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Summary: Headquartered in San Diego, UFB Direct is an online division of Axos Bank. It offers checking, savings, and money market accounts, as well as home loans. UFB does not have any physical branches.
UFB Direct product overview
Freedom Checking Account
UFB Direct’s Freedom Checking account has no monthly maintenance fees or minimum deposit requirements. It also offers 2% APY. Customers can boost their earnings by bundling this account with the UFB Portfolio Savings account, allowing them to earn a combined APY of up to 3.46%. The Freedom Checking account also comes with a complimentary debit card and access to over 90,000 ATMs.
UFB Portfolio Savings
The UFB Portfolio Savings account is a high-yield savings account that offers up to 3.26% APY on all balances. There are no maintenance or service fees, and there’s no minimum balance required. This account ranks among our list of the 10 best high-yield savings accounts available today.
UFB Portfolio Money Market Account
This account offers up to 3.26% APY with no monthly maintenance fees for balances of $5,000 or more. However, if your balance falls below this threshold, you’ll be charged a $10 monthly maintenance fee. This account ranks among our list of the 10 best money market accounts available today.
Mortgages
UFB Direct offers home loans through Axos Bank, which will waive its full lender fee for loan amounts of $250,000 and above, or reduce its lender fee by $200 for loan amounts of less than $250,000 when certain conditions are met.
UFB Direct fees
Here’s a closer look at the fees you may be responsible for as a UFB Direct customer:
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UFB Direct pros and cons
Here are some of the major pros and cons to consider before becoming a UFB Direct customer:
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Pros:
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Competitive rates on checking and savings accounts: UFB offers well above 4% APY for its combination checking and savings account.
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24/7 customer service: Customers can get assistance 24/7 via telephone and secure messaging.
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Cons:
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Monthly maintenance fee for money market account: For account holders with a balance of less than $5,000, a $10 monthly fee applies.
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No physical branches: UFB is an online-only bank, meaning that customers don’t have the added convenience of having a physical branch location to visit.
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Customer service and mobile banking experience
The UFB Direct mobile app allows customers to bank from their mobile devices, with the ability to deposit checks, review account balance and history, transfer money between accounts, pay bills, contact a customer service representative, and more. The app is available for download on both the App Store and Google Play and has a rating of 4.8 and 4.3 stars, respectively.
UFB Direct customer service representatives are available 24/7 via telephone and secure message.
Frequently asked questions
Which bank owns UFB Direct?
UFB Direct is an online division of Axos Bank.
Is UFB Direct covered by the FDIC?
Yes. As part of Axos Bank, UFB Direct is an FDIC-insured financial institution. This means customer deposits are protected up to $250,000 per depositor, per ownership category. Note that deposits at UFB Direct will be combined with any deposits you have at Axos Bank or other divisions of Axos Bank for determining FDIC insurance coverage.
What is UFB Direct’s routing number?
UFB Direct’s routing number is 122287251.
Is UFB Direct bank legit?
Yes. UFB Direct is a legitimate and reputable online bank. It provides several deposit account options with low fees and competitive interest rates, as well as low-cost home loans.
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