Traveler Savings Account of UFB Direct Ups Yield to 4.00% APY
UFB Direct provides more attractive yield for holders of Traveler Savings Account by increasing it to 4.00% APY from 3.80%. One may open a Traveler Savings with a minimum of $500 and maintain this amount to gain interest. Account holders are not charged with fees for minimum balance.
The name of the Traveler Savings is primarily due to the potential AAdvantage miles one can earn maintaining the account. A $500 monthly average for 3 months will earn the account holder 500 miles. More miles can be earned with more banking activities conducted everyday.
A lot of experts though doubt how long the 4 % APY will last given the rates are on their way down. They are uncertain if the Traveler Savings will still have a competitive rate next year.
UFB Directs top performing account last year was the Absolute Savings which had 5.31% but has now dropped to 2.5% APY. The rates were lowered when UFB Direct introduced their money market savings.
UFB Direct is not the division of the bank but is affiliated with Affinity Financial Corporation. The latter serves as an intermediary between clients and the bank. All deposits are processed by Huntington National Bank insured with certificate # 6560 by the FDIC.
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