I’ve been trying to access my money since last week without success. After waiting a long time to speak with them on the phone, they said I should verify my I.D., which in my opinion should’ve been done before they accept my money deposits. I tried online and didn’t worked. They told me to go on a Aus Post to verify there and after they receive the verification I would get access. I went one week ago and sent the verification through express post which is incredible fast and after calling them twice this week they said it didn’t arrived there yet. I really need MY money to pay my bills and they’re locking my account. Ombudsman is being contacted now to take legal actions.
I am very happy with the interest rates offered and the quick, friendly customer service. The interface is basic, and could use some improving, but that is not the reason I am banking with them and it is perfectly efficient.
Probably the most poor customer service I've seen.
Good rates, but on average if you actually need to contact them, of the 10 attempts I've had the least I've spent waiting is 50 minutes. Normally 1-2.5 hours. And going on the duration I'm willing to wait obviously these are pretty urgent situations. I have mentioned this every time as well and they're a Big Bank (NAB) pretending to be a small company who doesn't learn from their mistakes. Others preferred.
Long-term customer here, and not looking elsewhere. No need to. Supremely satisfied with my customer experience over the years. UBank has only a digital platform. No ATMs. None needed, as you can conveniently link your UBank account/s with a third party's physical branch. Money may be transferred at your discretion. The linked VISA debit card is convenient. Money sweeps can be configured so you don't need to worry about available balance on the no interest debit account linked to the card and its use. Customers who are mindful of their qualifying monthly savings are rewarded with a high, competitive interest rate. The default interest rate is competitively placed too. Thinking of UBank? All I can say is, "UBeaut!"
UBank is my favourite bank for high interest savings accounts as they have one of the highest interest rates in the market, with no account keeping fees and have a very easy and reliable website and mobile app to manage money transfers. Their customer service is also very efficient and reliable in providing answers and excellent advice.
I often recommend UBank to friends and family as a great online savings account. Always has one of the highest interests rates, only being beaten by banks offering a short term promotional interest rate.
No frills and high interest for a savings account.
I couldn’t recommend Ubank enough. Before joining up I had been a long-term customer of CommBank, but the constant fees and patchy customer service put me off. You’d think that being a customer from age four you’d be entitled to some benefits but unfortunately that’s not the case. The best part about Ubank is that it not only has one of the highest interest rates compared to other banks but it’s also incredibly easy to maintain. All that you need to do to get the bonus interest rate is deposit $200 per month, and that’s into either the transaction account or the savings account. This makes it perfect as a primary savings account that you want to build fast or as a secondary savings account that you’re happy to let grow steadily. This is compared to something like ING, which I’ve also tried banked with, but the stress of having to deposit $1000 in your savings account in order to reach their highest interest rate (on top of having to make 5 purchases with one of their cards) sounds ludicrous compared to that easy $200. The sweeps function allows you to set up an automatic transfer of any extra money from your transaction account so that you’re making full use of your savings account, but to be honest for my purposes I don’t use it that much. The website and app are also very no frills, which might be a downside to some. But on the plus side, you can withdraw money from a NAB or any of the other big four bank ATMs and won’t be charged any fees. The biggest downfall for me was in the initial set up stage, which requires you to prove your identity and which can either be done online or with a form that you hand in to AusPost. I can see how this would feel like a hindrance compared to the other online banks and it’s something that confused me when I first signed up, but really it’s fairly easy to fulfil and pretty straightforward from then on.
Give a great interest rate on my savings and are backed by NAB for added security. They are easy to contact and always very helpful the few times I have needed to seek advice. I have recommended this bank to many relatives and friends who are also impressed by Ubank.
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Savings account comparisons on Mozo - rates updated daily
18-29 years old
3.00% p.a.(for $0 to $30,000)
standard interest rate
0.40% p.a.(for $0 and over)
Govt Deposit Guarantee
Yesup to $250,000
Make 5 transactions/month on linked Westpac Choice account and min 1 deposit and higher balance than at the beginning of the month in Life savings account.
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