UBank savings account reviews

UBank

How are UBank savings accounts rated by the Mozo community?

82%

Overall Mozo Community rating: 8.2 out of 10

UBank savings accounts

Overall rating: 8.2 (103 reviews)*

Last reviewed: 07 March 2014


  1. Overall customer rating
  1. Price
  1. Features
  1. Customer service
  1. Convenience
  1. Trust

* based on reviews in the past 12 months

Reviews: 459

Thumbs up: 435 | Thumbs down: 24

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

Featured savings account from UBank

  • USaver with Ultra
  • special rate

    4.37%(for $0 to $200,000)

  • interest rate

    3.31%(for $0 to $5,000,000)


Other savings accounts

  • UniSaver
  • interest rate

    0.05%(for $0 to $20,000)

  • account fee

    $0.00

  • Go to site
     
  • Online Saver
  • special rate

    3.90%(for $0 and over)

  • interest rate

    2.50%(for $0 and over)

  • Go to site
     

Compare all savings accounts

Write a review

Recent UBank savings account reviews

Sort reviews by: date | helpful vote | thumbs up | thumbs down
  • Nightmare

    1. Overall customer rating
    2. (Reviewed 12 days ago)

    Absolute nightmare! Website constantly having issues and online verification rarely functioning. Keep in mind you cannot just go into a branch if you have an issue. I have not been able to access my money since I deposited it a few weeks ago due t...  Full review 

    Absolute nightmare! Website constantly having issues and online verification rarely functioning. Keep in mind you cannot just go into a branch if you have an issue. I have not been able to access my money since I deposited it a few weeks ago due to issues on their end verifying my husband's account. Because it is a joint account, I cannot touch my own money! Of course everything, even ID verification via Australia Post takes 3-5 business days. Avoid Ubank like the plague!


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Marie

    Was this review helpful? Yes flag

  • Beware of Ubank

    1. Overall customer rating
    2. (Reviewed about 2 months ago)

    Headline interest rate is attractive and account is all good until you have a problem - once you have a problem, customer service is terrible. As soon as I can actually get my money out of my account, I will be closing the account down and going s...  Full review 

    Headline interest rate is attractive and account is all good until you have a problem - once you have a problem, customer service is terrible. As soon as I can actually get my money out of my account, I will be closing the account down and going somewhere else.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Graham from Western Australia

    1 person found this review helpful – do you? Yes flag

  • Great interest returns. Easy website to navigate

    1. Overall customer rating
    2. (Reviewed 4 months ago)

    Great bank, great online site and interest.  Full review 

    Great bank, great online site and interest.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Verity from South Australia

    2 people found this review helpful – do you? Yes flag

  • Great saving strategy and awesome customer service

    1. Overall customer rating
    2. (Reviewed 5 months ago)

    This is an online bank which is simple to set up and use. If you need assistance they are only a phone call away and always friendly and eager to help. They even suggest great ways to save.  Full review 

    This is an online bank which is simple to set up and use. If you need assistance they are only a phone call away and always friendly and eager to help. They even suggest great ways to save.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Vivienne from South Australia

    1 person found this review helpful – do you? Yes flag

  • Great provider highly recommend

    1. Overall customer rating
    2. (Reviewed 5 months ago)

    Pros: Great interest rates. Great security. Easy to use. Cons: Need 10k to open ultra acc. Transferring money overseas is difficult.  Full review 

    Pros: Great interest rates. Great security. Easy to use. Cons: Need 10k to open ultra acc. Transferring money overseas is difficult.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Phillip from Victoria

    1 person found this review helpful – do you? Yes flag

  • Great place to build savings up. Excellent product

    1. Overall customer rating
    2. (Reviewed 6 months ago)

    Great savings account. Easy to set up and use. Great interest rate.  Full review 

    Great savings account. Easy to set up and use. Great interest rate.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from Victoria

    1 person found this review helpful – do you? Yes flag

  • VERY EASY TO USE

    1. Overall customer rating
    2. (Reviewed 6 months ago)

    Its very easy to transfer money to linked accounts. The interest rate is about the best you can find in Australia. I think it is a very secure account.  Full review 

    Its very easy to transfer money to linked accounts. The interest rate is about the best you can find in Australia. I think it is a very secure account.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from New South Wales

    1 person found this review helpful – do you? Yes flag

  • Consistently good

    1. Overall customer rating
    2. (Reviewed 6 months ago)

    Ubank is great!!! I have had other savings accounts in the past; NAB isaver, ING savings maximiser, but i always seem to go back to ubank. Reliable, always a good rate, encouraging, has a pig flying around :). Very safe. The only issue I have ha...  Full review 

    Ubank is great!!! I have had other savings accounts in the past; NAB isaver, ING savings maximiser, but i always seem to go back to ubank. Reliable, always a good rate, encouraging, has a pig flying around :). Very safe. The only issue I have had with them was related to customer service, where a mistake was made when we went to open a joint account with my fiancee and they decided not to do our tax correctly so we paid too much. Then they didn't admit to the mistake and pretended it was our fault so they didn't want to reimburse the tax we overpaid. The way it was handled was not good and I moved the account over to ING for their honeymoon period. So, I guess the moral of that story is check everything with tax numbers etc with online accounts, as they are definitely good but just have to try to prevent issues, as it may be hard to unravel. For them, improving customer service would probably be something they should be looking into. I would recommend highly....keep checking your account though to make sure tax is taken out right :)


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by A&d from Queensland

    3 people found this review helpful – do you? Yes flag

  • Awesome

    1. Overall customer rating
    2. (Reviewed 6 months ago)

    The call centre staff are great, very helpful and knowledgable. Have a great range of products and their interest rates are awesome. Overall I one very happy customer so much so that I am moving my mortgage to them in the next couple of months.  Full review 

    The call centre staff are great, very helpful and knowledgable. Have a great range of products and their interest rates are awesome. Overall I one very happy customer so much so that I am moving my mortgage to them in the next couple of months.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from Northern Territory

    Was this review helpful? Yes flag

  • Easy application, great service, high credit

    1. Overall customer rating
    2. (Reviewed 7 months ago)

    I have not regretted moving my savings into this bank. It was a very simple online process to set up, in which, when I had problems and called the bank they were very quick to answer my call and had my issues dealt with extremely efficiently. This...  Full review 

    I have not regretted moving my savings into this bank. It was a very simple online process to set up, in which, when I had problems and called the bank they were very quick to answer my call and had my issues dealt with extremely efficiently. This savings account also has an amazing interest rate with suitable terms as conditions. They are also backed by a major bank which makes me feel safer about my savings being with them. I couldn't be happier, and wish I had found them a lot quicker!


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from Victoria

    2 people found this review helpful – do you? Yes flag

  • Competitive and friendly service

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    Accessible by online easy to view products and account balances. You can't access funds fast which restricts impulse buying - this is a good thing.  Full review 

    Accessible by online easy to view products and account balances. You can't access funds fast which restricts impulse buying - this is a good thing.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from New South Wales

    3 people found this review helpful – do you? Yes flag

  • Very competitive rates and easy to transact with.

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    Ubank for me offers competitive rates, easy and quick access to my money, and a great online platform. I have been pleasantly surprised at the quality of service from an "online" provider. Generally the contact has been very helpful, and responsiv...  Full review 

    Ubank for me offers competitive rates, easy and quick access to my money, and a great online platform. I have been pleasantly surprised at the quality of service from an "online" provider. Generally the contact has been very helpful, and responsive. No real cons to speak of for me.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from Tasmania

    2 people found this review helpful – do you? Yes flag

  • High interest rate, low fees, convenient.

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    High interest rate, low fees, convenient - what's not to love! And the comfort of knowing I can access quickly and easily if I need to rather than locking away in term deposits.  Full review 

    High interest rate, low fees, convenient - what's not to love! And the comfort of knowing I can access quickly and easily if I need to rather than locking away in term deposits.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from Victoria

    3 people found this review helpful – do you? Yes flag

  • Good

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    Easy to use no charges at two banks.  Full review 

    Easy to use no charges at two banks.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from Queensland

    2 people found this review helpful – do you? Yes flag

  • Good interest rates and easy to use online

    1. Overall customer rating
    2. (Reviewed 8 months ago)

    Pro: They have the best interest rates, and easy use of online banking. Cons: Takes extra time to transfer money to be paid out as you cannot withdraw direct. Problem if you are buying a house and need the cash for an auction :)  Full review 

    Pro: They have the best interest rates, and easy use of online banking. Cons: Takes extra time to transfer money to be paid out as you cannot withdraw direct. Problem if you are buying a house and need the cash for an auction :)


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Merren from New South Wales

    4 people found this review helpful – do you? Yes flag

  • Fantastic high online savings account

    1. Overall customer rating
    2. (Reviewed 9 months ago)

    Ubank have been a great high online savings account for me. The interest rates are better than my Ing account and I feel absolutely secure banking with them. I find that when I need to call staff that they are highly competent at sorting out my af...  Full review 

    Ubank have been a great high online savings account for me. The interest rates are better than my Ing account and I feel absolutely secure banking with them. I find that when I need to call staff that they are highly competent at sorting out my affairs and they are extremely helpful and friendly. This product has works great for me and would recommend it highly.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Gynia from Queensland

    6 people found this review helpful – do you? Yes flag

  • Very good interest rate

    1. Overall customer rating
    2. (Reviewed 9 months ago)

    Great high interest savings acccount - easy online user interface, good terms & conditions.  Full review 

    Great high interest savings acccount - easy online user interface, good terms & conditions.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from New South Wales

    1 person found this review helpful – do you? Yes flag

  • Great account for savers with a mission

    1. Overall customer rating
    2. (Reviewed 9 months ago)

    Great product for saving - limited access (only online - no ATM card) is actually a benefit when trying to save for a goal - no quick withdrawals possible!  Full review 

    Great product for saving - limited access (only online - no ATM card) is actually a benefit when trying to save for a goal - no quick withdrawals possible!


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from New South Wales

    Was this review helpful? Yes flag

  • Do not use until they resolve IT issues.

    1. Overall customer rating
    2. (Reviewed 9 months ago)

    There are constant problems accessing online account information and making transfers due to issues with Internet Explorer 10.  Full review 

    There are constant problems accessing online account information and making transfers due to issues with Internet Explorer 10.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from Victoria

    1 person found this review helpful – do you? Yes flag

  • Excellent online saver account

    1. Overall customer rating
    2. (Reviewed 9 months ago)

    Ubank make saving easy and simple. I have had great interest from my savings this last year!  Full review 

    Ubank make saving easy and simple. I have had great interest from my savings this last year!


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Lucy from Queensland

    1 person found this review helpful – do you? Yes flag

  • Hassle-free operation

    1. Overall customer rating
    2. (Reviewed 9 months ago)

    For an online product they are really user friendly via the net and over the phone or via Skype. Good rates for saving and products available.  Full review 

    For an online product they are really user friendly via the net and over the phone or via Skype. Good rates for saving and products available.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by a Mozo reviewer from New South Wales

    Was this review helpful? Yes flag

  • Good rates.

    1. Overall customer rating
    2. (Reviewed 9 months ago)

    High interest rate, set & forget. Great customer service when required. BUT would like to be able to access money from an ATM or similar if required.  Full review 

    High interest rate, set & forget. Great customer service when required. BUT would like to be able to access money from an ATM or similar if required.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Samee from New South Wales

    2 people found this review helpful – do you? Yes flag

  • Great interest rates and online service

    1. Overall customer rating
    2. (Reviewed 9 months ago)

    My Usaver account has always given me the best interest rate without penalties for withdrawing money, it was easy to set up and their online tools to track my savings are really helpful. The only con, if any, is that you need to be happy to do all...  Full review 

    My Usaver account has always given me the best interest rate without penalties for withdrawing money, it was easy to set up and their online tools to track my savings are really helpful. The only con, if any, is that you need to be happy to do all your banking with them online, most transactions can only be done on their website; not a problem for me anyway.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Mike from Victoria

    1 person found this review helpful – do you? Yes flag

  • Good rates good access online

    1. Overall customer rating
    2. (Reviewed 10 months ago)

    Good ongoing rates rather than lure in rates for online savers. Ease of access through online.  Full review 

    Good ongoing rates rather than lure in rates for online savers. Ease of access through online.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Lisa from New South Wales

    1 person found this review helpful – do you? Yes flag

  • Great rates, great online tools, good access

    1. Overall customer rating
    2. (Reviewed 10 months ago)

    This is the ideal product for those looking for a high interest online accounts. So easy to set up regular deposits and link existing accounts from any institution. Lots of added value on the site to help you set and reach your savings goals. Grea...  Full review 

    This is the ideal product for those looking for a high interest online accounts. So easy to set up regular deposits and link existing accounts from any institution. Lots of added value on the site to help you set and reach your savings goals. Great way to turn your dreams into reality.


      1. Price
      1. Features
      1. Customer service
      1. Convenience
      1. Trust
    Less
    UBank savings account reviewed by Anne from New South Wales

    Was this review helpful? Yes flag

What type of savings account are you looking for?

Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.