UFB Direct Review 2023
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At a glance

Savings
MMA
About Bankrate Score
Overview
UFB Direct is geared toward savers and only offers savings and money market accounts for deposit accounts. Both accounts earn competitive APYs on all balances. The bank also offers mortgages.
Highlights
- No Monthly Fees
- High APY
- 24/7 Customer Service
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 3.5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
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.
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
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The money market account offers check-writing privileges and ATM access.
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Both the money market and savings accounts earn competitive yields.
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There are no minimum balance requirements.
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Customers have access to unique digital features such as SMS banking and a well-rated mobile app.
Cons
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Account types are limited to a savings account and a money market account.
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There’s a monthly fee on the money market account unless you keep at least $5,000 in the account.
UFB Direct banking products
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of 6/8/2023
UFB Direct savings overview
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.
Pros
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The account charges no monthly maintenance fee.
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UFB Direct allows unlimited transfers from savings.
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The account comes with an ATM card that can be used for free cash withdrawals at over 90,000 ATMs.
Cons
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 3.5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank fees
Fee | Charged? |
---|---|
Overdraft fee | None |
Non-sufficient funds fee | $25 |
Monthly maintenance fee | $0-$10 |
Out-of-network ATM fee | None |
Excessive transaction fee | $10 |
Paper statements | $5 |
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.
Bank experience
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 Store and Google Play. Customers can also link their online bank accounts to Apple Pay or Google Pay for payments.
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.
How does UFB Direct compare to other banks?
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 six-per-month withdrawal limit.
UFB Direct FAQs
Review methodology
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.