UFB Direct Review: Checking and Savings

High rate and no monthly fee. UFB's savings account has a strong rate of 5.25% 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.

» COMPARE: Best savings rates

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 5.25% 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.

The UFB Freedom Checking account is only available to new or existing customers who have a UFB savings or money market account.

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 about 91,000 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

No interest. The checking account doesn’t earn any interest, but having the account can boost the rate on a savings account or money market account at UFB. 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.

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, fees and support information.

History of reader complaints about rate updates. From late October 2022 through 2023, NerdWallet readers have described confusion and a lack of information about how to benefit from ongoing interest rate increases. (These complaints and issues don’t factor into UFB Direct’s star ratings given the variability associated with customer experiences; see our methodology.)

» Experienced an issue? Here’s how to file a complaint

UFB Direct relaunched its savings and money market accounts nine times from August 2022 to November 2023, and customers of existing accounts must request to upgrade to the latest account to benefit from ongoing interest rate changes, such as by messaging or calling customer support. If you’re unsure what account you have, log into UFB’s site or app and compare it with the current account name. Here’s a rough timeline of accounts: