2020
Beats out previous deals and gets you $20! Happy new year :)
First 1,000 applicants
$20 Bonus on Signup @ Up Banking
2970
Referral Links
Referral: random (1199)
$10-$15 for both the referrer and referee. Conditions
Bonus starts at $10 and $1 for each year referrer has been a customer, up to a cap of $10. Referee will see the exact bonus when you visit Up Bank.
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do they give you a free $20 ? :P
Does it hurt, at least at first?
genuinely LOL'd.
Not big enough to hurt!
$20 is like a pinkie. Other banks offer BBC.
Can I join without Facebook?
Yeah but you do need ID, email, phone number, bank details.
Posted on FB over 24h ago? How do we know if we are among the first 1000?
Also how easy is it to close your account?
Just signed up, got the $20.
At what stage do you input the promo code? A friend had referred me previously and they still have my number.
Immediately after the phone number verification, I didn't have to verify the number they sent, it did that automatically, but the next box is where the promo code goes.
@brendon1: I didnt get any chance to input a promo code. I had been referred by a friend and it said they had been notified even though the SMS said it had expired.
Only got $5 :(
@abc: I ended up doing the same signed up from a ozb referral code. But opened a chat in app and they applied the 15 for me.
https://imgur.com/a/UUDSs1V
@abc: Just get on the chat, they'll sort it out for you.. long wait times though, don't worry about staying on the app either. The chat stays there.
me too
I got $20.. but can't withdraw..wtf?
You need to transfer some money into it first to activate payment. If you use PayID it's pretty much instant. Transfer in, transfer out.
Got it. Awesome!
How much money I need to transfer? 1cent?
I did $1 and it worked and yeah I'd imagine 1 cent works as well (unless there is a minimum)
@BarginGrabber: Sorry to ask but I don’t understand this PayID system? could someone please ellaborate?
@BargainGhost: Think Paypal friends and family, thats kinda what it is like.
Ok, it is pretty simple.
Go to your up bank app.
Copy the payID e-mail provided
Go to "pay anyone" (or equivalent in your actual bank app)
Paste the up-bank e-mail into "pay anyone" section and send 1 cent or $1 or whatever you want.
It will instantly be sent to the up-bank and you will get notified.
Now, you will see $21 balance and option to send it to someone. You got to set your payID for your actual bank account
Your bank should have steps on their website on how to set it up (if you have ANZ, tell me so I can be more specific).
After you do that, your payID will be either an e-mail or your phone number (you get to pick). All you got to do now is use that to send the $20 via payID on your up-bank app (I recommend doing a $1 test first to make sure its all working)
@BarginGrabber: ah, so basically you copy the UP address then go to your Bank and transfer small amount of money to this UP address and it will be there on the UP app immediately?
Any idea how long it takes to transfer a payID from one place to another?
This is probably going to be Ozbargained quickly
Ozbargaining, by definition, happens quickly.
If you go through the referral link will you get an extra $5 or $5 only?
Just used an Ozb referral and got $5 but no way to enter the code for $20, so I think I took one for the team.
Oh well, at least someone on Ozb got to benefit :P
I ended up doing the same signed up from a ozb referral code. But opened a chat in app and they applied the 15 for me.
https://imgur.com/a/UUDSs1VYep just tried and got the extra $15. Great service
Have a chat to them saying there wasn’t anywhere to input the code. I did and they applied an extra $15 to my account. Top service.
You can get up to $10 through referral link
Edit
Earn 2.25% p.a.
HMM
Both Up and 86400 are at 2.25% (after bonus rate is applied) currently. Up requires 5 card transactions while 86400 requires $1000 deposit (withdrawals are allowed) to get the bonus interest rate each month
for UP Bank the bonus rates max balance is 50k while for 86400 it is 100k
Pretty smart move by their marketing department. $20K for marketing on OZB front page, news outlets, social media and word of mouth is a bargain.
Thanks for the analysis.
easiest $20 ever! wish my job was so easy!
Thanks OP
Up Bank has some excellent functionality, do recommend you give it a go.
What do you think are its best features?
I've signed up for the bonus but am yet to use "Up" per se
Push notifications, categorising spending, international transfers with transferwise (coming early this year)
Their UI is slick. They are constantly adding new features. Their roadmap online (“the Up tree”) tells you what they are working on adding. I’m looking forward to covered transactions - presumably Up will automatically withdraw from a saver to meet a debit transaction (making budgeting simple and easy, without a heap of accounts). It can also split income into savers immediately by %. It is banking but done right without all the clunky UI. I’m very happy with it. No FX fees, no monthly fees, and a support team that actually helps seals the deal for me.
I'm not sure if they have a target market.. but I'm mid 30's and I signed up and will probably stay.
My old bank still didn't have Google or Apple Pay. Or PayID.
So there's that.
- High interest rate.
- Savers which is like having unlimited 'accounts'. You can transfer money in and out of these accounts automatically.. more features coming. One upcoming is matching spending to savers. So you have a saver for Groceries - I assume if you spend at Coles/WW/Aldi, etc. it will take the money straight from the related saver. Don't know 100% but I assume that's how it will work. So then Savers become mini budgets.
- All the pays.. Samsung, Garmin, Fitbit, Apple, Google.
Chat support that are open until like 12 or something. They always reply quick. Not that I've had an actuall problem.. just suggestions.
A roadmap..! More features planned. They update the app every few weeks.
Credit coming this (2020) year. Home Loans. Not sure about actual credit cards.
It's pretty much zero commitment. Download the app and sign up in a few minutes. Transfer some money over (instantly if your current bank has PayID), use it for a few weeks / month. If you don't like it, leave.
Not only do they have Google/Apple/Samsung/FitBit etc Pay, but it's instant provisioning on Google/Apple/Samsung Pay, meaning you don't have to wait for your card to arrive before you start using your new account.
Splitting Pay is pretty slick too, soon as you get pay deposited, it'll move across a predefined percentage into whatever savings accounts you've chosen. Showing upcoming bills etc is also nifty, as is showing AfterPay "Smart Receipts". So many cool features that I can't be bothered to list 'em all. Like someone above mentioned, check out the Tree of Up
I've been with them for 13 months now and have never looked back. Incredible bank and having a Live Chat is one of the best features. Problems are resolved super fast. Couldn't recommend them enough! I implore the OzB community to actually give their service a go and not just take the money and run.
To get their high interest rate every month is a big commitment though.
@Imitation: I'm sure I would find it really simple month 1 and month 2 and month 3 and then at some point I'd spend time worrying about whether I'd remembered. For me the point of a savings account is that I can completely ignore it and use other payment methods. I know I can make 5 transactions on a single purchase at a self checkout. It's still not easy enough for me.
Just signed up, how do I confirm if I have received $20. It is not showing in available funds. Looks like I a bit late as usual :)
Open chat and ask ~ where to input the code / say it hasn't appeared
It should show in Activity with "2020 Sign-Up Code"
Thanks for the deal, $20 awarded to the account immediately.
Anyone have a summary as to what perks does this Bank offer over others like ING etc?
Push notifications, categorising spending, international transfers with transferwise (coming early this year)
My fave is no excess fees on internatuonal purchases. So u only pay the mastercard rates and that's it. Makes it cheaper than other banks and PayPal. I also like how u can see a digital card on Ur phone so u can shop online without having to grab your wallet. In fact it supports pretty much every nfc payment method (apple Google Samsung fitbit and garmin pay) so you never need to touch your wallet again. The way it shows company names instead of cryptic business names is also pretty sweet. I highly rate it. As a commbank user the only thing I miss is cardless cash, otherwise in my eyes it's perfect
From what I can see Up has no monthly fees? Anyone know or?
no fees. fees no.
Anyone know if there is an inactivity fee? Compared to 86400 doesn't have one so I'm happy keeping it open. No harm! (Someone please correct me if I'm wrong)
I don't think so according to this
Does Up have monthly account keeping fees?
No. Up doesn’t charge monthly account keeping fees. In fact, Up is actually free for most standard use with practically no fees at all.
Yes, I agree with you but I think inactivity fee is different to monthly account keeping fees
I read the PDS and the fees ad limits and safe to say I don't think I see anything there so I might just keep this bank account open!Asked over the chat, waiting for a reply and will edit this comment when they do
From the Rep:
There are no monthly account keeping fees associated with keeping an Up account https://up.com.au/pricing/. You will be free of any charges if you choose to hang in there and try us our down the line, even if now is no the time
@CC123: Cheers thank you for clarifying!
Will keep this open then - no reason not to leave a little bit of money in it.
Keep a few bucks in it and use it for online shopping where you don't want to use your proper card.
what do they mean by "practically" no fees?
I am guessing the International ATM withdrawal ($5) & International ATM enquiry ($1.50) fees? and/or the Domestic ATM withdrawals (Free at most major Bank ATMs) & Domestic ATM enquiry (Free at most major Bank ATMs)
I forgot to put the 2020 code, and messaged Up as suggested above by LastSeen. They immediately applied it for me.
I signed up for the $20, thought id never use the service, but this seems really handy.
works!
Signed up and added the card to google pay. Can use it straight away for tap & go
$5 for international ATM withdrawl? Wtf? If people have mortgage offset accounts better leaving money there.
In fact I'm pretty sure it would be cheaper to withdraw the money in Australia instead.
Received. Thank you!
Why neg an actual issue I'm having registering?? Not helpful!
I'm not criticising Deal, just verification has repeatedly failed for me! Never failed ID check before in my life!
Thought someone may have an explanation!
Downloaded app via Facebook link.
After verifying mobile, it couldn't verify all 4 of my ID (DL, Medicare, Aust Passport, previous address). DL is usually all that is needed.Reinstalled but get message unable to verify ID at this time😣
Tried other phone - after verifying mobile it again rejected all 4 types of ID!
Unfortunately no $20 for me.
Reported problems to UP.
But can't chat as I don't have an account.
Hopefully they'll be more helpful.no credit check, i signed up with my medicare card.
Don't know why I'm being downvoted. Read the tick boxes during sign up, credit check is taken place
it's an identity check, not a credit check
Correct
Back in your box Dr Cheapo
I think its because a "Credit check" is different to "verifying your details with a Credit Agency"
One the best deals this year thanks OP, just got my $20 for a 2 minutes sign up process Sweet!
I prefer Mybank. Is Up yours ??