Launched in 2018 and based in Melbourne, Up Bank is a fully digital mobile approach to banking that is run entirely through your phone. Formed via a collaboration between software company Ferocia and Bendigo Bank, Up aim to provide their customers with an innovative, tech-led banking experience rather than bank-led tech. In the world of new age banking, Up Bank give their users the financial freedom and opportunity to be creative with their bank accounts.
Up Bank operates through an app and issues their customers with a debit card linked to their bank account and they differentiate themselves through their ‘super-powered’ banking approach. Users are able to create several savings accounts called ‘Life Savers’, which have competitive interest rates, no fees and a wide array of budgeting tools including automatic roundups and spending notifications.
Plus it won two 2023 Mozo Experts Choice Awards for Exceptional Everyday Account and Excellent Banking App.
I love this bank because I can categorise my spending and able to find out how much I’ve spent within my fortnightly salary. I love the creativity, art and the friendliness of staff. I absolutely love Saver UP $1000. That savings account is mine for Christmas presents to my family!
They are an online only bank but that works for me, as I don't really deal with physical cash. They have a strong focus on helping you save and budget. Also, every now and again they will reimburse you the price of a coffee when you buy coffee from a store. I believe they want to help everyone. They have no fees. It's a smooth fun way to bank.
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