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UFB Direct Premium Money Market

in Money Market Accounts from Axos Bank · Member fdic

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UFB Direct Premium Money Market

Claimed

in Money Market Accounts from Axos Bank · Member FDIC

Net Recommendation Score +75

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +75, equating to 4.5 on a 5 point rating scale.

+75

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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3 users recommend
1 user is unsure
0 users don't recommend
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Highlights
Community Rating

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APY (Annual Percentage Yield) 0.1% - 0.2%
APY Minimum Balance $0
Minimum Opening Deposit Starting at $5,000

UFB Direct Premium Money Market Review

UFB Direct Premium Money Market is offered by Axos Bank, a bank founded in 2000 and based in San Diego, CA. UFB Direct Premium Money Market is available in 50 states (and Washington, DC).

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 0.2%, which is much higher than the national average for a money market account.
  • No APY minimum balance. There is no minimum amount you have to deposit to earn interest with this money market account. You will earn the 0.2% rate regardless of your balance.
  • Charges a monthly fee. This account charges a monthly service fee of up to $10, but the fee is waived if you keep a minimum balance of $5,000.
  • High minumum deposit. You must deposit a minimum of $5,000, which is high compared to most money market accounts.
Pros & Cons of UFB Direct Premium Money Market
Pros Cons
  • Available in all 50 states.
  • High-interest yield.
  • Does not offer mobile check deposits.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide a debit card or ATM access to your money.
  • Monthly service charge.
UFB Direct Premium Money Market FAQ

Are money market accounts from Axos Bank federally insured?

Yes, your Axos Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #35546). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What are the interest rates for UFB Direct Premium Money Market rates?

UFB Direct Premium Money Market offers an APY starting at 0.1% and ranging up to 0.2% (APY stands for annual percentage yield, rates may change).

UFB Direct Premium Money Market Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.1% - 0.2%

What are the fees for UFB Direct Premium Money Market?

This account charges a monthly maintenance fee of up to $10. You can avoid this fee by maintaining a balance of $5,000.

Axos Bank will charge you a $10 fee if you exceed your maximum number of monthly transactions.

Axos Bank will allow you to make up to 6 withdrawals or transactionss per month. That is also the maximum set by federal regulations.
UFB Direct Premium Money Market Fees
Fees Amount
Monthly Fee up to $10
Paper Statement Fee $5
Excess Transaction Fee $10

What is the minimum balance for UFB Direct Premium Money Market?

Minimum deposit of $5,000. You must make an initial deposit of at least $5,000 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $5,000.

What features and perks does UFB Direct Premium Money Market offer?

This account includes the following features:

  • Check Writing - UFB Direct Premium Money Market includes check writing privileges. This is convenient method to pay bills and transfer money from your account.
  • Mobile Banking Services - UFB Direct Premium Money Market allows you to manage your money through online banking and a dedicated mobile app.

How do people rate the customer service and user experience?

Overall, this business credit card is strongly recommended based on community reviews that rate customer service and user experience.

How to open an account with Axos Bank

  • Visit the Axos Bank website.
  • Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
  • Check the information is accurate and submit your application.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

APY Minimum Balance $0
Minimum Balance to Avoid Monthly Fee $5,000
Minimum Opening Deposit Starting at $5,000
NSF Fee $0
Monthly Fee $0 - $10
Paper Statement Fee $5
Bank Account Features
  • FDIC Member
  • Check Writing
  • Free Bill Pay
  • Mobile Banking
  • Interest Bearing Account
APY (Annual Percentage Yield) 0.1% - 0.2%
Dividend Compounding Frequency Daily

UFB Direct Premium Money Market Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +75, equating to 4.5 on a 5 point rating scale.

+75

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Axos Bank Money Market Accounts

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