Hi Peter-
By default, Total Upkeep’s backups are stored in your hosting account’s home directory, in a folder called boldgrid_backup. This is best for security, because keeping it outside of your WordPress directory makes sure that it’s not visible to the public. You also have the ability to add a remote FTP server to store your backups offsite.
If you upgrade to Total Upkeep Premium, you’ll also have the ability to store your backups on Google Drive, Amazon S3, or another S3-Compatible storage service like DreamHost’s DreamObjects.