UFB Direct Portfolio Money Market Account

UFB Direct is a deposit brand whose bank products and services are offered by Axos Bank, and its Portfolio Money Market Account is positioned as a high yield place to park cash with check writing privileges. The page also advertises a promotional rate for new customers, so it is worth separating the advertised promo rate from the standard rate and the account's actual cost structure. The standard rate is 3.26% APY on a 3.21% interest rate, and UFB applies it uniformly across all five published tiers: $0 to $9,999.99, $10,000 to $24,999.99, $25,000 to $49,999.99, $50,000 to $99,999.99, and $100,000 and up. A flat rate across tiers means a modest balance is not penalized on yield. New customers who open the account with code UFB75 can get a boosted 4.01% APY for up to 6 months after opening, after which the standard rate applies; the page says the offer ends 10/31/26. The page does not state a minimum opening deposit, so confirm it before funding. Deposits are FDIC insured through certificate 35546 at $250,000 for individual accounts and $500,000 for joint accounts, and UFB separately offers an InsureGuard+ Savings account with expanded coverage up to $265 million through IntraFi. The cost is a $10 monthly maintenance fee, waived only if you keep a $5,000 balance. That waiver threshold, not the APY, is the number that should drive the decision. At $2,000 the $120 annual fee exceeds the roughly $65 of annual interest at the standard rate, so the account loses money outright. The flat rate invites small savers in and the fee then offsets the interest, which is the main criticism of this product. On access, the page mentions check-writing privileges. It does not say whether a debit card comes with this account, so confirm that and any transaction limit in the account agreement. This account makes sense for someone holding at least $5,000, and realistically a comfortable margin above it, who wants a single flat rate with check access. Skip it if your balance is smaller or volatile, or if you dislike monitoring a fee waiver.