Your selected savings accounts
One way to maximise your savings is by choosing the right savings account for your needs, and as one of the more competitive banks out there, ubank's savings accounts could be a great choice.
Your selected savings accounts
Started with U Bank some years ago as they had the best interest rate on the market and importantly no fees. It's easily navigated which is a plus as a lot of other online banking systems need a degree just to work them out . Very happy and very safe as U bank is backed by NAB up to a certain amount and I like watching my money grow
I’m very happy with ubank. Clear, polite and to the point communications update me regularly, no ongoing fees.
I have been a loyal and active customer of UBANK for quite some time, but I was shocked and deeply disappointed when my account was suddenly closed without any prior warning or clear explanation. I received an unexpected message informing me that my account had been closed based on UBANK's "general terms." In an attempt to clarify the situation, I immediately contacted their customer service. The operator informed me that the account was permanently closed and, when I requested the reason, I was told to refer to their general terms. After searching for the general terms online, I found a vague and nonsensical explanation stating that my account was closed due to "identity information not provided." This was both puzzling and concerning, as I had never been asked to provide any additional identification or verification, and I have consistently complied with all necessary documentation requests. I called back to request further clarification and proof of the alleged request for identification verification, such as the date of any email, SMS, or letter that could demonstrate this requirement. The operator’s response was still vague, reiterating that the closure was in accordance with their general terms—without providing any concrete evidence or justification. This experience has been the most frustrating and unsettling encounter I've had with a financial institution. It raises serious questions about UBANK's practices, customer transparency, and the security of their clients' funds. If the bank can close accounts without notice or clear explanation, it casts doubt on their reliability and the safety of the money entrusted to them. I strongly advise potential customers to think twice before opening an account with UBANK. Your funds may be at risk, and you could find yourself in a situation where you are unable to access your own money without warning or a valid explanation. I intend to escalate this matter further if no satisfactory resolution is provided and will explore legal avenues to hold UBANK accountable for their actions.
Pros: User-Friendly Interface: UBank's intuitive platform design facilitates easy account management and navigation of financial tools. Competitive Interest Rates: The bank provides attractive interest rates on savings accounts, appealing to those aiming to grow their wealth. Robust Security Measures: UBank employs advanced encryption protocols and two-factor authentication to protect user data and transactions. Responsive Customer Support: The customer service team is known for its promptness and expertise, assisting users effectively. No Account-Keeping Fees: UBank doesn't charge monthly account-keeping fees, reducing overall banking costs. Convenient Mobile App: The mobile app enhances user experience, offering convenient access to banking services on the go. Cons: Limited Physical Presence: As a digital-only bank, UBank lacks physical branches, which may be a drawback for those preferring in-person assistance. Variable Interest Rates: While offering competitive rates, they may fluctuate over time, requiring users to stay informed about changes. Potential Fee Structures: Although UBank aims to minimize fees, certain transactions or account activities might incur charges.
Great bank account. Easily accessible. Fast and efficient transfers. Great customer service. Never had any issues. Would recommend to family and friends.
UBank's Save Account offers very competitive interest rates compared to many other savings accounts on the market. There are no ongoing fees which makes it attractive. The rates and fees are clearly explained on their website. The ability to link your Save Account to a Spend Account for ease of transfers is convenient. There aren't any rewards programs or extra perks. UBank’s customer service is generally good though it’s worth noting they don’t have physical branches. If you’re looking for ATMs or branches, UBank might not suit your needs since they operate fully online. UBank is a subsidiary of NAB which adds a layer of trust.
It is great with great interest rate.
Our son told us about Ubank, he was very happy with the interest rate received, as he knew we were unhappy with our current bank of over 50 years. So I took the plunge and transferred our money into an online savings account earning 5.5% we were more than thrilled after seeing our funds grow after the first month. Essential for us newly retired we wanted our money to work for us. And there were really no hoops to jump through to earn that rate. Deposit $500 a month doesn't matter if you take it out!! I mean how good is that. I did call them up to help me with something within the app and the man on the phone was just lovely and didn't rush this over 60 year old trying to navigate online apps. It's the first time in a very long time I've felt like a valued customer of any banking brand. 10/10 from me. And more than happy to recommend to anyone. They really took the scary world of an online only bank away. My only regret is I didn't do it sooner.
Ubank was very easy to open accounts and has a good app which is reliable and easy to use. Very good interest rates on home saver account. I recommend this bank.
I have been using UBank for my saving account to buy a property. I was so impressed and surprised when they offered such a big increase in interest last year with very easy to follow criteria It has giving me a great boost in savings The app is great and very easy to navigate The only negative I have for UBank is the chat function, definitely needs improvement
^See information about the Mozo Experts Choice Savings Account Awards
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