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UBank USave

UBank USave

2.3 from 170 reviews · View Statistics
See the Best Savings Accounts in 2022 as rated by Australians on ProductReview.com.au.
Listing monitored by UBank

Reviews

  • Transparency
    2.7 (11)
  • Rates and Fees
    4.0 (2)
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Angus
AngusGreater Melbourne (Inner), VIC
  • 4 reviews
  • 3 likes

Needs serious updates to UI and Statement Requests!

published

The UI is outdated, hasn't been updated in years. Worst of all is when you need a statement fast, you can't access it online instantly and have to request it, and then wait 24-48 hours! The year is 2021, it should be instant, this is a shocking pitfall. I'm switching to another bank ASAP after a few years of being frustrated with this ridiculous shortcoming every time I need a document fast I have to wait!!

Transparency
4/5
Rates and Fees
5/5
Incentivised Review No
UBank
Adi R.UBankSend a private message
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Randy Holmes
Randy HolmesAU
  • 7 reviews
  • 7 likes

Very bad for Bpay

published

If you put money into Ubank using Bpay, the amount will show up, but be unavailable for up to 5 business days. Not good if you eg need to pay bills. Even cheques were available after 3 days.

Also, if you want to pay bills with Bpay, they don't process transactions over the weekend, so if you leave one to be processed on Monday, the overnight the sweep clears out your transaction account so the Bpay you left to go then fails.
This is a totally unreliable transaction system.

Transparency
3/5
Incentivised Review No
UBank
Adi R.UBankSend a private message
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Totally appalled at UBank after almost 7 years as a client

published

Too many times funds are not available from linked Nab acc plus they take funds from linked accounts even when advised not to. Plus closing the account has taken Since 10.20 on a Friday with funds to go back to linked Nab account still not showing or available Monday 9.10 am.

Incentivised Review No
UBank
Adi R.UBankSend a private message
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Guri Singh
Guri SinghSydney, NSW
  • 3 reviews
  • 3 likes

Bank Statement

published

I need to get $10k secured loan from other bank to pay off my wife’s car so the loan provider asked me to get a bank statement for the specific period for the Ubank account. Made a request to get this statement and was informed that it will take 48 hours which is a week time. Made phones call but no assistance provided. I need the statement urgently in order to save late payments but UBank is unable to provide on the time but advised to wait for a week to get it.

Incentivised Review No
UBank
Adi R.UBankSend a private message
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Peter B.
Peter B.Perth, WA
  • 2 reviews

They fell at the first hurdle

published
  • Thumbnail
Transparency
2/5
Incentivised Review No
UBank
Adi R.UBankSend a private message
Peter B.
Peter B.
UBank
Adi R.UBankSend a private message

Hi Peter, can you private message your full name and best contact and I'll escalate this to our complaints team to look into for you.

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Kane
KaneGreater Melbourne (Outer), VIC
  • 27 reviews
  • 32 likes
  • Verified

Scam!! Scam!! Scam!! Beware!

published
Transparency
1/5
Incentivised Review No
UBank
Adi R.UBankSend a private message
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Iman D.
Iman D.Greater Melbourne (Outer), VIC
  • 2 reviews

Poor Customer Service

published

We have been contacting UBank to have our account closed and that request has been ongoing for a little over a month now. The agents we speak to continually assure us that they will come back to us for updates but we have not received any to date. I would be steering clear of UBank after this experience.

Transparency
1/5
Incentivised Review No
UBank
Adi R.UBankSend a private message

Hi Iman, we're sorry to hear this, could you please private message us your full name and contact number and I'll have a member of our complaints team contact you and get this sorted out.

Iman D.
Iman D.

Sent

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Next

Frustration

published

I spent a long time trying to transfer money into the account of a company so I could pay a bill. I tried CHAT a few times with no resolution - the so called Tech team have never contacted me. When I tried phoning I could not get on but eventually did when I rang just after opening hours. We managed to pay the bill with the person on the phone doing the transfer for me somehow, but I still cannot transfer money using my computer or my wife's computer or my Ipad or my Phone. It is extremely frustrating. I will be closing this account once I somehow manage to transfer money.

Incentivised Review No
UBank
Adi R.UBankSend a private message

Hello, we can understand your frustration! Would you mind sending us a private message with your full name so we can look into what's going wrong here for you?

Michael
Michael

I have contacted ubank via Chat and phone but I still cannot transfer money via my computer, iPad, phone, or my wife's computer. The ubank page indicates success, but no money transfers. So currently I cannot pay anybody.

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Sim
Sim
  • 2 reviews
  • 2 likes

Logging into my account, customer service response

published

I try to log into my account but it always comes up with Maintenance issue. I send emails to their contact department.. no answer... ever! I also withdrew money and it then did not show up on my account so I withdrew again, both amounts came through to my bank.. what is going on with their website and customer service?????

Transparency
4/5
Incentivised Review No
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Savings Accounts

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Decs
DecsSydney, NSW
  • 3 reviews

Sweep is the worst thing ever

published

Automatically set up from the begging and you can never turn it off, only adjust the amounts. Combined with a terrible app and website layout and usability, one of the most frustrating banking experiences one can have.

Incentivised Review No
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Flagged
FlaggedPerth, WA

Misleading and disappointing

published
Transparency
1/5
Incentivised Review No
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kh.llewellyn
kh.llewellynRichmond-Tweed, NSW
  • 3 reviews

Poor customer service

published
Transparency
5/5
Incentivised Review No
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Savings Accounts

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Tom
TomGreater Melbourne (Inner), VIC
  • 4 reviews
  • 11 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

Transparency
3/5
Incentivised Review No
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Cam
CamSydney Surrounds, NSW
  • 2 reviews
  • 2 likes

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.

Incentivised Review No
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sarah
sarahGreater Melbourne (Metropolitan), VIC
  • 15 reviews
  • 1 like

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.

Transparency
5/5
Incentivised Review No
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Page 1 of 5

Questions & Answers

Gopi
Gopiasked

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
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.

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Details

CategorySavings Accounts
Bonus Interest PeriodOngoing
Maximum Balance Interest Paid $250,000.00
Interest Rate
Standard Variable Rate 0.05% p.a.
Bonus Variable Rate 1% p.a.
Total Interest Rate 1.05% p.a.
Release dateNov 2009
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