Alternative to BankDirect for AA Miles for banking---the reincarnated UFB Direct Bank
Dec 16, 2011, 3:30 am
#1
Original Poster
Join Date: Feb 1999
Location: City with Tax-Payer subsdized AA Maintance Base
Programs: Enough to Cause a Migraine
Posts: 1,857
Alternative to BankDirect for AA Miles for banking---the reincarnated UFB Direct Bank
The old UFB Direct bank gave AAdvantage Miles for certain accounts prior to it filing for bankruptcy and the FDIC taking it over.
It appears the bank is again up and running, and again offering AAdvantage miles for bank customers.
While I can’t speak from experience as to whether the new bank actually makes good on providing the miles, the old UFB Direct bank did actually provide miles prior to the bank going under FDIC management.
http://www.ufbdirect.com
It appears they are offering 1.30% on a savings account, which may sound too good to be true, but the former UFB Direct bank offered exceptional rates on deposit products as well. The website doesn't make it clear if you earn miles plus the 1.30% on a saving account.
It appears the bank is again up and running, and again offering AAdvantage miles for bank customers.
While I can’t speak from experience as to whether the new bank actually makes good on providing the miles, the old UFB Direct bank did actually provide miles prior to the bank going under FDIC management.
http://www.ufbdirect.com
It appears they are offering 1.30% on a savings account, which may sound too good to be true, but the former UFB Direct bank offered exceptional rates on deposit products as well. The website doesn't make it clear if you earn miles plus the 1.30% on a saving account.
Dec 16, 2011, 4:15 am
#2
Join Date: Mar 2008
Location: AUS TUS
Programs: AA PLT, UA GLD
Posts: 993
I don't see anywhere it mentions you earn miles on the balance?
https://www.ufbdirect.com/ufbdirect/...sclosures.aspx
it seems to me you earn miles with debt card purchases, and for savings you just earn 500 miles after 90 days and another 500 after 1 year?
https://www.ufbdirect.com/ufbdirect/...sclosures.aspx
it seems to me you earn miles with debt card purchases, and for savings you just earn 500 miles after 90 days and another 500 after 1 year?
Dec 16, 2011, 6:11 am
#3
Join Date: Nov 2007
Location: Arlington, VA
Programs: Any program with a credit card, or good prices.
Posts: 437
Giving miles does seem like a good way to build deposits if you are a new bank or a bank coming out of government receivership.
Dec 16, 2011, 6:25 am
#4
Original Member
Join Date: May 1998
Location: NYC
Programs: AA 2MM, Bonvoy LTT, Hilton Diamond
Posts: 14,636
It should be a crime for them to call the account Airline Reward Savings when the only miles you earn are a one-time max of 1,000 miles and you need to have the account open for a year.
Dec 16, 2011, 2:45 pm
#6
Join Date: Feb 2011
Location: NYC suburbs
Programs: UA LT Gold (BIS), AA LT Plat (CC SUBs & BD), Hilton Dia (CC), Hyatt Glob (BIB), et. al.
Posts: 3,290
•Earn rewards for everyday banking:
- 1 mile/point for every $2.00 Point of Sale (POS) debit transaction posted to your - account.
- You’ll receive a one-time additional 1,000 Miles/Points after having a direct deposit totaling $1,000 or more in one calendar month.
- 1 mile/point for every $2.00 Point of Sale (POS) debit transaction posted to your - account.
- You’ll receive a one-time additional 1,000 Miles/Points after having a direct deposit totaling $1,000 or more in one calendar month.
Dec 16, 2011, 4:07 pm
#7
Join Date: Mar 2008
Posts: 235
Doesn’t seem to be a very good alternative for BD.
I'm just wondering if I'll keep it at a zero balance or do I actually close BD (do they get balances in the negative with maintenance fees - other banks I dealt with didn't, but may close accounts with a zero $ balance, which would be fine)
Dec 16, 2011, 4:22 pm
#8
Join Date: Nov 2009
Location: DCA/IAD
Programs: AA EXP 2MM, OW Emerald, HH Diamond, PC Platinum, SPG Gold, Emerald Club Executive
Posts: 216
Shame UFB doesn't offer a (free) BD alternative.