Updated September 3, 2023

UFB Direct Savings vs Money Market

Read more about UFB Direct
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UFB Direct offers high APYs on savings and money market accounts. Find out which one suits your financial needs best.

UFB Direct is an online bank that specializes in high-yield savings accounts. They currently have two accounts that seem very similar, so what's the difference?

Good thing we looked into it for you.

In this article, we'll compare the UFB Direct's Money Market and Savings accounts. Read on to find out which account better fits your needs.

UFB Direct Savings vs Money Market

UFB Direct offers 2 types of savings accounts. Check out what both accounts have to offer:

  • UFB Savings: Earn up to 5.25% APY on any account balance. It has no monthly service fee, no balance requirements, and no minimum deposit. It even comes with a free ATM card. However, you must fund the account within 30 days of opening it or else it will be closed. Find out more

  • UFB Money Market: Earn up to 5.25% APY on any account balance. The main difference is that it's $5,000 to open, and you need a $5,000 balance to waive the monthly fee.[1] However, this account offers check-writing privileges. Find out more.

Both accounts offer 24/7 online banking, SMS banking, and mobile check deposits.

Both accounts have their pros and cons. Learn about them below.

UFB Savings Account Pros and Cons


  • Up to 5.25% APY
  • Complimentary ATM card
  • No minimum deposit
  • No maintenance fees
  • All balances get the highest APY
  • Daily compounding interest


  • No check writing

Learn more about UFB Savings

UFB Money Market Account Pros and Cons


  • Up to 5.25% APY
  • Check-writing privileges
  • All balances get the highest APY
  • Daily compounding interest


  • $10 monthly fee if balance falls below $5,000
  • $5,000 minimum deposit

Learn more about UFB Money Market

Which is the best account for me?

Both the UFB Direct money market and savings accounts offer a high APY. The big difference is really the monthly maintenance fees and ATM card or check-writing privileges.

If you prefer to have a card for easy withdrawals, then it's best to use the UFB Savings Account.

The UFB Money Market is good for you if you want to write checks from the account. But it's best if you can maintain $5,000 in your account. Otherwise, you have to pay a $10 monthly fee, and that'll eat into any interest you earn.

Is UFB Direct Legit?

Yes, UFB Direct is a division of Axos Bank. All deposit accounts are offered and FDIC insured through Axos Bank (FDIC #35546, insured since 7/4/2000). Your combined deposits at Axos Bank and UFB Direct are protected up to the FDIC maximum of $250k for individual or $500k for joint.

UFB Direct also has an Online Safety Guarantee. They will cover 100% of any losses due to employee error, computer crime that they failed to prevent, unauthorized debit card transactions, and missed payments that are the fault of UFB Direct.

Compare Savings Account Offers

Bottom Line

UFB Direct is a great choice to consider if you're looking for a savings account. Both the UFB Money Market and Savings accounts offer a high APY to grow your money.

Since the accounts are similar, you really just need to zoom into the specifics of what you need in an account. Just keep in mind that the Money Market account has more requirements.


  1. ^ UFB Direct. Deposit Account Agreement & Schedule of Fees, Retrieved 5/24/2023
CIT Bank
Member FDIC

CIT Bank Platinum Savings - 5.05% APY

  • 5.05% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC
Axos Bank
Member FDIC

Rewards Checking - Up to 3.30% APY

  • Use promo code AXOS300 and apply by December 31st, to earn up to a $300 bonus!
  • Up to 3.30% APY
  • Zero monthly maintenance fees
  • Zero overdraft or NSF fees
  • Zero minimum monthly balance reqs
  • Unlimited domestic ATM fee reimbursements
  • Online debit card management
  • Simple, 3-step process for direct deposit
  • Only $50 to open an account
Western Alliance Bank

High Yield Savings Account - 5.26% APY

  • No fees
  • $1 minimum deposit
  • 24/7 online access
  • FDIC insured
Member FDIC

Chase Total Checking® - $200 Bonus

Expires 1/24/2024
  • New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account with qualifying activities
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America
Member FDIC

Bank of America Business Advantage Checking Account - $200 Bonus Offer

Expires 6/30/2024
Earn a cash bonus in three steps:
  1. Open a new eligible business checking account by June 30, 2024
  2. Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
  3. Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
*Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC

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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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