"Another trial of Ubank."

Just to re-assure me of the safety of my funds in Ubank I am transferring $9000 back to my external Bank account in my name tonight, and then returning it to my Ubank account again. I'll let you know how successful it is. As it turns out, all transactions were completed without problems. I don't see an issue dealing with Ubank as long as you have a legitimate account and transact between another legitimate Bank account in Australia. Try to conduct fraud and you will be shut down.

"Awesome App and Rates, but Needs a Few Tweaks..."

I’ve been pretty happy with Ubank overall. The app is sleek, super easy to use, and makes everyday banking a breeze. Plus, their interest rates are some of the best out there (at the time of writing this review).

That said, there are a couple of things that could be better. Not being able to transfer money directly from my savings account is a real pain—it just adds extra steps that shouldn’t be necessary. Also, the bill predictor feature isn’t accurate, and with no way to turn it off, it just clutters the UX.

Still, Ubank’s solid rates and generally great app experience make it a top pick for me. With a few tweaks, it would easily be a five-star experience!

"Suspended bank account without notice …"

Suspended bank account without notice because of ID verification, which had already been given. Waiting to get my bank account unlock but all my money was in those accounts and I have a family to look after. Very disappointing and please avoid this bank, they don’t care about you and I suspect something is amiss with this Bank.

"Avoid them "

Avoid them and rush down to vaultream for safety and let them help get whatever you put in to this people back

"Paternalistic, overrated"

Paternalistic bank: "From 1 July 2024, you won’t be able to set up the below outbound payments directly from your Save accounts". Why prevent me transacting from my savings account? Two possible conclusions: Ubank wants to maximally inconvenience customers; or they want to minimise the interest yield they pay us? But money is fungible, so why force me to make 2x separate transactions for every transaction (eg send funds from SAVE to SPEND accounts before I can pay any bills)? When you sign up now they even force you to have SPEND & BILLS accounts even if you only want a SAVE account. Why force people to have 3x accounts when the user could instead track all spending and savings in one? One account would be easier to see all transactions on one statement, not three? I don't need or want a BILLS account, I can manage my own money and don't like having my choices removed by Ubank. Old NAB Ubank was much, much better, eg with automated 'sweeps' from SAVE to SPEND to fund direct debits and transactions. The new 86400 Ubank crew are sell outs: app is bloated with largely useless bill predictors but fails on core functionality like maximising savings via automatically minimising SPEND account balance. Some extra functions are good and I am sure some users love them, however they mostly annoy me. I don't want a bills planner or transactions sorted by category - I want higher interest yield — where is the focus on core business? Platform is also frequently used by fraudulent users: example a) UBank phone line item 2 is for if you have been subject to fraud; and b) other banks blacklist new transactions with unknown Ubank users (because Ubank is apparently a high fraud-risk institution). Save your time and go elsewhere like Macquarie Bank - much better UX without the paternalism.

"Great, easy to set up and use. "

I’ve found Ubank to be a seamless, easy to use online banking product. Set up was quick and simple. The card arrived quickly which didn’t really matter as the online card was accessible immediately. I love the layout of the app and the way it breaks down your spending, which is great for budgeting.
Transfers from other accounts to ubank is fine. I don’t do direct debits from ubank so can’t comment on that.

"Account Closure Without Justification"

I have been a loyal and active customer of UBANK for quite some time, but I was shocked and deeply disappointed when my account was suddenly closed without any prior warning or clear explanation.

I received an unexpected message informing me that my account had been closed based on UBANK's "general terms." In an attempt to clarify the situation, I immediately contacted their customer service. The operator informed me that the account was permanently closed and, when I requested the reason, I was told to refer to their general terms.

After searching for the general terms online, I found a vague and nonsensical explanation stating that my account was closed due to "identity information not provided." This was both puzzling and concerning, as I had never been asked to provide any additional identification or verification, and I have consistently complied with all necessary documentation requests.

I called back to request further clarification and proof of the alleged request for identification verification, such as the date of any email, SMS, or letter that could demonstrate this requirement. The operator’s response was still vague, reiterating that the closure was in accordance with their general terms—without providing any concrete evidence or justification.

This experience has been the most frustrating and unsettling encounter I've had with a financial institution. It raises serious questions about UBANK's practices, customer transparency, and the security of their clients' funds. If the bank can close accounts without notice or clear explanation, it casts doubt on their reliability and the safety of the money entrusted to them.

I strongly advise potential customers to think twice before opening an account with UBANK. Your funds may be at risk, and you could find yourself in a situation where you are unable to access your own money without warning or a valid explanation.

I intend to escalate this matter further if no satisfactory resolution is provided and will explore legal avenues to hold UBANK accountable for their actions.

""Mickey Mouse" Bank Operation"

"Mickey Mouse" Bank OperationGot to be the worst bank I have deal with for the following reasons:
- Can't direct debit from Saving account (i.e you can't have bill automatically paid from Saving account)
- "Mickey Mouse" operations. The whole setup is like for kids or kindergarten, not for serious people that have money.
- Unprofessional call centre. You can hear their background noises where other operators joking around talking about cricket!

I have since closed my account and bank with someone else.

"Mis information by U Bank and to ANZ…"

In October 2024,I was asked by U Bank for Verifications papers. I asked SIX TIMES the Librarian to Complete papers and to Take Photos,
All were Rejected Six Times by the a Staff Without explanation.
I, knew as I was being Vilified.
I closed my Accounts before they Could. And, told Kyle and Ryan: The Culprits: what I thought of them.
.To Spite, Me, they contacted ANZ, stating Two Transactions in August and Sept, were Money Laundered..
Whenever,I get my Pension, on a Thursday, Immediately, I send $210 From My Pension to the ANZ Mortgage Account.
The, Lass from ANZ today Jan 06. 12:40 after waiting TWO HOURS TO SPEAK to ANZ Support, Is No Better!!
was biased, alleged that U Bank had informed them that the two payments as described, were not from my Pension, and that my Account with U Bank, was Credited Unlawfully that I need to provide documentations..
Really! U Bank Staff, Kyle and Ryan.
I am a Pensioner as you well know, with no other income, than the Pension.
No Relatives Help me.
To get $2000 even from my Daughter, who declined.
So,you, Imbeciles!! Grow Up!
Use your Analysis and Just don't Shoot from your Hips to Vilify an 86 Young Man, who is/ was a Secondary Teacher in Japanese, Science and Math. ( Did you Guys, Get That Far!)?
And, also a Psychotherapist!!
In Two years Time, I'll bet my Bottom Dollar, you Won't Have a Job or even Get Another One. Because, you. Both Narratives to ANZ, was FAKE/FALSE INFORMATION TO Slander a Customer of Yours :The U Bank and ANZ.
Your intentions, Were Spite-full, and Appaling to Demean me, to think that you have WON.
No! You have not. Remember!
Your Shadow Follows YOU SO DOES YOUR KAMMA. Slow but, Sure you'll get your Awaiting Deserves
Your Manager, or CEO should see this Narrative. And, if s/he Contacts me I'll tell him/her Exactly what I know, and what you Imbeciles have done to me
John

"Anyone else have a story of Ubank"

Anyone else have a story of Ubank stealing nearly $400 of their food money when opening an account and having their first deposit marked as fraud and locking the account? I can't eat or pay rent because they literally won't let me access my money and are closing the account with my government benefit payment in it.