Does UFB Direct Bank give a bonus?

[al0061]

Re: Does UFB Direct Bank give a bonus?

Well, the 200 made it safely and quickly to UFB and I received an email notification of the fact yesterday morning. (Didn't have time to post about it yesterday.) Checked online and there it was.

Checked this morning, and they've made 100 of the 200 available. Interesting. I wonder how long the 'hold' on the rest of the funds will be. (Not that I'm thinking of withdrawing anything. It's staying right there!) I also wonder when the bonus will be credited. I'll keep you posted on that.

So, despite the Firefox issues, this has seemed very easy and quick! Very quick! 5 days from start to 'funded'. Doing it online through my bank was a good idea. I just made sure to include the routing number And the account number in my 'payee' file.

Now I can move more money over. I'm waiting for my first interest payment from ING before I move money around.

Hmm. Something just occured to me. Since there's no linked account, I wonder how I'll get money out? Maybe I'll find out more about that before moving more money in. I'll want easy access for emergencies. I'll let you know.

Torch - aka al0061

[mehmeh]

Re: Does UFB Direct Bank give a bonus?

i read on another forum, that u can get the money out by opening a ufb checking account as well. it's also the same minimum, no fees deal as most of these internet banks, as of now.

so basically, transfer it from savings to checking and withdraw it with a check to urself ..

[al0061]

Re: Does UFB Direct Bank give a bonus?

Thanks, mehmeh. That's an idea.
I've sent an email to UFB's customer service with a few questions. Asking about withdrawal methods is one of them. Another is about when the 25.00 bonus will be credited. And I asked if they send a new account package, and what it might contain. I'll let you know what they say.

In thinking it over, for me, the 'no linked accounts' thing could prove to be problematic. I don't want or need another checking account. No matter what, I think the process will be worth it for the bonus, but I'm rethinking putting more funds in this one for the overall small increase in return over Emigrant and ING, and their genuine ease-of-use.

Live and learn.
Torch - aka al0061

[UFBDirectRep]

Re: Does UFB Direct Bank give a bonus?

I've received some personal e-mails asking about the May promotion, so I'd like to take this opportunity to clarify my previous statement. Each customer is only eligible for one $25 bonus. You wouldn't get $25 for each new account you open. Existing customers can fund one new account each to get the $25 bonus, and it can't be a transfer from an existing account.
There is a $30 fee for withdrawing funds before 120 days have expired.

Thanks for all of your suggestions.

[al0061]

Re: Does UFB Direct Bank give a bonus?

I received a reply to my inquiries to UFB Customer Service. Here is the text of my inquiry and the reply. (By the way, I did it through UFB's 'Bank Mail'. Nice that they answered right away, within a day. And they 'addressed' me formally, by name. A nice touch.)

Inquiry
To Whom it May Concern: When does the $25 bonus get credited? Also, since you don't have 'linked' accounts through your site, could you please outline the ways one can make withdrawals? I don't plan on taking money out, but I do need to know how it can be done.The site is a bit unclear about the details of some stuff. Will I be getting some sort of package in the mail? I saw mention of an ATM card. Is that for all accounts or just checking accounts?Thanks for your help

Reply
Qualifying accounts will receive the bonus once the promotion has ended (May 31). You may make withdrawals on the account via an ATM card (automatically ordered), by requesting a cashiers check (free) or wire transfer ($10 fee on domestic wires). You should receive the welcome packet in about 7-10 business days. If there is anything else we can help you with please let us know. Sherry Customer Service

Torch - aka al0061

[al0061]

Re: Does UFB Direct Bank give a bonus?

Well, I don't think I checked my UFB account yesterday, but the funds are all showing as available today. Very quick. It seems that the funds were first credited on 5-16 and were available either yesterday or today. 5 or 6 days is fast, for an initial deposit.

I'll probably receive my new account package this week.

Have a nice week, all.
Torch - aka al0061

[al0061]

Re: Does UFB Direct Bank give a bonus?

I checked this morning, and I got .09 in interest posted for the 11 days my $200 has been in the account.

Still no new account package, though.

Torch

[UFBDirectRep]

Re: Does UFB Direct Bank give a bonus?

Good news!
Due to popular demand, we are extending our May Special until the end of August. All previously mentioned terms and conditions still apply, e.g., each customer is only eligible for one $25 bonus, you wouldn't get $25 for each new account you open, existing customers can fund one new account each to get the $25 bonus, and it can't be a transfer from an existing account, and there is a $30 fee for withdrawing ALL of the funds before 120 days have expired.

[al0061]

Re: Does UFB Direct Bank give a bonus?

Well, I got my new account package and my ATM card yesterday. Worked 12 hours so was too tired to read it.

I checked this morning and my account has not yet been credited with the bonus. Since the customer service person told me it would be credited on 5-31, I expected to see it.

Hmm. I'll let you know.
Torch

[al0061]

Re: Does UFB Direct Bank give a bonus?

The latest update on UFB is that as of yesterday morning, I still had not been credited the bonus. (Remember, I was told that it would be credited on 5-31-05.)
I used their 'bank mail' to email customer service and asked where it was. I expressed my disappointment that the bonus was not credited as promised, and that I would probably not be moving any more funds to the account.

I've received no reply, but the bonus appeared as a miscellaneous credit in my account this morning.

I'm not happy with UFB, as I don't feel that they have their act together. As soon as the 120 days is up, I'm removing my funds and closing the account. It's not worth the extra .05 percent. The bonus is worth the wait. I'm glad I only deposited the minimum. I'm much happier with ING and Emigrant.

As for the UFB chapter...
The end.

Torch

[al0061]

Re: Does UFB Direct Bank give a bonus?

Well, six days after my email to UFB, I finally received two replies this evening. The first just told me that the bonus had been credited. The other gave a bit more detail.

"Thank you for your response to our recent promotion. The bonus will be applied approximately one month after the funding date. You are welcome to use your deposited funds at any time as it is not a requirement to maintain that balance for the bonus. Thank you, Cheryl Thompson, CSR"

That last jives with what the UFB guy said in his last post. I apparently can withdraw all my Deposited funds if I want, but not All my funds.

Torch

[gavinmccallister]

UFB Direct Interest rate higher then Emigrant Direct

When I logged into my UFB account to see if my deposit had credited much to my surprise their interest rate was 3.40% higher then Emigrant I wonder what Emigrant will do possibly a 4.00 yield? (I hope!)

[genchan]

Re: Does UFB Direct Bank give a bonus?

It's also a lot higher than the 3.15% ING is currently offering. I don't think Emigrant will raise their rates (I hope I'm wrong). It seems the banks get the top spot, soak in the publicity and new accounts and then sit back and keep their rate the same.

[UFBDirectRep]

Re: Does UFB Direct Bank give a bonus?

This is a reminder that our $25 bonus offer is only good for accounts opened through August 31.
Our High Yield Money Market Savings accounts now have an APY of 3.70%!

http://www.ufbdirect.com/ufbdirect/

[UFBDirectRep]

UFBDirect.com

The APY for our High Yield Money Market Savings accounts is now up to 3.80%!

Joe Leibrandt
Marketing Director