UBank USaver Ultra Transaction Account

UBank USaver Ultra Transaction Account

Fee Free Deposit

0

Account Keeping Fee

0.00

Add this account to a UBank USaver savings account and enjoy no account keeping fees, no overseas ATM fees and no foreign transaction fees.

  • Earn up to 2.87% p.a. on your balance
  • 24/7 account access with Internet banking and mobile app
  • Link to any Australian transaction account

Product details

Add the UBank USaver Ultra transaction account to a UBank USaver savings account and access any ATM overseas for free, and pay no foreign transaction fees on online purchases. Plus, you can earn competitive interest on your savings.

This account must be added to a UBank USaver savings account. Read on to learn more about the account, and the steps to follow to open one today.

When you link this account to a UBank USaver savings account, you’ll enjoy a competitive interest rate on your savings.

Product Name
UBank USaver Ultra Transaction Account
Monthly Account Fee
$0
Debit Card Access
Visa
ATM Withdrawal Fee
$0
Interest Rate p.a.
2.87%
Joint Application
Yes
Fee Free Deposit p.m.
$0
Overseas ATM Withdrawal Fee
$0
Phone Banking
No
Fees
$0
Internet Banking
Yes

Features

Here are all the key features of the UBank USaver Ultra transaction account you should consider when comparing your options.

No account keeping fees

This transaction account has no monthly account keeping fees to worry about.

Access thousands of ATMs in Australia fee-free

Use any NAB or RediATM in Australia for free. Australian debit cardholders can also access Westpac, ANZ and CommBank ATMs for free; however, some other ATM operators may charge a fee.

No fees when using the transaction account overseas

You’ll pay no overseas ATM withdrawal fees and no foreign transaction fees when using your UBank USaver Ultra transaction account internationally. Plus, you’ll pay no foreign transaction fees when shopping online from overseas retailers.

Earn up to 2.87% p.a. on your savings

You must add this transaction account to a UBank USaver savings account. You can opt for just the UBank USaver on its own, but you’ll only earn the standard interest rate on your savings.

You can earn bonus interest up to if you add the USaver Ultra transaction account to your UBank USaver, and transfer at least $200 per month into either account. The bonus interest is applicable on balances up to $200,000.

Sweep technology helps you save

Set up your own limits for how much money you want to regularly add to your savings, and how much you need in your transaction account for everyday spending and bills. Then, the built-in sweep technology will automatically move money between your transaction and savings account each night to ensure your savings goal is met, and you have enough for expenses.

Internet and mobile banking

View your account balance, recent transactions and make transfers or online payments anywhere, anytime with Internet banking or via the UBank mobile banking app.

Pros

  • No account keeping fees
  • No overseas ATM fees or foreign transaction fees
  • Sweep technology helps you meet savings goals
  • Access ATMs in Australia for free
  • Earn up to 2.87% p.a. on linked USaver savings account

Cons

  • This account can only be added to a UBank USaver savings account and cannot be opened on its own
  • Can’t access all ATMs in Australia for free

How to apply

This account can’t be opened on its own. It needs to be added to a UBank USaver savings account. You can get started by following the two steps below, but make sure you meet the account eligibility and have the necessary documents handy before you begin.

Eligibility

  • You must be 18 years or older
  • You must have an Australian residential address

Documentation needed

  • Your tax file number, or tax identification number if you’re a US citizen
  • Identification in the form of an Australian driver’s licence or passport

Steps to open the account

  1. Click “Go to site”. You’ll be securely redirected to an online application form where you can open your UBank USaver savings account. This will take less than 10 minutes.
  2. Add your UBank USaver Ultra transaction account. Make sure your USaver has a balance of at least $1. Then, log into your UBank online banking portal and go to the “managing” tab. Click “new account”, then “USaver Ultra” to add your new transaction account.

Your new debit card will arrive in the mail to your residential address usually within three to five days.

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2 Responses

  1. Default Gravatar
    AlexNovember 6, 2018

    Hi team,
    Is the bonus interest applied to the amount held in the USaver or USaver Ultra account?
    I understand both accounts need to be held for the maximum interest rate to be received.
    Thanks!

    • finder Customer Care
      NikkiNovember 6, 2018Staff

      Hi Alex,

      Thanks for getting in touch! The bonus will be applied to balances held in the USaver Savings Account Linked to your Ultra Account provided you meet the criteria in the current month, you’ll start earning the bonus interest on your linked USaver savings account from the 1st of the following month. Please note that withdrawals from either the USaver Savings Account or Linked Ultra account do not affect your bonus.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Cheers,
      Nikki

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