So far we are very unhappy with this bank due to very long call and skype waiting times, 12 minutes+

Ubank has requested extra documents from us, so we submitted them and a few days later they called back and re-requested the same documents again.

When I called to talk to them they took more than 12 minutes to answer.

I may not like commonwealth for upping there interest rate in excess, but at least when I needed to talk to them they never kept me waiting more than 3 minutes.

So far, Ubank you suck!
Higher Interest Rate
Long waiting times when you need to talk to someone, no call back facility, blah blah blah we are very busy and very sorry.

Waited for more than 15 mins at a time!
Been calling them for more than 4x in the past 2 days!
Each call was 15 mins!
High interest rate savings ...
Super long wait time!!!

I love my Ubank account for saving and the benefit of a good interest rate. It is a pain in that you must have your mobile phone near you to transfer money out as they SMS a code that you need to enter. I change mobile numbers and tried to transfer money out which they wont do until I can verify it. Two weeks ago they apparently sent me the new code to be able to change my mobile number but Im still waiting and in that time I cant access the money that I could really do with. :(
Easy to view, very well explained
Only online and must have your mobile phone near you to transfer funds out
Pain in the neck if you change mobile numbers

Negative with MAJOR PRIVACY CONCERNS. I have suspended proceeding with my account as I refuse to supply my details knowing that U Bank intends to misuse them in this manner. It amazes me that an Australian bank is so blase with its use of customers identity details.
Good interest rate
I encountered problems when it came to verifying my identity. It seems that the site does this by using your medicare number to masquerade as you and log into the medicare website and register you for online services. If it succeeds in this process it concludes that your details are correct. A similar process happens if you provide your tax file number (it registers you on the ATO website). I find this dodgy at best and quite possibly illegal.

I would recommend this account to anyone looking for a high interest savings account. I find it flexible enough for my needs and would open other accounts with UBank if I had the need.
I love my UBank account. It is easy to use and the interest rate is good. I use the account mostly for savings so I don't often transfer money or need to use a lot of the features. On one occasion I did have to speak to a staff member on the phone because the server was down but they were incredibly helpful and my query was processed straight away. I also like the fact that is backed by the NAB.
Haven't come across any as yet.

The guarantee to match the interest rate of the other main online Aussie banks is good no need to keep an eye on the competition when Ubank guarantees to beat them.
I like the way transactions are verified by sending a unique code to your mobile. This would definitely make it harder for identity thieves to access. The downside of this of course is it is hard to use if you are outside your mobile networks coverage.
Website seems fast and modern.
Other features unremarkable but match similar online only accounts (eg ING Direct).
Guaranteed High Interest Rate, No Fees, Good Security, Quick sign up.
Hard to use if outside mobile coverage.

An excellent online saving tool backed by NAB. Easy to use with goal orientated savings tool that encourages users to save. Offers one of the best interest rates out there. Would thoroughly recommend!!!
Simple lay-out. Easy to use. One of the best (if not the best) interest rates currently available. Goal orientated saving account makes for much motivation to deposit. Option to move money saved into term deposits with a click of a mouse for better interest rates.
Sometimes can be a bit confusing to navigate through the website. Often graphs and pop-up windows fail to load up properly.

I joined up to the bank because of the very high interest rates offered on their savings accounts. I never actually put any money in the account as i was extremely put off by the website and how hard and complicated it was to use. It may sound silly but i didn't feel safe putting my money with them as the website just looked unsafe to me.
very high interest rates, backed by one of the big four banks.
There is no staff that you can speak to face to face. The only way to do your banking is either online or over the phone which is hard when their website is very hard to use and extremely confusing.

Might work for some but this account was not for me. I have found all other high interest savings account much easier to use
Good interest rate at times
It is very confusing to use their website. I thought that I can link a number of other accounts which I did only to find out that when I was to transfer funds out I still had to retype the details. To this day I am not sure why it allows you to link multiple external accounts. Website layout is very confusing and the jargon not standard. Stopped using them cause I could not be bothered with the confusion every time I wanted to transfer money out

pretty good graphic layout good online feature on banking happy with bank since backed with NAB you feel prety secured and as of date this is the highest interest giving bank on your call money deposit
easy to set up online bank account, 24 hours online help line, pretty secured need to enter PIN no that has been send to your mobile by sms otherwise yr transaction is not executed.
nothing i have noticed