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UFB Portfolio Savings Account Review: Online Convenience With Pros and Cons to Consider

Review Updated
Brendan Byrnes
Author: Brendan Byrnes
Brendan Byrnes
Brendan Byrnes

Currently Managing Director of Motley Fool Money, Brendan has worked full-time for The Motley Fool since 2011. He has written hundreds of articles for The Motley Fool and provided analysis on TV outlets including CNBC and Fox. He holds a degree in finance from Virginia Tech.

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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
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Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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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 that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

With a competitive APY, no minimum deposit requirements, and access to a massive ATM network, the UFB Portfolio Savings Account keeps your money growing and within easy reach. If unlimited withdrawals and an online-only banking experience suit your style, this account could be a good option. Dive into our full review below to see if it checks all your boxes.

UFB Portfolio Savings Account
Open Account for UFB Portfolio Savings Account

On UFB's Secure Website.

Member FDIC.

Ratings Methodology
Rates as of Apr 11, 2025

UFB Portfolio Savings Account

Open Account for UFB Portfolio Savings Account

On UFB's Secure Website.

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
Open Account for UFB Portfolio Savings Account

On UFB's Secure Website.

APY
4.01% 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 number of external transfers (up to daily transaction limits)
  • ATM access
  • 24/7 customer support
  • FDIC insured
  • Existing accounts not always automatically given the highest rates
  • No branch access; online only

UFB Portfolio Savings Account is an overall great account with a high APY and 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 switch to the new account with the higher APY.

At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.

Our scores are weighted as:

  • APY: 50%
  • Brand and reputation: 20%
  • Fees and minimums: 15%
  • Other perks: 15%

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.

At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.

Our scores are weighted as:

  • APY: 50%
  • Brand and reputation: 20%
  • Fees and minimums: 15%
  • Other perks: 15%

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.

Compare savings rates

Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.

Account APY Promotion Next Steps
up to 3.80%²
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
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
4.10% APY for balances of $5,000 or more
Rate info Circle with letter I in it. 4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000+ for max APY
Earn a bonus of at least $225 after a one-time deposit of $25,000+. Circle with letter I in it. Transfer a one-time deposit of $25,000-$49,999.99 for a bonus of $225. Transfer a one-time deposit of $50,000+ for a bonus of $300. Account must be opened with code PS2025 while this promotion lasts, and funded within 30 days. Bonus will be fulfilled within 60 days from the funding date. There is no period of time where the customer will be required to maintain the funds. Account must be open when bonus is credited. One bonus per account and primary customer. Bonus will be credited into the Platinum Savings Account that fulfills the funding requirement. Funding can be deposited all at once or incrementally.
3.70%
Rate info Circle with letter I in it. 3.70% annual percentage yield as of April 11, 2025. Terms apply.
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

Disclaimers



SoFi disclosure:

¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.

² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.

Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

What I like about the UFB Portfolio Savings Account

No minimum deposit requirements

You can start saving with as little as $1 -- yes, just a single buck! This makes it perfect for anyone who's just starting their savings journey or doesn't have a big chunk of cash to park right away. Even if you've only got coffee money left over this month, you can still start earning interest.

Competitive APY

The UFB Portfolio Savings Account has a solid APY at 4.01%, comparable to some of the best high-yield savings accounts that we've found. Sure, it's not the absolute highest out there, but it still far exceeds the national average.

Large ATM network

As an online-only bank, UFB ensures you have easy access to your funds through a large ATM network. It provides a free ATM card that allows fee-free withdrawals at more than 90,000 ATMs across the U.S., a feature that sets it apart from many other online banks. Whether you're grabbing cash for a farmer's market trip or splitting the dinner bill, you've got easy access to your money whenever you need it.

Low fees

The UFB Portfolio Savings Account boasts no maintenance or service fees, so you can focus on growing your savings instead of worrying about sneaky charges. While there are a few specific fees, they're minimal and can typically be avoided with mindful account management.

Fee Cost
Paper statement fee $5.00 per statement
Domestic outgoing wire transfer fee $35.00
International outgoing wire transfer fee $45.00
Excess transaction or withdrawal fee $10.00 per withdrawal
Official checks $10.00
Stop payment fee (online request) $10.00
Stop payment fee (with assistance) $35.00
Data source: UFB.

The excess transaction or withdrawal fee, for example, is totally avoidable with careful planning.

Checking and savings bundle

As of January 2025, UFB is sweetening the deal for savvy savers and spenders. By opening a UFB Freedom Checking account alongside your UFB Portfolio Savings Account, you can increase your savings APY by 0.20% and enjoy a UFB Freedom Checking APY of 2.00% -- an impressive 25 times the national average for checking accounts.

To qualify for the savings APY boost:

  • Open a UFB Freedom Checking account and set up $5,000 in monthly direct deposits for a 0.05% APY increase on your savings.
  • Maintain a $10,000 minimum balance in your UFB Portfolio Savings Account to earn an additional 0.10% APY boost.
  • Complete 10 approved debit card transactions per statement cycle for another 0.05% APY boost.

This bundle is a no-brainer for anyone looking to maximize earnings across both their savings and checking accounts.

Learn more about this bundle on UFB's website.

We want to know what you think about UFB Portfolio Savings Account

Do you have first-hand knowledge of UFB Portfolio Savings Account? Share your thoughts with us and your fellow Motley Fool Money readers.

UFB Portfolio Savings Account
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Recent reviews
UFB Portfolio Savings Account
4.0
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4.0/5
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Featured Reviews
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4.0/5
Savannah, a Motley Fool employee
Feb. 6, 2025
UFB Direct is a great product with high interest rates for people who want to save for shorter or middle term expenses. Personally, my husband and I use it for our emergency fund. I have never had any issues or needed any customer service. It is as self explanatory as possible.
Consumer reviews posted on The Motley Fool Money are the independent opinions of the reviewers, and not The Motley Fool Money. We do not endorse any of the opinions expressed, and do not guarantee or verify the accuracy of the opinions shared by individual reviewers. Some reviews may be edited for length or clarity.

Downsides you should consider

Rates and accounts can change frequently

UFB occasionally introduces new savings accounts with higher APYs for new customers, but existing accounts don't automatically receive those rates. While you can transfer your funds to the new account to access the higher rate, UFB doesn't notify customers of these changes -- it's up to you to monitor the bank's offerings. This lack of communication is a miss, especially when many banks proactively inform customers about improved rates or new products.

Online-only bank

UFB is an online-only bank with no physical branches, apart from its San Diego, California headquarters, which local customers can visit. This may not be a problem for some people, especially with the vast network of ATMs that make proximity to your funds possible.

However, if you value in-person customer service, this isn't the right account for you. You're better off with a bigger bank with an established physical location network, like the Capital One 360 Performance Savings account.

Keep reading: Are Online Banks Safe?

Customer service

UFB Direct offers 24/7 customer service, available by phone at 1-877-472-9200 or by online chat if you're logged into your account. This is a nice perk, particularly considering it's an online-only institution.

The UFB Direct app is highly rated on both the App Store and the Google Play Store.

  • Google Play rating: 4.8 / 5.0 stars
  • App Store rating: 4.8 / 5.0 stars

The most common complaint regarding UFB's savings accounts are the occasional new accounts with higher APYs that crop up. Users complain about having to reach out to customer service to change their savings account so they can access the highest APY possible.

Accessing your money

When it comes to choosing a high-yield savings account, one of the biggest questions is: how easy is it to get your hands on your money? After all, that's what really matters, right?

With the UFB Portfolio Savings Account, accessing your funds is a breeze. You can move money in and out using ACH transfers, wire transfers, checks (both deposits and withdrawals), and ATM transactions. Remember, you'll get an ATM card when you sign up, making it convenient to withdraw cash if there's an ATM nearby. Simple, straightforward, and hassle-free -- just the way it should be.

Security and reliability

As a division of Axos Bank, UFB Direct has been operating since 2000 and is FDIC insured, protecting deposits up to $250,000. On top of that, the bank employs robust security measures, including fraud protection, SSL encryption, and automatic logouts. You can rest assured that UFB Direct is a safe place to park your cash.

Who will benefit from the UFB Portfolio Savings Account?

The UFB Portfolio Savings Account is ideal for:

  • Individuals seeking a high-interest savings account without needing a large initial deposit.
  • Those comfortable with an online-only experience but who value accessible ATM options.
  • People who prioritize unlimited withdrawals.
  • Existing UFB Direct or Axos Bank customers looking to maximize their savings.

With a little vigilance to track rates and a comfort level with online banking, the UFB Portfolio Savings Account could be a solid choice for growing your savings.

Open a UFB Portfolio Savings Account today

FAQs

  • The UFB Portfolio Savings Account offers 4.01% APY. While not the highest on the market, it's quite competitive and much higher than the national average.

  • Yes, the UFB Portfolio Savings Account is FDIC insured through Axos Bank up to the standard coverage limit of $250,000 per depositor, providing peace of mind for your savings.