ubank Avis 

Absolute worst bank I have ever dealt with.

Bans people from joining with no explanation.

Uploaded all my sensitive data into the application and then rejected with no explanation or way of rectifying.

Called to ask what the error is and told "we can't help you, sorry, you won't be able to sign-up to our bank".

This is extremely unfair as it blocks certain people in society from earning good interest and forces them to use other banks who have monthly fees and low-interest earning accounts.

I see that in October Ubank will be changing the system to qualify for bonus interest on the ubank save accounts. Currently if you put $500 in every month, you qualify for bonus interest of around 4.6%. From October, to get the bonus interest the balance has to grow by $1 a month.
While $1 is obviously not much, this is not going to work for me as the balance of my accounts fluctuates dramatically through the month.
I am sure many people will be in this situation.
That means that I will either make sure that any extra money I have is not with Ubank but in my mortgage offset account, or I will change to another bank that provides bonus interest, such as ING.

Used to be innovative and competitive, now just NAB but with worse service and no branches. They are now also following the trend of making it as difficult as possible to earn any interest on your savings with them. Don’t waste your time and effort.

Ubank in my view were going well for my needs. However they have just sent out an email advising of imminent and upcoming changes to the way interest qualification applies. It is a con and just another sneaky tactic to make earning interest on your account to their advantage. Suddenly they decide you have to increase your balance monthly to earn interest knowing full well at some point you won't meet their drmand condition and they screw you. Stay well clear of this bank they are just evil sharks. Be warned.

They suck they’re trying to keep 3k because even though I’ve ID verification multiple times they ask again after my wallets been stolen and my dogs ate a corner of my passport so now they won’t except my passport even when taken to jp and done manually and it takes 30 days to get new ID but they give me 30 days to verify otherwise my account will be closed and it’s got 3k sitting there that I’ve needed so bad but can’t use coz of this bulcrap!!! Definitely do not recommend oh btw they have no branch either like a normal bank so no chance of going into do it like you normally would?!

Withholding access to funds by restricting my account with no explanation as to why. Telling me my funds will be transferred with 2 business days. Still nothing.

ECONOMIC AND FINANCIAL abuse is a form of abuse when one abusive person has control over the victims access to economic resources, which diminishes the victim's capacity to support themselves and forces them to depend on the perpetrator financially.

I decided to leave Ubank as their security demands have ruined the once excellent software.
I called to arrange a temporary daily increase to my withdrawal limit and after a great many questions and 30 minutes on the phone was told my new limit had been approved.
When I tried the transfer, the message was cannot transfer to this account so I tried a lower amount and the same message came up. Then I tried those two transfers again to a different account with the same result.
Next I informed Ubank what had happened and spent another half hour while someone looked into it & corrected the problem.
Tried again and the same error message on two occasions. Back to Ubank and a different person investigated, with the same result.
Next I was transferred to their security people who questioned me endlessly and twice tried to fix the problem without success.
Another failure was when I was scammed and contacted Ubank, to be informed that they needed a great deal more information and it would take from 60 to 120 days to resolve the problem.
Using Wise for the same issue it took only a day or two to have the money refunded.

This company deserves a negative review

UBank froze my account immediately after I deposited $1,000 and tried to use the card overseas even though I had notified them about my travel. It was the first time I ever used the card, and it was instantly blocked.

This meant I had no access to my money during my trip, couldn’t use it for anything I had planned, and had to rely on a backup card with high international fees. I spent days calling them (international calls I had to pay for), and they took 7 days to unlock my card, only for it to be blocked again the next day.

It’s now been over a month of trying to resolve this. I’ve sent photos, verified my identity multiple times, and still nothing. Their customer service is unhelpful and inconsistent. Recently they even said I need to go into a physical branch, which defeats the entire purpose of using a digital bank.

UBank has held my money hostage, ruined my travel, and cost me time, money, and peace of mind. Absolutely unacceptable.

Opened an account because I was going to Vietnam and called a week before to make sure I don’t need to do anything else before I go so there were no issues before I got there. As soon as I landed my account was blocked. They needed ID verification so I sent it to them straight away. Being a long weekend the ID team was off so I had to wait until they returned 4 days later. They should have opened my account yesterday when they were back but this is day 2 and my account is still blocked. After many chats on the app and 2 international phone calls later they still can’t do anything. My account is still blocked and now they blocked me from the app as well and can’t get me back in so I can use the chat function. This is the worst banking system I have ever used. What any normal bank would be able to fix by talking to someone, it is impossible for ubank to do. Don’t use them. They are the most useless bunch of people I have ever tried to resolve an issue with.

I got a mortgage with them and it has been an absolute nightmare. No one helps you, doing any movement like in any bank would be simple is impossible, they change the rules of their accounts so often that end up making you have a mess with recurring payments or having to change them. Changing a phone number is an issue that they cannot help with. Making an extra payment is also an issue. Just avoid 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.

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 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.

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.

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.

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 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.

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 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.

Doesn't let me set up account. And horrible customer service