UFB Direct is an online banking institution founded in 2013 and headquartered in Michigan, USA. The bank offers an array of deposit products, including checking, savings, and money market accounts. In this UFB Direct review, we’ll take an in-depth look at the different accounts UFB Direct offers, the features and benefits, and the overall banking experience. With no physical branches to maintain, UFB Direct is able to offer competitive interest rates and low or no fees on its deposit products. Additionally, UFB Direct prides itself on its 24/7 online banking platform, mobile banking app, and its superior customer service. As we delve further into this review, we’ll examine each account type in detail to help you determine if banking with UFB Direct is the right choice for you.
UFB Direct Savings Account
The UFB Direct Savings account is a high-yield online savings account with no maintenance fees and a competitive interest rate. Here are a few features and benefits of the account:
- No monthly fees or minimum balance requirements
- Competitive interest rates
- 24/7 online banking access
- Funds are FDIC-insured up to $250,000
- Easy account opening process
If you’re looking for a safe place to park your cash while earning a respectable interest rate, then the UFB Direct Savings account may be a good option for you. There are no minimum balance requirements or monthly fees, and you’ll have access to the account 24/7 online. In addition, your funds are FDIC-insured up to $250,000, so you can feel secure knowing that your savings are protected.
What is Interest Rate on UFB Direct Savings Account?
UFB Direct is an online bank offering a range of deposit products, including savings and money market accounts. The interest rates on these accounts are highly competitive. The interest rate for the UFB Direct Savings Account is currently 0.20% APY as of August 2021.
Here are some key benefits of UFB Direct Savings Account:
- No monthly maintenance fees
- No minimum balance requirement
- Free online banking and bill payment
- Mobile check deposit
- FDIC insured up to $250,000 per depositor
To open a UFB Direct Savings Account or learn more about their other deposit products, visit their website at www.ufbdirect.com.
UFB Direct Checking Account
The UFB Direct Checking account is an online checking account with a variety of benefits. Here are a few features of the account:
- No monthly fees or minimum balance requirements
- Free checks included with the account
- Nationwide ATM fee reimbursements
- 24/7 online banking access
Here is a comparison of the UFB Direct Checking Account’s features with those of other online banks:
| Features | UFB Direct Checking | Ally Bank Interest Checking | Chime Spending Account |
|---|---|---|---|
| Minimum Balance Requirements | No | No | No |
| Monthly Fees | No | No | No |
| ATM Fee Reimbursements | Nationwide | Up to $10 per statement cycle | None |
| Mobile App | Yes | Yes | Yes |
While there are other online checking accounts available, the UFB Direct Checking account offers unique features such as free checks and nationwide ATM fee reimbursements. Their 24/7 online banking access makes managing your checking account easy and convenient. Consider opening an account with UFB Direct and enjoy these amazing benefits.
Does UFB Direct have checking?
Yes, UFB Direct offers checking accounts. They currently offer one checking account option which is known as the UFB Premium Checking Account. This account comes with unique features that include free ATM access, a Visa debit card, and no account fees.
Here’s a quick summary of the UFB Premium Checking Account:
| Minimum deposit to open | $0 |
| Monthly service fee | $0 |
| ATM access | Free |
| Visa debit card | Yes |
| Interest | Yes, tiered rates |
If you’re interested in opening a UFB Premium Checking Account, you can visit their website for more information and to apply online.
UFB Direct Money Market Account
The UFB Direct Money Market account offers features that set it apart from traditional savings accounts. Here are a few benefits of the account:
- Interest rates that are higher than traditional savings accounts
- No monthly fees
- $5,000 minimum deposit requirement
- 24/7 online banking access
Here is a comparison of the UFB Direct Money Market account’s features with those of other banks:
| Features | UFB Direct Money Market | Discover Money Market | Citizens Access Money Market |
|---|---|---|---|
| Minimum Balance Requirements | $5,000 | $2,500 | $5,000 |
| Monthly Fees | No | No | No |
| Interest Rates | Up to 0.45% APY* | Up to 0.35% APY* | Up to 0.40% APY* |
| Online Banking Access | 24/7 | 24/7 | 24/7 |
While there are other money market accounts available, the UFB Direct Money Market account offers competitive interest rates with no monthly fees. The minimum deposit requirement for the account is $5,000, higher than some competitors, but still reasonable for those looking to invest. With 24/7 online banking access, managing your money market account is easy and convenient. Don’t forget to check out the UFB Direct website for more information and to apply for an account.
Is UFB Direct a money market account?
Yes, UFB Direct offers a money market account that currently has a competitive interest rate. Here are some quick facts about the account:
| Account Feature | Details |
|---|---|
| Minimum Deposit | $5,000 |
| Interest Rate | Varies, but usually higher than traditional savings accounts |
| Withdrawal Limitation | Limited to six transactions per statement cycle |
| FDIC Insurance | Up to $250,000 per account holder |
Overall, UFB Direct’s money market account can be a solid choice for those looking for a higher interest rate on their savings. However, as with any financial product, it’s important to do your own research and compare multiple options before making a decision.
FDIC Insurance and Customer Reviews
UFB Direct is a digital bank that offers FDIC insurance to its customers. Here’s what you need to know:
- FDIC insurance protects depositors’ money by insuring deposits up to $250,000 per depositor, per account ownership category.
- UFB Direct is a division of Axos Bank, which has been in business for over 20 years and has over $13 billion in assets.
- UFB Direct has received positive customer reviews on various websites, with customers praising the bank’s competitive interest rates, convenient online banking, and excellent customer service.
Here are a few customer reviews from popular review websites:
- “I have been banking with UFB for 3+ years and have always had a great experience with them. Rates are always competitive and all online banking features are easy to use. Highly recommend!” – Trustpilot review
- “I have had nothing but great experiences with UFB bank. Their rates are amazing and the mobile app is easy to navigate. Would definitely recommend this bank to others.” – Bankrate review
- “I love banking with UFB Direct. Their customer service is outstanding, and the online interface is very easy to use. Their rates are always competitive and there are no fees. Highly recommend!” – Yelp review
Overall, UFB Direct’s FDIC insurance and positive customer reviews provide customers with peace of mind and confidence in the bank’s reliability.
Is UFB Direct insured by FDIC?
Yes, UFB Direct is insured by the Federal Deposit Insurance Corporation (FDIC). This means that the FDIC provides insurance coverage to depositors in case of bank failure, up to the maximum amount allowed by law. UFB Direct is a division of Axos Bank, which is a member of the FDIC. To learn more about FDIC insurance coverage and limits, visit the FDIC website at www.fdic.gov.
Final Thoughts
If you’re looking for a digital bank that offers competitive interest rates, convenient online banking, and excellent customer service, UFB Direct is a great choice. Here are a few final thoughts to keep in mind:
- UFB Direct offers a range of banking options, including savings, checking, and money market accounts, all with no monthly maintenance fees.
- The bank’s online platform is easy to navigate and allows customers to manage their accounts, deposit checks, and pay bills 24/7.
- UFB Direct’s mobile app is highly rated and offers added convenience to customers on-the-go.
- The bank’s FDIC insurance and positive customer reviews provide customers with peace of mind and confidence in the bank’s reliability.
Overall, UFB Direct is a solid choice for those looking for a digital bank with competitive interest rates and convenient online banking options. If you’re interested in learning more or opening an account, visit UFB Direct’s website today.
What kind of bank is UFB Direct?
UFB Direct is an online bank that offers a range of banking products and services to its customers. Here’s a quick breakdown of UFB Direct’s services:
- Checking accounts with no monthly maintenance fees
- Savings accounts with competitive interest rates
- Money market accounts for higher balances and better interest rates
- Certificates of Deposit (CDs) with flexible terms and attractive rates
UFB Direct has great digital tools and resources that allow customers to access their accounts from anywhere, at any time. The bank offers a mobile app, online banking, and a convenient website that is user-friendly and easy to navigate. UFB Direct is a great choice for anyone looking for an online bank that offers competitive rates and excellent customer service.
Conclusion
In conclusion, UFB Direct is a reputable online bank that will help you manage your finances with ease. The bank’s range of accounts, online platforms, and competitive interest rates make it an attractive option for customers. With great customer service, no monthly fees, and 24/7 online banking availability, UFB Direct is an excellent choice for those looking for a digital bank. Plus, the bank’s FDIC insurance ensures that your funds are safe and secure.
If you’re tired of dealing with traditional brick and mortar banks or just want to simplify your banking experience, UFB Direct is worth considering. The process of opening an account is fast and easy. With just a few clicks, you can take the first step towards enjoying the benefits of digital banking.
In conclusion, if you’re looking for a reliable and trustworthy online bank, UFB Direct is definitely worth checking out.
