UFB Direct Review: 5.25% APY From a Reputable Bank

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UFB Direct is an excellent option if you're searching for a competitive interest rate on a money market account or savings account. If you'd also like a checking account or CD, you might consider other institutions because UFB Direct doesn't have these accounts.

About UFB Direct 

UFB Direct is an online division of Axos Bank. UFB Direct has an online-only high-yield savings account and a money market account.

Usually, savings accounts do not come with ATMs cards. However, UFB Elite Savings comes with a complimentary ATM card, which is convenient for withdrawing money from ATMs. At other online banks, you may have to transfer money to an external bank account to withdraw money, which can take a few days to process.

The UFB Elite Money Market Account has even more access to your money through a debit card and paper checks. You'll be able to make purchases and payments using a debit card or checks.

Customers have access to over 91,000 ATMs. To find a nearby ATM, log in to online banking and use the ATM locator tool.

Call or use live chat on weekdays from 9 a.m. to 5 p.m. PT if you would like to speak with a Direct Banker.

The UFB Direct mobile app is rated 4.6 out of 5 states in the Google Play store and 4.8 out of 5 stars in the Apple store.

UFB Direct bank accounts are FDIC insured through Axos Bank. Up to $250,000 is secure in individual bank accounts, and $500,000 is protected in joint bank accounts. 

Overall UFB rating

UFB Direct pros and cons 

UFB Direct trustworthiness

We use ratings from the Better Business Bureau to see how banks respond to customer issues.

The BBB gave UFB Direct an A+ rating, and its parent company, Axos Bank, also received an A+ rating.

A good BBB rating won't necessarily guarantee your relationship with a bank will be perfect. 

UFB Direct Accounts

UFB offers a high-yield savings account and a money market account. 

UFB Savings

You may like UFB Elite Savings if you want a straightforward account. The savings account doesn't charge monthly service fees, and it comes with a complimentary ATM card. 

UFB Elite Savings also pays UFB Elite Savings annual percentage yield (APY). Customers with existing savings accounts may have to call customer service to get upgraded for the newest rate.

UFB Money Market Account

You may favor the UFB Elite Money Market Account if you would like a bank account that includes paper checks and a debit card. However, you must maintain a $5,000 balance to avoid a UFB Priority Money Market - Fees Display.

This account also pays UFB Elite Money Market Account APY.

Compare UFB Direct

See how UFB Direct compares to top savings accounts.

UFB Direct vs. Bread Savings

You might prefer UFB Direct if you are strictly looking to earn the highest interest rate on a savings account. Meanwhile the Bread Savings High-Yield Savings Account offers Bread Savings High-Yield Savings Account APY. Interest rates tend to fluctuate, though, so this may change in the future.

Your decision between two online banking platforms also might ultimately depend on which types of accounts you'd like to open. UFB Direct has a high-yield savings account and a money market account. Bread Savings offers a high-yield savings account and CDs. If you'd like to get a checking account, you'll have to consider other banks.

UFB Direct vs. Bask Bank

If you'd prefer to earn a more competitive interest rate on a savings account, UFB Direct might be a more suitable choice. However, the Bask Bank Interest Savings Account pays Bask Bank Interest Savings Account APY regardless of your account balance. 

UFB Direct also may be a better option if you'd like accounts with a debit card or ATM card. Bask Bank doesn't offer debit cards, ATM cards, or an ATM network.

Bask Bank may be a better choice if you're a frequent traveler. The Bask Bank Mileage Savings Account stands out from most savings accounts because you can earn American Airlines AAdvantage miles on your savings. 

UFB Direct Frequently asked questions

What is the interest rate for the UFB High Rate Savings Account?

The UFB High Rate Savings pays UFB Elite Savings. To earn UFB Elite Savings, you must open an account and deposit any amount. 

Are UFB Direct accounts FDIC insured?

UFB Direct savings and money market accounts are FDIC insured through Axos Bank. This means that your money is safe even in the rare event that the bank shuts down. Your money will be transferred to another bank account with FDIC insurance, or it will be sent to you as a check.

Can you deposit cash at UFB Direct?

Yes. You may make cash deposits at select ATMs. You must log in to UFB Direct's website to use the ATM Locator tool.