ubank Scheduled Payments Are Dissapointing

Danam on 02/10/2023 - 13:19

This is just a PSA for anyone contemplating the use of UBank's scheduled payment system.

A transfer that has been scheduled to happen on a given date is sent from your account at midnight on that day. To rub salt in the wound, there is zero chance of the money arriving at it's destination on that date because scheduled transfers do not appear to use the same instant payment system that a manual transfer would.

There is no way (I did ask them) to trigger the transfer in the morning, which was always my experience with CBA.

The day after, I manually re-sent my scheduled transfers and they all reached their destinations instantly. The scheduled payments however are all still in limbo. UBank tell me they may take a couple of days. They also say that scheduled transfers try to use the fastest payment method and can happen at any time during the day. I don't believe that.

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Comments

  • capslock on 02/10/2023 - 13:24
    +6

    Most banks process scheduled transfers overnight, sometimes longer if it's the first time you are transferring to that account.

    Don't schedule transfers if you want it done instantly.

    • HeWhoKnows on 03/10/2023 - 14:29
      +1

      Futhermore, "scheduled payments" do NOT go via the OSKO instant payment system.
      They go via the normal payment channel which can take 24 hours or more but normally the next day.

      So OP's scheduled payments are not in 'limbo" but on thier way there.
      OP needs to learn to be patient, stop complaining and understand how the payments system works.

      Hence it is OPs complaint that is disappointing.

      Personally I have found uBank excellent in all respects…
      Great products and excellent service!

  • hasher22 on 02/10/2023 - 13:30
    +5

    I wouldn't use Ubank for everyday banking, they are only good at their savings account with 1 hurdle.

    Ubank lacks alot of features and their customer service gives different information each time, from experience, they don't even know their own product.

    1. The website state you can select your dates while travelling overseas in the app, you can't. You have to call customer service, after multiple feedback and even 1 ombudsman complaint about a separate issue, the website still isn't updated and the app still doesn't have this feature when multiple people have given feedback about this over 1 year ago.

    2. I called once to be a TPA on my mothers account, rep got my name, a pin and DOB and he said I am now a TPA. I called and 2nd rep said I am not a TPA, and I said I was from the first rep, she said the first rep was wrong and they have NO SUCH policy. Ubank sent me the form and they said to fill it out, I needed to go to a justice of the peace to sight my ID, but a JP CANNOT sign ubanks form because legally they can only sign photocopies of ID not a form to say they sighted my ID is legit. The JP handed me the laws regarding this, I handed it back to uBank and said the form asks a JP to sign was an illegal act. The rep had no clue, which is fine, but she escalated it. No call back from uBank after 1 month, went to the ombudsman regarding the form and how no JP will sign it and I gave them the law clause the JP gave me. The complaints team DID NOT acknowledge it was illegal or the their form needed to be changed to comply with laws and JPs, they just said I now needed to be a POA and they fully ignored the form complaint.

    Conclusion: uBank in general as everyday banking and customer service is useless, use them for their savings account only.

    • dtc on 02/10/2023 - 13:53
      +1

      JPs can absolutely verify identity by viewing your ID and then signing a form saying they have done so. They do the 100 point ID check all the time. Are you sure you were asking the JP for the right thing? What is the law you were cited?

      Every bank will require POA, court order or a consent form signed by the account holder in order to give you access to the account.

      • hasher22 on 02/10/2023 - 13:54

        JPs cannot sign a form stating the ID is true likeness of a person, they can only sign copies of given IDs.

        Edit: This is what the JP highlighted: https://ibb.co/LRmrTdP

        The JP had a sleeve full of this page already to go and highlighted, so he must get this enquiry alot.

    • Danam on 02/10/2023 - 14:17

      I think I agree about not using them for everyday banking. I've always just used the savings account. However the spending account has been good for rare overseas Visa payments (fee free).

    • doczoid on 03/10/2023 - 06:52
      +1

      You can now select travel dates on the app

      • DamonT on 03/10/2023 - 08:17

        Used to be able to do it with the old app, now the new app finally has the feature.

  • CyberMurning on 02/10/2023 - 13:53

    it was okay - not best - before merging.
    can anyone confirm that we cannot see the old ubank accounts transactions history for more than 6 months ago?

    • Danam on 02/10/2023 - 14:14
      +3

      I can only access statements for 3 months prior to my migration to new ubank. No transactions from old ubank are listed in the normal transactions page however.

      For the 13 years I was with old ubank they were been great, but yes, new ubank is a bit of a step backwards.

      • CyberMurning on 02/10/2023 - 14:35
        -1

        thanks for confirming i have spent hours last night trying to check transactions back in beginning 2022 for taxation purposes. seriously… how can NAB let this mob running a bank…

  • capslock janitor on 02/10/2023 - 16:39

    you mean at midnight at that night ?

    • Danam on 02/10/2023 - 16:49
      +2

      Yeah, as in the last possible moment to technically have been made on the scheduled day.

      • capslock janitor on 02/10/2023 - 16:57

        i see so techincially 11:59pm

        • ssfps on 02/10/2023 - 18:11

          11:59:999.99999 recurring infinitely… so it's infinitely close to midnight but not quite there!

  • jackofspade on 02/10/2023 - 22:44

    My ubank scheduled payment for today occurred at 9:30am and arrived at the destination account a few hours later.

    • Danam on 03/10/2023 - 11:38

      I thought I could just set it to happen the day before, so the money is received on the following day. Many folks have commented online that it happens at midnight, except when it doesn't. I'm not sure there is a reliable, automated way of having the money arrive at it's destination on a given day.

  • double_J on 03/10/2023 - 07:49

    My CBA scheduled transfer is not instant as well. I normally transfer the day before to my ING for BPay utility payment on the next day from my ING account.

  • Taro Milk Tea on 03/10/2023 - 09:50
    +1

    STG is worse - at least UBank processed next day regardless its weekend or not, STG scheduled payment can only be done on working days

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