• long running

$10-$15 for Both Referrer and Referee (Was $5-$10) @ Up Bank


Up Bank have increased their referral program from $5-$10 → $10-$15 for both referrer and referee. The specific value is visible after clicking the referral generator.

This is based on the number of years that the referrer has been with Up Bank as below:

A once off bonus payment will also be paid to invitees when they join Up and become a customer (by passing KYC) from 12:00pm AEDT 3 April 2024. In the inviter’s first year as an Upsider the standard value of this bonus payment for each invitee is $10. After 1 year as an Upsider that becomes $11 for the invitee, after 2 years it becomes $12, and so on each year that passes up to a maximum cap of $15. We’ll let you know when you hit these milestones in‑app.

Pretty straightforward method for getting your bonus cash as per simplerick:

  • Step 1) Install Up Bank iOS or Up Bank Android from your app store (Do not launch app yet)
  • Step 2) Click on the referral generator via your mobile to find a referral, then click on Join Up button to launch into the app
  • Step 3) Continue sign up process to verify ID etc.
  • Step 4) Profit, or at this rate use your referral money to pay off your ever cheaper Tesla

Each referral also chucks you into a referral draw for $100 each week.

Pretty good everyday mobile bank, although interest rate for savings has fallen behind the other digital banks over the past year.

They have been constantly updating the app over the past few years and some features are completely unique to the Up ecosystem

  • PayID usernames linked to Up bank
  • In app chat support that is very responsive
  • Maybuy (saving for specific item)
  • A visually satisfying product tree called the Tree of Up

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.

Related Stores

Up Bank
Up Bank


  • I've been an 'Upsider' for over 4 years but my offer is $15, shouldn't mine be $14? (totally not complaining!)

    • +1

      Same here, turned 4 in February this year, also got $15

      • Weird, mine was 4 in December last year and is $14 lol

    • From their website:

      Please note that due to caching on some social media sites, artwork shown may show a higher value than the amount eligible.

      • I won't reveal my UP handle, but the text confirms it's $15 for mine. I checked a couple of others and theirs say $11 and $13.

  • +4

    Good bank, good app, free money, why not?

    • +1

      why not?

      No internet banking on the website

      • +4

        No internet banking on the website

        You mean no giant security hole.

        • Well that's one reason why not to use them. I'm far from a cyber security expert, and sometimes prefer banking on my PC, but I'm still with Up.

          This could be a dealbreaker for someone with an incompatible phone for example

  • +11

    Highly recommend UP bank. Great app. It's now my main bank and in the process of refinancing with them too.

    Support is always quick to reply if you ever have any questions or issues.

    • I've refinanced. Refinanced at 6% and within a week it dropped to 5.95%.

      The app shows $15 referral from today as well.

      • How did you find the process with them? Will be looking at it in a few months and haven’t refinanced before

        • Process was annoyingly manual. They have all my statements but I had to enter expenses for different criteria (groceries, medical, insurances) etc manually where as a broker I went through I upload statements and expenses are automatically grabbed from statements.

          I was also denied initially as I put I was defacto which behind the scenes increased my expenses although we're financially Independant.

          Company car, rent income from housemates and assets have no impact on serviceability (unless I reduced the loan by my entire savings of 60k)

          My saving grace after I escalated my case was the supervisor mentioned the above as well as my HECS debt increased my expenses by several hundred a month. As this had 17k remaining, I asked if paying this off would meet serviceability which it did. So I used 17k of savings instead of the entire amount of 60k the first guy said I had to do and it went smooth from there. (apart from the instant house valuation showing 400k in there system which after they sent someone out for free came back at 730k)

    • +1

      Checked the last post and liked the format! Will credit!

      • sharing is caring :)

  • +5

    Been using them for years when travelling aboard, and it’s amazing. I recommend to any friends or family that ask what I use and they also have great feedback!

    • Interesting. How do they compare with other Mastercard operators like Macquarie for overseas ATMs?

      • +2

        It’s the Mastercard rates so same same and also get cash out at ATMs with no issues, plus in Bali the rate is usually better than the cash rate.

    • On their website, free international atm withdrew at most major banks. Do they have a list of “major banks”?

      • +1

        Good question, I’d like to know too.

        *EDIT: I asked support and they said:
        We don't have a list, however it's generally the 'bigger' banks rather than the smaller independent banks.

        We are technically unable to identify which financial institutions will or will not charge a fee for usage, so we're unable to provide a list.

        • technically unable to identify

          Maybe not able with complete certainty, but they could use recent transaction data to make a very very good guess if a few customers have tried it already?

          • +1

            @BobLim: Yeah true but I guess they also don’t want to provide a list as that could also change as it’s dependent on each bank. I always try an ATM and see if there’s a fee then decide if I want to continue…

        • Such a crap answer by them.

      • -1

        They use Wise rate and almost same ATMs.
        you can use ATM fee saver app to find out depending on your location.

      • +2

        I was in USA recently and took cash out three times.

        All ATM's had fees between $2.50 and $5
        The first two were I believe random ATM's, the $5 fee was a Wells Fargo bank atm.

        Using my UP card however had no fees and worked very well.

      • I am the biggest up fan but this ^ is my biggest criticism. I've asked, they've admitted they don't. I told them what they've written is misleading. They said thanks for your feedback we'll pass it on.

        In my experience as a traveller, all ATMs in EU has a fee. Some ATMs in UK were free such as at a Tesco. ATMs in Bali were free! Just never accept an ATM currency conversion.

    • Is there a limit for atm withdrawals overseas? Wise has a limit per month but couldn’t see any documented limits for Up.

      • +1

        I’ve never heard of one and we’ve used it a few times in a month. Not sure why any bank would even do that…

      • +1

        I took $900 USD out within a month in USA

      • +2

        No limits this is an unrestricted proper bank not a transfer money service/travel card.

      • only limit is the card limit. Wise is not great for taking cash out, it has only 2 free withdrawals a month.

        Wise is still a good card to have though as a backup.

  • +5

    I just moved our homeloan to them and the process was pretty seamless. 5.95% with unlimited offset accounts and no fees

  • +1

    Isn’t U bank better? $30 for both the referrer and the referee after they make 5 transactions in 30 days?

    • +10

      Oh wow I can only choose one!

    • Only for citizens or PR 😬
      You also try Revolut - they give 50/60/80/100/110 (depends on the position of the Moon) to referee

  • +1

    Mine is $14, I'll reach 5yrs this year.

    I get annoyed at the lack of app updates it used to get, but then I check the other bank apps and it's still far ahead.

  • +1

    Not even a lobster.

  • +1

    Good bank 🏦

  • Nice

  • +5

    I really like Up. No fees incl. overseas ATMs, best bank app I ever used, and the only bank in Aus to provide a read-only API directly to customers. The two big flaws with them is the lack of phone support and a bad interest rate post-corona, the latter caused me to move away.

  • -4

    Using Upwork as an "expense bucket" account. Average app, not sure why everyone's so hyped about it. They've started to promote their paid services, which isn't great. And rates on their savers accounts are lower than the big banks. 4.35% @ Up vs 4.5% @ CommBank

  • Long time user and have home loan with them which works great, with virtually unlimited number of micro savings accounts acting as offset

  • -2

    For anyone floating around this thread, that might be interested late last year I launched an unofficial up related community on discord you can check it out here

  • Love up
    Only bank that I have saved money with

  • Been using for 2yrs, highly recommend

  • +3

    Yeah been w up for 5 years, and it's miles ahead of any other banking app out there. I've also had fantastic support whenever I have had a question or issue. Only random thing is anytime I use the card people look at it like they think it's a fake ( bright orangey}😀

  • -1

    What's Up Bank?

  • -2

    Referral system is a bit unfair as users can keep clicking the link until they find a $15 link.

    • +1

      I don’t think there is any way to correct for this using the Ozbargain referral system. It’s a reward for early adopters of these mobile banks.

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