An online bank with worst online platform.
Over the years Ubank is trying to offer better online (internet banking and mobile app) platform, but still they lack plenty of basic things. 3 stars for recent improvements of the mobile app. I'm with UBank only because of its Savings Interest Rate (which is falling as well due to RBA cut), other than that nothing impressive to be honest.
Ubank is still not quite there
On paper Ubank look like a great option, good interest on saving backed by NAB, but when you actual start using there service, you realize they are like a beta version of a bad bank never really getting any of there features quite right.
First thing will be them stiffing you up on the bonus interest the first moth you sign up, I don't remember the excuse they gave, but they had some made up reason, so if you move your saving account keep the funds in your old account until the end of your first calendar month.
But the main issue with this guy...s is they don't know how to transfer funds, I can send PayID from my nab account to any one in a few seconds, but to get money to my Ubank account (which owned by NAB) will take a few days as they don't support any fast payment system, It's even worse the other way as Ubank won't even process transfers over the weekend, it's Friday night and you realized you need to top up your account from your savings ? good luck. the money will hit your account next Tuesday if your lucky. So the potential is there but at the moment they can't get the basics quite right
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.
Poor online ability to login
I like everything about this online bank. We joined after reading Scot Pape's Barefoot Investor. It was good we accrued money we probably wouldn't have. BUT it is so frustrating when I try to logon and it says "Session timed out" and i haven't even logged in. Or it not available! Do they constantly have to shut down because of cyber security threats?
Just good for home loan rate
Yes, it is as bad as the other reviews make it out to be. So what are they good for? keep your transaction account elsewhere and only have your homeloan here. Keep it simple to avoid any contact with the bank, and maybe the lowest interest rates will be worth it .
- Online bank with a terrible terrible online experience.
- Online banking will allow you to login in from IE and not from Chrome intermittently.
- management of home loan online options looks to be through a 3rd party, and requires another login. Clunky.
- Sometimes you c...
Home Loan Interest Rate Brilliant. Customer Service Terrible.
I have had a principle and interest variable rate home loan with UBank for about 12 months. The interest rate is fantastic, 3.19% at the time of writing this review. However, my customer service experience with UBank has been terrible. I applied for an increase to my home loan to pay for a bathroom renovation. I should have received a call from UBank about my application about 2 business days later, but it has now been over 5. I tried to call UBank about the application about 4 times but no response after about 20 minutes each time. The only ti...me I got through to UBank about the application to confirm the form to submit I waited on hold for 1 hour 20 minutes. I have just tried to contact UBank via secure mail but cannot log into my account. It appears that UBank's online banking site is down.
It’s about time UBank caught up with the times and invested in the national payments platform so that customers could send and receive in real time. Not doing so will make the competition look very favourable.
In fairness to UBANK regarding my earlier criticism about problems I have had accessing my accounts there, they have since spent a great deal of time with me in an effort to overcome my access problems. It now seems that the difficulty lies with some incompatibility between their site and my Windows browser. Why that should be when there is no problem in accessing other web sites, no-one knows. I now use Google Chrome which usually but not always, gives me immediate access to the UBANK site.
Best on line interest rate for a daily balance account. .
Great savings interest rate but not so great internet banking service
Great interest rate, best on the market, but not so good internet banking which seems to crash and be down a lot just when you need to transfer funds. Also find the waiting time on the phone to talk to someone very horrendous compared to any other bank and have found some staff come across rude in their mannerism over the phone but if you are willing to put up with all the frustrations, is worth the great interest rate offered
Savings interest rate is the best of all the banks
internet banking down a lot and waiting times on phone horrendous
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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