UFB Direct Review 2026: Checking and Savings
- +1
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
UFB Direct, a division of the online institution Axos Bank, offers checking and savings accounts with no opening minimums and no monthly fee. The savings account has a high interest rate. The bank also has a high-yield money market account with a strong rate, but it requires a minimum of $5,000 to avoid a monthly fee. The bank doesn’t offer certificates of deposit. The checking account has a steep overdraft fee, but there are free overdraft transfers.
This online bank may be worthwhile to consider for the high rates, but there are some high fees and potentially slower external transfers than other banks have.
No monthly fees on checking accounts and some savings accounts.
24/7 customer service by phone.
Highly rated mobile apps.
Large, free, nationwide ATM network.
Expensive overdraft fee.
Monthly fee on money market account, which can be waived.
Excess withdrawal fee.
Product reviews
Savings
Solid rate and no monthly fee. UFB's savings account has a strong rate of 3.26% APY for any balance. This online account also has no minimum deposit requirement and no monthly fees. This account is the one we considered in the bank’s overall rating. We consider it the bank's best offering to earn a strong rate and avoid fees.
UFB offers a higher APY of up to 3.46% on this savings account for customers who open a UFB checking account and can meet some requirements. The extra is added incrementally and to earn the first 0.05% APY boost, you have to set up direct deposits that total at least $5,000 monthly. After that, you can earn another 0.10% APY by keeping a minimum daily balance of $10,000 in your checking account. And you can earn a final 0.05% APY by making a minimum of 10 debit card transactions in each statement cycle (these debit card transactions have to be for more than $3).
Excessive withdrawal fee. Making more than six transactions per month to withdraw money from a savings account can result in a $10 fee per additional transaction.
» COMPARE: Best savings accounts
UFB Portfolio Savings
Money market
High rate. UFB's money market account is one of UFB Direct's savings accounts, though we did not consider this one as part of the bank’s overall rating. The account offers 3.26% APY for any balance.
Monthly fee unless you meet a steep minimum daily balance. Unlike UFB's savings account, this account has a $10 monthly fee, though you can waive it if your average daily balance is at least $5,000. If you plan to keep at least that much in your savings account and want the ability to write up to six checks a month, this account might be a good choice for you.
» Learn more about money market savings accounts
UFB Portfolio Money Market
Checking
No monthly fees and free ATM access. UFB’s checking account has no monthly fee or minimum requirements to open or maintain the account. Customers have free access to more than 90,000 ATMs nationwide plus up to $10 in U.S. ATM fee refunds each month. There’s an ATM locator for logged-in customers in the app or on desktop.
» COMPARE: Best online checking accounts
Strong checking APY and a rate boost on savings. As far as checking accounts go, this product has a notable rate of 2.00% APY for all balances. An equally rare perk is this account's ability to boost the rate on a savings account at UFB up to 3.46% APY. To earn the rate boost, one or more requirements must be met, such as direct deposits, a minimum balance, and a certain number of debit card purchases per month.
Outbound transfers aren’t fast. Neither UFB Direct nor its parent bank belong to the Zelle network for same-day transfers, and online transfers can take three to five business days to complete. See banks that use Zelle.
UFB Freedom Checking
Customer experience & overdraft fees
Customer experience
Highly rated apps and 24/7 support. UFB Direct has above-average mobile app ratings on Android and iOS devices as well as 24/7 customer support by phone. There is also chat support for logged-in customers. The website is relatively easy to navigate to find rates, some fees and support information, but overdraft-related and excess transaction fees, among other less common charges, are buried at the bottom of a long account disclosure.
Mostly digital banking. UFB Direct has one physical location at its headquarters in San Diego. Otherwise customers are expected to manage their accounts via desktop, mobile app or by phone.
Overdraft fees
Expensive fee with daily limits. UFB Direct charges $25 per transaction when there are insufficient funds, whether the bank covers or declines the transaction. If multiple transactions occur in a day, there’s a daily maximum of $75, or three fees. Some banks charge higher overdraft fees – such as $35 – while others don’t charge overdraft fees.
» Check out: Best banks for overdrafts
Free alternatives. The bank has free overdraft protection transfers, or transfers linked to a savings account, as well as no fee charged for transactions that make a balance go negative by less than $25.
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, GO2bank, Golden 1 Credit Union, Hope Credit Union, HSBC Bank, Huntington Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, OnePay, Openbank, PayPal, Peak Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Valley Bank, Varo, Venmo, Vio Bank, Wells Fargo, Western Alliance Bank, Zolve and Zynlo Bank.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.