No interest, only for transaction. Yet it has the auto swept function to top up the balance to $100 mark. And it also auto swept for the transaction greater than $100.
Excellent product. No account or international transaction fees. The sweep feature allows you to specify how much money you would like to keep in your transaction account, with whatever amount is over that automatically put into your savings account. It also calculates how much your daily spend should be, and automatically adjusts that if you spend over or under. The only downside is that there is not PayID yet.
uBank is a subsidiary of NAB and is an online only bank. They've consistently offered the best interest rates and are really great at communicating changes/eligibility requirements for bonus interest etc. Very happy with them!
The sweep feature is brilliant, never have to worry about moving money about. The card is not terrible looking like some other banks. No international fees is good. Never have to go to a branch. Good!
I like this no frills bank that charge no fees and extras of clients. It does not provide physical services (atm or branch and hence my rating of 7 for convenience) but in this day and age, that's slowly phasing out anyway and a lot more is required of credit cards and online payment. It does what I need it to do.
I like the interest rates which include a bonus saver account. I can also access my account whenever I need to. I do not have to wait for my money to be transferred out of Ubank and into another account, which can take up to 2 days. Almost everything can be done online which makes it very convenient, no waiting in cues. Very helpful Staff.
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Mozo gives you the inside story on the best banking, energy and insurance products as rated by thousands of real customers around Australia. We don't make subjective judgments, nor do advertisers influence our ratings. Although our reviews may be moderated to improve quality standards, they are moderated independently of any of Mozo’s commercial relationships.