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UFB Direct: US Savings 2%

By , June 20, 2009
I think this is a new product, but UFB has been known to change interest rates a bit on short notice. However, the customer service is pretty good.


US Savings Account Features.

Customer must deposit at least $1 earn interest.
No monthly maintenance fees.
Customers with negative balances for over 5 calendar days will be charged a daily fee until sufficient funds are deposited to bring the balance positive.
Please see our RATES AND FEES PAGES for current specifics.

Interest is accrued daily and compounded monthly based on the ending daily collected principal balance. Interest rates and annual percentage yields may change at any time solely at WFS's discretion. You will be provided a monthly statement. If you consent to delivery of Electronic Statements, you will not receive paper Periodic Statements. You may obtain paper copies of your Electronic Statements by printing them yourself or by saving a copy to your computer and printing it later. You may also request a paper copy by contacting Customer Service. After account opening, a fee will be assessed for paper statements effective with the third statement cycle. If you do not have computer access and indicate on your Account Application that you require paper copies of all documents, we will provide the documents to you at no charge. A penalty may be imposed if your account exceeds the pre-authorized transfer limit. A total of 6 pre-authorized transfers are permitted per cycle period. The account could be closed or changed to a transaction account (checking account) if the above withdrawal limits have been exceeded 3 cycles within a 12 cycle period. ATM Card access is available for this account. WB reserves the right to deny ATM Card privileges when applicable. Online Bill Pay and Debit Cards are not available for the US Savings Account.

Interest is calculated daily on the day's ending collected balance and is paid to you by crediting the account monthly on the date the statement of account is prepared. The rate of interest on your account is determined by WFS, and may vary during the life of the account while the method of calculation, the compounding and the payment of interest on your account are determined by WB.

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