Is UFB an online bank?
As a digital bank, we've made it easy for customers to submit all account-related requests from within online banking. Just log in and complete your request. How do I contact the Bank? At UFB Direct, we love hearing from our customers!
UFB Direct, a division of Axos Bank, is one of the most established and reputable online banks in the nation. Our branchless banking model and desire to offer our customers the most unique personal banking products and services in the industry distinguish us among financial institutions.
UFB Direct products
UFB Direct's high-yield savings account offers one of the best APYs on the market at 5.25%. Plus, there's no minimum deposit requirement or balance restrictions to earn that APY. It's one of the best places to park your cash right now to earn a sizable chunk of interest.
UFB Direct is an online bank offering high-interest savings and money market accounts for individuals looking for a place to park their cash. The bank also offers an add-on checking option.
No Physical Branches: Axos Bank operates entirely online. Customers receive ATM fee reimbursem*nt, but Axos is the wrong choice if you're looking for in-person help from a bank teller.
Yes. UFB Direct is the online-only division of Axos Bank, which was established in 2000 and has around $20 billion in assets. As a member of the Federal Deposit Insurance Corp. (FDIC) member, account holders are insured up to $250,000 per holder, per account ownership type.
How do I deposit cash? You can make cash deposits at participating ATMs nationwide. Log in to online banking and use our ATM Locator to find an ATM that accepts cash deposits. Funds availability may vary.
- Our picks for the best online banks are SoFi Bank, Discover Bank, Ally Bank, Varo Bank, LendingClub, Upgrade, Alliant Credit Union, FNBO Direct, Zynlo Bank and Quorum Federal Credit Union.
- You may get a higher annual percentage yield (APY) compared to traditional banks when you choose an online-only bank.
| Institution name | Top APY |
|---|---|
| SoFi Checking & Savings | 4.60% |
| American Express National Bank | 4.35% |
| Ally Bank | 4.35% |
| Laurel Road | 5.00% |
Overall institution rating
The bottom line: UFB Direct, a division of online institution Axos Bank, offers a savings account with a high rate, no opening minimums and no monthly fee. The bank also has a high-yield money market account that has a strong rate, but it requires a minimum of $5,000 to avoid a monthly fee.
How does UFB work?
UFB Direct is an online bank that's a division of the better-known Axos Bank with headquarters in San Diego. They offer just a handful of banking products—high-yield savings accounts, money market accounts (or MMAs), and mortgages.
Overview. UFB Direct is a division of Axos Bank, which is an online bank that reports holding over $18.4 billion in assets. UFB Direct offers high-yield deposit accounts as well as home lending products.
To maximize your earnings and rewards, we encourage you to apply for a UFB Freedom Checking Account as well.
Axos Bank (formerly BofI Federal Bank) is a financial services company that manages nearly $20.3 billion in assets. Founded in 2000, we are one of the first banks to offer banking services exclusively online.
| Pros: | Cons: |
|---|---|
| Decent APY (Annual Percentage Yield) on savings and money market account Checking account earns interest and offers a cash bonus of up to $300 Savings account comes with a debit card | Low CD rates compared to other online banks $250 minimum opening deposit for savings account |
Ally Bank. Ally is an online-only bank that offers a wide range of financial products and services including deposit accounts, credit cards, loans, robo-advisors, and more.
UFB Direct is an online-only bank offering deposit accounts and mortgages. It's a division of Axos Bank, which is a digital bank founded in 2000.
In this video, we will quickly walk through how to find and download your mobile banking app so you can access your money on the go. To begin, open the AppStore if you're using an Apple device or Google play if you're using an Android device. Next, click the search icon and type UFB Direct into the navigation bar.
With all the options offered, Axos can be a good choice for those who have a range of banking needs. However, the yield on its savings is not as competitive as others in the industry and to earn its checking account rewards, you'll need to meet various requirements.
How much does UFB charge for transfers?
UFB Direct doesn't charge withdrawal fees, except for outgoing wire transfers. It charges $35 for domestic outgoing wire transfers and $45 for international outgoing wire transfers.
Our quick take: The UFB Secure Savings account is one of the highest-earning high-yield savings accounts thanks to its 5.25% APY. The account is ideal for those who wish to grow their savings while still having immediate access to cash. Pros: Earn up to 5.25% APY.
| Best Free Checking Account | Best For | Minimum Deposit |
|---|---|---|
| Discover Learn More | Best for Large ATM Network | $0 |
| Varo Learn More | Best for Mobile App Experience | $0 |
| Sofi Learn More | Best for Cash-Back Incentives | $0 |
| Ally Learn More | Best for Customer Experience | $0 |
- Deposit Cash in a Store.
- Find a Local ATM.
- Buy a Money Order.
- Bank Locally, Transfer Online.
- Get a Prepaid Debit Card.
| Bank | Best for | Time to apply |
|---|---|---|
| Capital One | Overall | About 5 minutes |
| Wells Fargo | College students | About 5 minutes |
| Axos | Rewards checking | About 5 minutes |
| Wise | Multi-currency usage | About 5 minutes |
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