UBank USpend Questions & Answers

Hi Tasmiah, thanks for your question. We're afraid we don't have any cash or cheque depositing facilities. In this case, you'll need to deposit these into one of your external accounts. Once this has cleared, you can then transfer the funds to your ubank account electronically.

If you have any further questions or queries, please feel free to send us a private message.

Hi Jenalle, depending on the transfer method, transfers can arrive within 1-2 business days. If you have a query regarding a transfer, please send us a private message.

Ok thanks

Hi Charleigh, if you have provided your ubank account details to centrelink this will come in as a direct credit into your account which would be the same as other financial institutions. ^Rachel

Hi Will, depending on the transfer methods, deposits into a ubank account can arrive in 1-2 business days.

Hi Oyekan, we can confirm that both the Save and Spend accounts are able to receive deposits from Centrelink. You may also wish to you to confirm with Centrelink if they're able to deposit funds into an online savings account as well as a transactional account. ^Adi

Hi Shayno, happy to help with this. If you've provided Centrelink with your ubank account details, then the funds should arrive accordingly.

If you have any further questions or queries, please let us know. ^Adi

Hi Pat, happy to help with this query. As an online only bank we can only accept deposits electronically. I'm afraid we don't have the facilities to accept cash or cheque deposits. In this instance, you'll need to deposit the cheque into your external account which accepts cheques. Once this has cleared, you can then transfer the funds electronically. For your convenience, I've included a link below with our accepted deposit methods. If you have any further questions or queries, please let us know. ^Adi

external link 

Thanks for that but I do not have any other bank accounts.

I see. In this case I may suggest requesting the cheque issuer to deposit the funds directly into your account electronically. ^Adi

As it is a bank cheque they have already "purchased " it from their bank. I think I will just have to open a new external account and deposit the cheque into that and then transfer it.

Hi Barry, happy to help with this. I'm afraid we don't have any cheque or cash depositing facilities. As an online only bank, we can only receive deposits electronically. In this case, you'll need to deposit the cheque in one of your external accounts and once the cheque clears, you can then transfer the funds to your UBank account online.

For your convenience, I've attached a link below with our accepted deposit methods. If you have any further questions or queries, please let us know. ^Adi

external link 

I am confused Adi. I have added here part of the information directly copied from the Usaver Product Schedule, where it states in section a that Usaver can accept cheque deposits. Why does the Product Schedule state this if it cannot be done? ... "3. Account Transactions Refer to the UBank General Terms and Conditions for Variable Rate Deposits for full details of the terms and conditions in regards to making deposits to, and withdrawals from, your USaver. Making Deposits a. We’re able to accept one-off and ad hoc payments in cheque, EFT and Direct Deposit. We can accept regular payment by Direct Debit (ASP) and Salary Credit. b. We’re unable to accept payments in cash, traveller’s cheques, international drafts or BPAY®. For a complete list please visit external link  ... Regards, Barry Blackman

I see. It appears that information is dated as our savings account is no longer called the USaver. It is now called the USave. You can view the updated Terms & Conditions here under Savings Accounts USave Terms & Conditions. external link 

This the current version and has all our up to date deposit methods. ^Adi

Thanks Adi. Yes, I have now realised that I had downloaded an old document from the net. It was dated 2010. I didn't pick that up at first. I have now downloaded the latest version and all is clear.

Thanks, Barry

Hi Bikram, it can depend on what you're verifying your identity for. If the below doesn't answer your question, please contact our team via LiveChat on our site or on 13 30 80. You can verify your identity using the Complete your verification here link in the Notifications box from your Online Banking.

Please ensure pop-ups are enabled on your web browser to allow the Identity Verification page to display.

You won't be able to transfer money out of UBank until all account parties have completed their Identity Verification.

We may require Self-Managed Super Fund customers to submit additional documentation to verify the details of their funds and trustee/s.