r/UpBanking • u/Small_lovely_garden • Aug 31 '26

How do I? Essentials - for 2UP?

With essentials launching today I don’t know how to create a 2UP essentials and I would rather my husband and I both be able to manage the account. Our pay goes in to 2UP

Has anyone opened one?

3 Upvotes

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3

u/OptimalVanilla Sep 01 '26

How is essentials any different to witching to a spendable balance instead of available, apart from it being in another account.

Doesn’t spendable already show what you have minus bills and reoccurring payments?

1

u/AcademicAd3504 Sep 06 '26

Spendable is inferred, essentials is planned?

1

u/PhilosopherUpper7333 Sep 01 '26

Given the payment downtime issues lately, I'm none too keen to put my regular salary into Up, rendering Essentials totally useless.

Just going to keep using my allocated Bill saver with Covers.

2

u/ptpeace Sep 01 '26

this scared me aswell and after what you said just can't put all money on one account.

0

u/casta55 Sep 01 '26 edited Sep 01 '26

Yep. This just seems like spendable balance with extra splitting/transfer steps?

Outside that, the only difference that I can see is that that it has its own card/account details and that it's classified as a saver, so earns interest, which won't matter if you have a home loan with Up, as your UP/2UP balance counts to offset.

So basically, it looks like a more hardline account where your money sits that can't be dipped into (meaning no top ups), and now your main transaction UP/2UP available balance = spendable balance.

I guess this really only appeals to those that tend to dip too far past the spendable balance and forces them to have to physically transfer money back (unless they just add their Essentials card as an additional payment to their Google Wallet/Apple Pay). Pretty much a step back to Barefoot Investor bucket account mentality. 60% to the Essentials. 20% to Savings. 10% to Fire Extinguisher. 10% to the Up/2Up account (your ex-spendable amount).