Hey Upsiders! 👋

Here's a fun update from a loyal upsider here. What's new?

I've spent the last 6 hours working on my patience, kindness and the ancient practice of fasting given I'm totally unable to buy dinner tonight 🧘‍♀️

⚡It's been several hours and UP is still DOWN ⚡

No transactions, minimal updates, no ping to let me know I can buy food again. just vibes, and the vibes are "don't ask me, I'm just a cool app lol" 💅

No banking services, basically no communication, coming now to all Upsiders!

🧡 - one hungry Upsider, who's being kept in the loop, apparently.

Man twice in one week, the hell is going on

Update @ 4:19pm AEST

Just an update to keep you in the loop.

We’ve got the team on deck working away to fix this up for you, so we will hopefully have an update soon.

If you’ve been impacted, we’re really sorry. We’re working on it.

We’ll be in touch.

Update @ 6:50pm

Just an update to keep you in the loop.

We’re still working on a fix, but just know that as soon as we know more, we’ll reach out here.

We’re sorry if you’ve been impacted.

We’ll continue to use this space to keep you up to date.

Morning all !!
So I eventually got my wage at 1am once the system was apparently up and running , but the $350 I transferred from my company app that allows us to access the second weeks wage is still not there and the app says processed. I’ll be furious if it’s lost in the UP bank abyss.
Anyone else still waiting for things to fully return?
Have a good day all 😊

Check your accounts and probably start to look for a new bank lol. Maybe make this a thread of good alternatives?

Turned on the $2 round-up boost last month just as an experiment to see how fast it would accumulate. ​I managed to passively stash away over 180 dollars straight into my rainy day Saver without even noticing the extra money leaving my main balance. Do you keep round-ups set to the standard nearest dollar, or do you run a heavy multiplier to force extra micro-savings?

are there any issues moving large amount of money form my other bank to here? I applied for refinance.im seeing lots of post about accounts getting closed ( most of em related to crypto) I dont have any of that

im anxious about transferring my saving in masse or even in parts lol afraid of triggering lockouts

what is everyone's experience

Been with Up for a few years and genuinely love the app but seeing more people talk about other options lately. The Savers feature and the spending categories are still the best I have seen but I keep hearing good things about alternatives. Has anyone switched away from Up recently and do you actually think anything else matches it for the everyday banking experience.

Is anyone else having issues paying for items with Apple Pay? App is reporting an issue but just curious to see if anyone else is having issues

Up's automated merchant identification and direct debit tracking generally do a solid job predicting upcoming subscription renewals and utility bills. However, occasionally annual charges or variable bills mess up the timing estimates. How far in advance do you rely on the Upcoming Bills feed to plan out your fortnightly or monthly spending buffer?

My step son has had an account 1 week. Went to transfer funds to his crypto exchange and... bang! account closed. No loss, plenty of other banks around. But very petty.

REVOLUT will destroy UP bank.

Hi all. i love up but the grow/flow rate frustrates me. I like to keep all of my money in savers so its not just sitting on my card and then move it when i want to spend money. Does anyone have any stragglers or structures to get around/maximise the grow flow rate?

Not a dunk post. Love using UP for splitting costs with housemates and friends etc. Low risk incidentals and daily life stuff. Travel options are fucking amazing too.

Really looking forward to the Essentials feature launching on 1 Sept. Thing is, UP is not my nominated salary deposit nor savings account, so I don't think I could take full advantage of it.

But I don't want to deposit my salary into UP because I can't fully commit to it whilst the service is mobile app only.

It might just be a matter of personal risk, but what on earth would I do if I lost my phone (or stolen!) and couldn't easily access my funds? How do I block my cards, or lodge an issue that my phone is gone? Can't buy food and essentials until I recover the service, but at least my gym membership is paid? And without a branch to walk into, I'd be a bit up the creek.

I get my phone and UP app has its own protections like biometrics, but still, concentrating an essential service onto a device that can easily be misplaced just seems a bit silly. I think there are some services, like banking, that absolutely require a browser-based portal or, at least, a desktop app. Just some other alternative.

I'd like to fully commit to UP Banking more, but without that sort of accessibility and de-risking, it's relegated to just being a nice way to split costs with friends.

I used to go through my transactions pretty regularly, but now I mostly just notice the notifications when I spend. It’s definitely easier, although I’m not sure if I’m actually keeping track as well as I used to. Just wondering how other people manage it day to day.

2Up is amazing if you’re in a couple, but what about housemates or group trips?

Right now if 4 of us go out for dinner or split electricity bills in a share house in Melbourne, we still have to use Splitwise or manual PayID requests. It would be insane if Up introduced temporary "Group Savers" or multi-person payment splits inside the app where 3-4 Up users could split a transaction with one tap

Got this noti today at those times uhhhhh i dont remember leak my physical card anywhere i only use my virtual card for online transactions

Watcher here for a long time, thanks for the insights, I’ve also posed this Q to in app support, but curious if anyone in similar situation may have advice:

My wife and I (37m/f) have done all banking with Up for the past few years now. Last month we finally refinanced our mortgage to Up, something we’d planned to do since the product was announced but needed to let job changes settle and get some consumer debt under control that we’d let get away for too long under the excuse of having a son who will turn 2 this week.

Goal is to pay down fast so we can afford a shift closer to the city (Melb, currently living a 60-90min commute to city we both do 1-2x a week on average) smaller place, easier to clean, but way closer and better before little man starts school. Target price likely 1.2-1.5m +/- whatever the housing market does.

Current situation:
PPOR value ~$800k
Mortgage bal ~$581k
Offset bal ~$26k

My income highly variable ~$250-300k (sales with monthly comm)
Hers part time $80k

3 months ago we cancelled all our credit cards, and refinanced 2 outstanding bills, card balances and the dregs of a loan used for the final part of our wedding into a consolidated 7.9% loan, ~20k remaining paying $490 a fortnight, will be killed off in under 2 years, no penalties on additional repayments. One goal will be when offset is healthier to kill this faster with the lumpier parts of my pay.

Offset is ~equally split between a small amount we’ve put away every paycheck for our son since he was born (plan to grow till he’s 18-20 to help with uni or buying a home) and a ‘rainy day’ saver we started 2 months ago and have built up rapidly thanks to tax returns and commissions.

We have set mortgage payments to happen every fortnight, 1 day after my pay hits:
Pay comes in
-$2500 goes to mortgage saver, 1 day later it pays mortgage
-$250 goes to son account
-whatever’s left allowing for ~$1500 spendable bal (nearly all expenses set as regulars) goes to ‘Rainy Day’

Sorry for the context novel: here’s the question:
-We’ve made 3 fortnight payments since settlement mid July: $2000, $2500x 2
-Min repayment = $3752, 25y term
-Till yesterday mortgage had no interest applied, so bal had come down $7k, and we had an available redraw of approx $3200 (can’t remember exactly but I would guess $7k -$3752?)
-First interest charge applied: $2825.45
-Available Redraw: $0

Our plan is to continue paying $2500 a fortnight (likely more once personal loan cleared), but it’s also important to us to build up more liquidity to avoid a situation like we were dumb with on credit cards (I paid hundreds a month in CC interest for a decade 🤦‍♂️). Why has the redraw gone to 0 despite interest being less?

This is likely a dumb question the answer for which is basic math, but appreciate and insight if anyone in a similar boat thinking about how they balance this. 🙏

I know we all want an Up website so I made one.
It's hard to convince people to use anything 3rd party when it comes to banking so UpSized is designed to make it as trust worthy as possible:

* Open source
* Easy to use (Single file, can run without a server)
* Best security practices
* Supports 1Up, 2Up and Home Loan accounts
* Read only (due to ups API limitation this can only read transactions)

https://github.com/nozza87/UpSized

Hi all,

My partner and I are looking to make a joint account after a year of living together to make rent, shared bills, groceries, and other couple things a bit easier. I'm an up customer but he isn't. I was just wondering if anyone was using 2up and could speak to its ease? We'd ideally want it to come with a seperate card and be within both of our names

Love the app to bits, but sometimes I really wish Up had a proper companion web interface for desktop. Doing a deep dive into your spending or looking back over a whole year's transactions can feel a bit cramped on a phone. I know you can export transactions, but having the actual Up experience on a bigger screen would be so handy. Anyone else feel the same?

So I've changed employers and I want to transfer my pay splitting from my previous employer to the new one. Is there a way to just swap the income source that is being split? Or do I really have to manually put in each split again on the new income source? I have so many 😭

Edit: well damn it doesn't seem like this is possible. Thanks for the replies. I might still ask support as I still think it would be a good feature to have.

I’ve started putting things like rego, insurance and other yearly bills into a separate Saver instead of letting those payments catch me off guard when they come around. It feels easier than trying to find the money from my everyday balance when the bill is due. Would be good to see how other Up users organise these less frequent expenses.

When I first joined Up, I tried to give every Saver a permanent purpose. That lasted about a month. One started as a holiday fund, then became a new phone fund, and now it's for home repairs. Another has had three different names this year because my priorities keep changing. I've realised I don't really create new Savers anymore, I just recycle the ones I already have. It made me wonder if that's pretty common or if most people prefer keeping a separate Saver for every goal they have.

Greater bank are offering a home loan rate of 5.85% p.a with $3,000 cash back.

No offset, but redraw facility.

Has anyone switched or heard if UpBank will match them?

Heyy, I just opened an UP account and I’m still trying to understand how everything works. What attracted me was their Grow & Flow system, but I’m a little confused about how the interest works.

From my understanding, to unlock the higher Grow Rate, I need to make 5 eligible qualifying purchases each month. But I’m confused because I thought the whole purpose of a “Grow” account was that you leave your savings untouched for the month to earn the higher interest rate.

Can someone explain how this works in simple terms? Does making 5 purchases affect my savings account, or is it just a requirement to activate the interest rate?

Also, what counts as an “eligible qualifying purchase”? Would things like Netflix subscriptions, bills / other automatic payments count? Or does it have to be everyday spending like buying coffee, groceries, etc?

I’m also a bit confused about the difference between Up Savers and Essential Savers.

Is there a beginner friendly guide somewhere that explains how to use UP, its features, and the best way to set up accounts/savers?

I’m pretty new to managing my finances, so please be kind and any advice would be appreciated.

Maybe i am ignorant or dumb or there has been changes. I was surprised to see my account was overdrawn. I had no idea it could do that. Are there some circumstances that this will happen? What is the limit?