UBank bank account reviews

Very convenient .

Price   8 / 10

Features   8 / 10

Customer service   8 / 10

Convenience   8 / 10

Trust   8 / 10

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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.

Price   10 / 10

Features   10 / 10

Customer service   10 / 10

Convenience   5 / 10

Trust   10 / 10

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I've been very happy with ubank after a friend recommended it to me. I trust they are looking after my money, of course that's incredibly important to me. I wouldn't mind a bit more contact with them through email from time to time, I think its good for people to be at ease with their financial institution. Would like to see some sort of loyalty program that is obtainable, I think they had an offer once and it was too hard to achieve.

Price   6 / 10

Features   3 / 10

Customer service   7 / 10

Convenience   7 / 10

Trust   8 / 10

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Great everyday account, no fees, they send you a card if you want to withdraw money from an ATM machine. When attached to your savings account it earns you more interest. No minimums and easy to use online.

Price   10 / 10

Features   10 / 10

Customer service   10 / 10

Convenience   10 / 10

Trust   10 / 10

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Ubank has very competitive interest rates. I am very happy with the service overall and what there is on offer. I have consistently received the best rates from them and do most of my banking with them.

Price   7 / 10

Features   7 / 10

Customer service   9 / 10

Convenience   9 / 10

Trust   9 / 10

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Totally unmatched interest rates, very reliable and useful automation features (ASP). Great flexibility with the debit card. Don't know why it took me so long.

Price   10 / 10

Features   10 / 10

Customer service   10 / 10

Convenience   7 / 10

Trust   7 / 10

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Ubank are always competitive and have the best interest rate on the market. I always recommend to friends and family. Very happy.

Price   8 / 10

Features   6 / 10

Customer service   8 / 10

Convenience   8 / 10

Trust   7 / 10

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Great call centre experience. I was hesitant to go with UBank as they don't have any branches. But they proved themselves. I'd support them if they offered other products.

Price   8 / 10

Features   8 / 10

Customer service   7 / 10

Convenience   7 / 10

Trust   7 / 10

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Pretty good interest rate and the website and phone app work... Sort of. Can be buggy at times but my money is safe as it's NAB. Customer service can be quite difficult to get through to as calling them takes at least 15 min on hold. Interest rate used to be the highest in Australia but has since gone downhill. Nevertheless it's still one of the highest around. Debit card is a neat and handy feature and can access NAB/redi ATMs, BPay and direct debit. Unfortunately one drawback is that I can't deposit cash at NAB ATMs - not sure if this was deliberate.

Price   10 / 10

Features   10 / 10

Customer service   4 / 10

Convenience   5 / 10

Trust   10 / 10

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A little messy opening your account over the phone, but persist as they have one of the best interest rates both for savings and loans. You can also "Bill Pay" direct from the account unlike competitor "Internet Saving Accounts." Secure as part of National Bank Australia group.

Price   10 / 10

Features   7 / 10

Customer service   6 / 10

Convenience   5 / 10

Trust   10 / 10

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After getting married at the start of the year, my wife and I did some research on how to best consolidate our separate saving accounts and which products were the best on the market. For the purposes of newly-married, middle-class, young adult workers wanting to save from somewhat scratch (i.e. you don’t have close to $200K in savings!), UBank’s USaver with Ultra was hands down the best option we came across, with the highest interest rate of 4.37% (with at least $2000 deposited into a linked USaver account from an external source) and no account keeping fees. The Ultra account is technically a transaction account that comes with a Visa Debit Card which gives you free access for your money from a rediATM or NAB ATM. You can access your savings directly with no reservations as there is no bonus interest rate based on a “can’t touch this” money policy. You just need to deposit the minimum $2000 per month. The UBank smartphone app also makes for easy online banking. There are just a couple of fine print details that should be clarified. First of all, any money in the Ultra account DOES NOT EARN ANY INTEREST! When you first read the account description and see the high interest rate, you’d assume that you need to transfer all your savings into the Ultra account. But the interest is actually applied to the linked USaver account! Therefore, in order to earn the most amount of interest, you need to keep your savings in the USaver (which is a separate account) and minimise the amount in the actual Ultra account. UBank has introduced a ‘sweeping’ mechanism that rolls over money into your Ultra (transaction) account from its linked USaver when there is less than a certain amount of money in the Ultra. This minimum balance is preset to $500. Below this, your Ultra gets topped up to $500. Vice versa, your excess Ultra money trickles down into the USaver when there is more than a certain amount, which is preset to $2500. The thought here is to make savings money available to you, with the help of a Visa Debit Card which makes cash withdrawals free from certain ATMs. But I think this also helps to encourage spending. If your intention with UBank is just to save as much as you can, don’t use the Visa Debit Card (in fact, you can even cut it up like my wife and I did). In order to maximise interest in your USaver, go to the Accounts settings and lower the sweeps limits of your Ultra account to the lowest possible range of $100-$1000 (cf. preset range of $500-$2500). Secondly, it should be clarified that the Ultra bonus interest rate does not accumulate with the USaver Savings Bonus of 0.70%. If you qualify for the Ultra Bonus, you do not receive the USaver Savings Bonus. This means that if you already have at least $2000/month coming into your Ultra or linked USaver, it is redundant for you to also set up scheduled Automatic Savings Plan (ASP) transfers of $200/month into your USaver thinking that you’ll get the additional USaver Savings Bonus. You won’t!

Price   10 / 10

Features   8 / 10

Customer service   8 / 10

Convenience   8 / 10

Trust   8 / 10

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Easy application online, great investment incentives!

Price   7 / 10

Features   8 / 10

Customer service   5 / 10

Convenience   8 / 10

Trust   7 / 10

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Great savings interest rates - the best around. Despite having an online only presence, getting in touch with them, and setting up an account is a breeze. Having the backing from NAB adds that extra bit of confidence too.

Price   10 / 10

Features   10 / 10

Customer service   10 / 10

Convenience   7 / 10

Trust   10 / 10

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Relevant, convenient, good intereste rates, accessible.

Price   10 / 10

Features   10 / 10

Customer service   10 / 10

Convenience   10 / 10

Trust   10 / 10

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Why wouldn't you bank with Ubank? Make your money work for you. You all need to bank with this mob and reap the benefits.

Price   10 / 10

Features   6 / 10

Customer service   10 / 10

Convenience   10 / 10

Trust   10 / 10

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Different from big four banks.

Price   7 / 10

Features   6 / 10

Customer service   7 / 10

Convenience   6 / 10

Trust   7 / 10

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