BBB Accredited Business since
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This company offers checking and savings accounts.
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A BBB Accredited Business since
BBB has determined that UFB Direct, a division of BofI Federal Bank meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.
Reason for Rating
BBB rating is based on 16 factors. Get the details about the factors considered.
Factors that raised the rating for UFB Direct, a division of BofI Federal Bank include:
- Length of time business has been operating.
- Complaint volume filed with BBB for business of this size.
- Response to 5 complaint(s) filed against business.
- Resolution of complaint(s) filed against business.
- BBB has sufficient background information on this business.
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||3|
|Total Closed Complaints||5|
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||0|
Type of Entity
Business ManagementMr. Adriaan Van Zyl, EVP & Chief Operating Officer, Office of the COO
Related BusinessesBank of Internet USA, a division of BofI Federal Bank
Number of Employees
Alternate Business NamesBofI Holding Inc
The following Government Agency(s) or Association(s) may be able to provide you additional information:
U.S. Federal Deposit Insurance Corporation (FDIC) 15 Rockdale Street, Braintree MA 02184-0172 http://www.fdic.gov/
Industry TipsCredit Card Promotions Debt Collection Rights-Spanish Debt Relief Strategies Fair Credit Reporting Financial Industry Identity Theft
4350 La Jolla Village Dr #140
San Diego, CA 92122 (877) 472-9200 Directions
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Complaint Trends - Last 3 Years
Customer Review Trends
BBB Customer Review Rating plus BBB Rating Overview
BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.
|Customer Review Experience||Value|
|Positive Review||5 points per review|
|Neutral Review||3 points per review|
|Negative Review||1 point per review|
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Problems with Product/Service
Read Complaint Details
Complaint: On October 3, 2014, I attempted to open a Joint ******** ******** ******* checking account with my wife, and I have failed every time I apply. The first time I applied, we went through the entire process only to be denied a checking account based off the information found in my *********** report. I have NEVER had a problem opening any kind of account (checking, savings, credit, loan, etc...). I monitor mine and my wife's credit report and there is nothing derogatory that would prevent us from opening a checking account. We currently have 6-7 checking\savings accounts with other financial institutions. I feared that I may have entered something incorrectly on the first application so, I attempted to apply again, this time carefully checking my responses in the ID verification section where you need to answer identify questions. I again, received a denial based off my *********** report. It is my understanding that a *********** report is a bank reporting system that many banks use, to report derogatory banking information. I can assure you that, my wife and I, have an excellent banking record. Thinking that there may be an ID verification failure with either me or my wife, I attempt to apply for a single account for both my wife and myself (rather than joint accounts). Every time I apply now, I receive and message after I submit application that there was an ID verification failure and to contact your customer service if I have further questions. I have tried calling customer service and they all seem to very unwilling to help me with my situation. They are unwilling to escalate to a supervisor\manager and they will not provide me a phone number to anyone higher up. I feel that I have no other place to turn than the BBB to help get my issue to someone higher up that can actually help me.
Desired Settlement: I feel that my wife and I were denied an account for no legitimate reason and would love to get an ******** ******** ******* checking account opened with UFB. I feel that there must have been some kind of ID verification that prevented us from getting approved. I would be more than happy to fax\email any proof of ID, address, citizenship, etc... that is needed to get an account open.
October 16, 2014
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me. I would like to let UFB Direct know that I appreciate their willingness to help resolve my issue with not being able to open an account; ***** has been awesome to work with and she was able to get an account open for me. I feel bad that I had to open a BBB complaint against them however, there was no other way to get ahold of anyone at the company that could help me. The Customer service representatives would not tell me why I was denied an account and they were VERY unwilling to escalate to someone higher up. They would also not provide me with contact information to get ahold of anyone higher up either. I apologize for submitting BBB complaint however, thank you for resolving my issue. I really think that UFB would benefit for having a means for customers to reach out to someone higher up; I am willing to bet that I am not the only person this has happened to.
Problems with Product/Service
Read Complaint Details
Complaint: On Nov 3rd, I submitted an online application for a Airline Rewards Checking account (Application ID #*****). Within a few days I received a distressing email saying that my application was denied and this was due to information found in my Chexsystems consumer file. I knew this to be incorrect because, in addition to having an excellent credit score and consumer profile, I viewed a copy of my ChexSystems report a few months ago and found nothing. Concerned, I immediately ordered another copy of this report which UFB stated had information that was the basis of my denial. I recieved it a few days later only to find it had absolutely no derogatory information whatsoever in it. But it does show that Bank Of Internet made six (6) inquiries all on Nov 5th. I am not sure if this was a computer error or what but seeing as there is nothing in my file that could be remotely considered as negative and there were 5 inquiries in one day I called customer service to inquire about this. The representative was unhelpful and would not allow me to speak with a supervisor or anyone empowered to find out what was going on. I dont know where else to turn because UFB Direct does not have an effective way for customers (or would be customers) to get in contact with the departments needed to sort this type of thing out. You are put on hold while a customer service rep contacts them and relays your message. Then they come back and relays their message back to you. This back and forth can go on for quite a while and is not very productive when you are trying to problem solve.
Desired Settlement: The denial email I received reads: Application ID #***** ..... We regret to advise that we cannot open the Airline Rewards Checking account you requested due to information received from ChexSystems, a consumer reporting agency. ChexSystems did not make the decision to decline your request and is unable to provide you with specific reasons why the decision was made. You have rights under state and federal laws. Included in these rights are.... Again this is not correct. I have a copy of my ChexSystems report dated Nov. 5th which shows that there is absolutely adverse information within it. I will gladly provide UFB Direct a copy if they request it Simply send my a fax or email address you would like it sent to. I am asking that I be allowed to open an Airline Rewards Checking account as I believe there is no legitimate reason why I should not have one. I also monitor my credit reports and have no derogatory information within them either. Your assistance in this matter is greatly appreciated. Thank you in advance.
Please see attached for the letter BofI Federal Bank sent to Mr. ******* in response to his complaint.
Dear Ms. ****** & the BBB of San Diego,
Thank you so very much for the prompt and professional resolution of this issue. ***** was a pleasure to work with and did her research thoroughly.
I my account was opened and I recieved new account packet in an expedited manner. I regret I had to file a complaint with the BBB but your customer service/complaint flow is setup in such a way that customers (or potential customers) cannot get in contact with the next level to resolve issues that aren't part of a script. If you are able to find the representative I spoke with (via logs) I'd love for him to receive more training on this matter. Hopefully that can be resolved. I am sure I am not the first applicant to run into this problem but I hope I am the last.
Best Regards and Happy Holidays,
Read Complaint Details
Complaint: This complaint is over a $10 fee charged to my money market account that they would not reverse. When i first setup the account it initially had a $0 balance. While my first deposit of $5,000 was processing i was charged a $10 fee because it was under their $5,000 minimum balance to avoid fees. So that brought my balance to $-10. Then once my $5,000 deposit processed the account withdrew the $10 fee and set my amount at $4,900 which caused another $10 fee. after numerous phone calls the bank corrected this error. so after some time i decided to withdrawal all my money and close this account. i attempted to transfer all $5,000 in my account to another bank just like i did with other accounts at different banks. however i was unable to do so because they set me at a $2,000 limit to do so. when i called in for help move out all my money they said i just need to make multiple withdrawals. in doing so i was again charged a $10 fee and this time UFB said they would not reverse the charge because they had done so previously. their customer was of little to no help and i ended up getting ripped off by this bank for a measly $10. UFB has an unethical collection practice and should not get away with stealing their ex-customers money. i welcome a phone discussion to explain this complaint in more detail. thank you.
Desired Settlement: $10 refunded in fees
Please allow this letter to serve as a written summary of Bofl Federal Bank's a/k/a UFB Direct's
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID *******, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
|4/5/2013||Problems with Product/Service|
Read Complaint Details
Complaint: If you have internet banking account or want to open such account, please pay attention with bank service fees and charges. I had bad experiences with UFB direct bank/Bank of Internet USA, I then decided to close my account. Unfortunately, I did not receive the remaining account balance three weeks after my request. The bank personal told me "the check might be lost by USPS and an investigation request would be filed, and it could take up to 90 days for me to receive the new issue check". The bank's service and policy are terrible.
Desired Settlement: The bank should send me a replacement check while investigating the lost mail. I can't want for 3 months or even 1 month for the check (around $100,000).
Response to ********* *** Complaint ID *******
There was no error on our part. The check was issued for the combined closure of the customer’s UFB Checking, Savings, and Money Market accounts on 01/17/2013. It was issued for the correct amount to the address on file.
The customer called multiple times since the issuance claiming to have never received the check. Per our disclosures:
Any exceptions to this policy must be made by Operations Management.
SVP, Chief Deposit Officer
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID *******, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.
Based on bank's response, check is missing likely due to Poster office's error and can't be re-issued until 90 days later. Should the bank re-issue a check to me ASAP istead of 90 days?
We have only made exceptions, if the bank caused the error and the customer had funds in another account we were able to hold.
Ms. *** no longer holds any funds with our bank and the check was sent to the address on file, which was verified with the customer
If we issue another check before the 90 days we are liable for both- we are following our written disclosures and will reissue after 90 days.