Is this new or have I just missed somethnig. It seems to get a very good interest rate if you satisfy the conditions, which is easy for me.
But I'm sure if its a seperate account to apply for, or is just part of Ubank saver account.
Is this new or have I just missed somethnig. It seems to get a very good interest rate if you satisfy the conditions, which is easy for me.
But I'm sure if its a seperate account to apply for, or is just part of Ubank saver account.
guys…
heads to whirlpool, there are alot of infos there.
need to clarify here.
* you can have both, so you dont HAVE TO deposit anything to ultra and still get high interest on the normal uSAVER. if you deposit $2k you will get bonus interest, and not just one month but every month you make that deposit, till dec 2013.
normal usaver is a saving online account, therefore no debit card, no atm, no direct debit ability, etc
ultra is a transaction account, you get atm card, you can set diret debit to pay your electricity, credit card bills, your morgage, etc
no fees, the catch is you need minimum $500 on ultra, and ultra account does not get any interest! the interest (and the bonus one if you qualify) will be on the normal usaver account.
also
there is a auto sweep facility.
That bonus rate used to be on top of 4.41%, now it's included, so it looks like the base rate has dropped by 0.7% if I remember correctly. That's huge…
Wrong.
The normal bonus from Usaver still exist, plus another extra bonus.
Example for me,
Now I got 4.77% interest!
let me know if you get the 4.77% interest the next month as im curious to see if the 1.06% bonus if for the one month or up until the end of december..
Checked my account and I was mistaken all this time. The 0.7% bonus was included in 4.41%.
It says you can have ATM, BPAY and VISA debit card with the Ultra account, so it seems we don't need a link account anymore.
I'm tempted to start a UBank Ultra account just so that it becomes easier to transfer money to other savings account with promo rates.
Questions:
1. Are you required to maintain a minimum balance in the UBank USaver?
2. Can you link the UBank Ultra to another online saver (eg. RAMS)
3. If you attempt to withdraw more than your UBank Ultra balance does it automatically take it from your linked UBank USaver? If so, that is really cool.
1.after having 10k in USaver to open Ultra and deposit 2k monthly to ultra balance should be $500 in Ultra & enouph funds in Usasver to tip up Ultra to 500 if you spend $$$.
2.linked only to Usaver,which could be linked to anything…
3.yes.
I looked at in and opened it in 2 days ( to qualify for bonus October by:
trans 10k to existing Usaver ( 1 day ), then open Ultra,then transfer 2k into Ultra ( 1day ) and
then only left 500 in Ultra transfered funds into Usaver to maximy return.
Done.Now transfer 2k from outside into Ultra during month to qualify for the next month…
Thanks!
Interest rate went down to 4.67% - disappointed…
It a bit of a complexes account .
Dear Ubank
Why can't you just have a every day account that offer
Visa debit card
No fees ( Monthly and ATM , fx fees are understand ok )
And earn a high interest rate
None of this crap about swapping and chAnge , fine print and rules . Bonus and deposit limits
Like bankwest hero account
I only noticed it on Friday so it seems new to me.
I decided it's not worth the move from USaver for the following reasons:
• Must deposit $2000 per month (i.e. salary)
• Saving bonus of 1.06% (which puts the base of 3.71% up to 4.77%) is only for your first month. After that it reduces to 0.8% which is only 0.1% better than USaver's bonus of 0.7%
So it kind of boils down to whether you are willing to put your salary into UBank and use it as a transaction account as well for the sake of 0.1% more interest than just using UBank as a saving account.