At a glance

3.6

Bankrate Score

Savings

MMA

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Overview

UFB Direct is geared toward savers looking for high yields. However, it only offers savings and money market accounts for deposit accounts. Both accounts earn highly competitive APYs on all balances. The bank also offers mortgages.

Highlights

High APY
24/7 Customer Service

Overall

UFB Direct is an online-only bank offering savings and money market accounts that 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

Account types are limited to a savings account and a money market account.
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.

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UFB Direct banking products

4.5

/5

See methodology Compare savings rates

SCORE BREAKDOWN

APY offering:

5.25%

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 to earn interest:

$0.00

5/5

The lowest deposit amount an account must have before it can earn interest.

Monthly service fee:

$0.00

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

5/5

The lowest balance an account must maintain in order to avoid a fee.

Access to funds:

N/A

0/5

A procedure that allows an individual or organization to access and manage the funds of another account holder.

FEATURES

5.25% APY

APY last updated between 5/6 and 5/12.

$0 minimum deposit to open

UFB Direct savings overview

The UFB Secure 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, and there are no limits to how many withdrawals you can make from the account. 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.

It’s also free to transfer money between direct deposit accounts, and there’s no fee for incoming wire transfers.

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.

Rate history for UFB Direct's Savings account

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 5/6 and 5/12.

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.

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 5/6 and 5/12.

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.

Compare Offer

UFB Direct money market overview

The UFB Secure 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.

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.

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 7,000 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.”

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 May 6, 2024 and May 12, 2024.

Selected bank UFB Direct savings account Member FDIC Bankrate score Rating: 4.5 stars out of 5 4.5 Bankrate Savings rating = 4.5/5 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	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. Read review
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 May 6, 2024 and May 12, 2024.
5.25%	5.10%
Minimum balance for APY
$0.00	$0.00
Estimated earnings Interest earned calculation based on a $25,000 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.
$1,313	$1,275

The UFB Rewards Savings account earns one of the top yields available. The account pays the same APY on all balances. 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.

This account pays one of the top yields available. The UFB Rewards Savings account has an ATM card. All balances earn the same APY. The account doesn’t require a minimum deposit.	Bask Bank’s Interest Savings Account earns a top-notch yield. The Interest Savings Account doesn’t charge a maintenance fee or require a set minimum balance.	N/A
The UFB Direct website says it takes 15 minutes to get this account. Other banks advertise a quicker account opening process.	Bask charges $35 per outgoing wire transfer, which is steep compared to other banks. Neither savings account comes with ATM access.	N/A

APY offering: 5.25% 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 to earn interest: $0.00 5/5 The lowest deposit amount an account must have before it can earn interest. Monthly service fee: $0.00 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 5/5 The lowest balance an account must maintain in order to avoid a fee. Access to funds: N/A 0/5 A procedure that allows an individual or organization to access and manage the funds of another account holder.	APY offering: 5.10% 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 to earn interest: $0.00 5/5 The lowest deposit amount an account must have before it can earn interest. Monthly service fee: $0.00 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 5/5 The lowest balance an account must maintain in order to avoid a fee. Access to funds: Great 5/5 A procedure that allows an individual or organization to access and manage the funds of another account holder.	APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. The lowest deposit amount an account must have before it can earn interest. A monthly charge a financial institution deducts from an account if certain requirements are not met. The lowest balance an account must maintain in order to avoid a fee. A procedure that allows an individual or organization to access and manage the funds of another account holder. Bankrate does not currently track additional product details for this bank.

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	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. Read review
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 May 6, 2024 and May 12, 2024.
5.25%	5.25%
Minimum balance for APY
$1.00	$1,000.00
Estimated earnings Interest earned calculation based on a $25,000 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.
$1,313	$1,313

The UFB Rewards Savings account earns one of the top yields available. The account pays the same APY on all balances. 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.

This account pays one of the top yields available. The UFB Rewards Savings account has an ATM card. All balances earn the same APY. The account doesn’t require a minimum deposit.	CFG offers a competitive APY on its High Yield Money Market account. The account is available both online and in CFG branches.	N/A
The UFB Direct website says it takes 15 minutes to get this account. Other banks advertise a quicker account opening process.	A $1,000 minimum balance must be maintained to earn interest or avoid a monthly service fee. Check writing is not available with the account.	N/A

APY offering: 5.25% 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 to earn interest: $1.00 5/5 The lowest deposit amount an account must have before it can earn interest. Monthly service fee: $10.00 3/5 A monthly charge a financial institution deducts from an account if certain requirements are not met. Minimum balance to avoid fee: $5,000.00 2/5 The lowest balance an account must maintain in order to avoid a fee. Check writing: Yes 5/5 The ability to write a certain amount of checks within a statement cycle. Debit/ATM access: N/A 0/5 The ability to withdraw funds from an account through the use of debit or ATM card	APY offering: 5.25% 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 to earn interest: $1,000.00 4/5 The lowest deposit amount an account must have before it can earn interest. Monthly service fee: $10.00 3/5 A monthly charge a financial institution deducts from an account if certain requirements are not met. Minimum balance to avoid fee: $1,000.00 4/5 The lowest balance an account must maintain in order to avoid a fee. Check writing: Yes 5/5 The ability to write a certain amount of checks within a statement cycle. Debit/ATM access: Subpar 2/5 The ability to withdraw funds from an account through the use of debit or ATM card	APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. The lowest deposit amount an account must have before it can earn interest. A monthly charge a financial institution deducts from an account if certain requirements are not met. The lowest balance an account must maintain in order to avoid a fee. The ability to write a certain amount of checks within a statement cycle. The ability to withdraw funds from an account through the use of debit or ATM card Bankrate does not currently track additional product details for this bank.

UFB Direct vs. Ally Bank

As online-only banks, both UFB Direct and Ally offer competitive yields on their deposit products, but UFB currently offers higher rates. However, Ally as a whole has a larger range of accounts, offering everything from credit cards to checking accounts and CDs.

As such, if you’re looking to consolidate your banking under one roof, Ally may be the better choice. However, if you’re just looking for a savings or money market account, UFB’s yield is hard to beat. The money market account charges a $10 monthly fee unless you maintain a $5,000 balance, but there’s no withdrawal limit. In contrast, Ally doesn’t charge a monthly fee for its money market account but does have a 10-per-month withdrawal limit.

Learn more: The best online banks

UFB Direct FAQs

UFB Direct is best for customers comfortable with banking solely online and those looking to grow their savings. The bank offers one of the most competitive yields for a savings or money market account we’ve seen. But since UFB only provides a savings account, a money market account and mortgages, it won’t be your one-stop shop for all your banking.
Yes. UFB Direct is the online-only division of Axos Bank, which was established in 2000 and has around $20 billion in assets. As a member of the Federal Deposit Insurance Corp. (FDIC) member, account holders are insured up to $250,000 per holder, per account ownership type.
Yes. UFB Direct is an FDIC-insured institution established in 1999.
Yes, UFB Direct is the online-only division of Axos Bank.

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.

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 5/6 and 5/12. APY last updated between 5/6 and 5/12	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.
05/07/2024	5.25%	0.58%
04/30/2024	5.25%	0.58%
04/23/2024	5.25%	0.58%
04/16/2024	5.25%	0.58%
04/09/2024	5.25%	0.58%
04/02/2024	5.25%	0.58%
03/26/2024	5.25%	0.57%
03/19/2024	5.25%	0.57%
03/12/2024	5.25%	0.57%
03/05/2024	5.25%	0.57%
02/27/2024	5.25%	0.58%
02/20/2024	5.25%	0.58%
02/13/2024	5.25%	0.58%
02/06/2024	5.25%	0.58%
01/30/2024	5.25%	0.58%
01/23/2024	5.25%	0.58%
01/16/2024	5.25%	0.58%
01/09/2024	5.25%	0.58%
01/02/2024	5.25%	0.58%
12/26/2023	5.25%	0.57%
12/12/2023	5.25%	0.57%
12/05/2023	5.25%	0.57%
11/28/2023	5.25%	0.60%
11/21/2023	5.25%	0.60%
11/14/2023	5.25%	0.60%
11/07/2023	5.25%	0.60%
10/31/2023	5.25%	0.58%
10/24/2023	5.25%	0.58%
10/17/2023	5.25%	0.58%
10/10/2023	5.25%	0.58%
10/03/2023	5.25%	0.58%
09/26/2023	5.25%	0.57%
09/19/2023	5.25%	0.57%
09/12/2023	5.25%	0.57%
09/05/2023	5.25%	0.57%
08/29/2023	5.25%	0.54%
08/22/2023	5.25%	0.54%
08/17/2023	5.25%	0.54%
08/15/2023	5.25%	0.54%
08/11/2023	5.06%	0.54%
08/08/2023	5.06%	0.54%
08/01/2023	5.06%	0.54%
07/25/2023	5.06%	0.54%
07/18/2023	4.81%	0.54%
07/11/2023	4.81%	0.54%
07/10/2023	4.81%	0.54%
07/04/2023	4.81%	0.54%
06/27/2023	4.81%	0.49%
06/20/2023	4.81%	0.49%
06/13/2023	4.81%	0.49%
06/06/2023	4.81%	0.49%
05/30/2023	4.81%	0.47%
05/23/2023	4.81%	0.47%
05/16/2023	4.81%	0.47%

UFB Direct Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

We want to know what you think about UFB Direct

UFB Direct banking products

UFB Direct savings overview

Pros

Cons

Rate history for UFB Direct's Savings account

UFB Direct money market overview

Pros

Cons

Bank fees

Customer experience

Customer support

Digital experience

Bankrate staff insights

About UFB Direct

How UFB Direct compares to other banks

UFB Direct vs. Ally Bank

UFB Direct FAQs

Who is UFB Direct best for?

Is UFB Direct safe?

Is UFB Direct a legitimate bank?

Is UFB Direct a part of Axos?

Review methodology

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