I get top interest from UBank, with the convenience of a transaction account that tops itself up automatically from my savings, when required. I do not have to do anything as the account manages itself. This is very convenient when you want to use a debit account instead of a credit card which is handy with some service providers who charge a lot for credit card payments (e.g. many internet service providers such as Exetel). I also pay my credit card payments using future dated feature with UBank. I date it to the due date so I maximise the int...Read more

I have had a USaver for quite a few years now and set up an automatic savings plan and everything was going great until recently. The introduction of the USaver Ultra is not something I want, but if I want the extra interest I have to have one.

Basically the Ultra is linked to your other account as a transaction account with a card. Firstly, most people already have too many bank accounts, why would I want an unnecessary one.

The worst part though is the automatic top up which they call sweeping. It is set up by default and automatically ...Read more

Decided to open an online account for savings and to take advantage of good interest rates.
Unable to verify identity, website link was dead day after day. 3 days to respond to online question. Suggestion was to go to Post Office and take ID, then they would send to Ubank. Not exactly the online account i was expecting.
Then, website password stopped working for no good reason. Tried to reset password, was sent onetime SMS code. That didn't work. Repeated 7 times. Got in eventually, very slow.
I don't mind a minimally featured service...Read more

Four years ago, I opened a UBANK account, that was quite a feat having to open over the phone ---- took ages, but interest started off better than any bank, gradually rates fell, so as it was such a hassle to actually speak to a person, I happily closed the account and got the same interest or more with one of the big banks, where is was given the very best financial advice re some money in long term accounts etc .it is so much easier just being able to pop into the bank and speak to a person straight. Away
UBANK. is open 24 hours a day, BUT ...Read more

I am currently with ubank for my home loan and also tried using their transaction accounts.
Their customer service doesn't exist and i don't care about that. I don't need anyone to hold my hand, i'd rather do it myself online. However their website is the worst worst worst that you can possibly imagine. It doesn't work! Most transactions will fail, sometimes it won't accept my password when i know it's correct, try to reset password and it won't accept the sms reset code it just sent me a minute ago (supposed to be valid for 3 days), - i'm sup...Read more

I have been with UBank for a few years now. In the beginning their interest rates topped any other banks and then they started to fall below the others which caused me to move my funds elsewhere

Recently, since the introduction of UBank Ultra their interest rates became the best again. The only thing is that there are conditions to be met to get the bonus interest rate.

All in all it is not a bad online bank account but there are a few problems. If you BPay funds into your account it can take 5 days to clear and you can not use that money...Read more

The IT business analysts and programmers for what is an internet only bank are absolutely hopeless. Functions for anything other than simple transactions are not intuitive and often don't work. As another user has commented, a so-called upgrade introduces a new set of problems. When they create a problem, the responses by secure e-mail are generally not helpful and often put the onus back on you to fix it - absolutely sub-standard customer service. The security is over-engineered - you have SMS security for every transaction, even if it is to...Read more

Providing that they don't "improve" the site as they do periodically, it works OK. However, every year or so the site is closed for "improvements" with disastrous results. When the site was closed last year it took around six months and many lengthy phone conversations with UB staff to allow me to access my account without my changing my password. The site didn't support the Windows browser for many months, until they managed to find a way out of their problem. It has been closed over this just past weekend and halfway thro' Monday morning I st...Read more

I consider myself a very demanding customer & vigorously go after unscrupulous operators. I have been dealing with UBank USaver a/c for over a year now and I haven't had any problem in any aspect of operating my account. Yes, they have not been really on top of the interest rate ladder on savings of late mainly due to intense competition in the market but with their latest Ultra offer, they are back in the game. It is a fact that we normally complain when we have had a bad experience and that's why we see more negative feedback than positive. W...Read more

Been a Ubank customer for three months. All was going well until I actually needed to take some money out. Although Ubank had been more than willing to send me emails about promotions and XMAS gift vouchers over the last 3 months, they have been unable to send me an email to advise me that my account wasn't fully verified, therefore meaning that I could not transact on the account. Sorry correction - they have been happy for me to continue to deposit funds into the account like I have over the last three months, just not take the money back out...Read more

Firstly, the gift card. Wow, it never arrived! I can't believe UBank is getting away with this. I don't trust Ubank anymore. I was eligible for the gift card for 3months now, and I am still having to call them up and fight for it. They keep telling me there is a delay, and one staff was extremely rude and even hung up on me. Customer service is really bad, and it's unfortunate because you will have to deal with them a lot to get things done right. I am not sure I will ever get that gift card now.

UHomeLoan process is frustrating and long too...Read more

I experienced an issue with my password, it took several phone calls to the call centre over a period of 8 weeks to fix what is in the IT world, IT 101. Fortunately I was in no hurry to access the small amount I had deposited.

But no, those backroom boys at NAB could not even resolve the issue. Despite the efforts of the call centre staff at U-Bank to assist, it would seem that the computer boys did not give a [censored word removed] about fixing the matter promptly and as a result left a very, very, very poor impression of them and NAB in g...Read more

Don't bother applying for a ubank loan. There's a reason why their interest rates are low, it's because they have poor customer service.

I applied for a. UBank loan in Sept-13. It's taken me 20 document uploads, a lot of proof of income and assets etc. it's now Nov-13, and they still haven't progressed my application to the next stage.

Each time they request more info, I upload more documents, it takes them a week before someone checks the documents...then asks for more supporting information.

After 3 months, the fixed rates with all ...Read more

I was happy with UBank all along in the past few years until a few days ago when I rang for enquiry, the customer service guy suddenly blocked my account access since he did not trust I am the account holder simply because he thought my voice did not sound like in my age. I think it really does not make sense.
1. I was just trying to ask some general questions and was not doing any fund transfer. Why had my account to be blocked?
2. I appreciate the alertness of the customer service guy but I don’t think he has to go to the extreme by blocki...Read more

I've had a USaver account for a few years now. I have been happy with the interest rate and overall good quality savings account.

It has a helpful website. Signing up was extremely easy. The interest rate is great. The online facilities are comprehensive, allowing you to do most things you'd want.

Some people seem to be unhappy with UBank's interest rate decreases. I have not been notified of any decreases, but I have seen them on my statements and the official website. I have compared the changing interest rates with other banks', and UB...Read more