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UBank USave

UBank USave Questions & Answers

2.2 from 169 reviews · View Statistics
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6 questions from our users


I was thinking of changing my mortgage loan from CBA to u bank because it has low interest rate.
After seeing all the reviews Which are not very positive, I am bit confused.
If any one in the same situation please share your thoughts.

No answers

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

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

I have been with UBank for about an year now & my experience has been quite OK, considering the mixed reviews that I found here. The interest rates also have been quite competitive so far. I must qualify my statement by stating that so far, I have only deposited the money but not withdrawn and I know very well, the real experience with a bank is when you withdraw funds, just like when you see the real face of a insurance company when you lodge a claim. That's why, I am keen to know whether anybody has experienced any difficulty in withdrawing funds. Before further entrenching my relationship with the bank, I would like to know what I am getting into?

7 answers

I have been keeping between $150,000-200,000 in my USaver account for a couple of years, and on numerous occasions have withdrawn sums of between $1000 to $20,000 without any problems. Once you try to withdraw more than $2000 you cannot do so totally on-line, and have to speak to someone on the phone to answer some security questions. I suppose this is a reasonable safeguard. I have always moved the money to my linked account at another bank, and it generally turned up the next day. It might take longer if you're trying to make transfers into non-linked accounts. Just be careful not to try to withdraw on Friday evening or weekends, because it will then take them up to 3 days to move the money across. Why it should take so long when these days all transfers are made electronically is something that really annoys me, but it seems that most banks are much the same.


I have been depositing and withdrawing funds from UBank for a number of years now and have never experienced the slightest problem. Money always appears in my linked account the next banking day. Have withdrawn amounts up to $20,000 without having any difficulty. Bank always sends SMS message to my mobile before acting on the withdrawal request thereby confirming that the withdrawal request is correctly authorized.


I have regularly transferred money out of my USaver account and not run into issues. I think the largest amount I've transferred at one time is around $3000.


Can I nominate a second mobile phone number

1 answer

I do not know
I am just another dis-satisfied U bank customer
You can ask that on the "secure message" tab on the U bank online page

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