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UFB Secure Savings: Earn
up to 5.25% APY
UFB Direct, our partner, offers the following benefits with their UFB Secure Savings account:
Slickdeals may be compensated by UFB Direct
- 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
Original Post
Written by
Edited November 16, 2023
at 01:33 PM
UFB Direct our partner, offers the following benefits with their UFB Secure Savings account:
Slickdeals may be compensated by UFB Direct
- 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 | Staff
in
Finance
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(Valid July 1 - Sept. 30, 2024)
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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.c
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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There actually is justification for it and beyond annoying is a bit of an exaggeration. When the interest rate drops or rises, they create a new product. They don't necessarily reduce the rate you're receiving like other HYS accounts do.
When the rate dropped about a year ago, I was grandfathered in with my current account and continued earning 1/4 point more than the offering for new customers. I would prefer to have a locked in rate than a variable one, all it take is a phone call or a chat with their Evo bot and my account is upgraded to the latest interest rate.
When the rate dropped about a year ago, I was grandfathered in with my current account and continued earning 1/4 point more than the offering for new customers. I would prefer to have a locked in rate than a variable one, all it take is a phone call or a chat with their Evo bot and my account is upgraded to the latest interest rate.
I never said it was a guarantee and I asked them a year ago and they said it wasn't. They can drop the rate on your account, but my experience was when the rates are fluctuating 1/4 point, they did not feel the need to lower the rate on my account. They simply shut down the current product for new customers and created a new product. Nothing in this world is absolute except for taxes and death. But point me to a HYS that has this rate and did what my experience was.
When the rate dropped about a year ago, I was grandfathered in with my current account and continued earning 1/4 point more than the offering for new customers. I would prefer to have a locked in rate than a variable one, all it take is a phone call or a chat with their Evo bot and my account is upgraded to the latest interest rate.
Keep playing their stupid game and wasting your time with calls/chats for again, there are many other institutions that don't subject their customers to such BS. And yes, I'm earning 5.25%+.
Keep playing their stupid game and wasting your time with calls/chats for again, there are many other institutions that don't subject their customers to such BS. And yes, I'm earning 5.25%+.
lol you act like the rate is changing daily, and yes, if you actually have a lot of money, you babysit it. I don't leave my money unattended. I log in daily and their homepage shows the current rate. It's really not that hard and you're making a bigger deal than it is.
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Same rate for HYS and minimal for 12mo CD. I'll keep it where's it's at. You haven't provided anything significant to justify the extra work of moving accounts.
Easier to direct deposit my paychecks and rent income into a savings account.
I would but the rate doesn't look to be anything better than what I'm getting currently. People have told me of the same thing you're saying, but the rates they're getting isn't any better.
If I really wanted to, I'd just throw it in an S&P or Nasdaq Index fund and leave it be, but for the "cash" I have on hand, where I have it is fine for now. UFB has been a stable and responsive banking entity for me.
If I really wanted to, I'd just throw it in an S&P or Nasdaq Index fund and leave it be, but for the "cash" I have on hand, where I have it is fine for now. UFB has been a stable and responsive banking entity for me.
https://portfolioslab.c
A low-cost ETF in the S&P 500 is fine for diversification, but the funds I mentioned don't have that risk. And if things keep trending to where the Fed won't actually wind up cutting rates for many more months (which should be the case, IMHO), then funds like these are superior to anything in the stock market. That's why it's pulled back significantly the past few weeks.
It is very stable and secure.
No need to go through opening new saving account / hassle.
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https://www.mybankingdi
Not the best reviews though: https://www.depositacco
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
I did this as UFB reviews were about the same. Sign up was painless, funding happened within 24 hrs with a 9 day hold. Some of my external transfers have to go through the deposit validation, Ally was immediate. I'll give a go, hopefully better than CIT with the available lag in deposits!!!!