Hello,
Currently looking for a new general purpose debit card banking account. No Loans. Non Business.
I have read here that some people love Ubank, but the google reviews completely trash it.
Having a branch in Sydney cbd is a bonus but not necessary.
Good interest rates without any hoops to jump through.
Don't care about rewards or points.
Phone App and internet banking which works well.
Non-insulting wait times on the phone (important if no physical branch).
I added a poll, please enjoy.
ANZ Plus?
The regular version of that digital service which includes popping into a branch if ever needed. Either one should be fine.
No way, anz is the dinosaur among the big 4 in terms of tech and features implementation. Right now their app doesn't even have the option to notify you the changes in your balance when almost everyone else did it a good few years ago.
Non-insulting wait times on the phone
How often are you calling the bank about an everyday debit account issue.
I have been ubank user since April 2021, the number of times to call or visit them: 0
the number of times to call or visit them: 0
Which conveniently is also the number of times they would answer the phone while you sit on hold if you called them currently :)
Even if only once. But for me maybe 6 times a year.
Some banks, ubank reportedly , have long wait times to speak to a human.
Plus some Apps and Inet banking don't let you enter a custom address for change of address, you are forced to pick from their list of wrong addresses or deal with a human.
ING - not as good as in the past due to deposit requirements and five transactions per month
Macquarie bank - surprisingly good app and web app. Access to some discounted GCs. No monthly account fee
HSBC - pretty rubbish app but 2% cashback on contactless payments under AUD100. No monthly account fee
Thanks, currently I am leaning towards Macquarie Bank.
Why are so many people leaving Up?
So Sophie tried to close her account and Up just ignored her until she posted on product review, their reply LOL
Hey Sophie,
I'm really sorry for the poor experience you've had off boarding from us. The reason this has taken so long to process is because there is currently a large backlog for these specific types of requests.
NAB? No fees or minimum requirements.
I already have a nab account and interest is worse than terrible, is there a specific nab account with decent interest?
iSaver linked to the debit account. But looks like a 4 month intro offer for 3.75%. Base rate 1.1%
ING phone wait times supposed to have smashed the 4h barrier.
Missing is the Wichbank that has turned into a Wherebank…..
So, a fast marathon runner can call ING from home, put the phone down, run 42km, go to the beach and have a swim, grab a burger, come home, have a power nap, pick up the phone and wait 5 mins to get answered?
I have ING mainly for their decent interest rate for saving account. For daily transaction, I recommend Macquarie:
* You can earn interest even with the transaction account. Current variable rate: 3.7% pa (same rate as their saving account)
* Can buy discounted gift card from their Macquarie Marketplace. Eg: Woolworths, Coles, Kmart, etc. Discount rate might not be the best for some retailers, but it is very convenient as you pay from your transaction account seamlessly.
* No fee, no hoops to jump compare to ING. Interest rate for saving account is lower than ING though.
* In my opinion, good app design.
* Happy with the bank so far, haven’t had the chance or need to contact their customer service.
Thanks Bayleaf, good info.
All of the above plus they have a branch, which you said would be a bonus.
1 Shelley Street, Sydney if you wanted to see if it’s convenient to access.
pretty sure HSBC cash back paywave is still best, if you dont mind a UK/Chinese company that still operates in and supports Russian businesses/economy.
I've actually had all the options on here and still do except for one which is ING.
Up as my primary bank account with Macquarie for savings and my secondary bank account. :86 400 which is now the new :ubank platform serves as my backup. I have a breakdown you can check out here
Here's some great community resources OzBargain has a wiki here with some good account choices and a yearly poll OpenComparison has a spreadsheet comparing all the best savings accounts here.
NAB bought :86 400 and then merged it with UBank to create :ubank but essentially it's :86 400's tech and people and they're merging legacy UBank customers onto that platform slowly, most of the issues at the moment are related to legacy customers getting moved, issues have delayed phone response for new :ubank and former :86 400 customers while they deal with legacy migration issues.
ING, they just not worth it for they're eroded, hoop jumping product offering just for a marginal jump in savings they've also had problems with their call centres as of late.
Good to know, it's great getting insight other than just plain google reviews or product review. Thanks.
Thanks everyone for taking part in this poll and providing your valuable insight.
I think I will go with Macquarie Bank.
ANZ has been great for me. No issues at all with them. The app is pretty good, supports Apple Pay and they have 2FA for large purchases. All I need.