Hey just wondering if theres any risk in the online savings account for ubank compared to better known banks like commonwealth or anz. They seem to have a pretty high interest rate.
UBank Risky?
LFong on 20/07/2010 - 19:09
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yeah.. pretty sure what TND said is correct..
i'm pretty sure it ends October of 2011.
also, don't think it applies for new deposits over 1 million dollars.
This should answer some if not all of your questions.
http://secure1.ubank.com.au/ub/web/customer-help/government-…
They say Ubank is a division of NAB therefore it is covered under the guarantee as NAB is a qualified bank.
The guarantee ends 12th October 2011. (Or three years since it was issued.)
They are backed by NAB and are covered by the government's guarantee until end of october (unless I'm mixed with RaboDirect….)