Xinja vs UBank
Find out which innovative account will better suit your needs.
If you're looking to switch bank accounts or want to open a second account, both Xinja and UBank have a range of features that make them both options to consider.
Xinja is a new digital neobank and UBank is a larger online bank. Both accounts offer features to help you manage your money and keep your costs down. Here, we will compare the two so you can work out which is the right account for you.
Xinja vs UBank USpend
When compared side by side, here is how the two accounts fared:
- Best for use as a transaction account: UBank
- Best for travel: Xinja or UBank
- Best for understanding your spending: Xinja
- Best for bill splitting: Xinja
- Best for payment options: UBank
- Best for security and support: Xinja
|Account type||Prepaid card and app||Transaction account and linked savings account|
|Spending analysis and insights|
Xinja automatically categorises your transactions, gives you insights into your spending with widgets and keeps you on track with a daily spend figure
|UBank also offers some budget features. You can track your spending in the UBank mobile app and get a Safe2Spend figure to help you budget|
|Payment options||Currently offers contactless payments but no digital wallet capabilities|
Available on Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay and Visa PayWave available on Android
Split payments between your friends or request money from them
|No payment splitting feature is currently available|
|Savings account||There is currently no savings account available|
UBank USave comes with a linked savings account with a bonus interest rate of1.6% p.a. if you make monthly deposits of 200. There is also optional sweep technology to automatically move money to your savings account
No international ATM fees and you will be refunded the foreign currency fee
No international ATM fees and no foreign currency fees
|Security and support|
You can lock and unlock your card instantly and access live chat 24/7, all within the app
|UBank has a live chat option on its website but you need to call them to cancel your card|
|Fees to consider|
|More||Xinja full review||UBank full review|
If you are looking for an account that optimises your savings efforts, gives you an overview of your spending and doesn't charge you fees for travelling, UBank's USpend offers all of these features. It is also the option for you if you want to be able to use a digital wallet or if you have an Android phone.
Xinja, on the other hand, would be more suitable if you want deeper insights into your spending, to be able to split bills and request payments from friends, to be able to lock and block your card instantly in the app and benefit from no international fees (apart from the foreign currency fee which is fully refunded). Keep in mind, also, that Xinja is consistently adding more functionality to its app and products. So if a feature that is important to you is not available now, it may be included down the track.
Both Xinja and UBank offer a range of features that can benefit you depending on how you want to manage your money. However, if you are still not sure if either option is right for you, you can compare other bank account options, including digital banks, to find the best one for you.
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