1.25% at UFBDirect


UFB Direct has made a big leap in interest rates on your cash.  To get the 1.25%, you have to have at least $25,000 in the account.  If you don’t have $25K, you will only earn .2%.  In that case, you’d be better off leaving it at Capital One 360 Savings where you get .75% on every penny.

If you have $25K, click here for more info on the UFB Direct Savings account.

Years ago, UFB Direct had some of the highest interest rates like they do now.  But then other whipper-snappers beat them out and I moved my dough elsewhere.  This is one reason I leave a buck in old bank accounts and sign in online now and then to keep my account from going dormant.  Of course, my Quicken signs in for me every time I tell it to update all of my accounts.

Since my account is still open, I’ll just shoot money from one account where I currently get .80% to UFB’s 1.25%.  That’s more than half again as much interest – an increase of 56%!!

The folks at UFB told me this account can be in the name of a Trust.  Many of the online accounts with high interest rates do not allow that.  Normally, you are limited as to how much you can send in an ACH transfer.  But if you are opening new account, you can elect to fund your account with up to $250K. Otherwise, there is a 7 business day hold if sending a check or mobile deposit to fund your new account.


  1. Can you please comment on BB&T CollegeWealth 529 Savings account that offers 2.25% APY for deposits over $25k. Are there any better offers on the market for Savings around $25-$30k?

  2. If you are locking away money in a 529, you will not be able to access it at any time like you can with a Savings account.


Please enter your comment!
Please enter your name here

Spam control * Time limit is exhausted. Please reload CAPTCHA.