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The perks of being a UBank cardholder

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The perks of being a UBank cardholder

Savings accounts and home loans are our bread and butter. But did you know you can have the ultimate banking trifecta with UBank when you open a transaction account with no international fees? You’ll also unlock one of the best bonus interest rates out there when you sign up for one.

What is USave?

The name says it all, USave is our savings account. If you’re in the market to save, whether it be for a holiday or your first house, USave could help get you there. No-strings, no sign up or monthly fees and no minimum deposit required. You can feel confident knowing the money you’re diligently putting aside is getting a healthy dose of interest, calculated daily.

What is USpend?

If you want a little more out of your USave, as well as the ease of making daily transactions and no overseas ATM or transaction fees, adding a USpend transaction account is the way to go. USpend has no monthly fees, and a cheeky bonus rate. What’s not to love?

USave and USpend go together like vegemite and toast. They’re linked together, so the USpend works hand in hand with your USave to boost your savings.

Again, there’s no fees whatsoever. And when you chuck in just $200 a month to either account (your salary for example), you’ll unlock our 1.00% p.a. bonus interest rate earning you a whopping 1.10% p.a. total interest rate on your USave savings*. 

We also use Sweep technology so you can have most of your money earning maximum interest in your USave, with your spending money automatically swept (transferred) into your USpend account ready for when you need it. Pretty cool, right?

Be fee-free, overseas!

When you’re done saving for that European vaycay, we want your money to go towards creating amazing memories, and always having room for dessert. That’s why we don’t charge ATM withdrawal and foreign exchange fees when accessing your USpend account overseas.

If you’re an iOS or Android customer, you can switch on push notifications to get your security code sent from within the UBank app, all you need is Wi-fi access.

Unleash your saving potential with access to Free2Spend

Here’s where having a USpend account gets even better: you automatically get access to Free2Spend, our fab in-app tool that helps you keep on top of your savings goals, while comfortably knowing exactly how much you have to spend every day. 

With one simple tool, you can input your savings goal (with a time-frame, like 12 months) and tag in all your bills and fixed expenses like rent, groceries and transport. Free2Spend will automatically send the right amount of savings into your USave each pay cycle, and the rest? You’ll get a daily Free2Spend number, so you know exactly how much you can play with each day. Which means, when you want to splurge on that long lunch or reward yourself with a takeaway after a busy day, you can do so knowing your holiday is still within sight.

The PINs-and-outs of our accounts

A couple of things to note when it comes to PIN numbers and your UBank VISA debit card:

  • Your card will be sent to you first
  • Next, you’ll receive your 4-digit PIN. Memorise this (we then recommend destroying the paper copy)
  • Your card comes with contactless payment tech of course, but you’ll need to make an initial purchase using your PIN before you can start tapping

Re-issuing PINs

If you do need a new PIN reissued at any stage, you can easily request one to be sent out from your UBank app. Your new PIN will be mailed out to you within 3 - 5 business days, so make sure you’re factoring that in when it comes to your cash needs during that period. PINs can’t be reissued online or over the phone.

Don’t let these perks pass you by. Sign up to your very own high-interest earning USave & USpend accounts, today.

 

*To qualify for the bonus variable interest rate on eligible amounts in your USave account(s) in a calendar month, you must have both a USave and USpend account and deposit $200 or more into your USpend transaction account or your linked USave savings account from non-UBank accounts during the same month. The bonus variable interest rate will be applied to a combined balance of up to $250,000 held in your USave account(s), including joint accounts. Any remaining balance greater than $250,000 will earn the USave base variable rate. Bonus interest is earned the same month you meet the bonus interest criteria. If you qualify for bonus interest, your interest will be paid in 2 credits. The first credit is calculated using the base variable rate, and will be visible in the morning of the 1st of the following month. The second credit is the Bonus Interest, which will be processed overnight on the 1st, so please check your account on the 2nd of the following month.


The information contained in this article is of a general nature only. It doesn’t take account of any person’s objectives, financial situation or needs. Before acting on this information, you should consider whether it is appropriate for your circumstances and seek independent legal, financial, and taxation advice.