Union Federal Bank rates

Interest Rate Annual Percentage Yield
High Yield
Money Market
Savings 3.00% 3.05%

BUSHMAN4 said:Once the Fed raises I hope ED keeps up the pace but I don't think they will. I think they're hoping to keep some of their customers and that will be good enough. Then again I could be wrong.
So question is if we want to open a pool of several I/E/U/X-Direct accounts, use one every moment of time (if any) and keep $1 on the others. Also, we will force them to compete...

They did process my transfer from my external account the next day. Since it was a transfer in, it was not a big deal. But if it was a transfer out, this could have been a big problem. I wonder if they would have caught the problem by themselves, or whether they needed me to call to let them know. I, too, would like to know what problems other people have been having and how they got resolved.

I scheduled the transfer several days in advance. So, this was not the issue.

No, it took an extra day. In your scenario it would have been transferred and listed as 3/11. The tipoff of a problem was that the transaction was still on the pending transfer list the day after the transfer should have happened. This is not normal.

jdopple said:Interesting, just xferred a rather large amount and it shows as available immediately. 2nd transaction in this account. It was an ACH pull, not push.

Watch it, they changed the avalability of those funds , after the fact.

Boiler said:ccrzhh said:modal said:Anyone using these guys now? ==> UFBdirect

They got better features than EM and ING.
They are 4 points higher than EM!
Seems to be great.

High Yield Money Market (MM) Savings
Earn high interest rate on balances
No minimum balance
No monthly maintenance fee
FDIC insured up to $100,000 per customer
Online statement viewing with all transactions posted in real time
All accounts come with an ATM card
Unlimited access to your account and reimbursement of ATM Fees per ATM Reimbursement Policy
Transfers to your other accounts such as checking can be made with the click of a button

What is there not to like? Tempted to move my ED money there. $4.5/month ATM reimbursement, rate slightly higher than ED. No minimum req to earn interest, and no minimum fees.
I would like to know if they have ACH transfer to/from external accounts though.
They have:
Transfers to your other accounts such as checking can be made with the click of a button

But it sounds more like to other accounts in UFB?

No ach transfers can be setup with UFB.
No checkwriting...you have to call and have them mail you a check or use ATM access.
You can ach in/out of them if you use an outside bank to initiate those transfers.
They have a special Premier mma that offers 3.10%apy now but requires 15k minimum balance.

bluechalk said:Emigrant Direct advertises to have "America's Higher Rate". As noted by ccrzhh, this is no longer the case. E-D appears to be guilty of false advertising. Has anybody questioned them about this?

lol

For me after verifying 2 small deposits, it took 4 days to complete the initial deposit and another 7 days for the letter with account number to come in the mail.

Just to let folks know: I have been having an appalling time trying to deal with the Emigrant Direct people. They completed the first transfer to fund my account successfully, and then screwed the second one up completely. After wasting time on countless phone calls to their "Customer Service" staff (who told me my external bank account had been closed, which it had not, of course), they finally informed me of the routing number they were using for the second transfer - it was my Social Security Number!

I wasted all of my time and energy in talking to their largely useless staff (not to mention calls to my external bank, trying to find out what was going on with my "closed" account), simply because Emigrant Direct would not listen to me when I told them the problem was within their own system. I was so disgusted with their slipshod practices that I requested that my account be closed, and I am still waiting for them to return my funds to my external bank.

My advice to anyone reading this: don't be misled by the "siren song" of 3% interest; avoid this "bank" like the plague. They are horrible people to deal with, and they simply don't care about their customers.