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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.
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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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.
This and the other story above makes me hesitant to do any business with this bank. If they are playing chicken with their customers and seemingly changing rates in their favor when you're not looking. Red flag for a likely soon-to-be-defaulting institution AFAIC.
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.
You need what PNC calls a "Virtual Wallet" account. With Virtual Wallet you get 3 accounts: "Spend", which is a regular checking account; a "reserve" account, which I've never used as it pays no interest; and a Savings account that pays 4.65% interest currently. I have a PNC Virtual Wallet account as it's a local bank, and UFB for Savings.
Just do Marcus by Goldman and be at 5.4%. Just gotta have someone you know create a login for the bonus to stay every quarter. I've been doing it for two years. This account OP posted will not let you take out your money that's over $60k which is INSANE
Don't know if it's targeted but UFB sent me a solicitation to open a checking account along with my existing saving for a .20% increase totaling 5.45%. I've recently moved all my UFB funds to Capital One for their $1500 promo. Had to do daily increments of 15k which wasn't too terribly hard to schedule. Marcus was a lot easier for a single lump amount.
I won't be going back to UFB once my Capital One promo hold up period has ended. Joining TBill gang all the way.
Have had this account for a few months and notice it doesn't accrue interest on the weekends. Very confused by that…
um yes it does - you make interest daily, review my posts earlier in this thread, i was confused as to why 28/29/30/31 days interest payouts were all different
Don't know if it's targeted but UFB sent me a solicitation to open a checking account along with my existing saving for a .20% increase totaling 5.45%. I've recently moved all my UFB funds to Capital One for their $1500 promo. Had to do daily increments of 15k which wasn't too terribly hard to schedule. Marcus was a lot easier for a single lump amount.
I won't be going back to UFB once my Capital One promo hold up period has ended. Joining TBill gang all the way.
interesting, they gave me a promo % bump that I posted earlier, but it needed a $5k monthly direct deposit in addition to some other stuff
Just do Marcus by Goldman and be at 5.4%. Just gotta have someone you know create a login for the bonus to stay every quarter. I've been doing it for two years. This account OP posted will not let you take out your money that's over $60k which is INSANE
Read my second sentence over again. Every qtr just refer someone. The person doesn't need to connect a bank to it or anything. Just make a login and you get a bonus 1% for 3 months
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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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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.
This and the other story above makes me hesitant to do any business with this bank. If they are playing chicken with their customers and seemingly changing rates in their favor when you're not looking. Red flag for a likely soon-to-be-defaulting institution AFAIC.
Sign up for a Slickdeals account to remove this ad.
I won't be going back to UFB once my Capital One promo hold up period has ended. Joining TBill gang all the way.
I won't be going back to UFB once my Capital One promo hold up period has ended. Joining TBill gang all the way.
Did you mean 4.4%?
Read my second sentence over again. Every qtr just refer someone. The person doesn't need to connect a bank to it or anything. Just make a login and you get a bonus 1% for 3 months
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