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Discharge delay tactics
Dont refinance to Ubank if you want a loan term less than 30 years! Thats all they do even if your in your late 50's. Now I need to refinance & I've emailed the signed discharge form twice & received confirmation email they received it. My incoming Lender said they contacted to say they hadn't received the form again & want another 15 business days to prepare discharge. I tried ringing only to be told leave a message after 40 min on hold. I am going to stop my repayments & will now give bad reviews & never recommend this Lender.
I have been using this bank for more than a year.
This bank is not reliable. I try to log in today and it was again in maintenance (middle of the day).
The customer service did not help me with my problem.
I am on my way to close my bank account, it was a mistake to open one at Ubank.
Existing Home Loan Account Review
Tried to extend IO for 1 yr as my existing 3 yrs IO fixed will be expired, however Ubank declied the extension and changed to my home loan repayment to P&I. Due to this economic pandemic, UBank should more considerations for people financial suituation and helping the customer to go through difficult situation but not just follow on your bank policy only.
Avoid if have a specific timeframe to settle
My wife & I engaged UBank in organising a home loan for an undisclosed property (at that point in time). After the initial phone conversation, we were confident in their ability to deliver once we had submitted the required documentation for approval.
However, we were required to submit ID documentation through Australia Post which I did myself with no issues. My wife at the time did not have an Australian issued photo ID and we were required to obtain this first before proceeding. Once we had this ID my wife submitted her form through Austra...lia Post but was unlucky enough to deal with a junior clerk there at the office who did not provide the necessary certification for the documentation to be deemed fit for purpose by UBank. We were provided with instructions to provide copies of my wife's ID and proceeded to obtain the necessary certification to do so. We then followed the instructions and express posted the documents to the address that UBank provided. It has been since 2 weeks since these were posted to UBank and they are still unable to locate them. An alternative solution has not been provided and UBank has insisted that we post the documents again. The main issue is that our contact at UBank has repeatedly stressed that they are unable to progress further through the application until their antiquated ID application process is completed. Our contact has insisted that they were doing everything possible and have spoken to their manager, but this is entirely meaningless if they actually weren't going to provide us with an unconditional approval to purchase a house. Since the start of the application process, we had settled on a house we really liked and were required to sign to a contract and prevent the vendor from receiving any further offers in order to secure it. The long application process was causing my wife & me severe emotional distress and as a result, we decided to seek alternative finance. In addition, our contact at UBank is impossible to get a hold of and does not answer either phone calls or e-mails within an acceptable timeframe.
Horrible Customer Service
Applied for a home loan and was progressing through everything. Ended up purchasing a property and it’s been 5 days since I sent an email to the person in charge of my home loan asking for an update on everything as it was taking an unbelievable amount of time to deal with basic documents that had been supplied over a week before. Phone number is disconnected and no email response at all. So much unnecessary stress for a first home buyer. Do not bother with UBank, they have failed us at a crucial time.
Worst bank experience ever.
I’ve been trying to access my money since last week without success. After waiting a long time to speak with them on the phone, they said I should verify my I.D., which in my opinion should’ve been done before they accept my money deposits. I tried online and didn’t worked. “Michael” told me to go on a Aus Post to verify there and after they receive the verification I would get access. I went one week ago and sent the verification through express post which is incredible fast and after calling them twice this week (Complaints numbers: 488494549...286597 and 488494549754827) they said it didn’t arrived there yet. I really need MY money to pay my bills and they’re locking my account. Ombudsman is being contacted now to take legal actions. I HIGLY NOT RECCOMEND UBANK.
Poor service from call centre
5 weeks since my son couldn't get access to his account. He did an ID check at Australia Post on the 12th June. After following up at least weekly and being told that they couldn't tell us anything and to wait for an email. After 4 weeks when we pushed for answers, we were told that they couldn't tell us anything and to email NAB ( that's right NAB). Called again on 16th July and were told that we shouldn't have been told to email NAB and that he will check it out and call us back withing the hour. 5 hours later no call back, so we called aga...in to be told that they couldn't tell us anything but she would email the department responsible for this and they will get back to us. So we'll see what happens this time. When this if finally sorted we will all be closing our accounts which amount to many hundreds of thousands of dollars. It's just not worth the hassle for a little bit more interest.
Poor technical support and ability to deliver
For the past few months I have asked for my name on the overview page of my account to be corrected. It is misspelt. Not difficult, you would expect. At least three times I have been told that it has been fixed. Not the case. Still wrong. This brings into question their ability to fix and test and issue. I have been told recently that Ubank is still investigating, Ha! A couple of months ago I also raised the issue that their OFX transaction export is missing transactions, a fundamental flaw. Still no resolution. I am regretting my move from CBA Netbank, which is a superior product.
Quite possibly the worst banking website possible
I've been trying to transfer money to a friend in need in the US. After a bit of hassle and lots of "Sorry, Internet Banking is temporarily unavailable", I find out that UBank doesn't allow international transfers. Ok, then I'll just send the money to a friend first- "Sorry, Internet Banking is temporarily unavailable". So when it comes back online I try to send the money- and it doesn't work. I check with my friend that all the details are correct, then try to contact UBank via the secure mail- "Sorry, Internet Banking is temporarily unavailab...le". So finally, I try again, and after several more days of waiting and Internet Banking being temporarily unavailable, I finally get through to customer support. They suggest checking the details, and readding him as a payee. Ok, I'll triple-check the details, then try to add him as a payee again- "Sorry, Internet Banking is temporarily unavailable". All in all, I can sum up the UBank experience with one simple sentence; "Sorry, Internet Banking is temporarily unavailable".
UBank uses snail mail (non-secure) to send a security code
I have two phone numbers registered to my UBank accounts. One phone number has just been cancelled and the other is my workplace phone number - where I don't go to during the CV19 pandemic.
To register my new phone number to my UBank account, UBank sends a security code via SMS to the registered phone number - which in this case is my cancelled phone number - so that couldn't work.
So I telephoned UBank and joined the queue (after 6pm).
The UBank Customer Service officer securely identified me but would not update my phone number. I asked her...to post a security code on my UBank account's inline SecureMail. NO! She said she had to POST MAIL a security code!!!! When I asked her why she couldn't post a security code via my UBank account's inline SecureMail she said that it wasn't fully secure. One can only deduce that UBank believes that Australia Post mail is more secure than their own inline SecureMail. ???? Addendum:
Incompetent, rude, high effort.
COMPLAINT - 488494-548039692
I had the unfortunate experience of not having access to my phone and needing to reset my password to gain access to my funds, however after waiting on hold for upwards of 30 minutes, being hung up on, then waiting a further 30 minutes I was told I could not reset my password, and a security code would need to be mailed to my residential address which would take 15 days. Additionally, they were not able to transfer funds to my other account so I could access cash.
The matter was escalated to a team leader [name re...moved] who was if not more incompetent that the call centre staff, who was not able to offer any solution and based on the conversation he had with [name removed] will not be able to offer. Additionally, [name removed] forgot to place me on hold while he was briefing [name removed], and the manager clearly stated to say he was coaching someone as he did not want to take the call. **Please note after cc'ing the CEO on my complaint to the IDR team, I received an email from the Head of Customer Interactions who was able to process my request with minimal effort** **In addition, the newly appointed executive called to follow up after it was resolved and is genuinely focused on improving the operations and interested and committed to improving the customer experience! Very appreciated, genuine and rare! Thank you!
Good rates, but you can find where they save on costs
UBank offers better savings rates than most, and its banking app is pretty good functionally. It was my main bank for about 5 years. They even support GarminPay, which is unusual and great for me.
UBank probably isn't for you if your banking is complex, or you regularly phone your bank.
Their website is mostly good, and I've never really had problems that caused me major grief. There are a couple of extra functions that don't seem to work, but these don't prevent any banking or transactions. I prefer underpromising to underdelivering, even th...ough that's a bit irrational. I'd probably have given them better marks if they didn't offer these extras. The call centre is also a touch slow; I've never gotten through in under 20 minutes. Once through they were helpful, polite and efficient. The niggles are minor, but real. After 5 years I was a bit sick of it. It's a value/budget offering. If you accept that, it could be right for you.
Just opened a bank account recently by showing a registered post officer my IDs and bills with my residential address and completed form as per the procedure for validation. And then I got a debit card and transferred money into the new account. And then I got an email from ubank advising me to go to a post office to get my IDs certified and post these documents to their Sydney office. Now I can't access to my hard-earned money until I post the documents to their office in this pandemic. Very disappointing that they didn't update their applicat...ion form in the first place which is making me go to the post office again. They insisted that I must post the documents to their Sydney office and don't accept an email method. I waited for about 20mins on the phone line and the person who picked up my call was rather professional but the banking procedure seems very outdated and causes inconvenience to the customers(a big warning message for the vulnerable groups who can get affected by coronaviruses badly and should avoid being in public areas unnecessarily )
Worst customer service and none of their employees are on the same page
Worst customer service and none of their employees are on the same page.
Keeps going in circles.
None of their phone numbers they give you work so you can only email them.
Do not recommend this company at all the worst company I’ve ever dealt with.
Nightmare to deal with online and on the phone
I have read a number of reviews on here and it looks as though we are all having the same issues, poor website, long wait times on the phone, and when you get through there is no progress made resolving issues.
Had to go tobthe post office to confirm my identity during covid lockdown, then found issue was still not resolved.
For an online bank their back end is really awful, highly advise people to stay away.
Poor customer service here. Guy I spoke to sounded like he read off a script, and couldn’t resolve my need- had an old phone number, so had to update it to receive my password.
Went through my past 3 postcodes for identity recognition , and they were all wrong- Not sure how, when they are the only 3 I’ve lived in! Now I have to go out to Aus post to confirm My identity, during the Covid pandemic!
Don't bother !!!
I have been with UBank for 12 yrs and I gave them two stars (instead of one) as they are good at interest rates for saving accounts ONLY; however, when it comes to home loans they are the worst, I wouldn't finance a pet shack with UBank, their rates are similar to other (non virtual) banks and their customer service is disgraceful. They arranged a phone call with me to go about my home loan application, after a hello introduction (including my name and date of birth) the person on the phone said give me a minute to check the phone connection a...nd then came back and said we are sorry you failed identity check, we can not proceed, SERIOUSLY !!!!!. I have had doubts about having a mortgage with a virtual bank, now these doubts became reality, stay away.....
Questions & Answers
Dear UBank, you sell yourselves as the only bank you will ever need. Yet basic features that are standard with ur competitors simply aren’t available and there seems to be no indication when they will be available.
Pls provide an update as to when Osko and PayID will be implemented
Do the managers at uBank live on the same planet as us their customers?
It would appear they are not aware of how apathetic their customer service is.
I need to take my money and I sended all the papers that you told me from Australian post office and still I cant have access to my money I want my money back I need for an emergency and I cant take any money , I want to shut down my account with this bank and send my money to my nab account the worse bank , never put your money there.
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