ubank.com.au

I changed my mobile number about a couple of years ago and wanted to move my money out, however, the account has been made inactive and the pain to activate it is just ridiculous as it's all done via the POST system and you can't see any one. Go to a bricks and mortar bank.

Having tried 3 times to access my account, the message that my "temporary" password was out of time kept coming up, I contacted a person who 3 times tried to walk me through a new password without success. I was then told that you need to be "tech savvy". I operate 3 other online accounts with various banks without any trouble. Why did I have to change my password - because I had not used it in 12 months - wrong again. This is not the first time I have had problems with their system. If I could receive the same rate with another bank I'd be gone in a flash.

I opened a Ubank account just over a year ago after researching online for some high interest rate savings accounts. I found that Ubank offered the highest variable rate (today it is 6.51%) in comparison to other banks at the time. I had considered putting my money into a term deposit but the highest interest rate I found for a term deposit was lower than the interest rate for a Ubank savings account. Rather than have your money locked into a fixed term deposit, I think it is much more convenient and advantageous to have it put into a savings account that attracts a higher interest rate and allows you access to it.

The site was a little strange to navigate at the start. I find the categories on the left hand side menu confusing when trying to make payments/transactions.

Initially, my transactions would take up to five or six working days to arrive into the accounts. Recently, the transactions have been much quicker.
Highest interest rate I found compared with other banks. Simple, easy to read layouts for accounts. I do like the visual graphs that plot how my savings are going.
I can't seem to make Bpay payments as you are required to enter bank details when making transactions between accounts. Being a shift worker, it can be inconvenient that any transactions I make later in the day will only be processed the following day.

I've been waiting for 3 weeks to have my funds unlocked - 6 times I've sent messages, phone calls, live chat sessions and they still don't do anything. They even told me they had the documentation I sent to them 3 weeks ago and 2 days later the funds are still locked. Complaint sent to AFCA.

I wanted to stay away from the big 4 (and still do), but this isn't an option you should consider.

Applied to transfer existing home loan from another bank where I had been banking for 10 years, after supplying all my paperwork and more information then was required they rejected the application for no reason took them 3 months to sort nothing out

Since the time I opened my bank account since 3 months ago, I have been having night mares with this bank.
1. First, I didn't get my ATM card for 2 months
2. I couldn't add a Linked Account. When I called customer care, the guy was extremely rude.
3. Finally, I found an alternate way to add a linked Account, now I cannot transfer the money out of the bank. When I reported the error to the support team, they came back saying it is an issue with browser, they can't help.

Now my money is stuck and I am unable to do anything with this bank. One of the worst banks I have come across. I am planning to close my account soon.

Took 2 months to get debit card. The statement was not showing correctly and when I complained, their tech support person called me and was almost yelling at me. I am literally maintaining a parallel spreadsheet on my PC to track my money as I don't trust this bank anymore. Just because of interest rate I am still hanging on to it.
Today, my password didn't work. I reset twice but each time you logout you have to reset again as it stops accepting the earlier password. What a pathetic bank. I don't know why such banks are being allowed to operate in this country.

I have been banking with Ubank for some years, having a Usaver account plus a number of completed term deposits. I must bank with a different Ubank to the majority of the forum as I have been able to call them on Skype and on the Voip phone without any difficulty. The only bank I know who allow both methods for ease and costs saving. I have found the staff helpful on most occasions. From my experience I recommend them to family and friends, with my grandson to start a term deposit shortly. They do take a few days to clear deposits however they pay interest from the day of receipt. They need to be conservative in these matters to enable them to pay the great rates available.

Clear title, wanting to use funds for purchase of additional property, initially told 2 weeks max to draw down, currently into 3rd month, missed out on 2 highly suitable properties in the meantime. Discharge of mortgage provided with clear title, still wanted proof property had been paid out. no contact from lender with out provoking a response from them. I have been told today, 28/3 additional documents to be signed and sent in the next 5-7 days. Unable to return CT to me without following discharge process. Very frustrating and misleading process. avoid unless you like waiting an extensive period, having to repeat yourself to a new operator everytime, and being made a fool of when negotiating a purchase. Will refinance the second the loan is drawn down. negative stars.. so very disappointed. lesson learned, pay peanuts, get monkeys.

We unfortunately took out a 6 month term deposit with ubank l
We received a letter from ubank stating our term deposit was maturing and giving instructions on how to arrange for the funds to be distributed.
We logged in and did this as instructed.
When we did not see the money in our account after a few days I tried to log in and see what was going on but could not log in. I called the bank only to be told that the account had not been "verified" and that the money had been rolled over. Apparently our paperwork had not been received!

Needless to say we were extremely angry at this information. We had sent all the required paperwork in 6 months earlier and never had we been alerted or told that there was an issue.
When I had logged in to arrange the distribution there was nothing to indicate that there was any problem.
We find the whole situation farcical and so typical of big bank arrogance. The publics negative perception of banks is justified by incidences such as these.

We were never told there was a problem with our paper work. It is not our fault the papers went missing and how are we supposed to know that they did? And to top it off staff members insinuated that we should have checked the papers were received. Excuse me???
Ubank professes to be an on line bank - yet they demand more paperwork than we have ever had to provide before to open up a Term Deposit and then expect us to ring to make sure they have received it??? Ridiculous.

We were also told that we were locked out of account - we could no longer log in! Obviously the bank staff accessed the account and could see that it was not "verified" and they could also lock us out. How about using the technology to keep the customer informed, or perhaps that is just too much to ask. Banks aren't ones to look after the customer or keep them informed, they do things there way with no regard for the customer and ubank is the perfect example of this. Hang on whose money is this?????

I find it very insulting that any staff member could possibly insinuate we have done something wrong here which is what happened. One staff member did at least admit the whole situation was wrong and something should be done, but it wasn't. The response should only be to fix the problem as soon as possible. However, not even that can be done. We resent all the paperwork once again - this time by express post so we could track it. We rang again ( tried to log in to our "online account " but still locked out) and had to put up with virtually being told to suck it up read the web page ra ra ra.

Not the correct response when we have followed all processes, done nothing wrong but deposit our money with ubank! We were then told that the papers were received late that day, when in fact they were delivered the day before by express post! Still nothing had been done to resolve this disgraceful situation of the bank just keeping our money. I demanded it be done today the papers were there and transfer our money to us. He replied "everyone had gone home at 4pm" What a joke. So we have to now wait another day and then we wont even get our money. We will be lucky to see it the following day, 11 days after it matured!!!!

Still no service, no attempt to make things right. If we ran our business like this we wouldn't have a business. But then that's banks. What happened to the customer is always right? At ubank, its often the little upstart on the other end of the line, who is not listening to the facts, that is always right.
It seems incredulous that ubank can legally take a customers money, keep it indefinitely without the account being "verified" and yet have no legal obligation to let the customer know that there is a problem with the account verification! We are absolutely dumbfounded that this is legal!! never have we come across such a ridiculous and farcical situation and we have had many many bank accounts.

I opened a USaver Reach account for my Mojo emergency money (or as I like to call it, my Rainy Day account). At the time of writing, the interest is 2.31% p.a. for accounts under $5,000 for people under thirty years old. There are no account keeping fees and no minimum deposit amount per month or any other nonsense.

The online banking site and mobile app interfaces aren’t glamourous, but they’re functional. I love that both include a graph of your saving progress. There’s also a savings calculator you can use to project your savings over time.

It’s a simple no frills account with decent interest.

So far I'm down about a $1,000 in lost interest and accountant fees because they can't find my paperwork. Stay a million K's away with your SMSF. Only contact from Ubank is from a computer generated letter and email. Its upbeat, but still a machine. Have sent three emails, gave up holding on the phone. They must have only 1 staff member, with a high staff turnover. Signed up with Rams the same date and the account was fully operational in a few days.Post Office assures me they delivered everything on the 16th of July. Ubank suits young people with small electronic deposits, who aren't worried about access to their money when the economy enters recession.
I know its my fault, because the reviews were concerning and I still signed up due to greed, just to get that half percent above the quality banks.If its this hard giving them my hard earned savings, imagine the difficulty when an actual problem arises.
NAB backed, Interest rate, No frills, Net based
No Service, no support, no care, no idea

This is the worst loan application experience of my life, as one other reviewer has already stated. I have spent now nearly 3 months providing them documentation, scanning, re scanning, sending, updating, re sending, every time I give them the document they want, they ask for something else. When I ask them to just tell me in one go what they need, I get no response. The live chat is utterly useless.

Seriously, get things done quicker and easier the proper way. Go to a bank that has real people you can talk to who arrange all paperwork for you. This is the most pathetic company I have had to deal with. My loan application eventually expired after I let it go for a couple months without doing anything. So I figured I will star another one with them and guess what? I completed all the initial details I needed to online, then got to the end and accepted the privacy terms, clicked 'Submit' and it spat back an error that the form cannot be submitted due to an internal error. UBANK is a P.A.T.H.E.T.I.C waste of time.

put money in, took money out, took out a home loan, read and understood their procedures and never had a problem after 7 years. Always given appropriate advice on phone help.

I have used Ubank for many years, both personally and in my SMSF.. On renewal I noticed the rate for my SMSF is 2.7 compared to 2..85 for a personal term deposit.. ING rate is higher, so I guess I have to change...

I applied to refinance my home loan in February 2019 and submitted all the necessary documents as requested. Step forward to now and my application seems to have disappeared from their system. I contacted Ubank who had no knowledge of my application even though I have an email chain from them a mile long. They stated someone from their loans dept would contact me with 24hours. That was two weeks ago and not even an email from them. I am attempting to close my savings account with them today but online banking is down. Can't even get that right Ubank...

Ubank has to have the worst internet banking platform on the planet- it's 2020 in a few weeks and I can't understand how a company backed by the nab could be so bad at it.

It constantly won't let you log in.
It's extremely slow
Sometimes it doesn't load

I called them about it and they didn't seem to give two craps

I am preparing SMSF tax and I can complete all my information except from UBank - the online bank that isn't really online as I have had to order statements and now wait 2 days before I can complete our tax return.
We use NAB, Nabtrade and Rabo now as their websites are so good and I have printed off all the statements IMMEDIATELY.

UBank offers the best interest rates so if you are serious about saving, the rate is currently 6,31% p.a. for the dedicated SMSF account.
We have set up many SMSF's and use UBank as the default bank account. We have a streamlined process to supply UBank with the exact requirements needed to open up a new bank account. All the bank accounts set up so far was hassle-free, although there's a reasonable amount of support needed.
Regards
Hein Preller
Director
Superannuation Warehouse
Account number and BSB issued within 1 day
Sometimes difficult setting up Direct Debits from the Online SMSF savings account

I am executor of my fathers will and he had an account with UBank. I have made three phone calls, two emails, and a call to the complaints section and I can not get them to send me one form that I need for probate. Surely they could email the form while I was on the phone. There was no manager that would take my call (yes, all very polite calls) and even the complaints section has not returned my call. I can't think of any other way to deal with them except to try the banking ombudsman......all for the want of one emailed form!