UFB Direct Bank Reviews & Ratings
Posted On: 6/14/2008The interest rates are high. they did drop after I opened the account but I guess they’re dropping everywhere. I’ve been a customer for about 2 years and I highly recommend them to my friends. I still use another account for my checking but this one rocks for savings.
Posted On: 3/04/2008I opened an account with the intention of storing money at UFB and drawing it out to my hometown checking account as I need it. I opened the account and funded it with $100. Turns out that UFB does not have ACH capabilities and neither does my hometown bank. So my money was stuck. So I tried to close the account. Turns out there a $30 fee for closing the account prior to the six-months. I could leave the $1 minimum balance in the account but they would charge me $10 to mail me a check for the balance.
For the record, I kept at it with the customer service rep (whoe was more than polite, by the way) asking to talk with upper management several times. Each time, they were busy or in meetings, but finally after much ado, they agreed to waive the early closure fees. What a hassle!!!!
Posted On: 1/25/2008I just moved $$$ from Amtrust 4.6% to UFB (5.0%) last 5 days ago and yesterday UFB went below Amtrust. 
.. I am new so I don’t know about their service but Amtrust is faster in transferring $.
Every bank lower their interest, so what can I say…
.. I am new so I don’t know about their service but Amtrust is faster in transferring $. Every bank lower their interest, so what can I say…
Posted On: 1/19/20083-5 days bank to bank transfers.
Interest rates one of highest in Nation.
Fairly easy to withdraw funds.
Interest rates one of highest in Nation.
Fairly easy to withdraw funds.
Posted On: 12/27/2007
*Annual Percentage Yield (APY) is accurate as of July 25, 2007. Rates may change after account is opened. The regular interest rate on balances of $0 – $4,999.99 is 5.10% (5.22% APY), on balances of $5,000 – $9,999.99 is 5.10% (5.22% APY) and on balances of $10,000 and up is 5.10% (5.22% APY).
Posted On: 12/14/2007Good interest rate, but have had to open a second account to maintain it. Checks deposited have a 5 day holding period. Connected to a brokerage account so I pull money out every month. Have not tried to pull out a large amount, say, to buy a car or other purchase. Good for parking cash, but not as flexible as a standard checking account. ATM card is very useful; fee rebates and works fine overseas. The amount of interest I have earned has been worth the minor amount of work Ive had to do, but arguably I shouldnt have to do any more work than my normal credit union.
Posted On: 12/08/2007have to initiate transfers from a linked account, bothersome. as soon as i opened account, they lowered rate, but still not bad.
Posted On: 11/30/2007They do not do ACH transfers. You must mail/UPS in deposits. Good rate, but read the fine print to get funds in/out of this account.
Posted On: 11/29/2007So far so good. Sign up was easy. I was able to quickly set up ufb as an external account from gmac with no problem and transfer funds to account. Rate shown is as advertised. Customer service is friendly also. Go for it!
Posted On: 10/29/2007Low fees and great rates what else do you want.
Posted On: 10/27/2007Bait and Switch Bank. They lower the rate of current customers while giving new customers the high rate.
Posted On: 10/10/2007Tricked,I also opened a 5.31% account with these guys then Without warning, in July they changed the name on the same Web Page ad and keep everything else the same. I checked rates online but did not notice they little difference in the account name. It cost me $400 in lost interest before I looked at my paper copy and noticed the different interest rate on my account. The changed it to the new account name right away when I caught them, so watch every detail of this Bank or youll lose big time.
Posted On: 9/27/2007I was declined because check systems pulled something on me from 5 yrs. ago when I was in a bad car accident and was in the hospital for 7 months. My business account went over $300.00 and by the time I got out and found out what had happened I was reported. Even though it was paid and had medical circumstances they refused to open an account for me. So I took my money to Countrywide!
Posted On: 9/20/2007I have had many of the same issues.
Long periods to deposit a mailed check (I thought it had been lost in the mail – an obvious way to get out of paying interest). Took almost two weeks to see it deposited.
Firefox does not work well with their website.
Te lowering of interest rates unless you switched accounts even though they are virtually identical.
Their automatic ATM rebate is the reason I stay with them.
Posted On: 8/20/2007Tricky, tricky, tricky! I opened a purportedly 5.31% account with these guys in February. Without warning, in July (while I was out of the country)they created a new ype of account, — one which received the 5.31% — then demoted the ype of account I had to a lower annual yield of 4%. The two accounts are identical in every way (I was told that upon switiching to the
ew account, my account number would be exactly the same!). The name is different, however. Another difference is that the
ew account is supposedly subject to a tiered interest rate depending on balance — but when I asked what the rate was at each tier, they admitted that the rate is the same for all tiers (5.31%). Quite obviously, this is a way for UFB to apply bait-and-switch tactics — bring depositors in with a competitively high rate, then lower the rate on the fish already hooked, while continuing to attract new prey by publicizing continued high rates. Customer service informed me it is my responsibility to call every Tuesday to see if any changes have taken place to my account. Fair enough! But Im writing this to put the word out! BUYER BEWARE with this bank!
ew account, my account number would be exactly the same!). The name is different, however. Another difference is that the
ew account is supposedly subject to a tiered interest rate depending on balance — but when I asked what the rate was at each tier, they admitted that the rate is the same for all tiers (5.31%). Quite obviously, this is a way for UFB to apply bait-and-switch tactics — bring depositors in with a competitively high rate, then lower the rate on the fish already hooked, while continuing to attract new prey by publicizing continued high rates. Customer service informed me it is my responsibility to call every Tuesday to see if any changes have taken place to my account. Fair enough! But Im writing this to put the word out! BUYER BEWARE with this bank!
Posted On: 8/04/2007Great rate from a safe bank. However, CS is terrible- lost a fax, and took two weeks to deposit a check. They DO NOT offer ACH. You have to initiate ACH from another account. No ACH fees, but the hassle in transferring from UFB savings to my brokerage to my checking will make me search for alternatives.
Posted On: 6/29/2007Very nice service. Sign up was painless, and customer service is responsive. I set up ACH transfer to my brokerage and my credit card – direct. That is very nice.
Note that they have changed the interest rates as of today. You need $10k to get the 5.31% max, but it starts at 5.11% which is still good. If you have an existing account, make sure that you are getting the absolute savings rate and not money market, which is 4.40%
Posted On: 5/23/2007I have one complaint from the sign up process: At the very end, I get a page saying that they are verifying my information, but that page never does anything else. After speaking to a friendly rep on the phone, they said that it was a Firefox issue. What?! Im going to complain about this. But otherwise my experience has been good so far.
Posted On: 5/14/2007decent 6 month cd rate
Posted On: 5/14/2007i think this is the best.Good APY and a very nice min deposit too.
Posted On: 5/13/2007Good bank with a good rate
Posted On: 5/12/2007i think with the interest rate and the min deposit its offering,it really attractive.
Posted On: 5/11/2007No annual fee and a competitive APY%. Low minimum is an added bonus
Posted On: 5/11/2007No annual fee and a competitive APY%. Low minimum is an added bonus
Posted On: 5/11/2007Well I always like small deposite amount banks because it could give a chance to put some money.:)
Posted On: 5/11/2007nice rate with UFB direct
Posted On: 5/11/2007Good rate with low deposit and no annual fee.
Posted On: 5/10/2007$1 is too low…
Rate is also good.
Rate is also good.
Posted On: 5/10/2007Absolutely top notch rate with no minimums, great for those of us without millions of bucks!
Posted On: 5/10/2007nice rate, low minimum to open!
