ubank

Tried to sign up for a few days. I keep getting to the same point of putting in my Australian passport and it comes back saying 'With the information you provided we are unable to open an account for you.' It would be helpful if it would tell me what the actual issue is, as it seems like I meet all the requirements on their website. Show details

UBank The Best By Far. Today I contacted UBank to organise a large transfer of money. I was on hold for a few minutes only which was very good . The bank staff member was Ashley who really was excellent with her most professional polite manner and conduct. The issue was very sensitive and stressful of which Ashley obliged my request to remain… Read more ·  1

with me on the phone until the banking was completed. We had a slight hiccup due to security of which Ashley took control and organised a call to whoever. Within a few moments, the business was completed successfully. I felt safe with how UBank security measures operate and onto any unusual activity. (5 star rating for that alone) Other banks should mirror UBanks systems as excellent. Keep up the excellent standard you set. Well done too Ashley leading with the UBank Standard held high!!! Also UBank the first bank to notify of the rate hike cash rate to increase. Any reward and recognition for Ashley. Listen to the recording is why I ask. Truly she did excellent.

My son is trying to register as a new UBank customer and open a Save account. Unfortunately, there appears to be no way for a person that has neither a Driver’s Licence or Passport to successfully become a UBank customer. The Proof of Age card is NOT accepted. We have confirmed this with both their telephone support centre AND inspection of the… Read more

UBank Manual ID Verification form.

So basically UBank does not cater for many disabled potential clients.

The fact that our son is an existing NAB customer made no difference (surprising as Ubank is a subsidiary of the NAB).

Very disappointed, and we feel this is arguably a form of discrimination, albeit unintentional, or at least just a gap in the UBank processes that needs to be acknowledged and corrected.

Very poor customer service – Would not get a loan with these guys. The customer service is horrendous. Avoid at all costs. Trying to leave this bank is difficult so be aware once you join it won't be easy to leave. This has been my experience. Show details

Disappointing new rules for bonus interest, carbon copy of ING . I have been with this bank for some years. Looking now for bank without petty conditions to earn a decent rate of interest. Show details

You now need to grow your account by 1 dollar every month to get the bonus interest. That's makes it too hard to manage. I will vote with my feet and walk away. I e draw my money out and bank elsewhere.

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

Wow how fast are UBank to pass on interest rates, good on yeah UBank Show details ·  1

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 stopped using this bank a number of years ago for very similar reasons but never closed my account. Recently, a large amount of money was deposited into my account from the sale of an item to an old friend. When I became aware of the deposit, I attempted to log into my account using the ubank app, only to discover that my account had been… Read more

locked.

I was prompted to call customer support, which led to an online identity verification process. For some background, I had recently renewed my driver’s licence, and because the online system still required the expiry date from my old licence, I was unable to complete the verification.

I then called ubank again and asked whether there was another way to verify my identity. Despite providing all of my personal information, including details of the most recent transaction, the name of the person who deposited the funds, and the exact amount deposited, I was told there still wasn’t enough information to verify my identity and I would not be granted access to my account.

After waiting more than two weeks and still not receiving my new licence, I contacted ubank again today to ask if there was anything else I could do, as I urgently needed access to my funds. This time, I was told there was another verification option available. I was instructed to provide certified copies of my birth certificate and utility bills, signed by a Justice of the Peace. I went out of my way today to have all of this completed because I was told that once I emailed the documents through and called them, I would be able to regain access to my account.

However, after doing exactly what I was instructed to do and spending more time on the phone, I was then informed that I now have to wait another three business days for my documents to be reviewed and verified.

This entire experience has been incredibly frustrating. I have effectively been denied access to my own money for over two weeks. On multiple occasions, I asked whether there were any alternative methods available to verify my identity, and each time I was told there weren’t. It was only today that I was informed of the certified documents option. Had I been given this information from the beginning, the entire process could have been completed weeks ago, and I would have only been waiting two or three days instead of almost two and a half weeks.

The lack of consistency, poor communication, and failure to provide the correct information from the outset has unnecessarily delayed my access to my own funds. This situation could have been resolved much sooner if I had been given the correct advice in the first place.

I am so sick of people being incapable of doing their jobs and banks being able to withhold access to my account and funds even after I have repeatedly and consistently provided my personal information and details 

Generally, they offer high interest and good features. However, the below are reasonable functions they don't do. 1. Can't deposit cheques into account 2. Difficult to enter references and descriptions on transfers 3. Ref and Desc don't appear on statements, or downloads 4. No warning on failed scheduled transfers I have reported all these issues to Ubank, and just got a "we will get someone to look at it", with no ETA on a fix.

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

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?