Money Matters

The perks of having ubank accounts


When you sign up with ubank, you’ll get a Spend account, a Bills account and a Save account. Each account comes with its own great perks to help you make the most of your money.

What’s a Save account?

Our Save accounts are meant to help you hit your savings goals faster. Here’s some of the benefits of having a Save account:

  • You can open up to 10 Save accounts and set savings targets on any of them – just tell us when you need to hit your target and we’ll come up with a plan to get you there.
  • Save accounts don’t have any monthly account fees.
  • When you have a Spend account and you deposit $200+ per month into any of your Spend, Bills or Save accounts (not including internal transfers), you’ll get our bonus interest rate on all your Save accounts on combined balances up to $250K.

What’s a Spend account?

Our Spend accounts are transaction accounts for your everyday spending. They also come with heaps of great benefits:

  • You can set up Apple Pay and Google Pay™ in your digital wallet even before you receive your physical Visa Debit card. You can also use Samsung Pay, Fitbit Pay and Garmin Pay.
  • Once you get your physical Visa Debit card, you can set up your PIN straightaway in our app.
  • Transfer almost instantly to and from your Spend account with PayID and Osko (if your other bank also has it) and pay bills on the same day through BPAY as long as they’re made before 6pm (Sydney time) from Monday to Friday (excluding public holidays).
  • If you’ve left your physical card at home, you can always access your full card details in the app wherever you are.
  • There are no monthly fees with our Spend accounts, and we don’t charge for overseas or online payments, using your card overseas or making ATM withdrawals (although some ATM operators may charge a fee on their end).

What’s a Bills account?

Our Bills accounts are transaction accounts designed to help you manage your bills more easily. It’ll allow you to:

  • Separate your money for any bills away from your everyday Spend account (so you don’t accidentally spend it).
  • Pay expenses straight from your Bills account using whichever method you prefer, digital-only Visa Debit card, direct debit, PayTo, BPAY or Electronic Funds Transfer (EFT).
  • Add bills to the Bill Planner to view how much you’ll need to set aside into the Bills account each pay cycle.

Can I share my ubank accounts with other people?

You can set up a shared Spend or Save account in a matter of seconds if you and your partner-in-finance are already ubank customers. Simply head to the ubank app, open a shared account and invite your partner-in-finance. Once they accept, you can start enjoying your shared account together. If you’re not already ubank customers, you’ll just need to download the ubank app and activate your individual Spend and Save accounts, then you’re ready to set up a shared account together.

What if I have an account with another bank?

Got an account with another bank that you’d also like to keep? We don’t mind if you see other banks – in fact, we’ll even make it easier for you. You can connect accounts from over 140 financial institutions in our ubank app or online banking, including your super and investments. You’ll see the money across your connected accounts in the one place.