UFB Direct Reviews

I have had money in UFB Direct for a year and a half. When you first open your account there are some security procedures that some people complain about, but it’s only for your safety. The procedures are not any more difficult than opening a PayPal or eBay account. I am currently making 5.25% on my money. Depositing and withdrawing money once you open your account is a breeze!!!! I simply wish I had more principal to invest in UFB Direct to make 5.25% interest!
Mark Hart

Date of experience: July 11, 2024

They are great so long as you dont need ANY service. The customer service chat and people on the phone while accessible, are VERY HEAVILY accented english and they have almost no power or control. No supervisors exists. If a problem arises as it has for me no one can help and my money which is rather significant sum, is tied up. If you want to scream and lose your mind, then they are fine.....like calling Dell for support good luck

Date of experience: June 17, 2024

I opened an account 28 days ago and they still have it restricted. I gave them all information, even a selfie with drivers license that I never had to do before for an online account. They are now saying it is not clear enough, (it is very clear) and they want me to resubmit my copies of license and utility bill again!!! Already did it. I cannot access my money. I was planning on leaving it there for a long time but I still want to be able to access it in an emergency.

Date of experience: June 22, 2024

If it wasn't for high interest, it would be terrible. The online banking glitches all the time. Adding external accounts is close to impossible and in most cases requires the manual process that takes 5 days. Money transfers take much longer as the bank holds the money for few days.

Date of experience: May 22, 2024

terrible technology. terrible customer service. their AI can't help. I would never use this bank again for anything.

Date of experience: June 19, 2024

I just wanted to open a savings account (nothing else!) to join good APY. However UFB Direct accepts only customers with a SSN to get this benefit. I am a investors in US with good money but no SSN (only got ITIN from IRS to pay my taxes). For more than a decade I am customer at Bank of America without problems but UFB Direct doesn not want my savings.
The worst thing: When I called the service center I was told that there is a way to open an account but of course I will not get same APY as others. Instead an APY of up to 5.25% I was offered an interest rate of 0.25%!
I didn’t expect that an aspiring company like UFB Direct discriminates against foreigners.

Date of experience: May 29, 2024

Similar to other reviews I have read, I attempted to open an account after seeing the 5.25% rate advertised, however I did not complete my application in one shot. When I came back I went into an endless loop of user ID, password verification code. I called customer service and Indian who barely spoke english said she reset account and I still could not log in. I feel like I dodged a bullet not putting money here. I will stick with capital one 360 at 4.25%. I may call customer service again during normal business hours to have them purge my data as I am not comfortable with this 'bank' having my SS#

Date of experience: May 05, 2024

UFB direct failed to execute a transfer request; customer service was of zero help in rectifying the problem.Unfortunately this is the second time this happened; they love to blame server issues on the problem.TRUE customer service would assist the client in doing whatever it takes to satisfy the client needs. UFB direct fails this test over and over again. I NEVER have this issue with Discover savings offering similar interest rates.

Date of experience: May 27, 2024

I was a little apprehensive at first when I first signed on and signed up for both the High Yield Savings and the High Yield Money Market Account. Both were approved but the Savings took a little longer so that’s when I began to wonder as I wanted to get both at the same time and did not want to wait. But the next day the Savings got approved so I was off and running. I did talk to Customer Service and they were excellent at answering all my questions so I’m am pretty confidant that I can start utilizing both accounts soon exactly the way I intended in the first place!!

Date of experience: March 09, 2024

Easy to work with, I can call them to help (IE raise money market rate if it raises). They help with I call (staff do not seem from America and can be hard to understand at times but still help). The interest is paid with no problems and the rates are competitive. Website works perfect.

Date of experience: April 13, 2024

The UFB Direct gives excellent interest rate on savings that maybe needed later on.
Instead of the traditional savings account this is a no-brainer and the tools online to assist you is top notch.

While CD / Stock / Funds have been my normal savings this is now a very good alternative right now.

We did purchase a car and could pay it off the savings account easily through the APP - amazing.

Thanks for providing excellent service !
Karl

Date of experience: August 28, 2023

Excellent banking services! Mobile app is simple to use and intuitive. Almost all banking/saving services you might need to complete can easily be done on the mobile app. All this along with one of the highest interest rates on your savings, make UFB a top contender for the best online banking/savings account!

Date of experience: August 28, 2023

UFB has been great. Customer support in my experience has been good and always prompt. Interest rates are exactly what I'm looking for in a savings account. My only complaint is how long transfers take. Other banks and transfers are not nearly as long.

Date of experience: September 01, 2023

UFB does give out 5.25% APY for a little bit, but they've changed their offerings quite frequently (at least seven times from 2022 to 2024). That way, they can lower the APY on older accounts (which they do silently and without discretion as stated per their disclosure) and continue to advertise high rates on their website which only applies to their newest accounts. This isn't listed anywhere on their website, and I only found out about their practices via Reddit posts and NerdWallet. To their credit, if you look at the details of your account, the APY is listed, so if it drops below what's advertised you can give the reps a call to match the highest rate. Recommend checking at least once a month, but far from the "just let it sit" types of accounts. Someone else called it a bait and switch scheme and I agree, but the rates are pretty appealing if you don't mind the extra work.

Date of experience: April 01, 2024

Account was easy to set up, and the website is very easy to use. Online requests for info are promptly addressed, and my phone requests also have been efficient. Most important is the highly competitive interest earnings on the account - hard to beat with any other bank out there.

Date of experience: September 11, 2023

UFB Direct not only has the best rates, they have the best customer service.Anytime the current interest rate is raised to attract new accounts,a simple request is all that is required to apply it to my existing account.Thank you UFB for caring about your customers !

Date of experience: August 30, 2023

Opened an account with $5,000 for the advertised interest rate. Account was put on restriction, they asked me to send selfie holding driver's license and utility bill, which I did. The next day I received an email saying they closed my account and the banking relation was ended and they reserve the right not to tell me why. They say the sent a check with my funds but have not seen yet.

Date of experience: March 19, 2024

system errors all the time. No contact. Restricted accounts. Terrible UI/UX very confusing. Bait and switch. Avoid at all costs. Lost 80k and never got back. Save your hassle and join Betterment or just purchase bonds directly through Charles Swab (currently at 5.44% return rate) to know your money is more secure and receiving a high return.

Date of experience: February 18, 2024

I have really enjoyed my experience with UFB Direct high-yield savings account. Their app is very user-friendly. I had one issue in my first money transfer after first setting up my account. Their customer service team was very helpful and patient with my concerns, and they corrected the problem right away. I have spread the word of UFB Direct to many of my friends already.

Date of experience: August 28, 2023

I have been banking with UFB direct for several months, now. I love earning top dollar on my savings. It was relatively easy to connect my other bank accounts. The deposits take a few days to be credited, but the withdrawals are very fast.

Date of experience: September 06, 2023