REDDIT10
$10 sign-up bonus for new customers via code. Increase from the $5 you would get via referral.
Try code 2020 first in case it works for you ($20).
$10 Bonus for New Customers @ Up Bank
1342
Referral Links
Referral: random (1204)
$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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If for no other reason, you can use Up Bank for international transfers. They use the best rate, partnered with and the same as WISE.com the highest exchange rate guaranteed of all the major services with minimal fees.
Transfer funds from your main bank to your up account and bob's your uncle.
Wait I've been using Wise funded by my Up account - I could skip a step? Nice!
International transfers from Up Bank use the same system as Wise, with all the benefits. They're partnered.
Thou, while they have the same exchange rate, I wonder if there is a difference between upbank's transfer fee and using Wise's transfer fee directly.
Hmm, I will need to call them tomorrow.
No, no they aren't great. For anything. As a bank they lack a lot of extremely basic features almost any real bank offers.
Up has a nifty app with some cool metric features. That's about it. That's literally it.
They have always had terrible savings rates.
There's still no desktop access, at all. Have fun with eofy reporting and searches tapping away at your tiny rectangle. Or even just raw, basic audit of your personal transactions.
Have fun trying to spin off a joint expenses credit card or adding a small side hobby business account.
The list goes on.
Why the negs? I'm happy to read some info about the pros & cons of Up.
Ozbargainers have a fervent hatred for anyone that gets between them and the dopamine high of knowing about "the next best thing" or a "deal". Given the SHINY marketing, that kind of person is a clear crossover for UP Marketing. I mean you've got people on here bragging that people ask them at parties about their credit card BeCauSe It'S sO NeOn ColOuRed.
If that ever actually happened, you hang out with morons.
You should see the vitriol whenever someone points out that a deal is actually $150 more than "x" product was 2 years ago, because the label SAYS $50 off, and it's RIGHT THERE. Lol.
They are not really a "bank". They are one of those new money management apps.
They are not really a "bank".
Umm
Up is a brand of Bendigo and Adelaide Bank Limited, ABN 11 068 049 178, AFSL and Australian Credit Licence 237879.
Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation.
Registered address: The Bendigo Centre, Bath Lane, Bendigo, Vic, 3550.@dmbminaret: Um, do you see the name "up" listed on the results of that credit licence?
https://search-afsl.com/Bendigo%20And%20Adelaide%20Bank%20Li…
@dmbminaret: It's owned by Bendigo and Adelaide Bank but that doesn't mean it a bank.
My comment was to point out that it's not a bank that we are all used too, I should have said Neobank.
https://www.canstar.com.au/savings-accounts/neobanks/
Definitely agree the lack of web access is a real nuisance. It is still on their roadmap as "planned" at least: https://up.com.au/tree/
I think arguing they aren't great for ANYTHING is a tad over-dramatic though. They are still a great bank with a great app IMO.
Mate, they aren't a great bank. They offer a terrible savings rate with hoops. You can't get loans. You can't get business or sole trader accounts and multiple cards. They don't have an integrated share portfolio etc like many.
It's only a great bank if you're a kid or you can't look past the flashy gui. It's more a budgeting app than a bank. Which is fine for its use case but the blowing of smoke up certain rear passages is over the top.
They have always had terrible savings rates.
Compared to who?
They've actually had the best rates unless comparing to term deposit or a minimum monthly deposit requirement. Only requirement is 4 transactions per month which can be direct debit.
Are you serious? They're ranked 26th on the whirlpool bible (this sheet has been running for ages) and I don't recall ever seeing them much higher.
https://docs.google.com/spreadsheets/d/145iM6uuFS9m-Rul65--e…
Please don't try "calling people out" when you very clearly aren't learned on the topic. They have never, ever, ever had "the best rates". That is a complete and total lie. Even if you do restrict to a "no deposit" rule.
There's still no desktop access, at all. Have fun with eofy reporting and searches tapping away at your tiny rectangle. Or even just raw, basic audit of your personal transactions.
Oh I stand corrected, it has desktop access if you code your own desktop access. Rofl.
what a joke , $10 bonus to sign up a bank
It’sfreerealestate.jpg
I've gotten 100, 75 and 50 before. Not sure I want to waste my time for $10, especially since it seems like you need to use the app. I prefer to use a web browser.
If you ever need to do international transfers, Wise is pretty good.
I agree but also am in the camp of $10 is $10
It took 5 minutes to sign up and another 2 minutes to deposit and withdraw the money.
That's equivalent to $85/hr.
Yeah, instead they should offer a 40%p.a. Credit card with like 100 bucks of points you can only exchange for gift cards , then they'll be a real bank.
Great app, but terrible savings rate that you have to jump through hoops to get
Agreed, great app but savings rate always lower than competitions.
Yeah I don't use it for savings, just for everyday.
Same. The chat-style approach to sending and receiving money is really nice visual approach. I use it like a post office lol to move money around when needed.
Yeah my day to day spending is with UP. Main savings with BOQ.
All Post Offices accept cash deposits for the bank.
It’s instant at AusPost. What are you talking about?
Just use another account (e.g. Commbank) for ATM deposits. Transfer is instant with PayID
Yes, I've had to do this, but I wanted to close my CommBank and only have the one account. It's just not ideal. I'd like to be able to deposit cash. Any other bank can do it.
Macquarie can't. ubank can't. And most other non-major players have limited branches. Up is quite clearly an online (neo)bank.
Besides, there's nothing appealing about it for me. Its only differentiator is a fancy app and hip marketing "for the youths".
You can deposit at any Auspost.
Yeah I mean PayID/Osko, Bank Transfer, Bank@Post, Beem and others are all really difficult to use. If only they had a branch which would accept my lumps of cash so I can take time out of my day to commute to it, interact with a soulless teller and get a paper receipt.
/s
I need to deposit cash in to my bank. It's how I get paid. I'm a broke mature age student and I am selling heaps of stuff on Gumtree. When I tried switching banks I ended up not being able to pay rent because I was waiting for the cash to come through the post office. It's untenable for me.
You can deposit cash at any Bendigo bank location or via Australia Post using the Bank@Post service.
@Kyle-K: Their support chat told me I can only deposit with the 5 day waiting period at the post. I'll try the Bendigo bank. Thanks
I ended up not being able to pay rent because I was waiting for the cash to come through the post office.
Bank@Post is instantly deposited into UP?
Don't understand? They have BSB/Account number just like any other bank?
I can't deposit physical cash. I do a lot of secondhand restoration work. It's mostly cash in and out.
8 literal simps for a bank and counting, please downvote me for sharing my genuinely difficult experience in getting money to pay for rent with a new bank. Great community guys.
Because having two bank accounts is too hard :(
It's because you're straight up wrong. Stop repeating incorrect info. Cash deposits at aus post are in your account before you leave the post office
Been with em a couple years, and they have the slickest banking app I've ever used. Not sure if $10 is worth the hassle of changing banks but if you need a bank anyway, they're good
Because I've been using OzBargain for years, I now no longer need to change banks for $10, but I'm sure there was a time I used to.
It's less a bank to change to, more a bonus card account to compliment your existing accounts.
It's just an app, no locations.
As someone who shift-works, literally no bank has locations for me.
It's visually slick. It lacks, just like the bank itself, a shitload of basic banking features once you look past the metrics and eye candy.
Can you name some? It does everything I've ever needed it to do.
Not on desktop, it hasn't, has it sport.
@[Deactivated]: That's because it's a digital first mobile play why would there be a desktop solution. The category that up the app was developed in it's very common here and international not to have desktop versions.
@Kyle-K: I don't care. It's corner cutting and is a lack of a feature, no matter which way you cut it.
If your banking needs are unbelievably simple, good for you. But when a comparative statement like its a "great" bank are made, it's objectively false.
Yeah, I'm curious too, I don't miss a thing, and I really enjoy the loads of features it has that no other bank app has.
love up bank
I also agree. Up are awesome.
Not doubt they got the best app plus their debit card colour is dope. Everyone asked me about it when i pulled it out.
What colour is the card? Possible to post a screenshot of the app?
send us a pic of your card too. both sides please.
It's the same $10 they split, just got the one person.
I'm pretty sure they got rid of the $5 each system. Now its referee gets $5, and referrer enters a draw to win money.
Ah fair. I'm probably at the referral cap then.
What's UpBank?
Nothing much. What's up with you?.
I notice there are more replies. Which is weird, since this is the answer.
It's a front end that has a reputation for neat features. Like you can have a stack of mini accounts that track savings. A banking app that's fun to use and does stuff other apps don't,…
neobank owned by bendigo bank
The app and customer service is outstanding.
What are the terms and conditions to get the $10? Deposit size, duration etc ?
Make one deposit of any amount. I did 6c then cashed out immediately
How long does it take to sign up and how quick do you get the $10?
EDIT
Takes about 5 minutes to sign up and you get the $10 instantly.
But you can't withdraw the money until you do an external transfer into the account.
That took me a couple extra minutes to okso in the 6c I had left in my account.Withdrew the money already.
Time to close the account
Who owns "Up Bank"
Bendigo
I got $20 by using code 2020 still valid
Dammit!
My fault for being an early adopter.
What's the chance I can sign up for a second account?
zero cuz you already gave them your details
Code didnt work for me REDDIT10 worked though but didnt want to go through verifaction for 10 bucks.
I recommend it as a basic spendings card, it's Bendigo Bank & the app is very good.
You must've been the last one then. Bugger.
When did you sign up? How soon did you get the $20, did you need to buy anything?
Please use referral links.
Been using UP for a few years now. I put my entertainment money in there each pay so I can watch my spending and keep it seperate from other important accounts. Helps me budget anyway. Nice app - the chat support is pretty quick and friendly too.
Big recommend!
I was sitting on a dormant up account for a couple of years but moved my daily accounts there when they brought out 2up. I don’t think anywhere else does joint accounts anywhere near as well.
The savings rate is dead average though so don’t plan on parking all your money there.
savebo
There's no where to put the invite code before doing the id verification
I've had an Up account for years, and have moved rather large sums (for me, anyway) through it. Yesterday I deposited $1200 to my Up account from my own Macquarie account and was greeted with a big questionnaire about where the money came from, who it belonged to, what the source of it was (ie. salary) etc.
Anyone else ever had that before? It was almost like they thought I was laundering my own money lol. After I answered the questions it wasn't an issue, the funds were there and I was able to transact with them as normal.
Personally love the app but morally I hate them. My partner has never been able to open an account with them despite having Bendigo accounts. AFCA complaint didn't resolve it either.
What is it with users negging you when your view doesn't align with them. It's ok to have a difference of opinion.
tell me about it…. lol
if we didn't have real life experiences here, good and bad, how would people be able to make a informed decision if a product is right for them?
It's not very useful without knowing the reason. For all we know, his partner was just convicted of sending funds to "terrorists".
Which totally explains how she still has accounts open with the only actual bank in this discussion, Bendigo. That was a really, really stupid whataboutism.
i wanna sign up and try the 2020 code, however is there a way to try the code before completing the ID verification? I dont want to waste a go at signing up if I cannot get the $20
perhaps instead of downvoting me, take a screenshot of the app where the code section is so we can see where you should find it
Try not to use the referral link to sign up, it should let you put the code before verification.
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I've been pretty happy with this bank - great app, and great for joint account ability too.