What you get
A joint account means you’ll have shared access to the account, and can both access and operate it independently (you’ll have separate profiles and you’ll both get a Visa debit card with an Ultra, for example), so it’s best to only open a joint account with someone you trust.
If you’re saving for something together, UBank has lots of tools to help you, such as an Ultra Bonus Interest Rate. This is a higher interest rate that’s great in helping you hit your savings goals sooner, particularly with two people’s salaries going into it.
to earn the bonus interest each month as long as you:
- Hold a USaver and Ultra account – they have to be in the same names;
- Deposit at least $200 per month into either account from an external source during that month;
- Maintain a balance of $200,000 total or less across all your USaver and USaver Ultra accounts. This is inclusive of you and your partner’s accounts (i.e. the cap doesn’t double to $400,000 because there’s two of you).