UBank savings account reviews

UBank
UBank's overall rating for savings accounts

(as rated by the Mozo community)

8.4

based on 78 reviews in the
past 12 months

 

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Recent UBank savings account reviews

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UBank

UBank USaver savings account review

Overall rating   8 / 10

Excellent

Good but don't have any branches.
Full review

Good but don't have any branches.

    Price   7 / 10

    Features   7 / 10

    Customer service   5 / 10

    Convenience   2 / 10

    Trust   8 / 10

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Shanla (VIC), reviewed 16 days ago

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UBank

UBank USaver with Ultra Transaction Account savings account review

Overall rating   8 / 10

Great rates

Great rates on savings.
Full review

Great rates on savings.

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

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David (NSW), reviewed 23 days ago

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UBank

UBank USaver with Ultra Transaction Account savings account review

Overall rating   8 / 10

Competitive interest rate and very user friendly

Very competitive interest rate and easy to navigate website with confirming emails for every transaction made. Advised in advance of product change and course of action suggested made change easy.
Full review

Very competitive interest rate and easy to navigate website with confirming emails for every transaction made. Advised in advance of product change and course of action suggested made change easy.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Jill (SA), reviewed about 1 month ago

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UBank

UBank USaver Reach (18 to 29 year-olds only) savings account review

Overall rating   10 / 10

Does just what it says on the tin

I've been looking for a savings account that would work for my circumstances for a while and the UBank Usaver Reach seems to be the best option around. The interest rate seems competitive and I like that there's no hidden catches attached to...
Full review

I've been looking for a savings account that would work for my circumstances for a while and the UBank Usaver Reach seems to be the best option around. The interest rate seems competitive and I like that there's no hidden catches attached to receiving it - as long as you're in the right age bracket and don't have more than $5,000 in the account you'll get that rate. The lack of monthly fees is also another big drawcard. However, the trade-off for the good interest rates is that it's an online-only account; yes, it's backed by NAB but you can't deposit funds via their branch or set up the account through them. I've found the website to sometimes be slightly counter-intuitive to navigate and it's occasionally given me error messages. They also do not have a mobile app (which is a shame as it would be nice to be able to check how much money I've saved without having to go through the rigmarole of logging into their site). In my opinion, these are all small quibbles in the face of the interest you can earn. Transferring money out of the account can also be quite slow - you certainly wouldn't want to use this as a place to keep your emergency funds. However, I personally think this is closer to a feature than a disadvantage as it's an easy way to prevent impulse shopping!

    Price   10 / 10

    Features   0 / 10

    Customer service   5 / 10

    Convenience   3 / 10

    Trust   10 / 10

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Chloe (SA), reviewed about 2 months ago

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UBank

UBank savings account review

Overall rating   5 / 10

High interest rate

High interest rate is its best feature.
Full review

High interest rate is its best feature.

    Price   5 / 10

    Features   4 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   5 / 10

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Michael (QLD), reviewed 3 months ago

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UBank

UBank savings account review

Overall rating   8 / 10

Great interest rate and great service

I love the fact the interest rate is competitive, and you always get great customer service. Downside is that it's all online with no branches, so may not be suitable for people who make a lot of over-the-counter transactions.
Full review

I love the fact the interest rate is competitive, and you always get great customer service. Downside is that it's all online with no branches, so may not be suitable for people who make a lot of over-the-counter transactions.

    Price   10 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Michelle (TAS), reviewed 3 months ago

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UBank

UBank savings account review

Overall rating   10 / 10

Great interest savings account.

Ubank has one of the best savings interest rates around. They are easy to use any time of the day through the website, don't charge any fees and I can withdraw or deposit as much as I like.
Full review

Ubank has one of the best savings interest rates around. They are easy to use any time of the day through the website, don't charge any fees and I can withdraw or deposit as much as I like.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Roland (TAS), reviewed 3 months ago

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UBank

UBank savings account review

Overall rating   7 / 10

Online only, high interest savings. No branches.

Ubank is an online only bank, that offers me a high interest rate savings account which is great. One of the highest rates around. Downside to being online only is that there are no physical branches, so if I want to make a deposit, I had to...
Full review

Ubank is an online only bank, that offers me a high interest rate savings account which is great. One of the highest rates around. Downside to being online only is that there are no physical branches, so if I want to make a deposit, I had to set up a NAB account to transfer across. Free to set up, but a minor nuisance. Overall, easy to use with my weekly pay being deposited straight in and interest added on the first day of each month.

    Price   9 / 10

    Features   6 / 10

    Customer service   4 / 10

    Convenience   4 / 10

    Trust   8 / 10

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Josh (NSW), reviewed 3 months ago

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UBank

UBank savings account review

Overall rating   8 / 10

Easy online banking.

UBank makes banking easy - online facility is easy to manage, and has good notification features.
Full review

UBank makes banking easy - online facility is easy to manage, and has good notification features.

    Price   8 / 10

    Features   5 / 10

    Customer service   7 / 10

    Convenience   9 / 10

    Trust   7 / 10

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Kerrie (NSW), reviewed 3 months ago

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UBank

UBank USaver with Ultra Transaction Account savings account review

Overall rating   10 / 10

So convenient !!

The added transaction features and card are unbelievable and so convenient. There is no limit on sales transactions other than my balance.
Full review

The added transaction features and card are unbelievable and so convenient. There is no limit on sales transactions other than my balance.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Nita (NSW), reviewed 3 months ago

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UBank

UBank USaver with Ultra Transaction Account savings account review

Overall rating   6 / 10

Good rates

Great rate, but the regular deposit of $200 from one external account to an internal account and another makes things more complex.
Full review

Great rate, but the regular deposit of $200 from one external account to an internal account and another makes things more complex.

    Price   9 / 10

    Features   9 / 10

    Customer service   6 / 10

    Convenience   4 / 10

    Trust   7 / 10

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Kristina (VIC), reviewed 4 months ago

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UBank

UBank USaver with Ultra Transaction Account savings account review

Overall rating   7 / 10

Great features rewarding those that save

An awesome high interest online savings account with the added feature of an everyday transaction account attached. The sweep function can allow you to keep that nest egg away from those everyday temptations allowing your wealth to grow. Bonus...
Full review

An awesome high interest online savings account with the added feature of an everyday transaction account attached. The sweep function can allow you to keep that nest egg away from those everyday temptations allowing your wealth to grow. Bonus interest is a great way to reward those that try to save. The attached Ultra account has a handy debit card that makes it convenient to pay for your everyday purchases while the sweep function can keep it topped up.

    Price   8 / 10

    Features   8 / 10

    Customer service   6 / 10

    Convenience   5 / 10

    Trust   7 / 10

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Chau (QLD), reviewed 4 months ago

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UBank

UBank USaver with Ultra Transaction Account savings account review

Overall rating   10 / 10

Great service and the best interest rate around

I love the Ubank Ultra account, it allows me to get the best interest rate on the market, there are very few limitations or conditions and the online service and customer support has always been helpful and timely. It's a great product and I would...
Full review

I love the Ubank Ultra account, it allows me to get the best interest rate on the market, there are very few limitations or conditions and the online service and customer support has always been helpful and timely. It's a great product and I would strongly recommend it.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Kristen (NSW), reviewed 4 months ago

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UBank

UBank USaver with Ultra Transaction Account savings account review

Overall rating   8 / 10

Unbeatable savings ability.

It's a bit weird dealing with a bank with no shop front- but the savings from no fees and high interest more than make up for it.
Full review

It's a bit weird dealing with a bank with no shop front- but the savings from no fees and high interest more than make up for it.

    Price   10 / 10

    Features   10 / 10

    Customer service   7 / 10

    Convenience   6 / 10

    Trust   8 / 10

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Wen (ACT), reviewed 4 months ago

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UBank

UBank USaver with Ultra Transaction Account savings account review

Overall rating   9 / 10

Best online saver interest and cool account sweep

UBank has the best saver interest rate going at the moment. The account sweep feature is so convenient and an industry first.
Full review

UBank has the best saver interest rate going at the moment. The account sweep feature is so convenient and an industry first.

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Lukasz (NSW), reviewed 4 months ago

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UBank

UBank USaver savings account review

Overall rating   8 / 10

Efficient, hassle free & competitive interest rate

I thoroughly recommend UBank to my friends, of a similar age bracket. It is always competitive in offering one of the best interest rates on the market. It's login system is easy to use - your login is your email address and not another...
Full review

I thoroughly recommend UBank to my friends, of a similar age bracket. It is always competitive in offering one of the best interest rates on the market. It's login system is easy to use - your login is your email address and not another account number that you are required to remember or look up. You do not receive paper statements that are a waste of time in filing. If you wish to access a hard copy of your statement, you can print it off online. Ubank does not send unnecessary emails or letters informing you of changes in the system. You can access these if you wish to online. Unlike my St George account, I have never been blocked from using Ubank's online services by "System Maintenance" Ubank has a "Savings Goal" application that helps you to make personal goals and track process. The Usaver account displays its debits/credits in graph format, giving the user a pictorial representation of their savings achievements. The site is relatively easy to use, an account is easy to set up and it is hassle free for those who want to save money and not be constantly contacted by their bank.

    Price   7 / 10

    Features   8 / 10

    Customer service   6 / 10

    Convenience   8 / 10

    Trust   5 / 10

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Nikki (NSW), reviewed 4 months ago

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UBank

UBank USaver with Ultra Transaction Account savings account review

Overall rating   9 / 10

Competitive interest rate and easy to use

This bank has fantastic interest rates to build on my savings. I particularly like the sweep feature so that I am always be earn the maximum interest. The graphs to show spending and saving are very helpful for budgeting. The internet banking...
Full review

This bank has fantastic interest rates to build on my savings. I particularly like the sweep feature so that I am always be earn the maximum interest. The graphs to show spending and saving are very helpful for budgeting. The internet banking website is user friendly, and the one time I called for support the Ubank employee was polite and helpful. I can't think of any negatives and I have already recommended the products to friends and family.

    Price   10 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   9 / 10

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Kim (QLD), reviewed 4 months ago

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UBank

UBank USaver savings account review

Overall rating   8 / 10

Easy to use and a fun way to track your spending

I love UBank as I can track my spending, set saving goals, break my savings into separate pools with ease and I now have access to many ATM's throughout Australia with the new card provided to me. Who doesn't love snappy graphics and charts?!
Full review

I love UBank as I can track my spending, set saving goals, break my savings into separate pools with ease and I now have access to many ATM's throughout Australia with the new card provided to me. Who doesn't love snappy graphics and charts?!

    Price   8 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   10 / 10

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Erin (NSW), reviewed 5 months ago

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UBank

UBank USaver with Ultra Transaction Account savings account review

Overall rating   10 / 10

Flexible accounts, great interest, secure banking

I have not found a Bank either branch or on line that has a better style account that pays the same or better interest than Ubank, as well as being flexible and allowing me to do all that I need with a Bank, etc. paying accounts on line or...
Full review

I have not found a Bank either branch or on line that has a better style account that pays the same or better interest than Ubank, as well as being flexible and allowing me to do all that I need with a Bank, etc. paying accounts on line or purchasing goods on line and with their Visa debit card I can shop in store and withdraw cash when ever I need it from various ATM's. As well as all that their security is second to none I feel so safe doing my online banking with Ubank. I'll stay with Ubank until some one comes up with something better, if that ever happens which I doubt.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Harvey (VIC), reviewed 5 months ago

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UBank

UBank USaver savings account review

Overall rating   7 / 10

Good for those who don't plan to change details

Savings account has no fees which is great, but if you are one to change your mobile number often, or move house then this is not a bank for you. Without mobile phone sms activated you cannot do anything with your money. They need to send a letter...
Full review

Savings account has no fees which is great, but if you are one to change your mobile number often, or move house then this is not a bank for you. Without mobile phone sms activated you cannot do anything with your money. They need to send a letter to your home address and if you have since moved.. then forget it!! grr

    Price   10 / 10

    Features   10 / 10

    Customer service   9 / 10

    Convenience   0 / 10

    Trust   9 / 10

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Anonymous (VIC), reviewed 6 months ago

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UBank

UBank USaver savings account review

Overall rating   8 / 10

Wonderful service when experiencing problems

Bank has always given me great service and has spent time on the phone when experiencing problems with accessing the account through the internet which turned out to be a provider problem.
Full review

Bank has always given me great service and has spent time on the phone when experiencing problems with accessing the account through the internet which turned out to be a provider problem.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Merle (NSW), reviewed 6 months ago

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UBank

UBank savings account review

Overall rating   5 / 10

A bit of a rip off

UBANK had great interest rates but without me noticing I am hardly getting any interest now and switching to another account with them still gives very little interest. You only get 2.25 if you have more than $5000 saved.
Full review

UBANK had great interest rates but without me noticing I am hardly getting any interest now and switching to another account with them still gives very little interest. You only get 2.25 if you have more than $5000 saved.

    Price   4 / 10

    Features   5 / 10

    Customer service   -1 / 10

    Convenience   10 / 10

    Trust   6 / 10

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Elle (QLD), reviewed 6 months ago

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UBank

UBank savings account review

Overall rating   10 / 10

Great for internet-savvy users

I like this bank and savings account as it's given me the discipline to really begin to save now that I'm working after graduating last year. The online system makes it easy to use too!
Full review

I like this bank and savings account as it's given me the discipline to really begin to save now that I'm working after graduating last year. The online system makes it easy to use too!

    Price   10 / 10

    Features   10 / 10

    Customer service   5 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Gemma (QLD), reviewed 6 months ago

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UBank

UBank USaver SMSF savings account review

Overall rating   9 / 10

Great interest rate at call and 24/7 access online

After providing information to open an account - this was time consuming for a SMSF- it has been a great time saver. Currently getting 4.02 interest on an at call account. With all transactions being online it is a great timesaver. I would...
Full review

After providing information to open an account - this was time consuming for a SMSF- it has been a great time saver. Currently getting 4.02 interest on an at call account. With all transactions being online it is a great timesaver. I would recommend this product to anyone with a SMSF.

    Price   9 / 10

    Features   -1 / 10

    Customer service   8 / 10

    Convenience   10 / 10

    Trust   9 / 10

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Cherese (VIC), reviewed 6 months ago

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UBank

UBank USaver savings account review

Overall rating   3 / 10

Great at first, but after 6 months not worth it!

At first I was very happy with Ubank as they offered a great interest rate, however they very quickly decreased that interest rate and what got me the most is they only update you of the decreased interest rate on the day that you are supposed to...
Full review

At first I was very happy with Ubank as they offered a great interest rate, however they very quickly decreased that interest rate and what got me the most is they only update you of the decreased interest rate on the day that you are supposed to receive the interest. They have decreased our interest 3 times in less than a year. We have only ever wanted to remove money once and because we had changed our phone number we couldn't get the code to transfer money. We called Ubank and the advisor was extremely rude and unhelpful and said that there was nothing we could do and that we needed to go into a post office to get a form to change our details. We went into the post office and they knew nothing about it. After another call to Ubank we found out we were required to print a form from the Ubank site and then take it to a post office to change our details. It could have been so much easier if it was explained properly the first time. Also I don't believe it should even be that difficult in this day and age. We are looking to changing our savings account as with the decreased interest rate its no longer worth it.

    Price   5 / 10

    Features   5 / 10

    Customer service   1 / 10

    Convenience   1 / 10

    Trust   1 / 10

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Madison (QLD), reviewed 6 months ago

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Savings account comparisons on MozoRates updated daily

  • ING DIRECT Savings Maximiser

    ING DIRECT Savings Maximiser

    • No ING DIRECT fees
    • You could get a great variable rate every month, no matter how many times you withdraw
    • Anytime, anywhere banking with mobile app and 24/7 Australian call centre

    special rate*

    3.50% (for $0 to $100,000)

    For customers who also have an Orange Everyday and deposit their pay of $1,000+ each month.

    standard interest rate

    2.25%(for $0 and over)

    account fee per month

    $0.00

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    • You could get a great variable rate every month, no matter how many times you withdraw
    • Anytime, anywhere banking with mobile app and 24/7 Australian call centre
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    • Special rate conditions: For customers who also have an Orange Everyday and deposit their pay of $1,000+ each month.
    • Access: Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions: Must link to a transaction account
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  • Bankwest Hero Saver

    Bankwest Hero Saver

    • No account keeping fees
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    • 100% secure application process

    special rate*

    3.35% (for $0 to $250,000)

    Minimum deposit of $200 excluding interest and no withdrawals in the month

    standard interest rate

    0.01%(for $0 to $5,000,000)

    account fee per month

    $0.00

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    • No transaction fees
    • 100% secure application process
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    8.2

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  • ME Online Savings Account

    ME Online Savings Account

    • 5% Cash Back on every PayPass purchase for the first 6 months if you open your first EveryDay Transaction Account by 30 June 2015.
    • No monthly account keeping fees
    • Debit MasterCard and no fees to access over 3,000 ATMs Australia-wide

    special rate*

    3.20% (for $0 to $250,000)

    Bonus rate for the first 4 months if you link to an ME Bank EveryDay Transaction Account within the first 14 days

    standard interest rate

    2.25%(for $0 and over)

    account fee per month

    $0.00

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    • 5% Cash Back on every PayPass purchase for the first 6 months if you open your first EveryDay Transaction Account by 30 June 2015.
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    • Special rate conditions: Bonus rate for the first 4 months if you link to an ME Bank EveryDay Transaction Account within the first 14 days
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  • ANZ Online Saver

    ANZ Online Saver

    • Exclusive online bonus interest offer for 3 months. Limited time only.
    • No minimum balance
    • Interest calculated daily and paid monthly

    special rate*

    3.10% (for $0 and over)

    Bonus rate for the first 3 months

    standard interest rate

    2.00%(for $0 and over)

    account fee per month

    $0.00

    Go to site
    • Exclusive online bonus interest offer for 3 months. Limited time only.
    • No minimum balance
    • Interest calculated daily and paid monthly
    Product info
    • Special rate conditions: Introductory bonus rate for 3 months from account opening
    • Access: BPay, Phone banking, Internet banking
    • Minimum balance: $0.00
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    7.8

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  • HSBC Serious Saver

    HSBC Serious Saver

    • No monthly fees
    • No minimum deposit
    • Apply online in under 10 minutes

    special rate*

    2.75% (for $0 to $1,000,000)

    No withdrawals in the month. Bonus rate for first 4 months, reverting to 2.10% bonus rate after

    standard interest rate

    0%(for $0 and over)

    account fee per month

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    • Special rate conditions: No withdrawals in the month. Bonus rate for first 4 months, reverting to 2.10% bonus rate after
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