UFB Direct Secure Savings (May 2024)

UFB Direct Secure Savings is a high-yield savings account available through the online bank UFB Direct, a division of Axos Bank. Its rates are more than 10 times the national average savings rate of 0.47% APY, according to the FDIC.

UFB Direct does not charge monthly maintenance fees on UFB Direct Secure Savings. 

When you open a Secure Savings account, you get a free debit card and fee-free access to more than 91,000 ATMs nationwide. The bank doesn’t charge a fee for out-of-network ATM use, but the ATM owner may impose a fee. UFB Direct also does not place limits on the number of funds transfers you can make each month.

Account Name	APY*	Minimum Opening Deposit
Secure Savings	Up to 5.25%	None

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UFB Direct vs. Competitors

The best high-yield savings accounts generally offer APYs ranging from 4% to 5%. UFB Direct Secure Savings currently ranks among the top high-yield savings accounts for earning power. A recent MarketWatch Guides consumer banking survey showed that 62% of Americans earn less than 3% APY on their savings or money market accounts.

With no monthly fees and convenient fee-free ATM access, UFB Direct Secure Savings offers enough flexibility to compete with the top savings accounts. Still, there are other online banks and credit unions that may offer higher rates on savings accounts along with valuable account features and benefits. 

Here’s a look at how UFB Direct Secure Savings compares to its competitors.

Bank	APY*	Minimum Opening Deposit
Ally	4.20%	$0
Axos Bank	Up to 3.30%	$250
BrioDirect	5.35%	$5,000
CIT Bank	5.05%	$100
Discover	4.25%	$0
SoFi	Up to 4.60%	$0
UFB Direct	5.25%	$0

Use our savings calculator to compare UFB Direct Secure Savings to savings accounts from other banks.

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UFB Direct Account Terms

UFB Direct Secure Savings has a few fees, along with some conditions and limitations. Here’s a look at bank fees you may pay as a UFB Direct account holder: 

• Paper account statement: $5
• Debit card foreign currency conversion fee: 1% 

As an account holder, you have unlimited free bank transfers, allowing you to move your money in and out of your savings account as needed. However, there are daily and monthly transfer limits associated with the account. UFB Direct also places daily limits on ATM transactions: 

• Maximum transfer to your account at funding: $250,000
• Maximum daily transfer limit (after funding): $30,000 
• Maximum monthly transfer limit (after funding): $60,000
• ATM cash withdrawals: $510 daily
• Point-of-sale ATM card transactions: $500 daily

You can open a UFB Direct Secure Savings account in minutes online through the bank’s website. You must be 18 years of age and a U.S. citizen or resident alien to apply. Like most banks, UFB Directs asks you to provide certain personal information to verify your identity, including: 

• Valid government-issued ID
• Social Security number
• Valid U.S. mailing address
• Mobile phone number
• Email address

You can choose to set up your savings account as an individual, joint, trust or minor account. Minor accounts are available for individuals ages 13 to 17 and require a parent or guardian to be the primary owner of the account.

UFB Direct Secure is a solid choice for anyone who wants to make the most of their savings deposits. Finding a savings account with a high APY is the first step to earning more on your money, but it’s not the only detail to consider when choosing a savings account. 

Other factors to take into account in your decision include bank fees, account requirements, convenience, security, customer service and your banking needs. UFB Direct stacks up well in these categories as well.

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*Rates accurate as of 5/01/2024

**Data accurate at time of publication

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