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UFB Direct Premium Money Market Account review

Maintain easy access to your money, but at a low interest rate.’s rating: 2.9 / 5.0


The online UFB Direct positions its money market account as a premium product with check writing privileges and a debit card. But you’ll earn a low APY and you’ll need have at least $5,000 to avoid the monthly fee.

Up to 0.20%


$10 per month



Minimum deposit to open


Annual percentage yield (APY)0.20% on balances of $25,000+
0.10% on balances of $0 to $24,999.99
Fee$10 per month
To waive the feeMaintain a minimum $5,000 average daily collected balance
Minimum deposit to open$5,000
Minimum balance to earn interest$0
Interest compoundingDaily
Monthly transaction limit6
Fee per transaction over the limit$10
More infoGo to site

Review by

Kelly Waggoner is the US editor-in-chief at Finder. She's worked with publishers, magazines and nonprofits throughout New York City, including ghostwriting a how-to on copyediting for the Dummies series. Between projects, she toys with words, flips through style guides and fantasizes about the serial comma's world domination.

Expert review

UFB Direct’s Money Market account is best for those looking to save at least $5,000. The account has daily compounding interest, so you’ll earn a better return on your savings. But to earn the highest rate at 0.2% APY, you’ll need to keep more than $25,000 in your account.

You’ll find higher interest rates with lower fees and minimums at other banks. As always, compare your options when choosing a money market account.

How do I open an UFB Direct Premium Money Market Account account?

Open an account at UFB Direct entirely online:

  1. Click Apply now.
  2. From UFB Direct’s website, click Open Account at the top of the screen.
  3. Select whether you’re a new applicant, returning applicant or existing customer.
  4. Create an online account and click Start Application.
  5. Select the account you’d like to open.
  6. Proceed through the rest of the steps, entering your personal information and financial details.


To open a UFB Direct Money Market Account, you must:

  • Be at least 18 years old.
  • Be a citizen or legal permanent resident of the United States.
  • Have a US mailing address.
  • Have a Social Security number.

Required information

When you apply for an account, you’ll provide:

  • Your name and contact information.
  • Your date of birth and Social Security number.
  • Your email address and phone number.
  • A copy of your driver’s license or passport.

Compare UFB Direct Premium Money Market Account to similar accounts

We gathered a quick comparison of similar accounts to help you decide if UFB Direct Premium Money Market Account is right for you. For more options, select “Compare accounts” to compare even more money market savings accounts.

UFB Direct Premium Money Market Account


Finder Rating: 2.9 / 5

Go to site


$10 per month
(can be waived)


0.20% on $25,000+
0.10% on $0 to $24,999.99

Minimum deposit to open


Minimum balance to earn interest


What are the benefits of a money market account with UFB Direct?

If you can afford its minimum balance requirements and will make use of the bank’s other premium services, it could be a good choice. The UFB Direct Money Market Account comes with perks that include:

  • Powerful financial tools. Manage your money with the free FinanceWorks tool.
  • Daily compounded interest. Interest is compounded daily in the account, so you ‘ll earn interest on the amount you deposit every day.
  • Easy access to your money. Use a linked debit card or write checks against the account.
  • Upfront fee structure. You’ll know exactly what you’ll pay for the UFB Direct Money Market Account to avoid any surprises.

As with most savings accounts, your deposits are insured by the FDIC for up to $250,000.

What should I look out for?

Keep these potential drawbacks in mind before opening a UFB Direct Money Market Account:

  • Low APY. You’ll need to keep over $25,000 to earn 0.2% APY — a rate much lower than the competition.
  • $5,000 minimum opening deposit. You can’t open the account unless you can meet the hefty minimum. Many online banks have much lower minimum deposits, or none at all.
  • $10 monthly fee. Avoid the fee by maintaining a $5,000 average daily balance. Contrast this with other online banks that offer similar rates with no fees at all.
  • No cash deposits. An online bank, UFB Direct doesn’t offer a way to deposit cash to your account.
  • Transaction limits. You’ll pay a $10 fee for each transaction beyond the 6 in a statement period.

If you’re looking for an account with minimal to no fees, you’ll want to keep looking. As always, compare your options when looking for a money market account.

How do I deposit or withdraw money?

Though it’s an online bank, UFB Direct offers multiple ways to deposit and withdraw money from your money market account.


  • ACH transfer
  • Mobile check deposit
  • Online transfer
  • Mailed check
  • Wire transfer
  • Direct deposit


  • Online transfer
  • ATM withdrawal
  • Cashed check at another bank
  • Outgoing wire transfer

How do I contact customer service?

You can’t visit a branch of UFB Direct, but you can reach support in two ways:

  • Call 877-472-9200 toll-free from 9 a.m. to 5 p.m. PT.
  • Log in to your account and send a secure message.

Frequently asked questions

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Read the full methodology of how we rate savings accounts.

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