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UFB Direct is an excellent option if you're searching for a competitive interest rate on a money market account or savings account. If you'd also like a checking account or CD, you might consider other institutions because UFB Direct doesn't have these accounts.
| Account | APY (Annual Percentage Yield) | Minimum Deposit |
| UFB Secure Savings | 5.25% | $0 |
| UFB Secure Money Market | 5.25% (as of 11/16/2023) | $0 |
UFB Direct Review
UFB Direct is an online division of Axos Bank (Member FDIC). UFB Direct has an online-only high-yield savings account and a money market account.
Usually, savings accounts do not come with ATMs cards. However, UFB Secure Savings comes with a complimentary ATM card, which is convenient for withdrawing money from ATMs. At other online banks, you may have to transfer money to an external bank account to withdraw money, which can take a few days to process.
The UFB Secure Money Market has even more access to your money through a debit card and paper checks. You'll be able to make purchases and payments using a debit card or checks.
Customers have access to over 91,000 ATMs. To find a nearby ATM, log in to online banking and use the ATM locator tool.
Call or use live chat on weekdays from 9 a.m. to 5 p.m. PT if you would like to speak with a Direct Banker.
The UFB Direct mobile app is rated 4.7 out of 5 states in the Google Play store and 4.8 out of 5 stars in the Apple store.
UFB Direct bank accounts are FDIC insured through Axos Bank. Up to $250,000 is secure in individual bank accounts, and $500,000 is protected in joint bank accounts.
Overall UFB rating
| Feature | Personal Finance Insider rating (out of 5) |
| Savings | 4 |
| Money market account | 3.5 |
| Trustworthiness | 5 |
| Total | 4.25 |
UFB Direct pros and cons
| Pros | Cons |
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UFB Direct trustworthiness
We use ratings from the Better Business Bureau to see how banks respond to customer issues. The BBB gives UFB Direct an A+ rating, and its parent company, Axos Bank, also has an A+ rating.
Neither UFB Direct nor Axos Bank has any recent public controversies.
UFB Direct Accounts
UFB offers a high-yield savings account and a money market account.
UFB Savings
You may like UFB Secure Savings if you want a straightforward account. The savings account doesn't charge monthly service fees, and it comes with a complimentary ATM card.
UFB Secure Savingsalso pays 5.25% annual percentage yield (APY). Customers with existing savings accounts may have to call customer service to get upgraded for the newest rate.
UFB Secure Savings
UFB (Axos Bank), Member FDIC
Insider’s Rating
4.25/5
Perks The Annual Percentage Yield (APY) is accurate as of 03/04/2024. The interest rate and corresponding APY for savings is variable and is set at UFB's discretion. This is a tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.
Earn 5.25% APY on your savings. No monthly maintenance fees. No minimum deposit is required to open an account.
Fees
no monthly service fee
Annual Percentage Yield (APY)
5.25%
Minimum Opening Deposit
$0
Pros
- High interest rate
- No monthly service fee
- No minimum opening deposit
- ATM card included
Cons
- May not be easy to deposit cash (Only cash accepting ATMs)
Insider’s Take
UFB Direct is an excellent option if you're searching for a competitive interest rate on a money market account or savings account. If you'd also like a checking account or CD, you might consider other institutions because UFB Direct doesn't have these accounts.
Product Details
- Earn up to 5.25% APY*.
- No monthly maintenance fees.
- No minimum deposit required to open an account.
- Access your funds 24/7 with easy-to-use digital banking tools.
- Enjoy peace of mind with FDIC insurance up to the maximum allowance limit ® Certificate #35546.
- * The Annual Percentage Yield (APY) is accurate as of 03/04/2024. The interest rate and corresponding APY for savings is variable and is set at UFB's discretion. This is a tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.
UFB Money Market Account
You may favor the UFB Secure Money Market if you would like a bank account that includes paper checks and a debit card. However, you must maintain a $5,000 balance to avoid a $10 monthly service fee.
This account also pays 5.25% (as of 11/16/2023) APY.
UFB Secure Money Market
UFB Direct, FDIC insured through Axos Bank
Insider’s Rating
3.5/5
Perks
Earn 5.25% Annual Percentage Yield (APY). $0 minimum deposit. FDIC Insured.
Fees
$10 monthly service fee
Annual Percentage Yield (APY)
5.25% (as of 11/16/2023)
Minimum Opening Deposit
$0
Pros
- No minimum opening deposit
- High interest rate
- Check writing included
- Debit card option
- Possible to waive monthly maintenance fees
Cons
- $10 monthly service fee
Insider’s Take
You may favor the UFB Secure Money Market if you would like a bank account that includes paper checks and a debit card.
Product Details
- Earn 5.25% APY*.
- No monthly maintenance fees with a $5,000.00 balance, otherwise fee is $10.00 per month.
- Access your funds 24/7 with easy-to-use digital banking tools.
- Enjoy peace of mind with FDIC insurance up to the maximum allowable limit – Certificate #35546.
- * The Annual Percentage Yield (APY) is accurate as of 11/16/2023. The interest rate and corresponding APY for savings is variable and is set at UFB's discretion. This is a tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.
Compare UFB Direct
See how UFB Direct compares to top savings accounts.
UFB Direct vs. Bread Savings
You might prefer UFB Direct if you are strictly looking to earn the highest interest rate on a savings account.Meanwhile the Bread Savings High-Yield Savings Account offers 5.15% APY. Interest rates tend to fluctuate, though, so this may change in the future.
Your decision between two online banking platforms also might ultimately depend on which types of accounts you'd like to open. UFB Direct has a high-yield savings account and a money market account. Bread Savings offers a high-yield savings account and CDs. If you'd like to get a checking account, you'll have to consider other banks.
UFB Direct vs. Bask Bank
If you'd prefer to earn a more competitive interest rate on a savings account, UFB Direct might be a more suitable choice. However, the Bask Bank Interest Savings Account pays 5.10% APY regardless of your account balance.
UFB Direct also may be a better option if you'd like accounts with a debit card or ATM card. Bask Bank doesn't offer debit cards, ATM cards, or an ATM network.
Bask Bank may be a better choice if you're a frequent traveler. The Bask Bank Mileage Savings Account stands out from most savings accounts because you can earn American Airlines AAdvantage miles on your savings.
UFB Direct Frequently Asked Questions
Is UFB Direct legit?
Yes, UFB Direct is legitimate. It's an online division of Axos Bank, which is an FDIC-insured bank. This means your insured deposits are safe should either UFB Direct or Axos shut down.
What is the interest rate for the UFB Secure Savings?
The UFB Secure Savings pays 5.25%. To earn 5.25%, you must open an account and deposit any amount.
Are UFB Direct accounts FDIC insured?
UFB Direct savings and money market accounts are FDIC insured through Axos Bank. This means that your money is safe even in the rare event that the bank shuts down. Your money will be transferred to another bank account with FDIC insurance, or it will be sent to you as a check.
Can you deposit cash at UFB Direct?
Yes. You may make cash deposits at select ATMs. You must log in to UFB Direct's website to use the ATM Locator tool.
Banking Editor
Sophia Acevedo is a banking editor at Business Insider. She edits and writes bank reviews, banking guides, and banking and savings articles for the Personal Finance Insider team. She is also a Certified Educator in Personal Finance (CEPF).Sophia joined Business Insider in July 2021. Sophia is an alumna of California State University Fullerton, where she studied journalism and minored in political science. She is based in Southern California.You can reach out to her on Twitter at @sophieacvdo or email sacevedo@businessinsider.com.Read more about how Personal Finance Insider chooses, rates, and covers financial products and services >>Below are links to some of her most popular stories:
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Evelyn He is a compliance and operations associate at Business Insider who supports the Personal Finance Insider team. Personal Finance Insider is Business Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Business Insider readers already know and love.The compliance team's mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.Before joining Business Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries.Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst.Outside of work, she enjoys spending time with her 15-year-old Shih Tzu named Money, and her 5-year-old Bichon named Tibber.
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