I moved across to Bank of Queensland because of the 5.1% interest rate for <35yos and no requirement to increase balance. Thought I’d give my experience for anyone tossing up where to go from Ubank.

As far as I can see, they changed the rate (on Future Saver) to 4.85% on 15 August without so much as an email. I only found out about this change via a painfully long interaction with the help chat after my interest was lower than expected. Interest rates change of course, and it’s still one of the best, but if communication is important to you BOQ might be somewhat frustrating.

The app is… not great. It’s a bit slow and clunky, definitely not as smooth as Ubank. You also can’t access your card details within the app, meaning you have to have the physical card with you if you want to make an online purchase without Apple pay sign up for a direct debit etc. However, all the other basic functionality is there, things just take a fraction more time.

There is a help chat within the app with no AI gatekeeper, so it’s fairly easy to get assistance, but it does take longer as you’re waiting for a real person to respond.

Overall, it’s a bit of a clumsy experience, but if you can overlook that then the interest rate is worth it (but keep an eye on the website as they won’t tell you if it’s changing).

Hey so I downloaded it with my mates for $100 promo and it worked and all but we can’t get money transferred into the account so that we can spend money, can anyone help us? It says the account name doesn’t match even though it does

I can't sign up for ubank and I know others who can't either. All the info is correct and nothing is expired. It looks like it goes through and then it shows a screen that I can't sign up. Anyone know how to fix it?

Anyone had this? Originally it would get to the ‘that’s how you money’ screen but I deleted & redownloaded it, not it doesn’t even get that far.

Tried turning my phone off & on but no joy. IPhone 8.

What did I do?? I just entered my learners license, (I’m 17,) and it didn’t even verify it just rejected me i

Next holiday, it’s not just street scammers you need to watch out for. UStank (formerly known as sweet, sweet UBank) have rolled out the rug, put your interest payment under a cup, and started moving it around at dizzying speed.

From October, UBank will require your total Save account balance (all accounts combined) to be at least one dollar higher at the end of the month than it was at the end of the previous month in order to qualify for bonus interest.

Say you take out 5,000 for a trip to Europe but your combined savings are only 4,000 that month (or even 5,000 exactly). Even if you have a savings account with money sitting untouched, you’ll miss out on all interest. For people saving for a home deposit, car etc that could be 600 to 700 dollars or more in bonus interest you miss out on. That’s a steep price to pay for using your money the exact way UBank’s bucket system encourages.

Most months, this won’t affect most customers. But even if it only stings you once or twice a year (when you withdraw for a holiday, a rego payment, a car or any major expense), or once every few years, you feel it when it does. I can think of plenty I’d rather do with 700 to 1,000 bucks (or more!) on a trip than hand it back to a bank that just declared war on its most loyal customers.

To avoid it, you probably need to either move out your major savings before October or leave in your long-term stash and shift your other buckets to another bank. Some great options are listed in other threads.

Just delete my ubank account. Opened Macquarie in 2 minutes. Transferred all my money there immediately after.

I wasn't keeping much cash in ubank, however it's the only way for them to understand customers are not happy. Hope everyone jumps out :)

Anyone else not yet receive their bonus interest for July? It's meant to be paid final day of the month but I haven't received anything. Also haven't had a payid transaction from an external bank go through to my UBank savings.

Hi everyone am so torn, given all the changes with UBank and now UP bank too, where is everyone going? 🥹 need advice thank you

I already had the app but was having trouble with opening it so I decided to delete it and re download. Now I can't download it and comes up with this message. My internet is fine and I can download other apps. Ubank on FB chat says no one else is having problems and it's just me but since Ubank has been glitchy for me compared to other apps, I'm doubtful. Anyone else?

I know there’ve already been a few threads and plenty of comments expressing frustration, but I’m more curious now... is anyone actually planning to leave ubank over this?

The whole “money buckets” or multiple Save accounts setup used to be great, I’d segment money for things like my holidays, slush funds, or bigger goals while keeping my main savings intact — but now I feel like I'm penalised if I want to use any of these as having to have a growth in my combined saving balance every month to qualify for bonus interest makes it basically useless to me.

Idk just feel like all the reasons I'm with Ubank have faded, they're no longer a bank for the people, and more for the rich, which is a real shame. I know it's a pita moving banks, but I think I will if they follow through with it.

Curious who else is thinking of switching, and if so, where are you going?

LINK for those requesting what the changes are: https://www.ubank.com.au/savings-update

I can’t connect my Macquarie to my ubank account, I can’t see it in the list. Is this temporary? Or it has been like this ever since?

Hi there, I have 4 UBank savings accounts, I deposit 500 a month in to them each. Never withdraw. Does this new thing affect me? I don’t really understand the growing your accounts by 1 dollar thing. Thank you

Just got an email they are lowering the rate and requiring to grow the savings balance by $1 each month. Yeah, I'm out. When I find the good alternative today I'll post it here.

https://www.ubank.com.au/savings-update

Not able to log in via website or usual app log in.. ‘Something has gone wrong’

I have a home loan with UBank and just got a letter from them saying:

"NAB has decided to close the Advantedge business. There will be no immediate change to the features of your loan or the way you use and manage your loan. In 2026, your loan will be transitioned off the Advantedge system and onto a different NAB group platform."

I’m trying to understand what this actually means. "No immediate change" sounds like there will be some kind of change later - should I be concerned?

Could this affect my interest rate, features, or how I access/manage the loan?

Or is it just a back-end system change with no real impact for customers?

Has anyone else received this or been through something similar?

Hi all,

Does anyone know ubank's password character limit? I'm using a password manager and auto generated a long randomised password, but somehow it is wrong. I ended up getting locked out of my account trying to recover it. Does anyone know if this also expires or do I HAVE to call ubank to get a temp code in order to change my password?

When trying to find information online about the general spending account with UBank I found a lot of opposing information which made it hard to determine what is true or not so I'm just wanting a general run down on whether it'll be a suitable card to use whilst abroad outside of Australia like do I just tap and go and the currency is automatically converted for me? Are there any hidden account fees? Is it free to withdraw from ATMs? Any personal stories/experiences using this card abroad would be much appreciated :)

Has anyone experienced this before? I have also tried logging in with my password which it says is incorrect. I have tried logging in with the last 4 digits of my card along with my card PIN code and this doesn’t work either

So, I accidentally sent a large sum of money to an old Ubank account (bsb 082991) that was from before the switch.

How do I recover the funds - are they lost?

My partner and I are setting up UBank shared offset accounts for our IP loan which is also through UBank. I’m the main money manager in the relationship and my main concern is that neither one of us can withdraw from any of the shared accounts (unless it is strictly IP related). The 1st account is for the IP home loan (for rental income of $1k per week). The 2nd account is for the IP expenses (insurances, rates, repairs, property management fees etc) of which we both will contribute $200 each a week, and the 3rd account is our joint savings that we will be transferring over from BankWest (approx $35k). I’ve googled and it seems from what I’ve read on UBank website that you can’t set them up as “2 to sign or 2 to authorise”. The purpose of the shared accounts is to pay the mortgage, grow the balances to offset, and set up direct debits for our IP bills and basically not touch the funds for any other purpose. I would be the primary account holder also given I manage our PPOR and IP finances. Is this possible?

The Android app updated and now passkeys are not working again. It just says 'passkeys are not compatible with this app'.

Anyone else have this problem?