They claim great interest rates however competitors are offering double and triple what they pay. Lodged a dispute for $4000 dollars and they were unable to get it back - they couldn't even give me an answer to what they did to try and recover funds - had to go through the ombudsman to find out they asked the other account for the funds back. Awful customer service - switched to Macquarie and much happier.
Bad admin, call waiting. ID verification process, unclear on half the information provided in their communication. Closing the account is a nightmare. You'd rather give up. Which is probably what they want.
The interest rate is solid, considering what other banks are offering. That said, reductions seem to come in more often than the RBA cuts.
I like this bank because it is so easy to sign up to and easy to use the app. The bonus interest is really good as well.
Interest rate is better than most banks, while there is a requirement to transfer a minimum amount each month to access the higher interest rate, there is no requirement to keep it there.
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.
Great for my emergency savings account. Online setup and easy access is very convenient. Great interest rates.
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.
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Minimum deposit of at least $250.
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.
Minimum deposit of $200 and no withdrawals in the month.
Bonus rate for first 3 months, reverting to 0.15% rate after
Increase balance by at least $300 in the month
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