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  MUFG Union Bank Savings Account

MUFG Union Bank Savings Account

in Savings Accounts from MUFG Union Bank · fdic

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MUFG Union Bank Savings Account

Unaffiliated

in Savings Accounts from MUFG Union Bank · Member FDIC

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Highlights
Monthly Fee $0
APY (Annual Percentage Yield) 0.01%
APY Minimum Balance $0.01

MUFG Union Bank Savings Account Review

MUFG Union Bank Savings Account is offered by MUFG Union Bank, a bank founded in 1864 and based in Spring Valley, CA. MUFG Union Bank Savings Account is available in 6 states across the USA.

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.01%.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • Small minimum initial deposit. You only need $1 to open an account.
  • No ATM fees. MUFG Union Bank Savings Account does not charge fees on ATM transactions.
  • ATM fee reimbursements. This account will reimburse you for ATM fees (see terms and conditions for details).
MUFG Union Bank Savings Account Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Only available in 6 states.
  • Higher than average wire transfer fees.
MUFG Union Bank Savings Account FAQ

Are savings accounts from MUFG Union Bank federally insured?

Yes, your MUFG Union Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #22826). 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.

Does MUFG Union Bank offer a signup bonus?

MUFG Union Bank Savings Account doesn't offer a signup bonus.

What is the minimum initial deposit for MUFG Union Bank Savings Account?

The minimum deposit to open a MUFG Union Bank Savings Account is $1.
MUFG Union Bank Savings Account Minimums
Description
APY Minimum Balance $0.01
Minimum Opening Deposit Starting at $1
Minimum Required Balance $0

What APY does MUFG Union Bank offer?

MUFG Union Bank Savings Account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does MUFG Union Bank Savings Account charge?

MUFG Union Bank Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

  • Outgoing domestic bank transfers come with a $20 fee.
  • Outgoing international bank transfers come with a $45 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.

What features and perks does MUFG Union Bank Savings Account offer?

This savings account includes the following features:

  • ATM reimbursement - This account provides ATM access and will reimburse you for the ATM fees charged by other networks.
  • Mobile Banking Services - MUFG Union Bank Savings Account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to MUFG Union Bank Savings Account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

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Other Services by MUFG Union Bank

Availability

  Available in 6 states
  • California
  • Georgia
  • Illinois
  • New York
  • Texas
  • Washington

Feature Breakdown

APY Minimum Balance $0.01
Minimum Opening Deposit Starting at $1
Minimum Required Balance $0
International ATM Surcharge $0
Monthly Fee $0
Paper Statement Fee $0
Returned Deposit Fee (Domestic) $6
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Outgoing) $45
Bauer Financial A+/A Rating
Account Features
  • No ATM Fees
  • Member FDIC
  • Branch Access
  • Debit Card
  • Fraud Protection
  • Debit Card Lock/Unlock
  • Mobile Banking
  • Nationwide ATM Network
  • ATM Reimbursement
  • Interest Bearing Account
  • No Monthly Maintenance Fee
  • Mobile Check Deposit
APY (Annual Percentage Yield) 0.01%

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