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UBank Savings account reviews

Overall rating
8.5/10
Price
9.1/10
Features
7.6/10
Customer service
8.0/10
Convenience
7.8/10
Trust
8.3/10
Based on 681 reviews as rated by the Mozo community.

Recent UBank savings account reviews

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  • UBank USave with USpend Transaction Account review

    Overall rating   8 / 10
    Competitive rates and great bank to be with.

    Before the interest rate cuts by the RBA, they were in the top 5 with about 3+% given to savers on their variable monthly interest earnings. What attracted me to Ubank is that the terms are really easy to follow. They don't make you spend certain amounts a month to qualify for interest or ask you to deposit a lot of money either. I'm a big saver and being encouraged to save more is great but I like to be flexible and they give me that. The website is easy to use and the UI is very easy to understand. One of the most underrated things they have is that they allow you to name your bank accounts how you wish, it's a nice touch in my opinion. Where they fall off is the sweeper function they have on their system but I have been saved by it before. Another negative is the fact it's all online, so physical branches mean having to travel but in saying that, they would not be able to offer such great rates if they had a more physical business model. I've had no issue with withdrawing cash as they don't charge for using competitors ATM's but if you wish to speak to someone, you have to queue up on the phone. Otherwise, the staff are friendly. The app is also easy to use and they makes it really easy to keep a track of your savings whilst encouraging you to add long term goals. One other positive I can note is that I have no issue transferring money between accounts. With other banks I've used before, it could take 2-3 business days, but with Ubank normally takes about 1.

    Price
    9 / 10
    Features
    3 / 10
    Customer service
    10 / 10
    Convenience
    6 / 10
    Trust
    8 / 10
    Less
    Obie, Victoria, reviewed about 24 hours ago
  • UBank Savings Account review

    Overall rating   5 / 10
    Competitive rates but lack of personal service.

    Competitive rates, but can't access physical branch. Also, the sweep thing is annoying.

    Price
    8 / 10
    Features
    3 / 10
    Customer service
    6 / 10
    Convenience
    0 / 10
    Trust
    6 / 10
    Less
    Danielle, South Australia, reviewed 11 days ago
  • UBank Savings Account review

    Overall rating   8 / 10
    Very easy to use and simple for what it is.

    Very easy to use and simple for what it is. Great online savings account

    Price
    8 / 10
    Features
    8 / 10
    Convenience
    9 / 10
    Trust
    6 / 10
    Less
    Samuel, Victoria, reviewed 24 days ago
  • UBank USave with USpend Transaction Account review

    Overall rating   8 / 10
    Premiums is still competitive

    Interest rate keeps dropping.

    Price
    8 / 10
    Features
    0 / 10
    Customer service
    8 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Meilee, New South Wales, reviewed about 1 month ago
  • UBank USave with USpend Transaction Account review

    Overall rating   4 / 10
    Lacks efficiencies offered by other online banks.

    UBank has not implemented New Payments Platform (NPP). For an online bank to not offer the facilitation of faster, more convenient banking is a real negative. No real-time transfers, no PayID, no Osko. I encourage UBank to make this happen as soon as possible.

    Price
    8 / 10
    Features
    0 / 10
    Customer service
    7 / 10
    Convenience
    2 / 10
    Trust
    6 / 10
    Less
    Craig, New South Wales, reviewed 4 months ago
  • UBank USave with USpend Transaction Account review

    Overall rating   8 / 10
    Great account with high interest rates

    Excellent account with one of the higher interest rates I've encountered. Being able to set savings goals through the app is helpful, and the fact that UBank is backed by one of the big banks is very reassuring. The Sweep function is useful but it would be good if there were was an option to turn it off.

    Price
    9 / 10
    Features
    7 / 10
    Customer service
    8 / 10
    Convenience
    9 / 10
    Trust
    8 / 10
    Less
    Matt, New South Wales, reviewed 5 months ago
  • UBank USave with USpend Transaction Account review

    Overall rating   10 / 10
    Good interest rates and money available on call.

    UBank offer a good interest rate and your money is available on call.

    Price
    10 / 10
    Features
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Maria, New South Wales, reviewed 6 months ago
  • UBank USave with USpend Transaction Account review

    Overall rating   9 / 10
    Best interest rate online savings account.

    Best interest rate savings account, very convenient and easy to use.

    Price
    7 / 10
    Features
    8 / 10
    Customer service
    5 / 10
    Convenience
    8 / 10
    Trust
    8 / 10
    Less
    Agnieszka, Queensland, reviewed 7 months ago
  • UBank USave with USpend Transaction Account review

    Overall rating   9 / 10
    Better than the major banks.

    UBank offers the highest interest for savings account but sometimes it's hard to get customer service without having a physical branch.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    8 / 10
    Trust
    8 / 10
    Less
    Reginald, Western Australia, reviewed 7 months ago
  • UBank USave review

    Overall rating   10 / 10
    Great service and ease of use.

    Always had great experience with Ubank. Only con was when they added cards to accounts. I liked the fact it was purely an online bank originally. But apart from that, it's been great!

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Jennifer, Queensland, reviewed 7 months ago
  • UBank USave with USpend Transaction Account review

    Overall rating   10 / 10
    Highest interest rates for savings accounts.

    Ubank have no account keeping fees and have the highest interest rates for saver accounts in the market (excluding banks with introductory 1-3 month boosted interest rates).

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Michael, New South Wales, reviewed 7 months ago
  • UBank USave review

    Overall rating   9 / 10
    Outstanding online banking services!

    The customer service within the branch is fantastic. The staff who greet you are incredibly knowledgable and always know where to direct you and aim to get you served as soon as possible. The online banking portal "Netbank" is simple to use and incredibly cohesive. I have multiple accounts and travel cards and they have made it so easy for funds to be transferred between each of these.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    7 / 10
    Convenience
    8 / 10
    Trust
    9 / 10
    Less
    Jacqueline, New South Wales, reviewed about 4 years ago
  • UBank USave SMSF review

    Overall rating   7 / 10
    Competitive interest rate

    Interest rate is great ensures that I keep money in the bank. Can access help through partner bank nab if needs be. Encourages saving

    Price
    7 / 10
    Features
    5 / 10
    Customer service
    5 / 10
    Convenience
    8 / 10
    Trust
    8 / 10
    Less
    Laura, Western Australia, reviewed about 4 years ago
  • UBank USave with USpend Transaction Account review

    Overall rating   7 / 10
    Competitive rates of return and easy to use

    They have had brilliant rates (when interest rates were high) but they aren't quite as competitive at the moment. Nonetheless, they give better returns than the big 4, and the online interface is pretty easy to use.

    Price
    6 / 10
    Features
    2 / 10
    Customer service
    6 / 10
    Convenience
    3 / 10
    Trust
    8 / 10
    Less
    Joanna, South Australia, reviewed over 4 years ago
  • UBank USave with USpend Transaction Account review

    Overall rating   8 / 10
    High interest rates, but online only

    Best savings account with high interest rates and no frills service.

    Price
    10 / 10
    Features
    8 / 10
    Customer service
    8 / 10
    Convenience
    5 / 10
    Trust
    8 / 10
    Less
    Charn, New South Wales, reviewed over 4 years ago
  • Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

    Savings account comparisons on Mozo - rates updated daily

    • Bonus Saver Account

      Maximum rate
      1.75% p.a. (for $0 to $250,000)
      standard interest rate
      0.15% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yesup to $250,000

      Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.

      Promoted
    • Life Saver

      Maximum rate
      2.00% p.a. (for $0 and over)
      standard interest rate
      0% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yesup to $250,000

      Account balance must increase each month

      Promoted
    • High Interest Savings Account

      Maximum rate
      2.25% p.a. (for $0 to $250,001)
      standard interest rate
      0.80% p.a.(for $0 to $250,001)
      Govt Deposit Guarantee
      Yesup to $250,000

      Bonus rate for the first 4 months from account opening

      Promoted
    • Serious Saver

      Maximum rate
      2.10% p.a. (for $0 to $1,000,000)
      standard interest rate
      0% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yesup to $250,000

      No withdrawals in the month. Bonus rate for first 4 months, reverting to 0.15% bonus rate after*

      Promoted
    • Growth Saver Account

      Maximum rate
      1.75% p.a. (for $0 and over)
      standard interest rate
      0.15% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yesup to $250,000

      Grow your balance by $200 or more and make no more than one withdrawal in the month.

      Promoted

    Want more? Compare all 233 savings accounts in the Mozo comparison engine.

    Compare more savings accounts

    About Mozo community reviews

    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.