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UFB Secure Savings Account Review: Surprising Accessibility for a Savings Account

Review Updated
Kailey Hagen
Steven Porrello
By: Kailey Hagen and Steven Porrello

Our Banking Experts

Nathan Alderman
Check IconFact Checked Nathan Alderman
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield

Savings accounts help you grow your money, but the trade-off is often limited access to your funds. This isn't the case with the UFB Secure Savings Account, which offers a complimentary ATM card and a nationwide fee-free ATM network.

Read our full UFB Secure Savings Account review to learn more about these rare perks as well as how its APY stacks up against other rates we've seen.

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Ratings Methodology
Rates as of Feb 24, 2024
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
APY
5.25% Rate info Circle with letter I in it. To ensure you keep getting the highest rate at UFB, you'll need to keep an eye on their rates. Occasionally, the bank launches new accounts with higher rates. Existing accounts need to contact the bank to request being moved to one of these new accounts.
Min. To Earn APY
$0
  • Competitive APY
  • No account fees
  • Unlimited transfers & withdrawals
  • ATM access
  • 24/7 customer support
  • FDIC insured
  • Existing accounts not always automatically given the highest rates
  • No checking account offered at same bank
  • No branch access; online only

UFB Secure Savings Account is an overall great account with a high APY & no monthly maintenance fees. Plus, a complimentary ATM card and large fee-free ATM network makes your money surprisingly accessible for a savings account.

Note that UFB sometimes launches new account names with higher APYs. Existing account holders do not automatically get these higher rates and need to contact the bank and ask to be switch to the new account with the higher APY.

High-yield savings account comparison

We recommend comparing high-yield savings account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.

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Account APY Promotion Next Steps
up to 4.60%
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
N/A
4.35%
Rate info Circle with letter I in it. 4.35% annual percentage yield as of February 24, 2024
Min. to earn: $1
N/A
5.32%
Min. to earn: $1
N/A

UFB Secure Savings Account interest rate

Account APY Minimum Deposit
UFB Secure Savings Account 5.25% $0
Data source: UFB.

This UFB Secure Savings Account will pay you 5.25% APY on your saved cash, which puts it near the top of the rates available from other banks. Plus, there's no minimum deposit to open this account or earn that APY.

Full UFB Secure Savings Account review

Top perks

Above-average APY: UFB Secure Savings Account holders earn an APY of 5.25% -- that's much higher than what you can get through brick-and-mortar banks.

No maintenance fees or minimum deposits: UFB Secure Savings Account requires no minimum deposit either to open an account or to avoid a monthly maintenance or service fee. However, you must deposit some money within 30 days of opening your account or UFB Direct might close it.

Get a complimentary ATM card: The UFB Secure Savings Account includes a complimentary ATM card that you can use to access your savings account funds. While ATM cards are common among checking accounts, they're relatively rare among savings accounts, making this account a good fit for those who want quicker access to their savings.

Large ATM network: UFB Direct customers have access to 91,000 fee-free ATMs across the country. You can look up the one nearest you by logging in to UFB online banking and using the ATM Locator.

Bank from anywhere: The UFB Secure Savings Account can be accessed online, where you can view your balance and transaction history, transfer funds, and pay bills. UFB Direct's mobile app lets you do these tasks, plus remotely deposit checks.You can also manage your funds via SMS banking from anywhere if you're not connected to wifi.

FDIC insured: Finally, UFB's savings accounts are protected by the same FDIC insurance as traditional bank accounts. This covers you for as much as $250,000 per depositor, per institution, in the event of a bank failure.

Important information for new and existing UFB clients

UFB's savings accounts have recently featured some of the highest rates you can find on the market, which can make them a great choice for those looking to earn the most interest. That said, if you've never banked with UFB before, it's important to know that the bank occasionally creates new savings accounts that feature higher APYs. These APYs are for new customers. Existing accounts, however, do not automatically get these higher rates.

That said, the bank does allow existing account holders to switch to a new account with the higher rates. But this requires asking the bank to make the switch; UFB will not do it unless you ask.

For example, if you are a current UFB savings account holder and do not currently have an account named "UFB Secure Savings Account," then you may not have the highest rate from UFB.

If you are opening a UFB savings account, or have one already, we recommend that you:
  1. Periodically check the bank's savings offers to ensure that the rate it is offering isn't higher than the rate you are currently getting. Checking monthly should be often enough.
  2. If you see that the current UFB savings offer has a higher APY than what you're getting in your account, contact the bank and ask to be switched to the new savings account type.

For some people, this extra work is a worthwhile tradeoff. UFB's savings rates are often quite a bit higher than competitive offers. The extra annual interest could add up.

But if this sounds like too much maintenance, you may want to consider another savings account. While most competitors don't offer rates as high as UFB, many do automatically increase the rates for all account holders -- new and existing accounts alike.

How to access your money

Here are your options for depositing and withdrawing money from your UFB Secure Savings Account.

Deposit options

UFB gives you plenty of ways to deposit funds into your account, such as:

  • ACH transfer
  • Wire transfer
  • Mobile-deposited check
  • Cash deposits at select ATMs

UFB Direct doesn't charge for incoming wire transfers, but the bank you're transferring money from may charge for outgoing wire transfers. So choose a different funding method if you don't want to pay this fee.

While the UFB Secure Savings Account doesn't require any minimum opening deposit, you are required to put some money in the account within 30 days of opening it or UFB Direct can close your account.

Withdrawal options

You can withdraw money from your UFB Secure Savings Account using any of these methods:

  • ACH transfer
  • Wire transfer
  • Check withdrawal
  • ATM withdrawal
  • Point-of-sale withdrawal

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.

UFB Secure Savings Account is right for you if:

  • You want to earn one of the highest APYs on the market without paying a minimum fee.
  • You'd like to access your savings with an ATM card.
  • You can deposit money within 30 days of opening your account.

If UFB isn't right for you, check out our full list of the best high-yield savings accounts.

Keep reading about UFB

Our savings account methodology

At The Ascent, a Motley Fool Service, we rate savings accounts on a five-star scale (1 = poor, 5 = best). Our criteria? We dive deep into factors like APY, account minimums and fees, along with features that really make a difference -- think ATM access, linked checking accounts, or even branch access. We blend this with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best. Our aim is to maintain a balanced best-of list featuring top-scoring products from reputable brands offering competitive APYs and standout features.

FAQs

  • Yes, UFB Secure Savings Account was formerly known as UFB Best Savings.

  • Yes, UFB Secure Savings Account is one of the best of its class. The account has a high APY, no fees or minimum balance requirements, and you can withdraw money at one of UFB's 91,000 fee-free ATMs using your ATM card.

Our Banking Experts