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UFB Direct review (2024)

UFB Direct is an online bank that offers competitive interest rates for checking and savings accounts with minimal fees.

Yahoo Personal Finance· Getty Images
Ivana Pino
·Senior Writer
Updated 3 min read

Summary: Headquartered in San Diego, UFB Direct is an online division of Axos Bank. It offers checking, savings, and money market accounts, as well as home loans. As an online bank, UFB Direct does not have any physical branches.

Here’s a look at the products offered by UFB Direct:

  • Freedom Checking Account: UFB Direct’s Freedom Checking account has no monthly maintenance fees or minimum deposit requirements. It also offers 5.15% APY. Customers can boost their earnings by bundling this account with the UFB Secure Savings account, allowing them to earn a combined APY of up to 5.35%. The Freedom Checking account also comes with a complimentary debit card and access to over 90,000 ATMs.

  • Portfolio Savings: The UFB Portfolio Savings account is a high-yield savings account that offers up to 5.15% APY on all balances. There are no maintenance or service fees and no minimum balance required. It also comes with a debit card. This account ranks among our list of the 10 best high-yield savings accounts available today.

  • Portfolio Money Market Account: This account offers up to 5.15% APY with no monthly maintenance fees for balances of $5,000 or more. If your balance falls below this threshold, you’ll be charged a $10 monthly maintenance fee.

  • Mortgages: UFB Direct offers home loans through Axos Bank, which will waive its full lender fee for loan amounts of $250,000 and above, or reduce its lender fee by $200 for loan amounts of less than $250,000 when certain conditions are met.

See our picks for the 10 best online banks in 2024>>

Here’s a closer look at the fees you may be responsible for as a UFB Direct customer:

Here are some of the major pros and cons to consider before becoming a UFB Direct customer:

  • Pros:

    • Competitive rates on checking and savings accounts: UFB offers well above 5% APY for its checking and savings accounts.

    • 24/7 customer service: Customers can get assistance 24/7 via telephone and secure messaging.

  • Cons:

    • Monthly maintenance fee for money market account: For account holders with a balance of less than $5,000, a $10 monthly fee applies.

    • No physical branches: UFB is an online-only bank, meaning that customers don’t have the added convenience of having a physical branch location to visit.

The UFB Direct mobile app allows customers to bank from their mobile devices, with the ability to deposit checks, review account balance and history, transfer money between accounts, pay bills, contact a customer service representative, and more. The app is available for download on both the App Store and Google Play and has an average rating of 4.8 on both storefronts.

UFB Direct customer service representatives are available 24/7 via telephone and secure message.

UFB Direct is an online division of Axos Bank.

Yes. As part of Axos Bank, UFB Direct is an FDIC-insured financial institution. This means customer deposits are protected up to $250,000 per depositor, per ownership category. Note that deposits at UFB Direct will be combined with any deposits you have at Axos Bank or other divisions of Axos Bank for determining FDIC insurance coverage.

UFB Direct’s routing number is 122287251.

Yes. UFB Direct is a legitimate and reputable online bank. It provides several deposit account options with low fees and competitive interest rates, as well as low-cost home loans.