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   Know that your deposits are protected by the Australian Government guarantee on deposits up to a value of $250,000 per Australian financial institution per person.
 
We’ve been doing it since 2008 (we know we look young).
 
We have more than 600,000 Australian customers … and growing.
 
We’re trusted with more than $16 billion in deposits.
 
As part of the NAB Group, we have the strength of one of Australia’s largest financial institutions behind us.

FAQs

What’s the Australian Government Guarantee?

The Australian Government guarantees deposits up to $250,000 per person per Authorised Deposit-taking Institution (ADI) including UBank. This means that your deposits up to $250,000 with a financial institution are guaranteed by the Government to be paid back to you in case that financial institution fails.

What if I have an account with UBank and NAB?

Deposit accounts held by a customer with an ADI are added together for the purposes of the Australian Government guarantee. This includes accounts held directly with NAB (as UBank is a division of National Australia Bank Limited).

e.g. If you have both NAB and UBank deposit accounts, the Australian Government guarantee applies to the combined value of these accounts.

Where can I get further information on the Government Guarantee?

More info can be found on the Australian Prudential Regulation Authority (APRA) website.

What’s the UBank Defence? 

Should the worst occur, you’re still protected.

The UBank Defence is our promise to you that we’ll reimburse 100% of your money should it be fraudulently taken from your account, provided:

  • It’s clear you didn’t contribute to the loss, and
  • You promptly let us know when you become aware of any unauthorised transactions

For more visit ubank.com.au/security