury are still paying above 5.3% and you don't have to pay state tax on the earnings, nor do you have to deal with this bank's nonsense.

https://www.treasurydirect.gov/au...a-results/
1
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Joined Dec 2020
L2: Beginner
> bubble2 31 Posts
14 Reputation
FeistyStar5882
04-10-2024 at 12:22 PM.
04-10-2024 at 12:22 PM.
We've had an account here for a little while. Contacting them when you need the higher rate is annoying, but it's just one call. We now have 3 saving accounts with them.
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Joined Dec 2020
L2: Beginner
> bubble2 31 Posts
14 Reputation
FeistyStar5882
04-10-2024 at 12:23 PM.
04-10-2024 at 12:23 PM.
Also- super super easy to open an account. Took me a few minutes and deposited money immediately.
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Joined Sep 2008
L6: Expert
> bubble2 1,044 Posts
410 Reputation
Pro
Enix82
04-10-2024 at 01:28 PM.
04-10-2024 at 01:28 PM.
In the process now of moving cash out of UFB for the Capital One 360 1500 promo. Easy enough to link and verify. Only $15000 a day transfer but scheduling transfers seems to work ok. I honestly don't think I'll move cash back to here after the Capital One Promo period. I'll prolly shuffle it to Fidelity for more T Bills.
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Joined Dec 2011
Love deals!!
> bubble2 501 Posts
31 Reputation
keep-them-coming
04-10-2024 at 02:23 PM.
04-10-2024 at 02:23 PM.
So stupid. Received the following. Wtf is I am not a signer and now wtf should I send them since online statements will not be accepted?

We have noticed that you added a new external account to your online banking profile, however we've been unable to validate your name as a signer. Please provide proof of ownership for the recently added account(s) from The Bancorp Bank. Documents sufficient for this request include a recent account statement or an image of a voided check reflecting your name as an authorized signer for account(s) ending in _____.

Please note: Online statements will not be accepted.

You may reply via secure message through your online banking portal with the requested attachment(s). If you are unable to provide ownership documents, the external account(s) will be deleted from your profile.

Please be advised that external accounts in the name of a third party are prohibited. To transfer funds from an account where you are not a signer, please have a signer initiate a P2P transaction or send a bill payment to your Axos Bank account.

If you wish to add an owner to your Axos Bank account, please contact customer service at (888) 502-2967 and/or submit the request via secure message through your online banking portal.
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Joined Jan 2004
L3: Novice
> bubble2 102 Posts
17 Reputation
hotindy
04-10-2024 at 02:51 PM.
04-10-2024 at 02:51 PM.
This is savings with no commitment on the duration. However if you are comfortable locking for one year, has anyone tried Nexbank or State Bank if Texas where they are offering 5.4% on one year CD. Pl let me know if it's worth considering try his option
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Joined Jan 2008
L5: Journeyman
> bubble2 656 Posts
95 Reputation
Diz
04-10-2024 at 04:47 PM.
04-10-2024 at 04:47 PM.
Quote from FeistyStar5882 :
We've had an account here for a little while. Contacting them when you need the higher rate is annoying, but it's just one call. We now have 3 saving accounts with them.
It's beyond annoying. It's ridiculous and there's absolutely no justification for it other than they're trying to take advantage of customers' complacency/unawareness. There are other options. Don't hold your money with these fools.
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Joined Nov 2009
Active
> bubble2 431 Posts
ben_mn
04-10-2024 at 07:47 PM.
04-10-2024 at 07:47 PM.
Quote from ms2000 :
Are there any competing banks than UFB Direct?
It seems that you need to change product to get higher rates with time!
Was looking at this bank @ 5.55%
https://www.mybankingdirect.com/
Not the best reviews though: https://www.depositaccounts.com/b...irect.html
or here: https://slickdeals.net/f/17416683-my-banking-direct-has-5-55-apy1-when-you-open-a-high-yield-savings-account?v=1&src=SiteSearch
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