ubank launches new bill paying 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.
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Everyday Options Account
$0.00
Apple Pay, Google Wallet, PayID
0.01% p.a.
Enjoy 0% foreign currency conversion fees on Visa Debit card purchases. Plus make an eligible purchase using your linked Visa Debit card to earn cashback at participating merchants. $0 monthly account keeping fees & the option to open up to 9 sub-accounts. Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL 229882 Australian Credit Licence 229882). The SUNCORP brand and Sun Logo are used by Suncorp Bank (Norfina Limited) under licence and Suncorp Bank is not part of the Suncorp Group.
CompareCompareEveryday Options Account
Enjoy 0% foreign currency conversion fees on Visa Debit card purchases. Plus make an eligible purchase using your linked Visa Debit card to earn cashback at participating merchants. $0 monthly account keeping fees & the option to open up to 9 sub-accounts. Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL 229882 Australian Credit Licence 229882). The SUNCORP brand and Sun Logo are used by Suncorp Bank (Norfina Limited) under licence and Suncorp Bank is not part of the Suncorp Group.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet, PayID
- interest rate
- 0.01% p.a.
- ATM networks
- Suncorp
- What kind of card?
- Visa Debit
- Interest rate
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Balances from $1: 0.01% p.a.
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Glide Account
$0.00
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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.
CompareCompareGlide Account
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.
- account fee
- $0.00
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- MyState
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Mozo experts choice awards won:
- Exceptional Everyday Account - 2024
Orange Everyday
$0.00
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The everyday bank account that could pay you for paying bills. Get 1% cashback on eligible utility bills (up to $100), $0 ING international transaction fees, and up to 5 rebated ATM withdrawals a month here or overseas (T&Cs apply) and no monthly fees to pay. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
CompareCompareOrange Everyday
The everyday bank account that could pay you for paying bills. Get 1% cashback on eligible utility bills (up to $100), $0 ING international transaction fees, and up to 5 rebated ATM withdrawals a month here or overseas (T&Cs apply) and no monthly fees to pay. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
- account fee
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- 0% p.a.
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- What kind of card?
- Visa Debit
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- Fee free transactions
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Everyday Global Account
$0.00
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Enjoy $0 monthly account fees and international fees, with no minimum deposit or balance requirements. Buy, hold and spend in 10 currencies (AUD included) and earn 2% cashback for purchases under $100 (T&C’s apply). Mozo's Experts Choice 2024 winner for Exceptional Everyday Account.^
CompareCompareEveryday Global Account
Enjoy $0 monthly account fees and international fees, with no minimum deposit or balance requirements. Buy, hold and spend in 10 currencies (AUD included) and earn 2% cashback for purchases under $100 (T&C’s apply). Mozo's Experts Choice 2024 winner for Exceptional Everyday Account.^
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- What kind of card?
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^See information about the Mozo Experts Choice Bank Account Awards
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