Savings accounts: UFB Direct Secure Savings Account vs. American Express High-Yield Savings Account

Quick Verdict

UFB Direct Secure Savings Account is a better choice for users who can meet the requirements to obtain the higher APY and don't make frequent withdrawals. American Express High-Yield Savings Account is better for users who value unlimited withdrawals and the security of a well-established brand, even with a slightly lower APY.

UFB Direct offers a potentially higher APY (up to 4.21%) compared to American Express (3.50%), but it requires linking a UFB checking account and meeting specific requirements.
Both accounts have no minimum deposit requirement and are FDIC insured.
American Express offers unlimited withdrawals, while UFB Direct has withdrawal limits and fees for excessive withdrawals.
Both provide online and mobile app access, as well as 24/7 customer service.
UFB Direct has more specific fees for certain transactions like wire transfers and ATM card replacement, while American Express's transaction fees are not specified.

Key features – Side-by-Side

Attribute	UFB Direct Secure Savings Account	American Express High-Yield Savings Account
Annual Percentage Yield (APY)	Competitive APY of 4.01% on all balances; up to 4.21% with linked UFB checking account and meeting requirements.	3.50% as of August 1, 2025
Minimum Deposit to Open	No minimum deposit required.	$0
FDIC Insurance	FDIC-insured up to $250,000 per depositor.	Yes, up to $250,000 per depositor, per insured bank, for each account ownership category
Compounding Frequency	Interest is compounded daily.	Daily
Online Accessibility	Online-only bank; accounts managed through their website.	Yes
Mobile App Availability	Highly-rated mobile app for both iOS and Android devices.	Yes
Customer Service Channels	24/7 by phone at 1-877-472-9200; Live chat on weekdays from 8 a.m. to 5 p.m. PT for logged-in customers; Secure message through account portal.	24/7 phone support and 24/7 live chat (English only, when logged in)
Balance Tiers for APY	Same APY across all balance tiers.	Not specified; the APY is consistent regardless of the balance
Fees	No monthly maintenance fees; $10 excessive withdrawal fee for each withdrawal over six per month; $35 outgoing domestic wire transfers; $45 outgoing international wire transfers; $10 fee for a replacement ATM card.	Monthly Fee: $0, Transaction Fees: Not specified
Withdrawal Limits	Limits on certain withdrawals and transfers to six per statement cycle; Maximum to transfer in: $250,000.00; Maximum per day in or out: $30,000.00; Maximum per month: $60,000.00; Cash withdrawal from an ATM using an ATM card - $510.00 daily limit; Point-of-sale transaction using your ATM card - $500.00 daily limit.	No withdrawal limits
Linked Checking Account Options	Linking a UFB Freedom Checking account can boost the APY on the savings account up to 4.21% if requirements are met.	Yes, American Express offers a rewards checking account
Interest Payment Frequency	Paid monthly.	Monthly

Overall Comparison

UFB Direct: Up to 4.21% APY vs American Express: 3.50% APY. Both have no minimum deposit and are FDIC insured.

Pros and Cons

UFB Direct Secure Savings Account

Pros:

Competitive APY
No minimum deposit
FDIC insured
Highly-rated mobile app
24/7 customer service by phone

Cons:

$10 excessive withdrawal fee if you exceed six withdrawals per month
Longer than expected ACH transfer times reported by some users
Some users have reported long response times via secure message

American Express High-Yield Savings Account

Pros:

Competitive APY
No minimum deposit to open
FDIC insured
24/7 customer service
User-friendly mobile app
No withdrawal limits

Cons:

No major disadvantages reported.

User Experiences and Feedback

UFB Direct Secure Savings Account

What Users Love

Easy and smooth account opening process
Strong, competitive APY

Common Complaints

Longer than expected ACH transfer times
Long response times via secure message reported by some users

Value Perception

No value feedback reported.

User Recommendations

Setting up an account is reported to be super easy and smooth.
It takes about 5 minutes to open an account.
ACH transfers take 6 business days to clear but start earning interest the day they're received.
Transfers out of the account are very quick.

American Express High-Yield Savings Account

What Users Love

Easy to open an account online
Transactions typically process within two business days
Strong reputation for security and reliability

Common Complaints

No major complaints reported.

Value Perception

No value feedback reported.

User Recommendations

Opening an account online is straightforward. You'll need to verify your identity and link an external bank account.
The American Express mobile app allows you to manage your savings account, check balances, and transfer funds.
American Express has a strong reputation for security and reliability.