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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.
About UFB Direct
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.
UFB Direct Pros and Cons
UFB Direct Pros
UFB Direct's high-yield savings account and money market account both come with the same high interest rate. Both accounts offer the same interest rate for each of their tiers — which means you'll earn 5.25% no matter how much money is in your account.
UFB Direct's savings account doesn't come with any monthly service fees or minimum balance requirements. It also comes with an ATM card, which isn't very common for savings accounts. You can also deposit cash at some ATMs, making UFB a good choice if you want an online bank but need to be able to deposit cash.
UFB Direct's money market account comes with a debit card and paper checks, so you'll have multiple ways to access the money in your account.
UFB Direct Cons
UFB has an online-only platform, so you won't be able to go into an in-person branch to deposit money. It also doesn't offer any CDs, which could be a problem if you were hoping to lock in a good savings rate.
You'll also need to pay a $10 monthly service fee if you get a UFB Secure Money Market, although you can waive that fee if you can keep at least $5,000 in your account. If you don't think you can keep that much money in your account, you might prefer a bank that avoids bank fees.
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 Savings also 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 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% APY.
UFB Direct Alternatives
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.
Business Insider's UFB Direct Rating
| Feature | Personal Finance Insider rating (out of 5) |
| Savings | 4 |
| Money market account | 3.5 |
| Trustworthiness | 5 |
| Total | 4.25 |
UFB Direct FAQs
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.
The UFB Secure Savings pays 5.25%. To earn 5.25%, you must open an account and deposit any amount.
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.
Yes. You may make cash deposits at select ATMs. You must log in to UFB Direct's website to use the ATM Locator tool.
