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Has anyone looked at this deal yet? It looks like a good deal. 3.20% on money market savings. I was told by CSR that $4.50 ATM rebates monthly. To have easy access to the money market savings, you can also open their checking account with no miniumum and can transfer funds between the two accounts.
Cherry
Edit by Moderator: Clarified Title 
CURRENT RATE: 2.50% APY on Absolute Savings. As of 8/29/08.
High Yield Money Market Savings Account Features
Earn an annual percentage yield of 5.20% with a savings account that has no minimum balance or maintenance fee. All accounts come with an ATM card, and ATM fees are reimbursed according to our worldwide ATM Reimbursement Policy. Transfers to other accounts (you have at UFB Direct) are easy, and can be made with a click of a button. These accounts are FDIC insured for up to $100,000 per customer.
other features worth mentioning:
Hard credit inquiry.
No minimum deposit required to open account.
Deposits have 5 business days hold for out of state checks and no hold for ACH transfers.
Very fast opening of account.
Free incoming wire transfers.
NOT Free: 25 dollars stop payments. (online)
NOT FREE: 10 dollars cashier's check. (online)
Free Bank addressed, pre-stamped envelopes for mail-in deposits. (online)
Free incoming and outgoing ACH transfers from external bank.
Interest credited monthly.
Online and/or paper statements monthly.
Free ATM Reimbursement Program
Not only does the Bank never charge you to withdraw cash, the Bank will reimburse you for fees other banks might charge you for using their ATM networks. Reimbursements are per statement period and depend on your specific product as follows:
High Yield MM Savings $4.50 (including abroad/overseas)
Routing Number: 083914265
Warning!!! Your UFB Direct account may be placed at Huntington National Bank or some other participating bank. Currently, participating banks include Countrywide Bank. Your account will be combined with your other accounts at the participating bank to determine your FDIC insurance limits. You may notify UFB Direct customer service if there is any bank where you do not want your account to be placed.
Nope, I only care if its above 3.25% with no fee's and a minimums!
This one has no fees and no minimums and is very close to 3.25%. ATM fees are rebated monthly. It has been going up about every week or every other week lately.
it doesn't have online ACH ability.
To get your money out, you must initiate your transfer from other accounts,such as USAA,BOA.
It will only be attractive if it is at least:
1. Household name brand
2. The Highest Yield
3. Check writing
Well, right now it's higher than capital one and as for the checkwriting ability, I was told that you can also open a their no miniumum, no fee checking account and transfer money from the savings to their free checking account and therefore have access to your money. A CSR told me that is what most people are doing. But your points are well taken. I haven't applied yet, but it did seem attractive. I am still thinking it over.
I am curious, but Emigrant Direct wasn't a household name either, but people still put their money into that account. I haven't done it yet though because the jury is still out on that one, too.
Emigrant fits requirement 2. Capital one fits requirement 1.
Checking is not about having a linked account. I can link Emigrant with any other checking account too. The key is to be able to write a check, send it in the mail, wait for the party to deposit the check and collect interest during the entire period.
Cherry30303 said:Well, right now it's higher than capital one and as for the checkwriting ability, I was told that you can also open a their no miniumum, no fee checking account and transfer money from the savings to their free checking account and therefore have access to your money. A CSR told me that is what most people are doing. But your points are well taken. I haven't applied yet, but it did seem attractive. I am still thinking it over.
I am curious, but Emigrant Direct wasn't a household name either, but people still put their money into that account. I haven't done it yet though because the jury is still out on that one, too.
In fact, Capital One's MMA fits requirement 3 as well.
You can have "checkwriting" (aka as actually writing a paper check, not just linking!) ability with a ufbdirect.com money market account by doing the following.
1. Open a Ufbdirect.com money market account.
2. OPen a Ufbdirect.com FREE checking account with comes with a free set of actual paper checks.
3. link the two accounts so that you can transfer money out of the money market account into the FREE checking account therefore having INSTANT available of your money market cash, THEN you can write a check to yourself or others.
4. It's an extra step, yes, but just another alternative.
Capital One COSTCO MMA now has a 3.20% APY, checkwriting capability (3 per month) with some free checks, and ATM access. But no ATM rebates.
I don't think you have read my post at all. The FREE checking also interest FREE. Now read my post again.
Cherry30303 said:You can have "checkwriting" (aka as actually writing a paper check, not just linking!) ability with a ufbdirect.com money market account by doing the following.
1. Open a Ufbdirect.com money market account.
2. OPen a Ufbdirect.com FREE checking account with comes with a free set of actual paper checks.
3. link the two accounts so that you can transfer money out of the money market account into the FREE checking account therefore having INSTANT available of your money market cash, THEN you can write a check to yourself or others.
4. It's an extra step, yes, but just another alternative.
you get miles for opening their mileage checking and savings products thats an added bonus..
IF this is a true Money Market account, you should be able to write 3 checks a month against it. CSR might not know about it though.
Ahh, you can write checks :
Exceeding limit of 3 checks per statement cycle (Money Market Only)
($10 fee is assessed on each check over the limit of 3 per statement cycle)
idealguru said:you get miles for opening their mileage checking and savings products thats an added bonus..Not this MM Account
So does anyone have this UFB high yield savings account? The main advantage is the reimbursed ATM card and the disadvantage is that this account does not offer ACH push/pull (any ACH transfers must be initiated from an external account).
I am wondering if CapitalOne HYS can link to this account?
scanchain said:So does anyone have this UFB high yield savings account? The main advantage is the reimbursed ATM card and the disadvantage is that this account does not offer ACH push/pull (any ACH transfers must be initiated from an external account).
According to their Bank Fees page,
ACH Items
Incoming Free
Outgoing Free
Of course, it may be just theoretical...
In any case, you can do in through E*Trade, Netbank and the like.
Checks also seem to be available - 3 checks per statement cycle (Money Market Only)
Really, I don't need ATM reimbursement but let it be
Adding 3.30%, it seems like the best current no minimum offer
So, I applied online and will see later if it's real good. They warned they would do a credit check but then they asked random no-sense questions and notified the application would be reviewed in 1-2 b/days.
The credit check ala CashEdge type verification questions were completely unrelated to my credit history, thats for sure. Car loans which I never had, etc etc. See how it goes, no email or anything to say that I had applied.
ccrzhh said:ACH Items
Incoming Free
Outgoing Free
Of course, it may be just theoretical...
In any case, you can do in through E*Trade, Netbank and the like.
Checks also seem to be available - 3 checks per statement cycle (Money Market Only)
Really, I don't need ATM reimbursement but let it be
Adding 3.30%, it seems like the best current no minimum offer
So, I applied online and will see later if it's real good. They warned they would do a credit check but then they asked random no-sense questions and notified the application would be reviewed in 1-2 b/days.
I applied last night too. I must say I was a little disappointed that I did not even get an automated email to acknowledge my application.
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