UBank reviews
Read the latest UBank reviews from real customers around Australia. Get the inside story on UBank from the Mozo community.
See all UBank reviews here, or search our reviews to find reviews about other providers.
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A Mozo reviewer from Australian Capital Territory, an UBank savings account customer.
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9Overall Rating |
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I like the savings graph that is shown when we log into our account and the high interest rate earned.
Reviewed 1 day ago
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9Pricing
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6Product Features
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8Customer Service
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10Convenience
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7Trust
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A Mozo reviewer from New South Wales, an UBank term deposit customer.
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10Overall Rating |
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Competitive/great service/ care for customer.
Reviewed 14 days ago
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10Pricing
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0Product Features
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10Customer Service
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-Convenience
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10Trust
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Sue from Queensland, an UBank savings account customer.
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10Overall Rating |
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UBank online savings account is the easiest savings plan I know. Awesome interest rate and money is on call.
Reviewed 14 days ago
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10Pricing
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6Product Features
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10Customer Service
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8Convenience
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10Trust
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Jules from Queensland, an UBank savings account customer.
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9Overall Rating |
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Pros:
No recurring fees.
Excellent interest rates.
Good customer service.
Competitive range of products.
Allows you to set up several automatic savings accounts-in-one and set targets for different items.
Cons:
Branch access can be problematic as it doesn't exist.
Online banking can be confusing when trying to navigate to the account itself as the website is bogged down with extra information tidbits and other features that resemble what you might imagine the actual savings account page but actually have no bearing on the automatic savings plans or transfer of funds.
Reviewed 14 days ago
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10Pricing
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9Product Features
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8Customer Service
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7Convenience
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8Trust
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Marty from Victoria, an UBank savings account customer.
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2Overall Rating |
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Signing up to uBank is deceivingly harder than signing up to a real bank. I signed up online, transferred money to my account and then when i urgently needed access to it again they wouldn't let me access the money! I was overseas, in desperate need of the cash and they said that the only way I could access my money is if I took a verification form into Australia Post, only me (not a family member) could do it (I was on the other side of the world in London). I had to borrow a huge loan on my Credit card till I got back to Australia 2 months later.
Don't trust these guys with your money they're rubbish.
Reviewed 14 days ago
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7Pricing
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2Product Features
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1Customer Service
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0Convenience
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1Trust
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A Mozo reviewer from Victoria, an UBank savings account customer.
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10Overall Rating |
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I really love having my Ubank account because it's all online so it's quick and easy to use. It has savings tracking so you set yourself a goal and it keeps you on track and motivated to get there! It also has a terrific interest rate so your hard earned money is working hard for you too. I'm saving for a house deposit at the moment and it's really helping me get to where I need to be. Ubank is also backed by the NAB - so I trust them. Overall I would recommend everyone use Ubank for their savings.
Reviewed 14 days ago
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10Pricing
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10Product Features
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-Customer Service
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10Convenience
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10Trust
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Susan from Victoria, an UBank savings account customer.
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8Overall Rating |
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Easy to use, helpful people to phone up.
Reviewed 14 days ago
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9Pricing
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5Product Features
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8Customer Service
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8Convenience
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6Trust
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Desmond from New South Wales, an UBank term deposit customer.
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10Overall Rating |
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So easy over the phone, easy transfer, really good experience for a change, will do business with them again and again.
Reviewed 14 days ago
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10Pricing
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7Product Features
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10Customer Service
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9Convenience
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10Trust
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Stacey from Victoria, an UBank savings account customer.
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9Overall Rating |
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This is a really great bank, because they do not have a 'shop front' and associated overheads so they are able to offer a higher interest rate. They allow you to open as many different accounts as you want, so you can save for different things. I would recommend this bank to everyone.
Reviewed 14 days ago
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9Pricing
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9Product Features
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9Customer Service
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9Convenience
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9Trust
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Danijela from Northern Territory, an UBank savings account customer.
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9Overall Rating |
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This particular online bank/savings account offers the highest of interest rate for both a simple savings account and term deposits. The account online is easy to use, well set up and the security is truly impressive. Customer service is available 24/7. The customer service reps are friendly, patient and well trained. All up I would recommend this service to everyone! I am extremely pleased with it.
Reviewed 15 days ago
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9Pricing
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8Product Features
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8Customer Service
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9Convenience
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9Trust
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Kathryn from New South Wales, an UBank savings account customer.
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9Overall Rating |
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Ubank is exactly as you would expect, an online bank with a no fuss, no glitz or glam approach and high interest. I love how easy it is to deposit and the charts to see your balance grow. The application process involves identity checks which are fast but a little bizarre. I felt a little weird that it could access my Medicare number but in the end worth it for the ease and high interest rates.
Reviewed 15 days ago
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9Pricing
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8Product Features
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8Customer Service
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10Convenience
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8Trust
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Ciacen from South Australia, an UBank savings account customer.
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10Overall Rating |
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It has a very competitive pricing - the highest market rate. Easily navigated website with graphs. High security with SMS code for every fund transfer. 24/7 Good customer service. Backed by NAB.
Reviewed 15 days ago
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10Pricing
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10Product Features
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10Customer Service
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10Convenience
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10Trust
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Jamie from New South Wales, an UBank savings account customer.
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8Overall Rating |
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They are competitive and dont just sit on their rear ends. Interest rate is actually a competitive ammount and is always increasing based on the competition.
Reviewed 16 days ago
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10Pricing
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10Product Features
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7Customer Service
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5Convenience
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5Trust
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M from New South Wales, an UBank term deposit customer.
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1Overall Rating |
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I dislike the product. This will be my last Term Deposit with Ubank. Why? Because they have told me they will charge a 95 dollar admin fee if I withdraw my funds early even though I can't find this fee in their Terms & Conditions or on their web site. I am waiting for them to show it to me. Also there is a reasonable deduction based on changes in interest rates (if any) PLUS other unspecified costs ("other components" - what is this??) as explained by Jimmy from Ubank:
Hello,
Thank you for your message.
Please be advised that the pre-payment cost to break a Term Deposit consists of two components:
Variable component: As you outlined, this component can vary on every calendar day. Based on what the interest rate for the account is, what the interest rate for the term is at the time of request and what the cost of replacement for the funds are to the financial institution, amongst other components.
Fixed component: A $95.00 administration cost, this is fixed.
If the total calculated pre-payment cost is greater than the accrued interest, the whole interest earned will be deducted and the principal amount will be transferred. If the total cost is less than the accrued interest, the amount will be deducted and the remaining interest will be transferred with the principal.
(truncated)
Speak soon,
Jimmy J.
UBank - A good place for money
Reviewed 21 days ago
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2Pricing
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0Product Features
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1Customer Service
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0Convenience
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2Trust
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Joseph from Victoria, an UBank savings account customer.
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9Overall Rating |
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I like this product as it's easy to open the account and easy to operate.
Reviewed 21 days ago
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9Pricing
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8Product Features
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8Customer Service
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8Convenience
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9Trust
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Belinda from New South Wales, an UBank savings account customer.
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10Overall Rating |
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Fantastic rates. Easy transfers and deposits. SMS security.
Reviewed 21 days ago
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9Pricing
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9Product Features
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9Customer Service
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10Convenience
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9Trust
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Grant from Victoria, an UBank savings account customer.
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8Overall Rating |
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Easy to deal with, good interest rate, bonus interest and no troubles to date
Reviewed 22 days ago
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8Pricing
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5Product Features
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7Customer Service
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7Convenience
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7Trust
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Lisa from Victoria, an UBank savings account customer.
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8Overall Rating |
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Pros: Great interest rate and easy to use website. Really nice people in the call centre.
Cons: Is an internet only bank. I had a lot of trouble trying to get a statement quickly for a home loan approval as they will under no circumstances email or fax.
Reviewed 22 days ago
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9Pricing
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5Product Features
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9Customer Service
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5Convenience
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6Trust
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Al from Victoria, an UBank savings account customer.
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10Overall Rating |
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UBank has been offering good interest rate and is still keeping up with the market.
Product is easy to use, has a lot of info on looking after your money, offers fun tools to help you plan ahead for your savings, and the interest rate is awesome!
Reviewed 23 days ago
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10Pricing
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10Product Features
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9Customer Service
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7Convenience
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10Trust
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Christina from Queensland, an UBank savings account customer.
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9Overall Rating |
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I like this product because it has helped me realise my saving potential by utilising their very available resources. Their calculators and graphs are effective and user friendly. They offer a very competitive interest rate and their customer service is outstanding. Their sign up process was very easy and smooth running and I am yet to experience any issues. There are no ridiculous fees and everything about this service is fair to the consumer. I am more satisfied with this institutions product than any other financial institution I have ever used.
Reviewed about 1 month ago
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10Pricing
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8Product Features
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10Customer Service
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10Convenience
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10Trust
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Anne from Victoria, an UBank savings account customer.
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8Overall Rating |
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I like this product because there is a good interest rates (better than bigger banks) which stays the same.
I also like the bucket saving feature.
There is no fees and I even get a bonus for having an automatic saving plan of $200 per month.
Can't really complain.
Reviewed about 1 month ago
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9Pricing
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8Product Features
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7Customer Service
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8Convenience
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8Trust
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Victoria from Queensland, an UBank savings account customer.
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7Overall Rating |
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These guys pay you the highest savings rate ever! Very much recommended.
Reviewed about 1 month ago
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10Pricing
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8Product Features
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5Customer Service
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10Convenience
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7Trust
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Natalie from Victoria, an UBank savings account customer.
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10Overall Rating |
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I really like their savings rate and the fact that they match other banks rates as well as long as it is not an offer for new customers.
There online application process was simple, but it said i could advise my tax file number late so I didn't submit it, then there was nowhere for me to enter it on the site so I had to ring instead. They were helpful but did tax me at highest rate for first month because they didn't have the tax file number. Otherwise they have been great
Reviewed about 1 month ago
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10Pricing
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9Product Features
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10Customer Service
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8Convenience
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9Trust
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Neil from South Australia, an UBank savings account customer.
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10Overall Rating |
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Have already told some of my friends and relations about Ubank.
Best interest rates which the bank raises automatically and the fact one can talk to a real person 24/7 leaves the other banks in the dark ages.
Reviewed about 1 month ago
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10Pricing
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10Product Features
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10Customer Service
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10Convenience
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10Trust
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Marilyn from New South Wales, an UBank term deposit customer.
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8Overall Rating |
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I like the U Bsnk, online bank,as it is accessible and courteous,their interest rates are among the best,and the options when the term is up are negotiable.
Reviewed about 1 month ago
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9Pricing
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8Product Features
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8Customer Service
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8Convenience
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8Trust
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Mich from New South Wales, an UBank savings account customer.
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10Overall Rating |
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Backed by NAB, I think it's reliable. Since I do my banking online, so far I haven't run into any problems or dealt with customer service. For what is on offer, it is very competitive.
Reviewed about 1 month ago
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10Pricing
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10Product Features
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-Customer Service
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10Convenience
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10Trust
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Chris from Western Australia, an UBank savings account customer.
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9Overall Rating |
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Well I've been with Ubank for over a year now and have a better idea of what this bank is offering. Their rate remains the best on the market and setting up an Automatic Savings Plan to get an extra 0.50% is simple. They also show you your current rate on their online statements page which is comforting. Once you get used to the site its quite easy to do your banking, setting up regular payments and doing once off transfers is simple enough.
Thankfully their site has become a little more user friendly speed wise but they still haven't removed all the extra rubbish that slows down the actual banking side of things. The lemon of a site is still alive and kicking but isn't enough to dissuade me from banking there as the interest rate is still the top of the heap so I'd recommend it for anyone with extra cash wanting to park the bulk of their savings in a safe bank (it is backed by NAB). With more features than most other 'online' banks it actually has a lot going for it. In actual fact the only thing really letting them down is their web site. Once they get that sorted most of the complaints about them will stop.
Reviewed about 1 month ago
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10Pricing
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7Product Features
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3Customer Service
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5Convenience
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8Trust
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James from Queensland, an UBank savings account customer.
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10Overall Rating |
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Absolutely no fees, and they pay the highest interest rate of any bank in the country.
Reviewed 2 months ago
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10Pricing
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10Product Features
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10Customer Service
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10Convenience
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10Trust
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