ubank launches new bill paying account

Man excited about ubank's new Bills Account

It’s not often we see a new trend in bank accounts, but this could be one to watch. Ubank, Australia’s first homegrown digital bank, has just launched its new Bills Account. 

Designed to help Aussies pay bills, this account acts like a dedicated transaction account alongside your Spend and Save accounts. Simply stash the cash you need to pay monthly bills then spend knowing you won’t get caught short. 

Banks have been thinking of ways to bust bills for a while. Some of the snazziest features from digital banks include bill reminders, trackers, and automatic payments. Ubank’s Bills Account combines all of these and more. 

So, what do you need to know?

Perks of ubank’s Bills Account

Here are some of the useful upsides of ubank’s latest banking feature.

  • Free debit card. The Bills Account comes with a debit card for direct debit bills. Add the debit card to digital wallets like Apple Wallet, Samsung Pay, and Google Pay for extra convenience. 
  • Bill planner. Ubank will track and add up your bills, so you know how much you have to set aside every month. 
  • No ongoing, upfront, or dishonour fees. It can be rare to find a low-fee account, but ubank doesn’t charge ongoing or upfront fees on the Bills Account. Plus, there are no dishonour fees if you accidentally overdraw the Bills debit card.
  • Easy budgeting. Having a dedicated transaction account just for bills can be super convenient – the “set it and forget it” budgeting method. Simply set aside the money you need to meet your bills.
  • Can be used as an offset account. Have a ubank home loan? Your bill-paying account won’t earn you regular savings interest, but it can count as an offset account, which saves your interest on your mortgage. 

There are a few downsides to know. The ubank Bills Account isn’t a shared account, so you can’t split bills with your partner unless you both put money in, and it isn’t a savings account, so you won’t earn interest.

However, for ubank fans, the Bills Account is certainly a perk to check out.

ubank Spend Account
  • No domestic ATM, international ATM or transaction Fees
  • App to help track your spending with insights and predictions
  • 2023 Mozo Experts Choice Exceptional Everyday Account Award Winner

The ubank spend account is an everyday bank account and money management tool all rolled into one. The account has no monthly, online payments, or overseas fees, making it a great option when travelling.

You can use the account with all the main digital payment methods (Apple, Google, Samsung, Fitbit and Garmin Pay) and access ATMs or payments via a physical card.

The app helps you to track upcoming expenses and bills and gives visibility to your spending so that you can avoid any late fees. It also lets you connect accounts with other banks so that you have a single view of your finances.

Plus, this everyday account won a Mozo Experts Choice Bank Account Award in 2023.

For more fintech recs, check out our best budgeting apps roundup. Compare bank accounts in the table below.

Compare savings accounts - last updated 16 April 2024

Search promoted bank accounts below or do a full Mozo database search. Advertiser disclosure
  • Spend Account

    $0.00

    Apple Pay, Google Wallet, PayID, Samsung Pay, Fitbit Pay, Garmin Pay

    0% p.a.

    No monthly fees and no charges for overseas or online payments from ubank. Stay one step ahead with ubank’s spending insights and bill prediction. Apple Pay and Google Pay compatible. Deposits guaranteed up to $250K per customer.

    Compare
    Details
  • Everyday Options

    $0.00

    Apple Pay, Google Wallet, PayID

    0.01% p.a.

    An easy, everyday banking account packed with flexible options to help you spend, budget & save better. $0 monthly account keeping fees & option to add up to 9 sub-accounts.

    Compare
    Details
  • Everyday Global Account

    $0.00

    Apple Pay, Google Wallet

    0% p.a.

    No overseas ATM fees & up to 10 currencies in one account. Switch between currencies instantly 24/7 wherever you are using the mobile app. Receive 2% Cashback on eligible tap and pay transactions under $100. Mozo's Experts Choice 2023 winner for Exceptional Everyday Account.^

    Compare
    Details
  • Glide Account

    $0.00

    Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit Pay, Garmin

    0% p.a.

    Unlimited free internet transactions. Super fast transfers & use Apple Pay, Google Pay and Samsung Pay. No account keeping fees. Access Any Major Bank & MyState Bank ATM Fee-Free.

    Compare
    Details

^See information about the Mozo Experts Choice Bank Account Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.