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An online bank with worst online platform.
Over the years Ubank is trying to offer better online (internet banking and mobile app) platform, but still they lack plenty of basic things. 3 stars for recent improvements of the mobile app. I'm with UBank only because of its Savings Interest Rate (which is falling as well due to RBA cut), other than that nothing impressive to be honest.
- Verified customer
Embarrassing IT and stupid account set up and rubbish sweep
Customer >6years. Really good rates. BUT their IT is embarrassing. It feels like high school kids are managing it. The website login never works; the mobile app shows a pinwheel >20 seconds at log in and each time you go between different account views. WORST FEATURE: compulsory transaction account (in addition to your basic online savings account). You can only Bpay or DD from the transaction account, and if the funds are low, it's meant to automatically sweep money from the savings account so as to complete the transaction. IT FAILS all the time. The sweep is rubbish and I'm constantly manually transferring money from savings to transaction all the time to complete transactions (PayPal, car rego, tapping).
Ubank is still not quite there
On paper Ubank look like a great option, good interest on saving backed by NAB, but when you actual start using there service, you realize they are like a beta version of a bad bank never really getting any of there features quite right.
First thing will be them stiffing you up on the bonus interest the first moth you sign up, I don't remember the excuse they gave, but they had some made up reason, so if you move your saving account keep the funds in your old account until the end of your first calendar month.
But the main issue with this guy...s is they don't know how to transfer funds, I can send PayID from my nab account to any one in a few seconds, but to get money to my Ubank account (which owned by NAB) will take a few days as they don't support any fast payment system, It's even worse the other way as Ubank won't even process transfers over the weekend, it's Friday night and you realized you need to top up your account from your savings ? good luck. the money will hit your account next Tuesday if your lucky. So the potential is there but at the moment they can't get the basics quite right
- Verified customer
Worst service I have ever experienced
I have been with the bank for a bit over a year and in that time I have had trouble after trouble. Firstly every phone call took from 20 min to 90 min or more to get connected. I had no redraw capacity for the first month despite what I was told at the start. It takes up to 5 days to see a credit on my account and then often I don’t see the name of the depositor, sometimes I see the depositors bank but never the detail of the transaction. The recorded message says dealing with Ubank “is all so easy” which couldn’t be more from the truth.
UBank - An Awful Homeloan and Loan Settlement Experience
I have been with Ubank since 2019 when I transferred the loan from Commbank for a better rate.
The settlement process was riddled with mistakes and poor communication from UBank.
The app and digital infrastructure offered by Ubank has been ok for the past year. As a savings back they are fine.
However, recently I've sold my house and am in the middle of the settlement. The communication and managmeent of this process by Ubank has been awful.
They have delayed on simple administrative tasks and have a fragmented customer service department t...
They did not keep their appointments
I applied for a refinance and received an email from them scheduling a time to speak. They missed the appointment, they did not call at all and I had to email them to ask them what happened. They said they called but apparently it was not the right number, so I confirmed my correct number with them (this is all via email so there is a record of it). A second appointment was made but again they missed the appointment. If they cannot keep an appointment they should at least email to say so and organise a different time, this is very poor form. Not sure if I will bother scheduling a third appointment.
Bank is unavailable too many times
I've been a Ubank customer for a year or more, the number of times I have tried to log on and I get the "Sorry, Internet Banking is temporarily unavailable message: is ridiculous. How can a bank constantly be down with no forewarning to customers? Looking elsewhere for a better savings bank account.
Would give zero stars if possible
Contacted UBank via online chat as it impossible to talk to a person.
$2.5 million loan application and no human to talk to. Told I had to submit application via online before they would talk to me
Wow, if that's the customer service before they get my business, I dont want to know what it would be like if I banked with them.
Can't do transactions on the weekend or public holidays.
I have been using for 6 months, and I don't understand why they went to the trouble of crippling transactions, especially Bpay on weekend and public holidays. It would be a lot simpler to just have it work every day like all the other banks I have used.
Worse thing is that you don't know what happened to your transaction until you check it on a working day. Has cost me 2 late payment fees so far.
You also can't change the sweep unless you use the app on your phone and expose yourself to more risk.
Reading through the reviews looks like I’m the odd one out who had a decent experience?
Had issues getting a security code sent to my phone to send money across and after waiting around 20mins in the que had my issue solved within 5mins.
No fraud department. Don’t answer phones or email.
UBank have made it extremely easy for people to signup using fraudulent information. I’ve had 8 accounts opened in my name. UBank refuse too deal with it. Won’t answer my call or emails. Every time I do get through the call disconnects.
Tried to refinance two loans with them of 1 million dollars and USELESS
hours of time wasted as thier website has a glitch. You have to put all your financial details in to get to the very last part - your date of birth and guess what! It does not work. Contacted them through the only means of contact - Facebook - Not professional. Told me to try another browser even though they knew they could potentially lose 1 million in loans as was losing my patience. Tried again a week later on internet explorer AND a different computer and get this.... same thing happened! How do you speak to someone if you can not ge...t past the first bloody point!!!! Will not give a contact number to call. SUCH POOR CUSTOMER SERVICE - DONT WASTE YOU TIME - its like customer service at its worst and I am trying to give them money. Extract from their facebook messages after constant contact messages back and forth Could you please try again using a different browser? The online application is working, however, sometimes there are settings/add ons that prevent the website from functioning entirely. It appears this is what happened when you applied. [name removed] Applying online! I'm afraid this first part of the application can only be done online. Once complete, we can then assign your case manager to assist. Let's work through this together, could you please try again using a different browser? Let me know how you go. [name removed] We hear your frustration and appreciate your patience with this. We can definitely speak with you about the application however we won't be able to submit this for you over the phone. This can only be completed online. In this instance if you wish to proceed with the UHomeLoan, you'll need to re-attempt the application in a different browser. Alternatively, you may consider using incognito/ private mode in your current browser or applying in the mobile site on your device. All the best. [name removed]
Never using Ubank ever again
Currently located in Melbourne & when I tried to close my Ubank account this week, Ubanks after hours advised the only was is to go to a post office and fill out an ID form as all my details have changed on file. During stage 4 strict lock down restrictions there is absolutely no work around but to go into a public place and risk my life, quit ridiculous they do not have a COVID safe plan in place or alternatives during a pandemic.
Discharge delay tactics
Dont refinance to Ubank if you want a loan term less than 30 years! Thats all they do even if your in your late 50's. Now I need to refinance & I've emailed the signed discharge form twice & received confirmation email they received it. My incoming Lender said they contacted to say they hadn't received the form again & want another 15 business days to prepare discharge. I tried ringing only to be told leave a message after 40 min on hold. I am going to stop my repayments & will now give bad reviews & never recommend this Lender.
Shockingly Bad Customer Service
I've tried to close my account with them twice and they try to make it impossible. Apparently it can't be done over the phone and they don't have branches. Can't wait to final extricate myself from this horror of a a bank.
I have been using this bank for more than a year.
This bank is not reliable. I try to log in today and it was again in maintenance (middle of the day).
The customer service did not help me with my problem.
I am on my way to close my bank account, it was a mistake to open one at Ubank.
Existing Home Loan Account Review
Tried to extend IO for 1 yr as my existing 3 yrs IO fixed will be expired, however Ubank declied the extension and changed to my home loan repayment to P&I. Due to this economic pandemic, UBank should more considerations for people financial suituation and helping the customer to go through difficult situation but not just follow on your bank policy only.
Avoid if have a specific timeframe to settle
My wife & I engaged UBank in organising a home loan for an undisclosed property (at that point in time). After the initial phone conversation, we were confident in their ability to deliver once we had submitted the required documentation for approval.
However, we were required to submit ID documentation through Australia Post which I did myself with no issues. My wife at the time did not have an Australian issued photo ID and we were required to obtain this first before proceeding. Once we had this ID my wife submitted her form through Austra...lia Post but was unlucky enough to deal with a junior clerk there at the office who did not provide the necessary certification for the documentation to be deemed fit for purpose by UBank. We were provided with instructions to provide copies of my wife's ID and proceeded to obtain the necessary certification to do so. We then followed the instructions and express posted the documents to the address that UBank provided. It has been since 2 weeks since these were posted to UBank and they are still unable to locate them. An alternative solution has not been provided and UBank has insisted that we post the documents again. The main issue is that our contact at UBank has repeatedly stressed that they are unable to progress further through the application until their antiquated ID application process is completed. Our contact has insisted that they were doing everything possible and have spoken to their manager, but this is entirely meaningless if they actually weren't going to provide us with an unconditional approval to purchase a house. Since the start of the application process, we had settled on a house we really liked and were required to sign to a contract and prevent the vendor from receiving any further offers in order to secure it. The long application process was causing my wife & me severe emotional distress and as a result, we decided to seek alternative finance. In addition, our contact at UBank is impossible to get a hold of and does not answer either phone calls or e-mails within an acceptable timeframe.
Horrible Customer Service
Applied for a home loan and was progressing through everything. Ended up purchasing a property and it’s been 5 days since I sent an email to the person in charge of my home loan asking for an update on everything as it was taking an unbelievable amount of time to deal with basic documents that had been supplied over a week before. Phone number is disconnected and no email response at all. So much unnecessary stress for a first home buyer. Do not bother with UBank, they have failed us at a crucial time.
Questions & Answers
Dear UBank, you sell yourselves as the only bank you will ever need. Yet basic features that are standard with ur competitors simply aren’t available and there seems to be no indication when they will be available.
Pls provide an update as to when Osko and PayID will be implemented
Do the managers at uBank live on the same planet as us their customers?
It would appear they are not aware of how apathetic their customer service is.
I need to take my money and I sended all the papers that you told me from Australian post office and still I cant have access to my money I want my money back I need for an emergency and I cant take any money , I want to shut down my account with this bank and send my money to my nab account the worse bank , never put your money there.
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