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UBank USaver

UBank USaver

2.3 from 153 reviews

See the Best Savings Accounts in 2019 as rated by Australians on ProductReview.com.au.

Reviews

Review distribution

5 star
23
4 star
23
3 star
11
2 star
17
1 star
79

Adam G.

Adam G.Sydney Surrounds, NSW

I haven't had any issues yet

published

I was directed to UBank by the Barefoot Investor and the highest interest rate going. I didn't quite understand at first how to receive the bonus rate and how the automatic "swing" worked from your everyday transaction account, but once I did (after a brief phone call with an operator) it's actually pretty neat. The interface does feel a little bit ancient, but the tech is pretty cool.

Transparency

Tom

TomGreater Melbourne (Inner), VIC

  • 2 reviews
  • 3 likes

Stupid internet banking system nearly everytime has error show up with oracle error message

published

Stupid internet banking system nearly everytime has error show up with oracle error message, could not even change contact email. Call centre could not do anything and wait for 30minutes at least

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Hi Ho Silver

Hi Ho SilverSydney, NSW

Ubank bug when recategorizing income/expenses

published

Part of what I need to do at Ubank is to recategorise my transactions to make sense of my spending. Using phones for payments means you end up with lots of small transactions that flood your account statements. You can at least group them by categories but the categorisations are often wrong so you need to recategorise them. However I get thrown out of Ubank on a web browser when I try to recategorise an expense. Ubank says they are aware of the software bug. SO WHY DON'T THEY FIX IT?

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Sandra L.

Sandra L.Perth, WA

Too long to transfer money

published

Ubank looked promising but it takes 1-2 business days to transfer money through your accounts or to another person. Personally, this is too long, especially if you need to pay someone on the spot


Cam

CamSydney Surrounds, NSW

Very poor customer service.

published

Customer representatives do not seem to know nor care whether they are doing the right thing by their customers. The extra interest rate they provide may not compensate for the poor customer service they provide.


Kirsten E

Kirsten ESydney, NSW

  • 4 reviews
  • 2 likes

Used to be a great product but there are a lot of other options out there which are better

published
Transparency

sarah

sarahGreater Melbourne (Metropolitan), VIC

  • 13 reviews

Highest rate ALWAYS!

published

I have been with Ubank Usaver since it started and it ALWAYS offers the best savings rate consistently. Part of NAB Bank so very safe and secure. All transactions can be actioned on line even opening an account. Very simple, straightforward and easy to understand and operate. I would highly recommend as the best available rate on the market.

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james_winchester

james_winchester

  • 2 reviews
  • 1 like

This app is a piece of rubbish

published
jwhero

jwheroNSW, 2118

  • 9 reviews
  • 5 likes

Great savings product

published

Competitive interest rates
Stylish debit card
Lots of finance management tools in the online banking platform.
Sleek iOS app experience with an intuitive design.
Needed to call them once to set up Apple Pay. No wait time, issue solved on first call in ~10 mins.

Occasional tech hiccups, e.g. online banking didn’t work on Safari for a while due to an OS update, but was fixed as promised.

Dennis

DennisPerth, WA

Absolutely no problem

published

I have been with UBank for about 3 years – absolutely no problem.
I have a linked Westpac account that auto deposits $300 monthly to retain the Ultra Account bonus.
I have a Macquarie Bank account linked for most other transactions.
Money transfers overnight.
My deposit sits around $120,000 and at the moment getting 2.87%.
I will add approx another $40,000 EOFY.
Debit visa cards function in other banks ATMS and at Merchants.
Regards Dennis

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tony

tonyNewstead

  • 2 reviews

Ubank statements for 2017 wont work

published

The Ubank interface for bank statements is so clumsy, and just doesn't work. No matter what date range you enter in (one month, two months, six months, 12 months), it just comes back with a message that No statements are available. Even if you select Transaction History as an alternative, that doesn't work either.


Awful software for an online-only bank, no ability to turn off features

published

I have a Ubank Saver with a linked Ultra account (for the 2.87% interest rate) Website is very difficult, sweep function is permanent and can be set to a minimum of $100. I only use the account as a long term account (I.e. I don't use it everyday) and even then the whole system is so user-unfriendly that I intend to cancel my accounts. in short, it Ubank doesn't pay you enough in bonus interest to justify the difficulty of dealing with them


Sam l

Sam lCanberra

Tech problems

published

I just set up a UBank savings account and wanted to add on the Ultra account also. Upon joining I was unable to access my banking page due to problems with Ubanks system and safari compatibility (I rang the call centre and I own a MacBook Air)
I was informed I cannot set up an ultra account via my hand held device- need to do it via computer. Ok... you’re an online bank, why not make your banking accessible via All search engines? I was then informed that the call staff can’t set up the account for me, I needed to download google chrome to access my account and set up ultra account.
Let’s see if this shemozzle continues... rabobank might be getting my business after all..


Art Hurwitz

Art HurwitzSydney, NSW

  • 29 reviews
  • 19 likes
  • Verified customer

Works Perfectly and Pays the Best Interest

published
Syed

SyedPerth

  • 3 reviews
  • 1 like

Terrible!

published

Don't know how it can be a full online bank! Can’t even verify my account - Drivers license, Passport and Medicare card all failed. Still waiting for a reply of my email sent six months ago! Extremely poor customer service! Funnily you can transfer money 'in' without verifying your account but cannot transfer 'out' without verification! Stay away!

USAVER, beware they won't allow you to withdraw money or update your details

published

Online bank with antiquated practices. I spent 50 minutes on the phone being told I can not access my money without a confirmation letter arriving VIA POST.... What?!
No customer service what so ever! The only word in their vocabulary is "can't"


Marc-Almighty Burtroni

Marc-Almighty BurtroniAU

  • 2 reviews
  • 1 like

Terrible customer support

published

Don’t waste your time with this pathetic excuse for a bank. Can’t even verify my account Drivers license, Passport and Medicare card all failed, print out a form and drop into Auspost days ago and I need the money for a homeloan yesterday!!! Get your $#!+ together!


Rick

RickSydney, nsw

  • 60 reviews
  • 49 likes

One of the highest savings interest rates around

published

MichaelF

MichaelF

  • 6 reviews
  • 6 likes
  • Verified customer

Terrible service, ask for a Manager dont waste your time

published

Edmond

Edmond

  • 9 reviews
  • 2 likes

Fantastic Interest Rates. Fast Twitter Support.

published

I left Ubank for CUA because ubank did not offer POLi payments online which i needed for some online Australian sites. Other than that Ubank is a self sufficient online banking service with expense income graphs online.


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Questions & Answers

binalongbay

binalongbayasked

I have read reviews...a little disappointing. i was thinking of re mortgaging an investment loan with U bank.
As the reviews are a little old ..has the situation improved ad how easy is it to deposit money each fortnight to pay back an investment loan

No answers

GPC

GPCasked

Hi
Whats the story with designating my Linked account as a Payee account? Of course its my linked account- Thats where the money came from. I send you a secure email to request information but no answer from YOU. I ring up and wait, and wait on the phone to talk to someone. Only to be told your Linked account is a payee account with a 20k withdrawl limit. I have to wait 10 Days for verification WTF. You make it so difficult to use this account with all your hidden tricks and inability to communicate with your customer. Worst bank Ive ever delt with and the online reviews confirm it.

No answers

Maria A.

Maria A.asked

Hi, I am thinking of opening a USaver and Ultra accounts. Are there any atms that you can use for free?
What ATMS charge to use them? Thanks, Mariana

No answers

Get an answer from our members and UBank representatives

Details

CategorySavings Accounts
Release dateNov 2009

Visit official website

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