Quote:
Originally Posted by RoadToad
UFB Direct offers online and checking; ATMs at all WAWAs.
Pays 5.25% Money available 24/7.
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Note that the UFB Direct rate of 5.25 percent is the APY. The actual interest rate is 5.12 percent. The account also has the following disclaimer:
"The Annual Percentage Yield (APY) is accurate as of 04/09/2024. The interest rate and corresponding APY for savings is variable and is set at our discretion. This is a tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings."
By contrast, the rates advertised for Vanguard and Fidelity money market accounts are current 7-day yields after fees are calculated. Their rates are based on the market conditions for the securities and not at the discretion of Vanguard and Fidelity.