UFB Direct Reviews 154

system errors all the time. No contact. Restricted accounts. Terrible UI/UX very confusing. Bait and switch. Avoid at all costs. Lost 80k and never got back. Save your hassle and join Betterment or just purchase bonds directly through Charles Swab (currently at 5.44% return rate) to know your money is more secure and receiving a high return.

The sign-up process is archaic and glitch-ridden. For days, I couldn't get past a terms agreement screen. Customer service was impossible to get a hold of. I finally gained access to deposit some money and found out they don't do direct transfers like everyone else. I either have to go to my bank to authorize a wire transfer or write myself a check to scan into the computer. I contacted them repeatedly to cancel the account, but so far there has been no reply. Avoid these people!

After opening my account and depositing $2000 they froze my account.

Now they want me to take a selfie holding my ID and submit it to them to have access to my funds.

I do not want to do this and they will not release my funds.

I am in the middle of filing a claim with the CFPB.

AVOID THIS BANK. SCAMMERS.

Stay away! As others have stated, their rate is a bait and switch. You are lucky if they give you the advertised rate to begin with and you definitely will not get a higher rate if/when they go up. They change their product names so existing customers stay at a lower rate. Very purposefully deceptive on their part since all their current customers will assume their rate has increased along with the rate on their website. I've used countless high interest savings and money market accounts from various institutions over the years and none act as shady as UFB Direct.

I haven’t even gotten a chance to deposit money. Their faulty website makes it impossible and seems a bit illegitimate- even if they are legitimate.

The accept terms button to start opening the bank account always appears then dips below the area I can click. Can’t scroll down. Tried in different browsers.

First of all, every single time I attempt to log on, a pop up states "Oops Something went wrong...". I opened 3 minor accounts for my children. It's been nearly a week and the funds are not reflected on their accounts, and the bank restricted one of the accounts. Unbeknownst to us, a Payee issued 2 checks to us, stopped payment on 1 of the checks, and failed to inform us of the stop payment. The checks were only about $9, so the $10 fee posted by UFB for the returned check, put the account negative. When I learned of the return, I called the Payee who informed me there was a system error, and they sent out double payments. I called UFB to inform them of what happened, and the representative said he would reverse the fee which would then make our account positive. Today I was told the account is still restricted AND they are not reflecting another deposit I made and received a confirmation email for. My (young) children have saved every penny from the Tooth Fairy and Gifts received, excited to open a bank account, only to have a bank not reflect the deposits and not allow us access to view the accounts online. This bank feels like such a scam.

On November 10, 2023 I called and spoke to a rep who assured me that I could make a mobile deposit that was issued by my insurance comp to me and my mortgage company (who signed it and returned it to me). I was also told that when the account is approved I could call back and get the shipping fee waived. On November 13, 2023 the mobile deposit I made was declined due to it being a 3 party check. I called and spoke with a rep named Rafael who said he could see my check and I need to endorse it with, "For Axos Mobile Deposit Only" and resubmit. I did that and received a confirmation e-mail that my deposit had been approved. I called and spoke to Anenya who said she would not waive the fee.This was November 14, at 07:28. At 11:09 I received another email stating the deposit had been declined. When I asked for a supervisor she said one was not available. On this same date I called again and spoke with Frank who said he will forward this to the back office for review and to send a message through the online banking website. On this date, November 16, 2023 the Result is that the case has not been started for review. I called two more times attempting to reach some one that could speak English for a resolution. Both times I was told they could not transfer me to anyone else. This is plainly and obviously a fraudulent bait and switch tactic to gain customers.

Depositor Beware! You will likely NOT get the rate you think you will.

The first month you get the promised rate, then it gets consistently lower. What reps advise you to do is check twice a month and call for the higher rate which takes them thirty seconds to do.

It's legal per their disclosure, but I consider it a predatory practice and will be taking my money elsewhere.

UFB Direct's disclosure states: Rate Information:
• The interest rate and corresponding APY for savings and money market accounts are variable and are set at our
discretion.
• Your interest rate and annual percentage yield may change.
• Fees may reduce earnings.
• At our discretion, we may change the interest rate on your account.
• We may change the interest rate on your account at any time.
• Interest rates and APYs for different balance ranges are listed on the Bank’s website.

In other words, bait and switch is to be expected.

For issues with rates unsolved check and contact bio to resolved quickly.

No hassle in switching account types. Customer service is always responsive and prompt.

Every time I have questions, UFB answers them quickly. Also, when they increased the rate on their high-yield savings acct, all I had to do is ask them to change my rate and it was done twice within a few minutes. I had money wired into the account with ease and no issues. A digital bank might seem different but they pay the highest rate and we have not had any issues thus far.

While your institution purports to enjoy high yield savings rates, it’s another thing to actually receive your published rates. I have been receiving a lower rate since April of this year, while receiving emails confirming a higher rate. I have reached out to your customer support only to be told they’re sorry and wish they could go back and adjust but they can’t. I see a number of reviews with this issue. As a result I plan to send a complaint to the Attorney General with documentation to request there view of this practice.

Account was easy to set up, and the website is very easy to use. Online requests for info are promptly addressed, and my phone requests also have been efficient. Most important is the highly competitive interest earnings on the account - hard to beat with any other bank out there.

I have been banking with UFB direct for several months, now. I love earning top dollar on my savings. It was relatively easy to connect my other bank accounts. The deposits take a few days to be credited, but the withdrawals are very fast.

I’ve called several times to speak to a manager about my interest rate. They email me the higher interest of 5.25% but yet I only got 4.50%. No manager will get on the phone nor call you back. I was told I have to call for the higher rate. Why do they email me it and not deliver. Very disappointed with how they treat their existing customers. Poor service.

UFB Direct is easy to work with and a great place to earn interest on my money and feel safe and secure.

very high interest rate 5.12% APR /5.25% APY

Logged in to my account 9/1/2023 to check my monthly interest depots and found out my rate was dropped from 5.02% in July down to 4.5%. Meanwhile new accounts are being offered 5.25%. This is poor treatment of existing customers is as bad as how Telecos treat their customers.

UFB has been great. Customer support in my experience has been good and always prompt. Interest rates are exactly what I'm looking for in a savings account. My only complaint is how long transfers take. Other banks and transfers are not nearly as long.

UFB Direct not only has the best rates, they have the best customer service.Anytime the current interest rate is raised to attract new accounts,a simple request is all that is required to apply it to my existing account.Thank you UFB for caring about your customers !