UBank has just increased its online savings account rate to 4.91%. $200 automatic deposit per month required.
Previous UBank rate was 4.66% and now the savings account rate is much higher than locking in money in a term deposit for up to 1 year.
Ubank Savings Account 4.91% - No Fees, $200 Deposit/Month Required
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sorry, i meant transaction accounts like cba
it's not like opening/closing credit card accounts. won't affect your credit score. might affect your sanity trying to remember all those logins and passwords ;)
@tdw thanks man that's what I was looking for. =)
Yeh the logins are a headache. Either make all of them the same and risk getting them all hacked at the same time or….
Lol at the people saying ME is better 'cause you don't have to deposit $200 monthly. Uh, if you're not even depositing that amount every month, a 0.19% interest rate is going to make bugger all difference.
what? if you've got $100k sitting in an account, .2% is about $200/year. having to make a deposit of $200 each month to get a better rate is just an annoyance.
You only have to set it up once then the $200 is taken out automatically every month.Set & forget.
The $200 can be withdrawn whenever you like.Don't forget that the rate kicks in in the month after you deposit the $200.
This has the effect of taking a chunk of your interest.
So open an account with $1, set up ASP of $200, and wait a month before transferring?
Took me all of a split second to come up with that. You're welcome!
Is there a list anywhere of historical rate changes amongst the big competitive savers (ubank, mebank, rams, ing etc)?
And for everybody banging on about how ubank don't currently have the highest rate, I think they need to realise it is a lot more nuanced than that. Factors like the web interface, transfer rate, historical rate, special terms & conditions required to get the 'bonus rate' also play a factor (maybe not for you but certainly for others).
I switched from ubank to rams a few months ago because rams had a consistently higher rate for a while (I think - which is why I want the historical rates) . Kind of regretting it as the RAMS interface is pretty crappy and transfers seem to take longer. Now I'm entertaining a switch back to ubank, which had same day transfers with my main bank (nab) - or mebank, for higher rate and what I've heard is the crappiest web interface of all.
Bleh, maybe I'll just buy gold.
"crappiest web interface of all"
I strongly disagree!The ME bank interface is definitely not the best but is far from being the worst. You wanna see REAL BAD? Try Citibank or HSBC or even RaboPlus.
Personally, I think the ME Bank interface is better then UBank (after UBank 'upgraded' theirs).
For my money, if a bank offers me an interest rate higher then all others and doesn't require me to 'shuffle' my money in order to get it, they will win every time!
I cant seem to get the ubank website to work (properly) under windows 8 and the latest version of iE. Anyone else?
Press F12 choose IE9 for both Browser and Document Mode
what is the best transactional account with zero fees?
ING Direct Orange Everyday, easily. 5% rebate on payWave transactions.
and their online interface is such a breeze to useso no fees?
Do they have many atms?Also does the paywave, atm get charge any fees?
what do u think of the nab iclassic?
nope. free transfers and bpay too.
to withdraw cash, either cash out at EFTPOS terminals (any amount) and get 50c each time, or at any ATM, withdraw at least $200 to avoid ATM fees.
you don't get charged for paywave transactions.not too familiar with the nab classic account - i only signed up for the $50 carrot they were dangling :p
http://www.ozbargain.com.au/node/40649So if u make a a withdrawal at eftpos they pay you .50c?
but at atm,
how much is the fee if it is below $200?i need to make a correction: cash out at EFTPOS needs to be $200 or more to get the 50c rebate.
ATM fees vary for withdrawals <$200
I agree that ING Direct is the best while their 5% rebate is in place (till June 30 unless extended) and/or if you regularly withdraw more then $200 via ATM or EFTPOS.
Otherwise, Citibank Plus is, in my opinion, the best transaction account in Australia as it is completely free and is the ONLY transaction account in the land that charges no fees for withdrawing cash and making purchases overseas.
With Citibank, you can withdraw cash at any ATM belonging to Citibank, Westpac, St George, Bank of Melbourne and Bank SA or via EFTPOS and Bank@Post.
The only problem with Citibank is that their internet banking is pretty crap and all customer service without exception is from overseas (Philippines). Also, their Visa debit card has no chip and no Paywave support. It is just a 'bare bones' Visa debit card.
I agree with this! Citibank debit has saved me alot of overseas transactions fees as not everyone has the 28 degrees mc.
But yeah I hate the Citibank Internet banking interface… Really not intuitive and very cumbersome.
RAMS has increased its rate to 4.92% p.a.
Rams has sent me an email stating they are going up to 4.92 % on Wed the 6th March 2013
Would like to open a saving account for new born (under 18), any recommendation of a good one with high rates?
ThanksME Bank Online Savings Account currently has the highest rate as people have been saying on this thread.
However, have you considered other investments (besides bank accounts)?
i suspect ubank were banking (no pun intended) on a .25% rate increase earlier on in the week
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You've had high interest savings accounts with monthly fees? :/