ubank

What a joke this mob are. Tried to open an account to deposit a lot of money and got a Nup tried several times than called them to be told they can’t tell me why so I can’t fix what I don’t know . So F U U Bank Show details

The internet portal does not allow you to search transactions that are more than one year earlier. It makes it very painful and tedious to do tax. You have to download each monthly statement.

16 years with this bank. Over $266K invested. I'm 80 years old this month. Made an error depositing $10K on 31 March instead of 1 April. Missed out on over $800 interest to live on. Ubank would not budge. Ruled by the algorithm. Recommend using a bank where negotiating is genuine. Show details

Ubank refuse to fix a problem they just say go to AFCA – I got bad advice from Ubank customer service about closing a spend account. They closed it then did not pay the bonus interest for the month. When I rang to ask about it they told me it was my fault for not reading the information on their website… Read more

and said I would have to go to AFCA. They refused to look at it internally and would not go back to the original voice recording of their customer service representative. So be warned if something goes wrong Ubank do nothing; they just parrot policy and that is the end of it for the bank. They cannot and will not try to fix anything. They will not escalate a complaint for further consideration it all ends at customer service. After the above review I was able speak to a Ubank supervisor who contacted me and we were able to work through the issue and I was able to receive my interest for the month. Her advice to me was to escalate an issue ask to speak to a supervisor. It was a relief to get the interest paid. I changed my rating from one star to three as it caused a lot of stress but had a happy ending.

No OSKO – Frustrated that UBank won't transfer my money via OSKO to my account at a different bank. Two calls to customer service, and was told just then that there isn't anything they can do and I just have to wait 1-2 days for the money to be transferred. … Read more

REALLY! The two other banks I deal with have instant transfer with OSKO. Come on UBank, I may have to close my account!!

Wasted a lot of time and disappointed – Tried to transfer money to another account in my name which has been linked for ten years and I have done many times before. transfer was blocked and to ring ubank. When I rang I was told I had to contact the fraud team and there was a 45 minute… Read more

wait on the phone. I was told "the computer had done it". Because of scam issues. It seems like they had blocked many people because of the number of callers . I eventually got the transfer but it it looks as though they are trying to make it difficult for customers to remove their money. Many people must be unhappy with all the changes ( as I am).

I thin u bank are just fine for me. I could use them and got a intrest as well. They even paid out the bonus 20$ on eligible purchases. The thing is they dont have a physical atm eventhough Nab bank owns them they should also advertise for Ubank Show reply

Could the UBank correspondent here pass on the following suggestion to the UBank hierarchy: Allow customers the choice of having savings interest credited to either the savings account or the spend account. Those who use their interest to survive would choose the latter—and would not have to move their savings to another bank before October. Show reply

I saw a lot of the lowest rating for the ubank but I don't think ubank is that bad. I opened the ubank account few weeks ago. The process of opening account is quick straightforward, however, I need time to get use of the ubank apps. The initial bank transfer needs take a week to communicate from my CBA bank. After that, the transfer from bank to… Read more ·  1

bank is quick. The ubank is one of the high saving interest rate bank. It is easy and clear to tell you the bonus interest been activated after you have achieved deposited total $500 and you can withdraw the money without lost your saving interest. I am quite happy with this bank so far.

Forever looking for new ways to screw battlers out of their bonus interest. Their Oct, 2025 changes require the cumulative balance of savings accounts to grow every month to gain interest. This was a deliberate move by Ubank to maximise profits at the expense of customers who have the nerve to require their own money for living expenses.… Read more

Additionally, Ubank narrowed the goalposts with regards to which account types the funds have to go in to unlock bonus interest, meaning that spend account deposits no longer activate savings account interest. This caught me out as a busy week saw me flick my $2 deposit to a Ubank spend account by mistake, resulting in my six figure savings balance not earning a cent of interest for the month. Well, not for me anyway, i am sure the banks executives will enjoy the fruits of it with some healthy bonuses and first class travel. In summary, Ubank are morally bankrupt thieves and their behaviour has resulted in an exodus of customers to banks like Macquarie who do not sink to such depths in the name of profit. After twelve years, this month will be my last with Ubank and it will be my absolute pleasure to leave.

If I do not deposit $1 into the correct account, Ubank will not give me ANY interest regardless of having $kk a large amount of money in my account! This does not match other online savings banks. Getting zero interest does not even match a bricks and mortar bank that gives a low interest rate. Ubank is constantly changing their terms and… Read more

conditions and they are not transparent. You entice new customers with high interest rates to trap them but don't reward loyal customers. In times of financial hardship a bank should not be penalising customers for not being able to save $1 on the last day of the month when we have saved the whole month but then had to pay our bills. As customers many of us live off our interest but Ubank have found ways to give $0 zero interest. A bonus rate isn't a bonus when your base rate has been changed to zero. Ubank also made us keep a minimum amount of money in the offset account without informing us that it would not earn interest. You tell us that you will consider money in our savings account for bonus interest but you didn't make it clear it had to be deposited in to a particular account and that our money will not be considered for any interest at all. Ubank is investing our money and making a profit while taking advantage of vulnerable customers. You sent so many emails always updating your terms that no one can even understand while you make it difficult to find the correct information as you don't send emails telling us the interest rate is really $0 worse than an actual bank. It may seem like just a dollar but Ubank is punishing customers for using their own money. What if I saved $1,000 but on the last day I had to pay medical bills and rent that equalled $1,001 you will not give me any interest nor will you pay interest on compounded interest. Wish I knew this before I would have moved banks long ago. Can't even use your app always locked out when it needs an update and your website is not compatible with all browsers. Please use a real bank that has an actual interest rate. ASIC and AFCA need to fully investigate.

I have been with Ubank over 20 years. It has always been easy to achieve interest at the end of the month. Now with having to have $1 more in your savings account to earn any interest is ridiculous. Ubank is an on-line bank only and should have better savings conditions than bricks and mortar banks. I find the App very good and will keep using Ubank as a transactional account only. My savings will go elsewhere.

Crooks. Blocked my account. I have done nothing wrong. I re-did all the ID verification, still blocked. They take weeks to reply to each email, and when they do it's as if they didn't even read what I wrote, get a generic copy-paste reply. Criminal. My life savings and this ugly ugly corporation are holding it and entirely blocking my access. What… Read more

the actual. Never thought this would happen in Australia but I guess they have the money to fight a lawsuit. Disgusted, and be warned, your money goes in, and then...?

Useless. Their customer service can't get the basic concept of reading what the customer has written and responding accordingly. Continually telling me to do something that I've already stated has been tried without success is just rude and discourteous. Off to find another bank, uBank can burn in hell. Show details

The most boldly dishonest bank in Australia by far, possibly the entire world. Ubank makes Macquarie and ING look positively reasonable and trustworthy. That's no mean feat when you look up how many times and for how much Macquarie has been prosecuted and fined for dodgy dealings by ASIC. . My last dealings with Ubank were in mid-2023. Well over 2… Read more

years ago. I looked at the current advertised deal for 'new' customers to get 5.6% and thought, I'll see if they've improved any since 2023. It didn't go well. I checked all the terms and minimum system requirements they publish beforehand, and it seemed I met all of them. Compatible phone, compatible OS, latest app version, no accounts with them for over 2 years etc. all checked - I met all the requirements, so here's how that went… . Sign Up — enter contact details — An error has occurred, try again later. Obviously no details provided I call the help desk and ask them to step me through the whole process Excuse 1: My phone must be incompatible — wrong, checked, phone is perfectly compatible Excuse 2: I must have outdated iOS — false, iOS is well over min v16.4 Excuse 3: My passkey must be incompatible — The app says you must use one of passcode, faceID, pattern or touchID as passkey. I use passcode. CSR says I need to use faceID or TouchID only, passcode is not good enough. I question this as I read what it actually says on the app screen straight back to him. Turns out he's wrong and passcode can be used, but it must be stored in iCloud to be used. Ubank do not publish that iCloud is a compulsory requirement to sign up. Turn iCloud on. Excuse 4: App still insists on using TouchID not passcode. Will not allow passcode option to sign up. Have to delete stored fingerprint in iCloud required for other apps on phone in order for Ubank to work Excuse 5: Other password storage app present on phone such as KeePass is incompatible with Ubank app and cannot be used. Even when not even used with Ubank, if present Ubank will refuse to work. Delete KeePass. Driver's Licence rejected for ID. No reason given. Have to use passport instead. Passport is accepted . By now I have been on the phone for 45mins and the settings on my phone have been tampered with to the point of an assault charge from Little St James Island in the USVI. I finally get logged in and can see my accounts. Interest rate says 4.85%, NOT the advertised 5.6%. Why? Excuse 6: You must have had a UBank account before. I admit that yes I did, before all the 86400 nonsense, back when UBank was green and actually worked. I say it ended in May 2023, nearly 3 years ago and my final statement was zero one for June 2023, still well over 2 years ago. Excuse 7: Even though I requested my accounts to be closed in May 2023, UBank didn't bother getting around to actually doing anything about that request until 17 months later in October 2024, so according to them, I still had an account with Ubank less than 2 years ago, even though there is no evidence of it. No statements, no ATO interest reports, no correspondence, no nothing. . To anyone looking at the 5.6% headline bait interest rate… be aware that it's pure vapourware. Ubank will invent whatever clause they need to deny actually ever paying it. Blatantly dishonest bank. I can only imagine they got their 1.4 star rating is by employing some AI bots to write glowing reviews to drag the average up off zero. Anyone who banks with Ubank deserves to never see their money again. Stay well away.

Updated for extra info not avail at time of initial posting: The Ubank website is not compatible with Firefox at all. Again, they don't bother documenting this as a minimum system requirement before you try to sign up. If you intend to want to use the proper desktop website to do your banking instead of on a 4" phone screen, then be aware that you'll need a Chromium-based browser to do so. They support nothing else. In the words of the CSR I spoke to, they recommend Edge as your browser. I used Supermium, but I suspect any Chromium-based browser will work except perhaps Brave. It was very clear from my interactions that Ubank is a muppet bank designed by and for muppets only. They expect all their users to have drunk the Kool-Aid and to only do as they're told by their phone vendors and never customise any default settings from the factory standards. If you do change anything, then you'll break Ubank compatibility completely and nothing will work. In the case of Apple iPhone use, as well as having the latest model phone running the latest iOS as a minimum requirement, you will also need touch/face ID enabled, iCloud switched on and active and you need to share your passwords with Apple via iCloud. If you want to use a desktop or laptop computer for banking, then that too will need to be Windows 11+Edge and you'll need to succumb to every privacy invasive form of telemetry and fingerprinting that comes with all that junk software to work with Ubank. Furthermore, if you have any other software that stores passwords for example, they don't approve of on your device (they only support official Apple/Android supported software), then that too will cripple Ubank from working. Even if you need other bespoke applications or software to run other devices with your phone, too bad, if Ubank decide they don't like them, then you can't use Ubank. It could effectively mean that you need a second completely vanilla device just for running Ubank on, so consider the cost of doing that when deciding whether this muppet bank is still worth bothering with. — One last thing: When you lodge a complaint, they will acknowledge receipt of the complaint and then miraculously 1 minute later you'll get the notification that they've resolved your complaint and closed it. If you don't like the result of that complaint (there is none), then call AFCA. That is literally how seriously Ubank take complaints. They take all of 1 minute to handball them to AFCA. Good luck to you if you are brave enough to want to tackle this muppet bank.

Terrible, scam bank does it even exist??. Doesnt let you join up. Such a waste of time. Can only imagine the ongoing issues. Tried Macquarie and AMP soon after. No issues. The online reviews are accurate.

Terrible bank, shocking complicated and unnecessary processes, we left after numerous issues. I also asked twice to be removed from any contact list as no longer a customer and still getting text messages.

THEY BLOCKED MY ACCOUNT TOO! I've had no assistance or responses from them in 2 weeks (update: it took 3 months until resolved only thanks to AFCA). Ubank are crooks. How many people have they done this to?

Over Easter, it took Ubank/NAB 6 days to transfer funds between the two institutions. In this day and age, funds transfers between any big financial institutions should be immediate. And yes, I’m penalised because of the delay. They still manage to charge interest on public holidays! I cannot recommend either bank, especially UBank. Absolutely… Read more

hopeless. And they won’t pay a cent of interest on your savings if your balance goes backward in any calender month. There are so many much better banks out there. Be wary!

what kind of app based bank has a bug that doesn't let potential customers create an acc. Ubank , Your front door is literally shut for clients. I find this hard to believe. When I attempt to create an acc I'm taken to a passkey prompt that does not lead into creating a password, completely stuck. Show details

My experience with Ubank has been extremely distressing and disruptive, and I would not recommend them based on how this situation has been handled. I received a message stating that my accounts had been restricted due to a “non-response” to a previous email or in‑app notification requesting information. However, I had already responded to the… Read more

email with the required information on the same day it was sent. Despite complying with their request promptly, Ubank proceeded to lock all of my accounts.

This left me completely without access to my own money. I do not have a second bank account, so I was unable to buy petrol or even groceries for my children. For any bank customer this would be extremely stressful, but in my case it has been particularly traumatic. I have a history of experiencing domestic and family violence, and being suddenly cut off from my finances without warning or explanation has had a significant emotional and practical impact.

Instead of resolving the issue quickly, I have had to spend considerable time chasing the bank for answers and support. I have lodged complaints directly with Ubank and escalated the matter to AFCA because of how poorly this situation has been handled.

I am a sole trader, a student, and a parent. There is nothing unusual about my account activity, and I complied with the bank’s request for information immediately. Despite this, I am still without access to my accounts and funds.

This experience has completely eroded my trust in Ubank. A bank should understand that restricting access to someone’s finances can have serious real‑world consequences, especially for customers with families and financial responsibilities. Because of this experience, I am now in the process of moving my banking elsewhere.

So it's been more than 12 months since I have been able to access my bank account with ubank even after sending 3 signed statutory declarations ,birth certificate and other documents...I have currently had my afca complaint being investigated by a case worker as they do not agree with ubanks decision to keep my account locked and am hoping for a… Read more

positive outcome on this ...if I don't get that outcome I will be looking into a legal case against them ....so if anyone else would be interested in joining me please email me at [Email Address Removed] something needs to be done I have over $4500 sitting in my account that I can't touch and by the amount of reviews against this bank I'm sure there would be thousands more dollars they are illegally holding from people ...so don't be afraid to reach out the more people the better...

From what was a great product in the retail banking sector is now a cr#p product that refuses to pay bonus interest, now that they are owned by NAB. Do not bank with this entity – move to other offerings like Judo Bank.