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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 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
I've been doing Marcus for a year and a half and love it. My referrals are about to run out… All my friends are too lazy to sign up! Might have to switch now.
I've been doing Marcus for a year and a half and love it. My referrals are about to run out… All my friends are too lazy to sign up! Might have to switch now.
I'm gunna start throwing people money to make a login lol
I do not understand the limits on this savings account. Is there a maximum number of transactions if I set up autopayments from the account to external accounts? Is there a maximum amount per transaction or cumulative per month?
I want to link 11 auto payments totaling between $15K - $40K per month.
Good:
* Interest can be quite high in a checking account. My checking account gets a better interest rate than my savings
Bad:
* They are garbage. They won't update your account's interest rate without badgering.
* Their brokerage website is pre-etrade in quality. How can this still be a thing? It makes treasury direct look modern.
* Something incredibly unfortunate is happening. TIAA does not accept Axos's routing number. Both sides blame they other and refuse to do anything about it. I don't know if this is still the case but I opened a TIAA account for CD laddering a month and a half ago. I had to use an intermediary account to move the money.
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
Where do you see you get a 1% increase for a referral? I'm looking and can't find anything talking about that.
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.
Their bankers don't know their own policies. Started a transfer from a business checking account to my Ufb account but axos bank doesn't allow it. Yet they still took my money out. Now awaiting for them to transfer back the money which I heard can take 5-7 business days (even though they told me The money would stay in my account). Horrible bank, I've never had this much problems before. Not worth the extra work.
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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.
Sign up for a Slickdeals account to remove this ad.
I've been doing Marcus for a year and a half and love it. My referrals are about to run out… All my friends are too lazy to sign up! Might have to switch now.
I'm gunna start throwing people money to make a login lol
I want to link 11 auto payments totaling between $15K - $40K per month.
Good:
* Interest can be quite high in a checking account. My checking account gets a better interest rate than my savings
Bad:
* They are garbage. They won't update your account's interest rate without badgering.
* Their brokerage website is pre-etrade in quality. How can this still be a thing? It makes treasury direct look modern.
* Something incredibly unfortunate is happening. TIAA does not accept Axos's routing number. Both sides blame they other and refuse to do anything about it. I don't know if this is still the case but I opened a TIAA account for CD laddering a month and a half ago. I had to use an intermediary account to move the money.
It's called Marcus referred. It's an area on my app
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.
Sign up for a Slickdeals account to remove this ad.