On This Page
On This Page
- At a glance
- Overall
- UFB Direct bank products
- Bank fees
- Customer experience
- About UFB Direct
- How UFB Direct compares to other banks
- FAQs
- Review Methodology
At a glance
4.4
Rating: 4.4 stars out of 5
Bankrate Score
Checking
Rating: 4.6 stars out of 5
Savings
Rating: 5 stars out of 5
MMA
Rating: 4.1 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
About Bankrate Score
Overview
UFB Direct is geared toward savers looking for high yields. It offers a savings account, a money market account and a checking account. But it doesn’t offer CDs. Both its Portfolio Savings and Portfolio Money Market accounts earn highly competitive APYs on all balances. The bank also offers mortgages.
Highlights
- High APY
- 24/7 Customer Service
Sponsored offers
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
About our Sponsored Offers
Our list of sponsored accounts may offer competitive rates, multiple times higher than the national average. All of these offers have FDIC or NCUA insurance, have competitive minimums and few fees. We’ve vetted the credit worthiness of these banks to simplify your search.
Member FDIC
Savings Account
4.25
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 9/13/2024
Rating: 4.9 stars out of 5
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer:
American Express
Member FDIC
Savings Account Details
4.25
%
APY
$0
Min balance for APY
Offer rate as of9/13/2024
Interest rate4.16%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC
Savings Account
5.30
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 9/13/2024
Rating: 4.9 stars out of 5
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer: Earn our LevelUp rate with $250 in monthly deposits, plus no fees.
LendingClub
Member FDIC
Savings Account Details
5.30
%
APY
$0
Min balance for APY
Offer rate as of9/13/2024
Interest rate5.18%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Earn our LevelUp rate with $250 in monthly deposits, plus no fees.
Member FDIC
Savings Account
5.31
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 9/13/2024
Bankrate Savings rating = 0/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer:
Western Alliance Bank
Member FDIC
Savings Account Details
Offer rate as of9/13/2024
Interest rate5.31%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.25
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 9/13/2024
$0
Min. balance for APY
Promoted offer
American Express
Member FDIC
Savings Account Details
4.25
%
APY
$0
Min balance for APY
Offer rate as of9/13/2024
Interest rate4.16%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.30
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 9/13/2024
$0
Min. balance for APY
Promoted offer: Earn our LevelUp rate with $250 in monthly deposits, plus no fees.
LendingClub
Member FDIC
Savings Account Details
5.30
%
APY
$0
Min balance for APY
Offer rate as of9/13/2024
Interest rate5.18%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Earn our LevelUp rate with $250 in monthly deposits, plus no fees.
Member FDIC
Savings Account
0.0
Rating: 0 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.31
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 9/13/2024
$0
Min. balance for APY
Promoted offer
Western Alliance Bank
Member FDIC
Savings Account Details
5.31
%
APY
$0
Min balance for APY
Offer rate as of9/13/2024
Interest rate5.31%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.50
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 9/13/2024
$0
Min. balance for APY
Promoted offer
Barclays
Member FDIC
Savings Account Details
4.50
%
APY
$0
Min balance for APY
Offer rate as of9/13/2024
Interest rate4.50%
Minimum to avoid fees$0
Monthly fees$0
Check writingYes
Member FDIC
Savings Account
4.7
Rating: 4.7 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.10
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 9/13/2024
$0
Min. balance for APY
Promoted offer
BMO Alto
Member FDIC
Savings Account Details
5.10
%
APY
$0
Min balance for APY
Offer rate as of9/13/2024
Interest rate4.96%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Overall
UFB Direct is an online-only bank offering a savings account, money market account and a checking account. These come with digital banking tools, including a highly rated mobile app. The bank also offers home loans and a 24/7 customer support line.
Pros
Both the money market and savings accounts earn highly competitive yields.
The money market account offers check-writing privileges.
Customers have access to unique digital features such as SMS banking and a well-rated mobile app.
Cons
There’s a $10 monthly fee on the money market account unless you keep at least $5,000 in the account.
UFB Direct frequently relaunches its savings and money market accounts, which can be confusing for existing customers.
We want to know what you think about UFB Direct
Do you have experience with UFB Direct? Let us know your thoughts.
UFB Direct banking products
5.0
/5
Rating: 5 stars out of 5
See methodologyCompare savings rates
SCORE BREAKDOWN
APY offering:
5.15%
Rating: 5 stars out of 5
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
Rating: 5 stars out of 5
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Great
Rating: 5 stars out of 5
5/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
FEATURES
5.15% APY
APY last updated between 9/6 and 9/12.
$0 minimum balance for APY
$0 minimum deposit to open
UFB Direct savings overview
The UFB Direct Portfolio Savings account earns a highly competitive yield and has no minimum balance requirement or monthly fee. The account earns the same interest rate on all balances.
The savings account comes with an ATM card. The bank partners with a variety of fee-free ATMs across the U.S., which can be found through its ATM locator.
It’s also free to transfer money between direct deposit accounts, and there’s no fee for incoming wire transfers.
The UFB Portfolio Savings account made its debut on July 25.
Pros
The account charges no monthly maintenance fee.
UFB Direct allows unlimited transfers from savings.
The account comes with an ATM card that can be used for free cash withdrawals at over 90,000 ATMs.
Incoming wire transfers are free.
Cons
There’s a $5 fee for receiving paper account statements.
-
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
UFB Direct
APY
APY last updated between 9/6 and 9/12.
APY
APY last updated between 9/6 and 9/12.
National average APY
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
UFB Direct savings rates
Date
Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.
UFB Direct
APY
APY last updated between 9/6 and 9/12.
APY
APY last updated between 9/6 and 9/12
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
09/03/2024 5.15% 0.62% 07/30/2024 5.15% 0.59% 05/07/2024 5.25% 0.59% 04/02/2024 5.25% 0.58% 03/05/2024 5.25% 0.57% 01/02/2024 5.25% 0.58% 12/05/2023 5.25% 0.57% 11/07/2023 5.25% 0.60% 10/03/2023 5.25% 0.58% 09/19/2023 5.25% 0.57%
Compare Offer
Sponsored Offer
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.
Member FDIC
Savings Account
4.25
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 9/13/2024
Rating: 4.9 stars out of 5
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min balance for APY
American Express
Member FDIC
Savings Account Details
4.25
%
APY
$0
Min balance for APY
Offer rate as of9/13/2024
Interest rate4.16%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Promoted offer:
4.1
Rating: 4.1 stars out of 5
Bankrate Score
Compare top money market rates
UFB Direct money market overview
The UFB Direct Portfolio Money Market account offers check-writing privileges. The account offers a high APY that’s earned on all balances. However, a minimum balance of $5,000 is required to avoid the $10 monthly fee.
The money market account comes with a number of helpful digital tools, including mobile check deposit, the option to bank through SMS and a highly rated app.
The UFB Portfolio Money Market account made its debut on July 25.
Pros
The account has check-writing privileges.
Mobile check deposit is available.
All balances earn a competitive yield.
Cons
There’s a $10 monthly fee unless you maintain a balance of at least $5,000.
4.6
Rating: 4.6 stars out of 5
Bankrate Score
Compare top checking rates
UFB Direct checking overview
The UFB Direct Freedom Checking account first launched in early August 2023.
UFB Direct customers with a Freedom Checking account and a Portfolio Savings account can earn a boost of up to 20 basis points on their savings account yield if you:
- Have at least $5,000 worth of direct deposit credits into your account to earn a five basis point increase on your Portfolio savings account APY.
- Have at least $10,000 in the account to earn another 10 basis point increase on your Portfolio savings account yield.
- And you’ll need to make at least 10 eligible debit card transactions in order to earn the final five basis points of the maximum 20 basis point bonus for the Portfolio savings account.
The Freedom Checking account doesn’t have a minimum opening deposit requirement, and it doesn’t have a monthly service fee.
Pros
Having both a UFB Freedom Checking account and a UFB Portfolio Savings account can help you earn a higher APY, as long as you meet the requirements.
The Freedom Checking account doesn’t have a minimum opening deposit requirement.
The Freedom Checking account doesn’t have a monthly service fee.
Cons
The UFB Freedom Checking account doesn’t earn interest.
You’ll need to work to earn the up to 20 basis point boost on your Portfolio savings yield.
Compare Offer
Sponsored Offer
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.
Member FDIC
Checking Account
0.50
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 9/13/2024
Rating: 4.9 stars out of 5
Bankrate Checking rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
To open
$0
To avoid fees
SoFi
Member FDIC
Checking Account Details
0.50
%
APY
$0
To open
$0
To avoid fees
Offer rate as of9/13/2024
Minimum to avoid fees$0
Monthly fees$0
Overdraft/NSF fees$0
Out of network ATM fee$0
Has online accessYes
Compare more:Bankrate's best savings account offers
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft/ Non-sufficient funds fee | $25 |
| Monthly maintenance fee | $0-$10 |
| Out-of-network ATM fee | None |
| Excessive transaction fee | $10 |
| Paper statements | $5 |
Find out:Tips to avoid common bank fees
Customer experience
Customer support
24/7 support. Customers can call a support line that’s available 24/7, except on bank holidays, or they can reach out through an online chat feature that’s available weekdays from 8 a.m. to 5 p.m. PT. The chatbot on the app answers questions quickly and accurately, according to a Bankrate staff member with a UFB account.
Digital experience
Highly rated mobile app. UFB Direct’s mobile banking app offers standard digital features, such as mobile deposit capture, digital verification and account transfers. It earns a high score in the Apple App and Google Play stores. Collectively, the apps have been reviewed by more than 14,000 users.
APYs are difficult to find. While UFB typically offers high yields, the bank reserves the right to change the APY at any time, but it isn’t easy to confirm those changes. Each account’s APY is hidden at the bottom of a detail section that’s accessible only after clicking on the account, sliding over several options, then scrolling all the way to the bottom, according to a Bankrate staff member with a UFB account.
Slow account updates. While the app supports linked accounts from other banks, it rarely displays the correct funds from non-UFB accounts, said a Bankrate staff member who uses UFB personally. This undermines the overall financial view aspect of the dashboard.
Bankrate staff insights
“UFB Direct’s high-yield savings account remains one of the best options on the market,” said a Bankrate staff member with a UFB account. “The simplified app enables you to transfer your funds and forget about fiddling with complexity while your accounts accrue interest.”
Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.
About UFB Direct
UFB Direct is an online-only bank that was established in 1999. It is a division of Axos Bank.
In the past, UFB Direct has had minimum balance requirements to earn interest, but now its two accounts offer competitive interest rates on all balances. No checking accounts or CDs are offered.
How UFB Direct compares to other banks
Compare different account types offered by UFB Direct. Annual percentage yields (APYs) shown were updated between Sept. 6, 2024 and Sept. 12, 2024.
Selected bank UFB Direct savings account
Member FDIC Bankrate score Rating: 5 stars out of 5 5.0 Bankrate Savings rating = 5.0/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. | Most comparable Bask Bank savings account
Member FDIC Bankrate score Rating: 4.7 stars out of 5 4.7 Bankrate Savings rating = 4.7/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review | Search for or select a bank: No banks found
Bankrate score Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
|---|---|---|
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Sept. 6, 2024 and Sept. 12, 2024. | ||
| 5.15% | 5.10% | |
Minimum balance for APY | ||
| $0.00 | $0.00 | |
Estimated earnings Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply. | ||
| $2,575 | $2,550 | |
| The UFB Portfolio Savings account earns one of the top yields available. The account pays the same APY on all five balance tiers. An ATM card is available, and there are no monthly service fees with this account. | Bask Bank’s Interest Savings Account earns a highly competitive APY, with no minimum balance requirement or monthly fees. The bank also offers a Mileage Savings Account, which allows you to earn American Airlines miles as rewards, based on your monthly balance. | |
|
| N/A |
|
| N/A |
Selected bank UFB Direct money market account
Member FDIC Bankrate score Rating: 4.1 stars out of 5 4.1 Bankrate Money Market rating = 4.1/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. | Most comparable CFG Community Bank money market account
Member FDIC Bankrate score Rating: 4.3 stars out of 5 4.3 Bankrate Money Market rating = 4.3/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review | Search for or select a bank: No banks found
Bankrate score Bankrate Money Market rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
|---|---|---|
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Sept. 6, 2024 and Sept. 12, 2024. | ||
| 5.15% | 5.23% | |
Minimum balance for APY | ||
| $0.00 | $1,000.00 | |
Estimated earnings Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply. | ||
| $2,575 | $2,615 | |
| The UFB Portfolio Savings account earns one of the top yields available. The account pays the same APY on all five balance tiers. An ATM card is available, and there are no monthly service fees with this account. | CFG Bank has been around since 2009. It offers its CFG High Yield Money Market both online and in a branch. You can earn a competitive APY with the High Yield Money Market account, but you’ll only earn interest on balances of $1,000 or more. You’ll also need at least $1,000 to open this account. | |
|
| N/A |
|
| N/A |
UFB Direct FAQs
Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
Feedback submitted
Thank you for sharing your experience with Bankrate
