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UFB Direct Bank Review: Checking and Savings

Aug. 28, 2018
Banking, Checking Accounts, Savings Accounts
ufb-direct-bank-review-checking-savings
NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from partners. Here’s how we make money.
We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

NerdWallet rating: 3.5/5.0

Where UFB Direct shines:

  • Debit card rewards for American Airlines members.
  • Money market account paying 1.60% APY, among the highest rates in the industry.
  • Unlimited domestic ATM fee reimbursements.

Where UFB Direct falls short:

  • You need $100 to open checking and savings accounts, and $5,000 to open a money market account.
  • You need a hefty balance to earn more than minimum interest on savings.


Where UFB Direct shines:

  • Debit card rewards for American Airlines members
  • Money market account paying 1.60% APY, among the highest rates in the industry
  • Unlimited domestic ATM fee reimbursements

Where UFB Direct falls short:

  • You need $100 to open checking and savings accounts, and $5,000 to open a money market account
  • You need a hefty balance to earn more than minimum interest on savings


Where UFB Direct shines:

  • Debit card rewards for American Airlines members
  • Money market account paying 1.60% APY, among the highest rates in the industry
  • Unlimited domestic ATM fee reimbursements

Where UFB Direct falls short:

  • You need $100 to open checking and savings accounts, and $5,000 to open a money market account
  • You need a hefty balance to earn more than minimum interest on savings

The bottom line

UFB Direct

at UFB Direct,

Member, FDIC

UFB Direct bank offers definite advantages when it comes to interest rates. Its regular savings account pays up to 1.00% APY, and its money market account pays 1.60%. Even its checking account is rewarding, especially for American Airlines members. You’ll get one mile or point every time you use your debit card for point-of-sale transactions of $3 or more. However, you’ll need to deposit at least $5,000 to take advantage of UFB’s money market rates and at least $20,000 to earn the highest rate for regular savings accounts. Those with lower balances will find better deals at other banks or credit unions.

Best if: You have a good chunk of money to deposit — or are an American Airlines member.

» Want to make your money go further? Explore the best money market accounts of 2018


Ratings methodology

NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, customer experience and overdraft fees.

Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation.

The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

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