ubank: From 01 Oct 2025, Save Account Balance Must Grow to Earn Bonus Interest

SBOB on 15/07/2025 - 07:48
Last edited 15/07/2025 - 08:04 by 1 other user

As this just isn't the usual tweak to interest rates, and may impact those that use their account where the balance doesn't always increase, worth noting the new change ubank just announced on their website.

I know for me that makes ubank unsuitable and now need to find an alternative for daily banking over the new couple months.

https://www.ubank.com.au/savings-update

From 1 October 2025 (so there’s nothing for you to do now)

We’re evolving the way you qualify for bonus interest on your Save accounts. From 1 October 2025, you’ll need to grow your combined balance across all your Save accounts (excluding linked offsets and excluding any interest credits) by $1 each month.

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  • cashless on 15/07/2025 - 08:25
    +45

    They're also reducing, from today, the key interest rate for savings <$100k from 4.85% to 4.6%.
    I thought the RBA held the base rate for July?
    "designed to make things easier for you"
    They only switched to 2 tier interest rates a few months back, now they're switching back.
    Sounds like Trump is in charge of monetary policy at uBank

    • sghetti on 15/07/2025 - 09:53
      +15

      Sneaky change. They're introduced an intro 4 month rate for new users at 5.00%. Shafting existing customers at the same time. Net result will probably be no change to customer numbers as they replace existing customers with new customers on the intro rate.

    • theknight27 on 15/07/2025 - 12:27
      +14

      The framing of the changes as "to make things easier to understand" and then sneakily adding an additional challenging requirement is so shady.

    • surfingedge on 15/07/2025 - 11:20
      +1

      They never said their rates have to follow RBA

      Ubank already dropped from 5.5 to 5.1 when RBA first cut by 0.25%

    • petestrash on 16/07/2025 - 07:10
      +1

      It's pretty shitty that in their terms they can change the interest rate without any warning, up to the day of the change. Most other changes to the account require them to give 30 days notice.

    • cannedhams on 16/07/2025 - 10:04
      +1

      what a load of steaming horse puckey:-

      "we're making things easier for you"

      my arse

  • BigTop on 15/07/2025 - 08:00
    +42

    Turning into a joke now just to get a fair interest rate combined with a functional bank account. That leaves ME bank to offer reasonable minimal hoop interest, but a large $2000 monthly deposit requirement, or Macquarie with no hoops. I’d rather stick my cash under a mattress than give the banks cheap access to my money.

    • Dr Phil on 16/07/2025 - 21:21
      +8

      Well uBank have just extinguished thier wonderful competitive advantages. Therefore…….

      Macquarie Savings Account is now by far the best Savings account all around.

      • No hoops whatsover so you will ALWAYS earn your 4.5% interest without thinking about it
      • Full internet banking facilities including direct debits
      • 4.5% Rate applies up to $1M
      • By far the best bank in Australia with the highest share price

      Combine with a Macquarie transaction account if you want debit card facility

      • The best transaction account in Australia, also with no fees or hoops
      • The only transaction account that pays interest - currently 2.25%
      • Move money from your high interst savings account into your transaction account as required, on the spot, any time via the Macquarie app
      • Macquarie Platinum Debit Card benefits apply:- Lost Luggage Return, Card Purchase Cover and Wallet Guard Cover.
      • No Macquarie bank foreign exchange fees when purchasing or spending overseas
      • SBOB on 16/07/2025 - 21:41
        +9

        best bank in Australia with the highest share price

        Share price means nothing, you would be comparing market caps.
        Eg Macquarie is less than a 3rd of comm bank

          • Fobsessive on 18/07/2025 - 01:05
            +1

            @sangohan: Share price means nothing, you would be market comparing caps

          • T Man on 24/07/2025 - 10:59

            @sangohan: Share price going up is good for a company, yes. Current share price depends on the total market cap and number of shares on offer (so MacQ shares may not be as diluted / split as others, leading to a higher share price, but this doesn't mean they have better returns than CBA). e.g. if I split my shares 1 to 8, my company isn't doing any worse even though my share price just dropped to 1/8th of the former value.

            Realistically, you need to look at the dividend return of the bank as a percentage of investment, to determine if they're doing better or worse than others in terms of profitability.

    • topherboi on 15/07/2025 - 13:22
      +4

      I’d rather stick my cash under a mattress than give the banks cheap access to my money.

      Then do it, what's stopping you?

      • DoctorCalculon on 15/07/2025 - 21:14
        +4

        Talk is cheap?

        • topherboi on 15/07/2025 - 21:46

          But I want to have my money and earn interest on it too!

      • BigTop on 17/07/2025 - 13:44

        It’s getting to that point.

    • KangaDrew on 15/07/2025 - 11:32
      +2

      Can't you dump 2k into ME Bank then transfer it straight out like you can do with other banks?

      • md333 on 15/07/2025 - 12:53
        +3

        You can, although they did previously have a growth requirement as well. They dropped the growth requirement at the same time they dropped their interest rate to less competitive levels, so it wasn't very interesting at the time. They now look like the best option for high interest without a growth requirement. But I wouldn't be at all surprised if they drop their rates or add new conditions soon.

        ING hoops are pretty annoying but at least they are consistent and pay good interest.

        • KangaDrew on 15/07/2025 - 13:05

          I don't mind the transfer in/transfer out method as that can be automated to happen seamlessly behind the scenes. While I'm actively increasing my Save account balances with ubank each month as it is, I'm not too concerned about their new growth requirements. But I can appreciate that it causes resistance barriers and a more active management of accounts for others, so ubank's move is still pretty sh!tty.

          I'll just keep everything as is for now and see what happens with ME bank (and the offers from other banks) when the time comes.

    • Hadranius on 28/07/2025 - 10:59
      +1

      The greed of these banks never ceases to amaze me!

      Anything to screw people over, "oh how bad for you, your balance is $1 lower than last month, 0% interest for this month."

  • GettingThePlus190s on 15/07/2025 - 08:41
    +31

    Welp, time to finally close the account. Them reducing the functionality (no longer able to pay / direct debit from 'save ' account was already terrible.

    • markwid on 15/07/2025 - 17:03
      +1

      Yep, time to close this account. Just opened account with Macquarie today.

    • mecusherb on 16/07/2025 - 10:40

      Oh this annoyed the living piss out of me. I just wanted a savings account. Then I had a secondary for "savings/buffer" but had to open a transaction account to move money back to NAB.

      Might have to look into shifting my account as I can't be assed with this new requirement as well

    • stanstho on 17/07/2025 - 16:39

      Me too. I hate uBank so much. In past they used to auto-move funds from your savings into your transactions when the balance was too low if you made a tap and go card purchase.

      Then they also royally stuffed up the "sweeps" functionality they had previously - where you could set it to automatically (overnight every 24 hours iirc) top-up ("sweep") from savings to your transactions account when it the transactions got below a certain number.

      Those two changes royally screwed me and has caused so many payment declines because previously I never had to think about transferring funds from savings into transactions - suddenly I need to do it manually every time I pay for something (and don't get me started on how often the app is down for maintenance)

      Not to mention how they bungled the merger when acquired :86 400. Took me over a year to get my new card they sent me actually live.

  • txb on 15/07/2025 - 22:15
    +23

    From 1 October 2025 (so there’s nothing for uBank to do now)

    I’m evolving the way I engage with banks. From 1 October 2025, I’ll be closing my uBank account in response to the continued enshittification of savings conditions.

    This means that instead of growing my balance by a token $1 each month just to be eligible for bonus interest (which, let’s be honest, is looking more like a bonus chore), I’ll be reducing my balance to $0 and growing my peace of mind instead.

    For example, if my combined balance is $1000 at the end of September, it will be $0 and happily elsewhere by the end of October (bank fees and bureaucratic nonsense don’t count towards the joy of leaving).

    Just like uBank, I’ll treat each month as ending at 11:30pm (Sydney time) but with less hoop-jumping and more freedom.

    Don’t worry, there’s nothing uBank needs to do differently right now just prepare for my exit.
    For now, continue inventing new ways to make saving more complicated than it needs to be

    • squeeb on 16/07/2025 - 10:36
      +2

      Please send to UBank. In return you will receive a case reference number and no action.

  • Leiothrix on 15/07/2025 - 11:14
    +22

    I'll be changing my account to another bank.

    Make a purchase and it could cost an extra thousand dollars, that isn't really saving money.

    From a quick look around Macquarie looks the best, no deposit or growth requirements per month, 4.5% ongoing rate.

    From those mentioned above — using ongoing rates not bonus rates:
    BOQ SmartSaver: 4.75% & deposit $1k/mo + make 5 eligible transactions per month
    ME Bank SaveMe: 3.85% & make 4 Visa debit purchases per month
    ING Savings Maximiser: 5% & deposit $1k/mo + 5 purchases per month + grow account per month
    ING Savings Accelerator: 4.2% for balance > $150k, lower rates for lower balances.

    • Iggemo on 15/07/2025 - 11:20
      +3

      Thanks for the comparison. So Macquarie is just 4.5% and no hoops at all, none?

      • Leiothrix on 15/07/2025 - 11:27
        +15

        I'm just reading through the summary pages, but that is what it says:

        https://www.macquarie.com.au/everyday-banking/savings-account.html

        Unlike other high interest savings accounts, the Macquarie Savings Account is built without barriers. We don’t ask Australian savers to jump through hoops to meet requirements every month to keep earning our great savings rates.

        No monthly spend requirements to earn our great rate.

        No minimum monthly deposit requirements.

        No fees.

        • Iggemo on 15/07/2025 - 12:37

          I'll be moving there i think. Cheers !

          • Hangryuman on 15/07/2025 - 21:29
            -1

            @Iggemo: Beware - the more useful Macquarie Transaction account only pays 2.25%pa - it has a debit card, debit and mobile payments, Apple Pay and Gpay, ATM fee refunds in Oz, and transaction notifications - you must have a Transaction account

            The optional Macquarie Savings account currently offers 4.5%pa ongoing after 4.85%pa for the first 4 months on your first Macquarie account, but is less useful because it doesn't do the above

            at least that's my quick summary of https://www.macquarie.com.au/help/personal/transaction-and-s… - others can correct or advise

            so for the more useful account, 2.5%pa is kinda definitely meh …

            • bbinc on 16/07/2025 - 09:34
              +2

              @Hangryuman: This is correct, and useful for you to draw attention to it. It is however, easy to setup transfers from the Savings acct to the debit card, and keep a small balance in the debit card for spending needs. I find that easier than the hoops the others have.

              • Hangryuman on 16/07/2025 - 13:55
                +1

                @bbinc: Okay - then I might consider moving most from UBank to the Macq savings a/c for the 4.5% ongoing from 1 October

                and then transfer across from my Macq savings to top up my Macq transaction account as needed for my regular direct debits …

                Thanks !

                • timhn on 16/07/2025 - 19:24

                  @Hangryuman: You can do direct debit from Macquarie Savings account. It's a unique feature of Macquarie Bank.

        • engin3chas3r on 12/08/2025 - 18:32
          -2

          Recommend going with Macquarie. Lost my shit with INGs 5+ purchases. Where I did make 5 purchase before months end but they didn't count those transaction which were still Pending… Hence im planning to close the account soon

      • idonotknowwhy on 16/07/2025 - 00:50
        +2

        Correct. I accidentally left a few grand in there for a couple of years, and was pleasantly surprised to find it had been paying interest each month.

        It's now my main bank, and has the best app of all of them.

      • timwog on 15/07/2025 - 12:42
        +1

        Correct. No hoops whatsoever.

    • JHoliday on 15/07/2025 - 15:23

      What about ME HomeME?

      4.85% and $2000 deposit?

      • Leiothrix on 15/07/2025 - 15:31
        +1

        That is $2000 per month.

        4.85% only to the first $100k, after that it is 2.85%

  • CaptainJack on 15/07/2025 - 12:02
    +19

    Does anyone hate the language the banks use in these communications?

    "Evolving the way you qualify for interest". Do they mean de-evolving?

    • DoaAn on 15/07/2025 - 20:51
      +5

      They desperately try to make it sound like it's not enshitification. Like how Ubank claimed removing the ability to pay out of savings accounts was making things better for us.

  • scotty on 15/07/2025 - 09:23
    +18

    The very same reason why many people moved away from ING. In order to assure the balance increase at the end of each month, you'll need to leave some buffer in your Spending account that should have been in the Saver account earning interests. Then you might as well moving to a bank with lower interest rate but lower hurdle.

    • bamzero on 16/07/2025 - 12:16

      Exactly, and I hope Macquarie takes note and doesn't join the circus and start adding hoops.

      Maybe I'm just lazy, but I've been happy enough to go with them for the simple fact that it's nice and simple there. They use your money and give you a decent rate for it without account fees, minimum deposits, growing balances, minumum transactions or whatever else they come up with (you know, the way it used to be back when I was a young un :)

  • finbar on 15/07/2025 - 08:29
    +13

    Very disappointing news.

  • Gunther on 15/07/2025 - 09:56
    +13

    Brb opening Macquarie account…

  • Cluster on 17/07/2025 - 00:37
    +12

    UBank has followed ING's game plan: Implement as many trip hazards as possible to avoid paying bonus (the vast bulk) of interest.

    • Mad Max on 17/07/2025 - 12:53
      +3

      Yes, but at least with ING you get paid 5% interest to dodge trip hazards! UBank wants you to do it for 4.6%…

      • Neoika on 17/07/2025 - 12:55

        You forget to add: with no card purchase and much higher cap.

      • Fobsessive on 18/07/2025 - 01:15

        Isn't Ubank 5% up to $100k?

        • MeesusEff on 18/07/2025 - 01:35
          +2

          Nope, now its just a blanket 4.6% this month

          • Fobsessive on 19/07/2025 - 02:54
            +1

            @MeesusEff: Yikes. I joined 2 weeks ago and this is a horrible start.

    • Swa8821 on 17/07/2025 - 01:46

      true
      wonder if other banks implement, what will the average customer do

      • sangohan on 19/07/2025 - 20:34

        The bank that doesn't implement these hoops will get more deposits, which lowers their cost of capital in making loans. Unless if they can't get their loans up, which can happen i suppose.

  • MaxiPower on 15/07/2025 - 12:36
    +11

    The amount of changes you need to keep track of with this bank are crazy.

    I will put my hand up and say , yes I very rarely read these emails, and previously lost a bit of money when i never read the email that started i needed to deposit a certain amount each month to activate bonus interest. Had been with them for years, this was my set and forget account where if I had extra money it went into an account.

    Then came the one where I need to create a new savings account, get a card just to activate interest on my accounts?

    I joined this place when it was just an online thing….

    I cant keep up.

    What ever happen to : account gives you xx% interest.

    Now its like, twist this knob, press this button, jump over this square get your savings interest rate.

    Forget an email, withdrawal some $ from it. no soup for you.

    • try2bhelpful on 15/07/2025 - 13:23
      +2

      It is called the lazy tax. If you want the interest rates you jump through hoops. It is why the old “high interest” accounts drop off the rate to make way for the new ones.

  • Ave Maria on 20/07/2025 - 15:25
    +9

    Bank Saving accounts that currently have no increase (or a work around) and no ZERO withdrawals requirement (but may have applicable criteria for max rate).

    All of the below are fairly easy to open online by providing just a passport or driver licence + Medicare number (no requirement for a Selfie - at least in my own past experience).

    ING is the best rate on offer and even thought techically has a growth requirement (and hoops) those can be bypassed (documented elsewhere - just do a search).

    CBA is listed as I can easily visit a branch and can do up to $250K OSKO daily transfers to my other accounts and every now and then offers a competitive rate.

    St George is a very special case, as it used to be no limits & best rate but gradually became a very restrictive product (like what AMP and UBank have been up to), however it has accessible brances and a $100K daily OSKO limit from transaction account plus direct debits from Incentive account. It is much better than what Ubank offers at present.

    For a set & forget, no hoops, no hard limits account Macquarie bank is the clear winner. Which account to use is a personal choise based on priorities and convinience.

    Financial Institution Product Name Max Amount Interest Rate Card Trans Deposit to Transaction Grow by Daily Transfer Limit Scheduled Payments Direct Debit Useful Tips
    ING Bank Savings Maximiser $100K 5.00% 5 $1000 1 cent $20K - $5K OSKO - Higher via App - from Orange No No Buy 5x$1 Amazon Gift Cards. Flip between 2-3 accounts each month to bypass growth requirement.
    Members Equity Bank Home Saver $100K 4.85% N/A $2000 N/A $20K - $5K OSKO - Higher via App - from Spend No No Transfers between BOQ & MEB are instant.
    Bank of Queensland Smart Saver $250K 4.75% 5 $1000 N/A $25K - $5K OSKO - Higher via App - from Everyday No No Buy 5x$1 Amazon Gift Cards - Transfers between BOQ & MEB are instant.
    Great Southern Bank Home Saver $100K 4.75% 5 $2000 N/A $30K - $5K OSKO - Higher via Call Yes No Buy 5x$1 Amazon Gift Cards - Instant OSKO Transfer for Deposit in/out.
    St George Bank Incentive Saver $249.99K 4.65% N/A N/A $50 $100K - OSKO only from Freedom Account Yes Yes Multiple Incentive accounts allow unlimited deposits. Flip between account pairs to bypass growth requirement.
    Macquarie Bank Savings Account $1 Million 4.50% N/A N/A N/A $100K NPP with Authenticator App Yes Yes Multiple Accounts allowed. Macquarie Market Place offers Gift Card discounts.
    Commonwealth Bank Goal Saver No Limit 4.45% N/A N/A 1 cent $20K normally but can be increased permamently to $100K-$250K* OSKO No** No Flip between 2 Goal Saver accounts each month to bypass the growth requirement. *$100K at branch $250K relationship manager. **Payments allowed but not Scheduled.
  • thwarted on 15/07/2025 - 12:53
    +8

    SEND THEM A MESSAGE: I've just messaged UBank through their app (very easy to do) and told them I will be closing my acct if they go ahead with the change to bonus interest on 1st Oct. I also told them that others I knew only joined them because of their approach to bonus interest. Will it work? Dunno, maybe not, but if enough people message them with similar sentiment they may take pause. This is often what happens when small, innovative companies get taken over by bigger companies - NAB bought the online bank "86400" in 2021 and merged it with UBank. The acquirer then gradually imposes their processes and strategies, pretty well negating the value that made the target company attractive in the first place. Has happened with Telstra and others.

    • WillKillfor5Cents on 19/07/2025 - 00:47

      Do you mind sharing what you write? Keen to add bodies to the campagin but too lazy too think. Will use AI to reword so it's not identical with yours. Cheers!

    • Swa8821 on 15/07/2025 - 12:55
      -1

      change in bonus rate has been already effective from today not 1st oct. u wasting your time on Ubank

      • thwarted on 15/07/2025 - 13:22
        +2

        The change I am referring to is the change that is taking effect from 1st Oct (which is how to qualify for bonus interest).

        • Swa8821 on 15/07/2025 - 13:51
          -4

          yes but that is very later. I moved all my money today only.

  • Bargaphile on 16/07/2025 - 11:49
    +8

    Been with Ubank for over 10 years, they are totally insane doing this.

    • Bargain Bin Bernie on 16/07/2025 - 12:23
      +4

      19 years and 6months for me… I'm seeking a new Bank and Macquarie is its name-o

      • kerfuffle on 16/07/2025 - 12:57
        +1

        How have you been with UBank that long when they were established in 2008 i.e. 17 years ago?

    • DoaAn on 16/07/2025 - 21:56

      I was with the original Ubank since 2012, 86400 since 2019 and stayed with them after the switch to being Ubank. Have used others at the same time, but they've been my main for most of that time. I'll finally be closing my accounts as there is nothing left of what I originally liked of the bank

  • Meeb on 12/08/2025 - 16:46
    +8

    Pro-tip: for those leaving ubank for a less hoopey one - wait until they give you your interest for the month before closing your savings account - otherwise you will forfeit any interest that hasn't been paid to you yet. Found out the hard way.

    • muwu on 12/08/2025 - 16:48

      Makes sense

    • lars06 on 19/08/2025 - 11:32

      Thanks I thought it was calculated daily so assumed prorata. So I guess it makes the most sense to change accounts on September 1?

      • surfingedge on 19/08/2025 - 12:08

        It is calculated daily.

        Empty the account ASAP but you have to wait until 1st Sep to get the interest

        • lars06 on 19/08/2025 - 13:24
          +1

          Oh sorry I misread this. So you can take the money out but not close the account. Thanks

  • Grok on 15/07/2025 - 14:12
    +7

    The change on increasing balance makes UBank completely unsuitable for me.

    You can’t even use it to pay bills as when you debit the account you lose the interest.

    UBank have turned their “savings account” into effectively a one month term deposit.

    I already have a Macquarie account so will move everything there. The big hassle is that I have to create a whole bunch of billers in Macquarie that I used to pay from UBank.

  • Uncaged on 17/07/2025 - 08:06
    +7

    Sheesh… I had just opened an account 12 days ago, but I've yet to transfer any money into it. I might as well just close it now and sign up with Macquarie.

  • holdenmg on 15/07/2025 - 09:09
    +6

    I remember when evolving meant something else…

    I'll advise Macquarie and Oxford accordingly.

    • smartazz104 on 15/07/2025 - 13:44
      +10

      Apparently now it means "enshitifying".

  • lars06 on 15/07/2025 - 11:16
    +6

    Disappointing. ubank was great to use in conjunction with ING. Will have to check out Macquarie and others over next few months and switch over. Hope they take a big loss of customers from this!

    • Swa8821 on 15/07/2025 - 12:57
      -6

      Macquarie is not great
      4.85$ just for 4months - 1 time

      • try2bhelpful on 15/07/2025 - 13:20
        +2

        Then drops to 4.5%. Still OK.

        • Swa8821 on 15/07/2025 - 14:14
          -5

          for u its ok but for rest its not

          • apsilon on 15/07/2025 - 14:16

            @Swa8821: Which is better? This change means I have to move away from UBank and Macquarie is the leading contender.

            • Swa8821 on 15/07/2025 - 14:17

              @apsilon: ING or BOQ if you are under 35

              • apsilon on 15/07/2025 - 14:23
                +1

                @Swa8821: Not under 35 and ING has the same requirement to grow balance every month. BOQ has conditions indicated by ** but I'll be damned if I can find what they are.

                  • apsilon on 15/07/2025 - 14:32

                    @try2bhelpful: Found it, had to expand one of the sections. Need to deposit $1000/m and make 5 transactions from a linked account so I'd need to move more than my savings. Not seeing how it's a better option than Macquarie.

                    • try2bhelpful on 15/07/2025 - 14:33

                      @apsilon: Slightly higher interest rate.

                      • apsilon on 15/07/2025 - 14:36

                        @try2bhelpful: Yeah but only 0.25% after the first 4 months and only on balances under $250k (yes I'm over currently) and with extra hoops to jump through.

                        • try2bhelpful on 15/07/2025 - 14:39

                          @apsilon: True. Just another option for people to try. Particularly if people have to distribute between accounts to stay under the limit for each bank.

                • md333 on 15/07/2025 - 15:50

                  @apsilon: ING has a loophole allowing you to get around the balance increase (open 2 accounts and switch which one you nominate for bonus interest whenever you make a withdrawal). Also has consistently offered the best interest rate or near enough for decades, so worth figuring out how to use it. Does have a 5 transaction requirement which is more of a pain, but doesn't bother me now I have enough auto-payments to satisfy it.

                  • timhn on 15/07/2025 - 22:39

                    @md333: What auto-payment did you setup?

                • Igaf on 18/07/2025 - 00:14

                  @apsilon: ING's growth criterion is far worse, plus it has a deposit reqt.

  • sakanasama on 15/07/2025 - 11:49
    +6

    Nope, ubank has now lost the plot…pulling away…..

    Macquarie: Thanks for the free promo ubank

  • Ave Maria on 15/07/2025 - 15:29
    +6

    The ubank version of the theory of evolution is destined to turn us all into monkeys -:)

    I will be moving all my savings out of uWank in $20K OSKO chunks from today (like most everyone else)

    • bigmudcake on 15/07/2025 - 16:25
      +1

      I was about to ask what the max amount(s) you can move without having to bend over and sing moon river.

      Can you use PayID or is it overnight standard EFT for the 20k max ?

      If 20k is the limit then its a bit rich that they give you less than a days notice of the change in rate.

    • Swa8821 on 15/07/2025 - 17:51
      +1

      why waste so much time on them? why not just do a large transfer by increasing your transfer limit on a day. I did it today

      • onetwothreefour on 15/07/2025 - 18:25

        What's the maximum you can increase it to?

        • Swa8821 on 15/07/2025 - 18:26

          your maximum balance.
          call them quickly as they close by 7:30pm today

      • Mad Max on 15/07/2025 - 18:30

        Is the increased transfer (over $20k) still Osko same day?

        • Swa8821 on 15/07/2025 - 18:33
          +1

          yes but has to be done before 6pm

      • Ave Maria on 15/07/2025 - 21:12

        exactly as to not waste any time on them (on the phone) -:) I will take my $100K out in 5 days and interest loss is minimal (about $1.50)

        • Swa8821 on 16/07/2025 - 00:40
          +1

          its not much questioning just 4-5 questions which are basic, and then followed by OTP verification

          • Ave Maria on 16/07/2025 - 10:16

            @Swa8821: My Ubank account was hacked in 2021 with internal involvement (a dreadfull experience) so the last thing I want is to answer questions of a personal nature

            All the good things about Ubank (of past times) are gone

            • used to have auto-feed from saver to spend account when the card was used
            • used to be able to pay and have direct debits from Save Account
            • used to have $100K per day transfer limit to linked acccount(s) (only had to call for higher amounts)
            • used to be able to use online system without an SMS each and every time (device verified once and remembered)
            • did not have a balance increase requirement

            Now even AMP @4.70% up to $500K ($250 increase per month) with a $250K daily transfer limit looks better than AMP, the only option better with Ubank is that the transfers are all OSKO to $20K (or the temp increase) - I wil only used them as an interim transfer bucket & keep no money there.

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