Coupled with an existing high interest regular USaver account, the UBank USaver Ultra is a revolutionary new transaction account that takes the hard work out of saving. Customers set a maximum balance for their Ultra account between $500 and $2500, and every night, the automated Sweep function will rollover funds from the normal USaver to the Ultra to keep that balance on target. Similarly, if the balance in the Ultra exceeds the selected maximum amount, Sweep will transfer the excess back into the USaver to help you keep saving. Finally, if the Ultra balance falls below $500, Sweep will automatically top it up with funds from the USaver, so you're never caught short.
Although the standard interest rate of the USaver is 1.81%, any Ultra customer who deposits $200 in one month will earn a bonus 1.06% interest. That takes the total interest on the accounts to 2.87% - a pretty good deal by anyone's standards.
The UBank USaver Ultra scores well on accessibility, as it also comes with a Visa Debit Card and unlimited free RediATM and NAB ATM access.
Who it's good for:
The UBank USaver Ultra is perfect for anyone who is looking for a smart and intuitive banking experience.
Be sure to deposit the $200 minimum, otherwise you will only earn 1.81% interest on your savings account balance.