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Get $50 after 3 Card Purchases within 30 Days of Receiving Invitation (Existing Save & Spend Customers Who Upgrade) @ ubank


In 2021, we announced that UBank and 86 400 were coming together to create a streamlined digital banking experience. This new chapter gave us the opportunity to upgrade our banking platform and bring a new experience to our customers

Terms and conditions
>The Upgrade Bonus offer will run from 1 September 2022 to 31 March 2023 and is available to all eligible ubank customers who meet the Upgrade Bonus Offer Criteria. The Upgrade Bonus offer cannot be used in conjunction with any other offer (unless we determine otherwise).

The Upgrade Bonus offer will run from 1 September 2022 to 30 June 2023 and is available to all eligible ubank customers who meet the Upgrade Bonus Offer Criteria. The Upgrade Bonus offer cannot be used in conjunction with any other offer (unless we determine otherwise).

The offer is limited to one bonus payment per customer.

You are an eligible customer if you:

  • are an ‘original’ ubank customer with a Save account and are upgraded to the new ubank experience (customers who were previously original ubank customers and closed their accounts are not eligible for this offer); and
  • within the offer period, have or open a ubank Spend account.

To meet the Upgrade Bonus Offer Criteria, you must make 3 purchases using your ubank debit card (including digital wallets), that are made and settled within 30 days of receiving an SMS from us saying you’re ready to upgrade.

A card transaction will only be considered “settled” once it is fully processed to your account and no longer showing as “pending” in your transaction history.

Eligible customers who meet the Upgrade Bonus Offer Criteria will receive a payment of $50 into their Spend account within a few days of fulfilling those criteria.

Referral Links

Referral: random (913)

Referrer and referee each receive $10 after referee makes 5 settled card purchases within 30 days.

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closed Comments

  • +3

    How do I know if I've upgraded and when I had upgraded?

    • I got an e-mail when I got upgraded today

      • How did you upgrade?

        • +6

          … by waiting?

          • @kerfuffle: I assumed once you get the message you had to do something? Not the case?

            • @tabboo: All I had to do was log in on the new website and app after I got upgraded.

        • Did you have to do anything to upgrade?

      • Did you get a new debit card ? I thought they were changing our debit cards as part of the upgrade. Do the transactions need to be on the new one?

        • +1

          It's in the post. Already activated my digital one.

          • -1

            @kerfuffle: I actually got it in the post yesterday but didn’t know until this morning

        • +3

          Yes, I received a new debit card which mentioned this deal. The transactions need to be on the new card (or the digital wallet equivalent) but apparantly you also need to wait for an sms confirming you are ready for the update. The 30 days starts from the day you receive this sms and the letter with the physical card explains this.

      • Have you got any credits into your account?

        For some reason I have credits into all of my savings accounts ranging from $7-$52 with the description "- Openingtransfer". Not sure why that is… maybe interest accrued MTD on the legacy accounts?

        • -1

          Yep, same. I also assumed it was the interest accrued

        • Same here with the ‘Openingtransfer’
          I did some quick maths based on 3.6% prorata for the amount of days i had the old account open this month and it works out about right

          So yes I would say it’s the interest being transferred from the old ubank

  • +2

    If I am a 86400 that converted to a ubank does that count?

    • me too. and I don't think so 😞

      tho I wonder if it's worth making 3 small transactions anyway.. maybe.. just in case ? lol.

      I've had a 86400 account for a while now but very rarely ever use it.

  • +8

    What happened to the Sweeps feature?
    Automated sweeps are not available on the new app. If you had sweeps setup on your original ubank account, these will be cancelled. As an alternative, you can set up regular payments between your accounts.

    • +11

      They took our sweeps!

      • +4

        Dey took our swerps

      • +4

        Sooty will not be happy

        • +4

          He may even Soo

        • +1

          Quite honestly, he was being held back

      • +3

        Dey took our jerbs.

    • Does that prevent my current method of using the account: all the cash is in the high interest, direct debits come out of the transaction account but pulls money through from the savings account.

      If so, any other banks offering a suitable replacement?

      • +4

        You can direct debit/bpay from savings account now.

        Or you can switch to Macq, they pay a high interest on their transaction account.

        • +2

          OK - so need to change all direct debits to a different account number - what a pain. $50 is a small contribution towards the pain.

          I actually liked the inability of the savings account to take direct debit — that account number could be tossed around with no security risk — it only could accept money.

          • +2

            @factor: They automatically transferred all my Direct Debits that were done from ubank to the save account. But if you have companies pulling from the spend account then you will have to manually change those.

            • @petestrash: I wonder if that magic is a temporary routing-through of the Direct Debit from old account to new account. Or, does this somehow permanently update. Maybe I'll try doing nothing! I've got my first SMS and my card, so changeover is happening soon.

      • +3

        86400 customer here. They allow you to pay all bills money transfers out of savings account. The only thi h spend is needed for is card transactions.
        You can also set a push notification if your balance drops below a set amount. I guess this is their ‘sweeps’ feature

  • wonder what the trigger is for when your account is selected as 'valid' to be 'upgraded'

    not sure how its an upgrade though

    • My assumption is if you're a ubank customer with a usave account and you have had this account before the whole 86400 merger then you are eligible for the "upgrade" and the $50 offer (once you receive the sms confirming the upgrade).

      I have not received the sms yet, but I did receive the letter and the new look card.

      • Does it have to be SMS? I only received e-mails (yes they have my number)

        • My letter says to wait for an sms from ubank saying you're ready to upgrade and that the 30 days starts from the day you receive the sms.

          • +1

            @WorkingLowJam: Eh. Guess I'll buy three $1 items from Coles or something and see what happens (the only SMS I got was about my new debit card)

  • +5

    So, if you have an account with the new UBank (formerly 86400), and the old UBank, I assume you are not eligible for this promotion.

    I guess I will play the waiting game, and see.

    • +1

      I’m in the same boat, will update you if I get the offer.

  • This seems quite nice, I was getting jealous of the deals they had for new customers.

    Still waiting to be upgraded.

  • Guess I'll wait for the SMS.

  • +1

    anything for new customers?

  • Thanks OP, I'll keep an eye out

  • Got the $50 yesterday. Thanks Ubank.

    • +4

      No, thank you for being a valued UBank customer!

    • did you get an sms? i only got the email saying it's ready to upgrade

      • I got an sms

  • +5

    So damn confusing, NAB! YOU'VE DONE IT AGAIN!

    tl;dr = if you login at ubank and are redirected to the black and white 'old'/legacy ubank web page, you've not been upgraded… yet

    • Yep I got redirected to the god awful green, black and white page (vomit emoji)

    • When will I be upgraded?

    We’ll be contacting customers in the coming months with next steps for their USpend and USave accounts. To make sure we can reach you, please check that your email address and mobile number are up to date via the current UBank app or online banking.

    Until then, just sit tight and keep using your account the same way you always have. We promise we’ll reach out to you when you need to do something differently.

    from https://www.ubank.com.au/upgrade/uspend

    and more info here depending on what accounts you currently hold: https://www.ubank.com.au/upgrade/

  • +2

    Is it a deal if the only action you can take is do nothing? 🤪

  • +7

    I'm confused as hell. If Ive been a member of both since before the merger am I eligible?

    • +2

      Your banking world is about to implode. Survive the collision, you will not

      • +1

        Any tips? Thinking I might put the lot in ubank and just keep 86400 for the debit card. Noticed all the accounts were called save, it hurt my head 😄

        • I wish I could help, but alas, I am even more confused than you

  • oh, i recently closed my original ubank account as I was no longer using it

  • +3

    Looks like this "upgrade" is about moving old ubank accounts to 86400's platform. I wonder how it affects people who have both accounts.

    • I’d imagine that sort of issue would greatly complicate the merging effort. The integration team might be annoyed enough to just delete you to simplify their lives

      • +2

        You can't just delete people any more.

        • Hillary Clinton has entered the chat

  • receiving an SMS from us saying you’re ready to upgrade.

    Oh right, that's the catch

  • +4

    I have accounts with both 86400 and original Ubank… the experience is confusing as hell

  • I have an account with both….. when do we get merged?

  • +4

    So those people who moved over themselves already and closed the old legacy accounts making things easier for ubank get SFA ?

    • Thanks for being an early adopter! (Never be an early adopter!)

  • +3

    I got moved over today. I think there was an email earlier this week saying accounts would start to be moved over.

    I would just be careful with transferring money to your legacy UBank accounts. I sent my pay check when I received it this morning, maybe 1-2 hours later I got moved, wasn't sure if my pay made it through to the right account (because the new accounts have new BSB and account numbers). Got a push notification tonight saying the money was transferred.

    PSA: make sure you update your BSB and account numbers after you get migrated over, UBank have auto-transfers set up but will remove them in a couple of weeks, or so I was told by the customer service rep when I called them today.

    • +11

      They have taken like a year to do this, but they are giving us 2 weeks to change our auto-debits.

  • +7

    I have both the original and new Ubank accounts and am not in a rush to be "upgraded". Besides having to change all automatic debits and losing the ability to get the bonus interest on $500k the worst part is not being able to link accounts and transfer $100k without having to call. With the new ubank, you have to ring for anything over $20k and I asked them just yesterday if they will keep the $100k transfer feature and was told it's not in the integration plan. The person seemed to know what she was talking about as she referred to linking when I had not. The ability to more money quickly is very valuable right now with the rates changing constantly. But I must admit it took less than 5 min to get thru on the phone but still better if you do not have to call. I will not be upgrading for 50 bucks they will have to carry me screaming to the new bank.

    • +2

      bonus interest on $500k

      You are aware that the ADI guarantee is up to $250K (combined) across all NAB deposit accounts under your name?

      Account linking, and sweeps are gone.
      The CS rep I have spoken to have mentioned that these features are in the roadmap of the new UBank platform.

      • NAB is too big to fail and will get bailed out.

      • +2

        Yes, I am aware but it's a very tiny risk.

    • Interesting point about the $500k. I have had to use my Macquarie (ING is capped) for the overflow but I also take the point about the tiny risk in the ADI guarantee.

    • How do/did you get the bonus interest on 500K, PDS has always been 250K for me?

      • +2

        I have the old UBank and the new ubank/old 86400. The limit is for each one. It works until they integrate them.

  • +6

    This is confusing as this is the first I've heard of this, I haven't received any emails or anything. Have had accounts with UBank for 10 years now.

    • Nothing in your junk inbox? For a while I didn't receive emails from UBank, but I think earlier this year when they started sending out rate hike emails they went to my junk inbox for some reason.

      • +2

        No I get them to my main mailbox. Been getting the rate hike emails, and whenever I transfer funds I get emails. I've never got an email about this upgrade.

    • I was in the same boat as you, the letter with the new ubank card and mention of this promo appeared out of nowhere.

      • Guess I just have to wait. The roll out seems very random.

  • -2

    Where can I buy the book: Hoops for Dummies?

    • +2

      Same place where you got Trolling for Dummies.

  • it says there: once you received sms.

    so everyone just wait for the sms (or email) before start spending 3x

  • Guess customers joined in recent months are not part of the upgrade? Because already on the new platform?

  • Can I open an old ubank now??

  • +3

    OMG how confusing!! So I just upgraded to the new app and now the account numbers / bsb have changed, is that correct?

    • +5

      that's what the $50 is for

      • Thanks, i also got 2 refunds issued to my (now old) debit card yesterday before the changeover, hopefully that'll come through even though it's the old card/account.

  • Anyone else having trouble upgrading by trying to add/open a USpend account on an old USave account? The app does not appear to be allowing it. Contemplating going down the ANZ App account route instead but thought I'd use an old Ubank account I have sitting around that has been inactive. But it won't allow me to open the Uspend which I gather is the only way to qualify for the bonus interest.

    • +1

      Because you're using old UBank …

      • So do I have to close that one and open a new one? That does not make sense as this deal is for existing customers who upgrade isn't it? So I need to be on "old" uBank to qualify.

        • +1

          By 'upgrading', they upgrade you from their end. You don't initiate it.

  • I have the assumption any 86:400 customers like myself will not get the upgrade as we already have access to all the 'new features' that are part of the upgrade.


    So does not look like any free $50 for us 86:400 customers :(

    • Wonder if we can cancel our accounts and start over lol

  • come on sms… hit me

    • UBank is being short with you

  • I got the email about the upgrade but still waiting for sms and letter/new debit card in the mail

  • +1

    Post merger name


  • No email(not in junk), no text, but got new card in mail. If I hadnt seen it here wouldn't know what was happening. Purchases I make before getting the text wont qualify for the $50???

    • The cards not active yet until you set up the new account?

      I've received the card too but I'm still waiting for the SMS

    • I got an SMS telling me that my new uBank Visa Debit card was arriving soon and that they will send another SMS as soon as it is time to upgrade.
      I have not gotten the next SMS either.

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