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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
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NerdWallet rating: 3.5/5.0

Where UFB Direct shines:

  • Debit card rewards for American Airlines members.
  • Money market account paying 2.45% 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 2.45% 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 2.45% 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, a division of online institution Axos Bank, offers definite advantages when it comes to interest rates. Its savings account pays up to 2.45% APY, and its money market account pays up to 2.45%. 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 at least $10,000 to take advantage of UFB’s highest savings rates and $25,000 for the highest money market rates.

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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