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UFB Direct Review 2022

Updated December 2, 2022
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At a glance

2.9
Rating: 2.9 stars out of 5
Bankrate Score
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Savings

Rating: 3.6 stars out of 5

MMA

Rating: 2.9 stars out of 5

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Overview

UFB Direct is geared toward savers and only offers savings and money market accounts. Both accounts earn less-than-competitive APYs and have high balance requirements.

Highlights

  • No Monthly Fees
Compare offers
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 2.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

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.

Pros

  • Checkmark

    The money market account offers check-writing privileges and ATM access.

  • Checkmark

    There are no monthly maintenance fees.

Cons

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

  • Both deposit products offer below-average APYs and have high balance requirements to earn interest.

  • The bank’s website offers limited information.

UFB Direct bank products

3.6
Rating: 3.6 stars out of 5
Bankrate Score

UFB Direct savings overview

The UFB High Yield Savings account offers an uncompetitive yield and requires a lofty minimum balance of $10,000 to earn it. Balances below that tier earn zero APY.

Pros

  • Checkmark

    The account charges no monthly maintenance fee.

  • Checkmark

    UFB Direct allows unlimited transfers from savings.

Cons

  • Other banks offer higher APYs.

  • Balances under $10,000 don't earn any interest.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 2.9 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

UFB Direct’s mobile banking app offers standard digital features, such as mobile deposit capture and the ability to transfer funds. It earns a high score in the Apple App Store; less so on Google Play. Customers can also link their online bank accounts to Apple Pay or Google Pay for payments.

The online-only bank has several measures set up for protecting your funds, including digital verification and the ability to dispute suspicious transactions online.

About UFB Direct

UFB Direct is an online-only bank that was established in 1999. It is a division of Axos Bank.

UFB Direct’s yields on its savings and money market accounts are lower than many other online banks, and the savings account pays no interest on balances of less than $10,000. No checking accounts or CDs are offered.

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.