Up is a neobank; shaking things up for Australians who love to bank from their smartphones! Its Everyday Account comes with no account or network ATM fees, unlimited free transactions via its iOS or Android app and a round up feature to help you boost your savings balance.
Let’s start by talking about what makes Up’s Everyday account a little bit different: it’s round-up feature. This feature works by rounding up each purchase you make with the linked debit card to the nearest dollar and transferring the difference to your linked Up Saver Account. This can be great for making incremental additions to your savings, which may add up over the long run and make a real difference to your stash.
On top of this neat feature, the account comes with a number of other perks, such as unlimited free transactions via the iOS or Android app. The account also has no minimum balance required to open it and can be linked up with a BPAY account for making payments.
Plus, the account comes with no ongoing fees and no network ATM fees, so you won’t have some monthly fee slowly chipping away at your hard-earned cash. It could even make a handy travel money companion, as there are zero international ATM withdrawal fees plus a 0% foreign exchange commission.
Anyone looking for an alternative option to the big four banks, which brings a little bit of innovation to the field may find Up to be the bank for them. Thanks to the round up feature, this account might also be perfect for you if you want to start saving your spare pennies without even thinking about it.
Up is a digital only bank, which means there's no branch access with this account - you can only access your account through the app. So if you do like to have the option of face-to-face customer service, this one might not be for you.
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Balances from $0: 0.00% p.a. |
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n/a |
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$0.00 |
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n/a |
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Unlimited eftpos, debit, ATM, and banking app transactions using the Up iOS or Android app. |
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$0.00 |
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Bendigo Bank |
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$0.00 |
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n/a |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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0% |
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$0.00 monthly |
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$1.00 |
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$0.00 |
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$1,000.00 |
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no |
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yes |
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no |
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no |
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no |
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yes |
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no |
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Bank and saving account only accessible through iOS or Android app. $10 fee for plastic debit card. |
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Optional roundup feature automatically rounds purchase to the nearest whole dollar and transfers difference to linked Saver Account. |
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none |
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none |
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none |
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$0.00 |
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$0.00 |
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0% |
Apple Pay, Google Wallet, PayID, Samsung Pay
I thought it was good when I signed it up before my oversea trip to Europe. It start ok; I event referred a friend to join. but there were few times my purchase were declined event it was a small amount (including an international brand hotel payment). then I informed UP that I was in oversea and asked them don’t block my transactions. But when I was making a major purchasing it was blocked again. I tried to contact UP, after one hour waited on line, I was told that they had finished for the day, and asked me to contact them next day. Because I had transferred all my money to UP for this purchase and I couldn’t transfer it out (had to wait to next day). And I had not money to finalise my purchase. As a result I had not choice but loss A$2000 and used another way of payment.
Read full reviewI thought it was good when I signed it up before my oversea trip to Europe. It start ok; I event referred a friend to join. but there were few times my purchase were declined event it was a small amount (including an international brand hotel payment). then I informed UP that I was in oversea and asked them don’t block my transactions. But when I was making a major purchasing it was blocked again. I tried to contact UP, after one hour waited on line, I was told that they had finished for the day, and asked me to contact them next day. Because I had transferred all my money to UP for this purchase and I couldn’t transfer it out (had to wait to next day). And I had not money to finalise my purchase. As a result I had not choice but loss A$2000 and used another way of payment.
This bank made me care about banking! My previous bank was just a place my pay went in and I withdrew it. Up has lower fees, higher interest, and helps me learn about managing money and meeting savings goals. The app is very slick and easy to use. Customer support is lovely - I once had to replace a stolen card and they were very prompt and helpful. 10/10
Read full reviewThis bank made me care about banking! My previous bank was just a place my pay went in and I withdrew it. Up has lower fees, higher interest, and helps me learn about managing money and meeting savings goals. The app is very slick and easy to use. Customer support is lovely - I once had to replace a stolen card and they were very prompt and helpful. 10/10
Very quick on answering any questions and very good on bank fees to
Read full reviewVery quick on answering any questions and very good on bank fees to
Because there's no feed up is an amazing bank I'm glad I changed
Read full reviewBecause there's no feed up is an amazing bank I'm glad I changed
Pros: No Fees: UP Bank is known for its fee-free banking, which includes no monthly account fees, no international transaction fees, and no ATM withdrawal fees at over 10,000 ATMs nationwide. High-Interest Savings Account: UP offers a competitive interest rate on its savings account, which can be appealing for those looking to maximize their savings. Innovative Features: The bank provides innovative features such as real-time transaction notifications, round-up savings, and budgeting tools, which can help customers manage their finances more effectively. Simple and User-Friendly App: UP Bank's app is often praised for its simplicity and user-friendly interface, making it easy for customers to navigate and manage their accounts. Customer Service: Many users report positive experiences with UP Bank's customer service, noting responsiveness and helpfulness. Cons: Limited Product Range: UP Bank primarily focuses on transaction and savings accounts, so customers looking for additional financial products like credit cards, personal loans, or mortgages may need to look elsewhere. Online-Only: While the lack of physical branches helps keep costs down, some customers may prefer the option of in-person banking for certain transactions or assistance. Limited ATM Network: Although UP Bank doesn't charge ATM withdrawal fees, it relies on the RediATM network, which may have fewer ATMs in some areas compared to larger banks. Tech Reliability: As with any online banking platform, occasional technical issues may arise, which can be frustrating for customers who rely heavily on digital banking services. Limited Accessibility: UP Bank's services may not be accessible to everyone, especially those who prefer traditional banking methods or individuals without reliable internet access.
Read full reviewPros: No Fees: UP Bank is known for its fee-free banking, which includes no monthly account fees, no international transaction fees, and no ATM withdrawal fees at over 10,000 ATMs nationwide. High-Interest Savings Account: UP offers a competitive interest rate on its savings account, which can be appealing for those looking to maximize their savings. Innovative Features: The bank provides innovative features such as real-time transaction notifications, round-up savings, and budgeting tools, which can help customers manage their finances more effectively. Simple and User-Friendly App: UP Bank's app is often praised for its simplicity and user-friendly interface, making it easy for customers to navigate and manage their accounts. Customer Service: Many users report positive experiences with UP Bank's customer service, noting responsiveness and helpfulness. Cons: Limited Product Range: UP Bank primarily focuses on transaction and savings accounts, so customers looking for additional financial products like credit cards, personal loans, or mortgages may need to look elsewhere. Online-Only: While the lack of physical branches helps keep costs down, some customers may prefer the option of in-person banking for certain transactions or assistance. Limited ATM Network: Although UP Bank doesn't charge ATM withdrawal fees, it relies on the RediATM network, which may have fewer ATMs in some areas compared to larger banks. Tech Reliability: As with any online banking platform, occasional technical issues may arise, which can be frustrating for customers who rely heavily on digital banking services. Limited Accessibility: UP Bank's services may not be accessible to everyone, especially those who prefer traditional banking methods or individuals without reliable internet access.
Spend Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, Fitbit Pay, Garmin Pay
0% p.a.
Glide Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit Pay, Garmin
0% p.a.
