Finally, for all those ppl who thought Rabo were good.
Ubank now 6.42% p.a. with ASP.
Have fun switching accounts! :)
Ubank Saver up to 6.42% p.a. with ASP Saver Bonus. Std Now 6.01%
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Why would you bother? Rabo will never compete again (as you are currently only enjoying an introductory rate)…
You would be smarter to close the Rabo and then reopen when another introductory offer comeswell Thats not totally true you dont need to close your account as you indicate, Rabo gives you the extra over what you had in earlier, so if you reduce it to zero, then you will get the higher rate.
And for all the ubank fanbois, (of which I was one once) the move to Rabo, saw ubank make a change. If nobody moved as was advocated by some here ubank wouldnt have made the move to match.
ubank started to offer the higher rate only to those who threatened to move and did so by calling them. So much for ubank looking after those who hadn't indicated they would move.
So dont be idiots, the banks will go with those who help themselves, they are loyal to the $$. Likewise support those who offer the rates.
So now ubank is giving the best rates. For that it makes sense to go back. But its now only .02% over Rabo, so really using the argument that others had before about going to Rabo for .14% why would you bother going back. (and you have to deposit $200 in each month, which can be difficult for some)
When the end of the year comes up and Rabo drops their rate back. And we'll see what happens competitively then, yep back to ubank.
All that said, its nice to see ubank reacting to market pressures. Unfortunately they just got too smart by holding off on giving rises and other games, so they have lost a lot of goodwill. So lets see if they keep it up, come December if they are being competitive and dont play any more silly buggers I'll brink all that money back.
Another thing they quietly got rid off is their SMSF accounts. Rabo and other banks provide this service, so there is a lot of money therethey wont get from this little puppy
So my negative which I pondered a lot a bout, is to indicate that this isn't a bargain - its a catch up and they haven't been all that responsive or proactive, more reactive and have been self serving rather than customer oriented, and .02% isnt really a bargain.
So not worthy of a neg!
Also, I bet Ubank raise again before year end, while Rabo only have their "introductory rate".
Wait - your a moderator - OMG, I may have to leave ozbargain….Do you work for ubank?? NAB ??? (yes I am being sarcastic) - how can you say that given their past performances - of holding back on rate rises etc?? Reward them for being proactive not reactive. Look back on history here.
The negative will have people look at what really they are doing rather than just blindly voting this up. Without Rabo raising it to 6.4% and people moving, they would have been happy to leave us plebs with the 6.26%. tahts what you are voting for
@[Deactivated]: Yeah a bit scary he's a mod given his obvious bias. Yes without competition banks would never raise interest on savings. Yes they are only doing it in response to Rabobank. That's not news. Nor is it neg worthy. Surely you are in violation of your own guidelines by "guessing" the motivation of the ubank for raising interest rates and voting negative because of it. It really isn't material why they raised it. Only that it is available for everyone.
@[Deactivated]: say Company A throws me a PS3 for 250$.
say Company B reacts to Company A's offer and offers it to me for $230
should I be negging Company B's deal because they did it to beat Company A?
I don't think so.
@aurotaro: Given your logic, and applying it to this scenario, 0.02% better on $250 is 5 cents.
So if company B offered a product for 5 cents cheaper on an extra condition that company A did not impose, is the 5 cents worth it?This deal is good for:
Those that have $200 or more a month to do the auto savings to get the bonus rate
Those with existing funds in Ubank already since moving around means losing interest for a day or more@Munificent: Mate, fail logic. If an individual has an interest savings account of $250, they really don't deserve to have an interest savings account.
I didn't mention as to which deal is better etc. as I really don't care, but, to neg the deal is quite unfair since rabo's is valid only upto end of the year and ubank has its own T&C's. How about giving both a +ve if both sound good :)
My point was only that the negging was unfair.
@aurotaro: How is 0.02% higher a bargain? It's like Harvey Norman selling the PS3 for $350 and then somebody decides to come along and post on ozbargain that Domain has it for $349. I think OzBargainers should reconsider the definition of "bargain".
@massari: To those three above.
Mod or not I can have a personal opinion. I did explain why and gave a lot of details. You can agree with me or not, that's your freedom here. BUT alleging that I have used this position because I am a MOD isn't fair.
Check the rules on voting Negatively. I believe I comply with guidelines, Care to point out where it isn't complying?
I did this to stimulate discussion on this deal, its not that great.
A step in the right direction. But there are conditions.
- You have to have a regular savings plan
- There is a cap of $200,000 to get higher rate
- Ubank have been the last to pass on rate rises - sometimes as late as a month, so that can also affect the total return you get with their .02% "advantage" - Thats not so easy to calculate because we only discover this after the event. But their track record of late hasn't been good
When Ubank first came to market their base rate was the highest, now its not.
We can also use examples of numbers up the Razoo $20 off a PS3 = 8% discount. We are talking here of .02% difference And on a $1000 deposit that's 20c $10000 that's $2 $100000 thats $20 and if we then go to the cap of $200,000 where this rate then drops back to 6.05% its extra $20
And if you put $250,000 into this deal you then end up with $875 less with ubank than say Rabo Bank (above is per annum)
And dont compare This rate to what it might be in the future compared to the others. In December we'll look at things then. Hopefully for savers this will be higher, for borrowers well they will want it to be lower.
So go play with your numbers with your PS3
@TtiGeR: So voting negative on a deal is showing bias, I explained why - would you be so kind to point out what justification you have for this bias claim?
No, I just hate having to move my funds. Ubank will stay the most competitive, thats all.
Thanks again for the NEG!as I said they only gave it because others moved their funds - you got the benefit of those here who did, so really they're the ones who should get the kudos not Ubank.
So no thanks to you for leaving your funds there - LOL
OMG - Do you have any clue? If nobody had moved there funds to Rabo, Rabo would have to come up with a way hotter deal. None of this "introductory rate" bs. Then Ubank, as promised by them, would beat that. You need to show them that they have to offer a big difference to draw the crowds….
Ubank were 6.05 when Rabo went to 6.4, then uBank jumped to 6.26. Whichever way .35% .14% are a lot better than .02%
And really thats stretching things about not going to Rabo and then they would have jumped higher than 6.4% - Yes that could be true. Hey then lets all transfer our money to the Commonwealth, get 1% and Ubank will have to jump to 7% Is that the theoretical clue you are trying to give us??
The reality is that people did move to Rabo, and ubank lost a lot of funds. and again ubank started giving certain individuals the higher rate and others like you didn't get taht higher rate - thats how much they respected your loyalty.
This was discussed in the Rabo 6.4% thread - the one you hammered Rabo then and said the 6.21% vs 6.4% wasnt worth shifting for. So now people should shift back for a measely .02%??
I was one of those who jumped onto Rabo's 6.4% when it came on.
Just put in the order to have my money moved back.It's all done online so it's straightforward once it's all set up. I'm closing the Rabo account once I get interest at the end of the month.
UBank should just put in a kind of guarantee that they'll be the highest always. So they react each time the market moves. Say if ING comes out with a 6.43, they simply have to match and no one has to move.
It's a pity Gerd left. I really liked the idea of a Friendly face from the bank listening to what we ramble on about here… .
so did I, until the standard rate is at the same level of Rabobank I'm keeping my money in its new Rabobank home.. plus I don't always have my Rabobank key with me so I can't move around at a whim http://perthhacks.blogspot.com/2010/04/introductory-bank-rat… hehe
Man, Scotty must be making quite a bit of money on this well placed Rabobank advertisement!
The only thing switching at UBank are the people.
The MD Gerd Schenkel - who used to post many comments on OzBargain - has recently left and is one of the reasons why UBank haven't been as "customer focused" and "market reactive" as when the first started.
You will see more NAB influence on UBank over the coming months.
I think this was always going to happen. Ubank is worth too much to the NAB group now..
I am happy to switch to send messages to banks. It's better than any kind of surveys you've ever done.
I haven't closed my Ubank account. I can simply put my money back there. I don't need to close Rabo either.
That's simple. BTW, Thanks for this wonderful deal.True. I see where your coming from. Enjoy!
Update
As pointed out by footy, if you have an existing UBank account and a linked account, you could set up an ASP to have it's first transaction before this month ends, then you should get 6.42% for the rest of the 6 months.
If you do not have a UBank account, if you can set up your UBank account today, you probably could set up an ASP to go through before the end of the month, so long as you stay on top of the process and know what to do and when.
So, if you shifted your money to Rabodirect, that narrows it down to, how much interest is lost in shifting the money to UBank vs the .02% gain per day.
184 days in July - Dec
Bonus interest of .02 % * 184 days -> rough approximation of 3.68 % days
Loss of interest during the transfer is around 1 - 3 days if you have to get the funds cleared (ie you can't direct debit or credit … I forget which term applies) at 6.4%
-> 6.4 % * (1 to 3 days)
-> 6.4 % days to 19.2 % daysSo even a 1 day loss of interest may outweigh any gains made.
So … if you lose any days of interest during the transfer, it's still a loss making exercise to transfer the funds back.
Still hoping UBank will increase their rates more :)
or Rabo will increase theirsIt's not worth shifting. Assuming you lose 2 days of interest you would need to wait 6.4/0.02 x 2 days which is roughly 600 days to make up the money.
I have an ASP in May. My ASP Bonus is still valid as it is on a monthly basis.
It is only a small investment of $200 with high interest to keep you with the bonus.When the bonus come in, you can enjoy it for the whole following month.
Whether you are content with Ubank or not, I recommend you guys:
Keep $200 in the account - set up regular payment out/in on a monthly basis.
That's it - you get the bonus. When the rate is high just come in. When it is low just leave Ubank.
One more point - you can link any kind of account to Ubank -don't need to be transaction a/c.
You can link CBA netbank, for example.
You can't direct debit that account of course, but you can transfer >20k out of Ubank to that account.
This is very helpful when you want to flee UBank.Quick to come in and quick to go out… That's my principle.
If you use Ubank ASP to pull the funds I believe you get the interest while its transferring…
I will stick with Rabo until the incentive is more than .02
I don't have either Rabo or UBank
so I guess this is a good bargain for me if I am new customer?Withdrawing my comment
You should read the detail from each bank and make the decision. There are differences/limitations in the details which will help you decide which bank is the better one for you (at the time). It's not just a simple rate comparison.
Comment replaced.
For customers transferring money back, from Rabo to UBank …
If you transfer your funds back to Rabo, if you lose interest for any days during the transfer, then it doesn't look worth it unless Ubank stays ahead by at least 0.02% for almost a year (and nothing more attractive comes along).
So it becomes a bit iffy, depending on someone's assumptions.
I think Footy wrote somewhere that UBank's rate will stay on top past December … for that assumption, it might be worth the shift.
To me, UBank has been slow to pass on much if any of recent interest rises and UBank haven't been on top for over a month, so I doubt UBank will stay on top of the interest rates for a year.
That said, neither of us know what will happen. It's up to the individual to make their own assumptions and deal with them.
Love your work foundit. Keep it up.
Ubank matching competitor introductory rates either shows it has the power to do it, or they are forced to do it because they want to retain their customers who are itching to move to rabo for a few months.
When you think about it we are just trying to push banks into bankruptcy or removing that particular plan and other banks take advantage of this.
The problem is, when the rabo introductory rate ends, uBank will not be able to reduce their rate without customer backlash. Rabo will go back to 5%, and then profit by over 1% from all the customers that keep their money there.
Either way its the customers choice where they put their money, but I just disagree with people who think Rabo are a decent bank. If they were worthy of going with they would have a high PERMANENT rate, instead of an introductory rate designed to get customers in but not take care of them afterwords.
Since Ubank have opened they have maintained the highest interest rate excluding introductory rates, no other bank has done this so that is why I have my money with them. I'm not going to give it to a bank who thinks they can draw me in with a nice introductory rate and then act like the other banks are scum because they can't match it.
I hope some of you realise that a bank can offer 10% interest while losing money, and that might suit them because of all the customers they will get to keep after the rate finishes.
Why reward bait and switch?
No, we aren't pushing them into bankruptcy. :P
They have their own regulations to follow such that they are NOT supposed to get themselves to go bankrupt chasing part of a percentage.
If they can reinvest the money for an expected higher return, then it may be worth it to them to offer a higher interest rate to try and increase their funds pool. eg ING used to offer higher interest for new money.
If it's not worthwhile, to increase the savings rates across the board, then there are other ways they can try to get money, possibly at a much higher interest rate (leading to questions about whether an extra investment is worth the time, effort and upfront cost).
UBank have not maintained the highest interest rate since the first day they opened.
It's not a matter of rewarding bait and switch or loyalty.
It's not a matter of what other people might or might not do. (eg you suggest customers who went to the trouble of moving their funds to Rabo … for some reason … won't move their funds to UBank if UBank offers a definite increase in interest)
Just focus on yourself and your interest and leave the other variables out of the model.
I mentioned bankruptcy as sort of a motive behind competing banks, I don't believe it will actually happen.
I just find it amazing that people can be negative towards Ubank when they are the reason why we have such high percentages and will most likely be for a while to come.
Introductory rates to me is a business playing dirty.
Has anyone thought of setting up an ASP of $200 for next week? Then the week after you will get the 6.42%. Then you transfer all your cash across!!!
Whats 0.39% of $200 for 1 week?mod - personal attack not necessary; good point made without it
Looking at if it can be done:
Today is June 24.
Last business day of June is June 30.
So, as long as the ASP goes through by then, yes, you should have 6.42% immediately.Can it be done?
If you have a linked account to an existing UBank account and you are happy to transfer the money across from the linked account regularly?
Then yes. You defintely should be able to have the ASP in place. I will correct my comments. Thank you footy.
If you have to create an account?
That only takes moments if you have the right documentation available. Then you can log on and work with it straight after that. (If you don't have the right documentation at hand, that could add 1 or more days depending on how long it takes to find it / get the required documentation)
Setting up a linked account takes 2-3 business days to go through the verification process. (Transaction from UBank has to become visible; then the person comes back to UBank to verify)
If a new user sets up the account today, and gets the account linked on Monday or Tuesday, the person can get it put through hopefully on the Wednesday and be okay.
Joining up with UBank … I think that was pretty much instantaneous. Set it up in a few minutes and you can log on after that, and work with your account. That probably won't affect anyone's ability to set up an ASP for next week.
Setting up a linked account takes about 3 business days. If you already have one set up then you've finished that section already.
An ASP can be set up after there is a linked account. An ASP transaction can occur on the next business day.
So yes, if it is tightly managed, a new user could be enjoying 6.42%. My apologies. I will update my comments
samfisher5986 Agree but its the banks who are rewarding the switch. In Rabo's case the intro rate, ubanks thru the loyalty bonus, they are not loyal to us. When we get loyal to them they take advantage of us
I am sure if someone were to work it out .02% of an increase is negligible to most people in terms of any real increase in savings. Unless you had heaps of money in the account and even then I am not sure. In general terms, however much we hate banks 6.4% interest is pretty good. I remember over the last 10 years when I have been saving for a deposit for a house interest rates for what is essentially at call accounts were pretty terrible. It is only since ING Direct started and offered a half decent return for savings that other banks have had to follow. I think that this increase is nice to know for people but really not worthy of a positive (nor would i neg it either). I think that the actual account, its services, security and options can be more important than a minor difference in interest rate. When I had savings I had my money with Elders online (now called Rural Bank), their interest rate now is still 5.10% but it was relatively competitive a few years ago, it offered BPay, direct debit, transfer to anyone etc. so it was useful for me in that regard, more than a slightly higher interest rate. Back to topic, I remember that Rabobank made a big deal some time ago in their advertising that they just had a competitive on-call rate with no intro or sneaky rates to suck you in. I even recall someone from the bank criticising that sort of strategy. So I reckon all banks are pretty hypocritical , there is no longer any loyalty. I guess Gerd from Ubank was pretty special actually coming into an environment like this and posting.
I think UBank may not increase its rate if RBA moves the rate higher on 6th July and Robo may increase the rate. I will stick with Robo to see if this matter happens.
Gee whiz. Are you kidding. Rabo is an "introductory" rate. THey aren't gonna move i. Whereas, Ubnk promise to have the highest rate…
Footy - stop making outrageous claims.
As Foundit says just stick to the facts. You dont know this. Rabo's statement is that it is a bonus rate
To quote their website
The special rate is a fixed 1.40% p.a. above our standard variable rate, currently 5.00% p.a.
So if they increase their standard rate it will go up. Just like Ubank has a "standard rate" None of us will know if they will move their standard rates when the Reserve Bank changes its rate. And taht goes for all banks
Fair enough, I guess we shall let time decide ozpete.
Also, read the last Rabo 6.4% thread. Seems my "outrageous claims" are slowly coming true.
On UBank's rate assurance
UBank promise to at least match some of the banks (and so, they left Rabo on top for over a month)
UBank does not promise to match rates boosted by bonus rates
We've seen, UBank will wait till after their Friday meeting. So if the rate is increased by another bank on Monday, Rabo won't make an announcement till late Friday.
Isn't the assurance split between the ASP bonus and the regular rate? They can announce a higher rate, but really, it's not higher till the next calendar month after the announcement. (Announced ASP bonus rate changes don't come into effect till the calendar month after the announcement)
Wasn't point 2 added to the terms and conditions AFTER UBank failed to keep their assurance of matching the rates? So, they've already broken and amended the promise once?
I am just trying to clarify what footy is claiming.
In regards to point 4, I see the interest rate of my UBank account showed 6.42% now.
@Future Kids: Thanks for confirming that.
At the end of point 4, I was just quoting the UBank website which was a little open to interpretation.
Ubank's rate would be much more attractive if they offered the bonus on the first $200k, if you have more than $200k, rather than making you totally ineligible for the ASP bonus. As it stands, Rabo is substantially better for anyone in this situation.
For people with that kind of money, they may be able to negotiate a better rate from other banks. Just a thought.
And they are that bunch of people who can get interest rate matched to Rabo's 6.4% back in May.
but their saving has to be $xxx,xxx level.
I saw in other thread that people who has $xx,xxx tried to negotiate rate with UBank but Ubank didn't give 6.4 to them.@SummerMan: I am one of them, but was offered negotiation by a "kindly" staff from UBank who cause me loss of two days of interest. That's is another story.
Hey SummerMan, while you are there, can you tell me the best way (minimum interest loss) to transfer $85,000 from UBank to Rabo?- Link Rabo to Ubank. (Do it in advance.) In fact, whenever you get a new account, link it to UBank. They give you one cent for doing so. Why not doing it?
- When you want to transfer, call UBank to transfer the money. The whole amount will be processed on the day without 20k limit. No interest loss.
@SummerMan: Thanks SummerMan. I thought money arrived at other bank the next day via PayAnyone.
Another trial run for me then…@Future Kids: Only crazy banks like Suncorp does that. (Transfer today but credit other banks/bpay tomorrow)
Other normal banks credit the recipient accounts on the day you make a transfer.
However, the fund will be available for withdrawal on the following day.
It's a standard practice of banking because interbank transactions are processed overnight.
Well done UBank! I have both the 6.4% Rabo account and now 6.42% UBank. No matter on what people's views are whether it's worth switching money or advertising small interest rate rises on OzBargain, I believe it's very important to encourage competition between banks. May the interest rate war long continue :-)
wont be moving back for .02%..
also ubank seem very haphazard in their rate changes. i think with gerd and other employess leaving it has upset the applecart. i dont have faith in ubank anymore to move their rates in a timeley manner with the competition so im happy at rabo for nowI agree that this increase is unexpected and I can't get it the increase immediately as the earliest date I can take my money in Ubank by DD is tomorrow.
I thought change in overall interest rate don't come through till the next calendar month?
If the ASP Savings Bonus changes when will I earn interest at the new rate?
The new rate will be applied at the start of the next period. E.g. if the ASP Savings Bonus interest rate goes up in May and you continue to meet the eligibility criteria in May, you'll earn interest at the new rate for the June period.
taken from https://secure2.ubank.com.au/ub/web/customer-help/about-usav…
I looked at my statement online. I get 6.42% because I have ASP in May.
(I stopped ASP early this month and moved to Rabo.)What I did today is that I set up ASP again so that I can still have 6.42% next month.
ASP, of course, starts tomorrow, I don't need to rush taking money out of RaboBank.
Will I still get ASP Bonus if I withdraw money from USaver account from time to time?
Say I deposit 200$ every month and withdraw $5000 two times per year.Sure.
What I suggest is you leave $200 in Ubank account.
Set up regular payment to you linked account and ASP from that account on the same day to cancel out. That's it.You can do other transaction as usual and still get the bonus from that.
Excuse my ignorance, but what is this ASP bonus everyone is speaking about?
Depositing at lease $200 monthly to UBank by direct debiting you linked account on a regular basis is called "Automatic Saving Plan".
Does it have to be set up as an Automatic Savings Plan?
Does making regular direct debits manually, count as an ASP?
I think it must be done through their ASP system. It where you link your account to another bank account and it automatically transfers. You need to do at least $200 within a month (ie set it up to withdraw $50 weekly etc).
No. It has to be on a regular basis.
I did set it up and cancelled it several times.
The first time is because I had to change from 100 to 200 (Ubank changed its condtions).
The second time is because I flirted with Rabo for a while.This is not a big deal.
Have $200 in there. Set up a transfer of $200 out and in on the same day for 1 year. That's it.
This doesn't affect your interest that you will earn from UBank as your money is there 100% of the time.
When you don't like it, just cancel it. There is no string attached.No, I don't think so. Otherwise, it would have just called minimum monthly deposit.
I don't use an ASP and still get the max interest rate (including the savings bonus that is).
I just transfer $200 in and remove it if/when I need it during the month (being a student = unpredictable income).
Does anyone successfully setup UBank account as the linked account of RaboDirect account?
As Rabo will debit $1 from the linked account when setup and UBank do not allow direct debit.
And any suggestions on minimising the interest loss during money transit between these two bank accounts?No. You can't link Ubank to Rabo. It is too risky.
But you can link Rabo to Ubank. One cent credit to Rabo doesn't hurt, but direct debit from Ubank will surely make a problem.
Yes, I linked Rabo to UBank with no problem when I transfered 97% of my money to Rabo in May.
I tried to figure out what is the best way (minimum interest loss) to transfer money from Rabo to UBank.- Set up a transfer at UBank today from a Rabo-linked account, it will be effective tomorrow.
- Transfer money from Rabo to that link account tomorrow.
This is the best method I can think of. You lose only the different .02% on one night. That's minimum.
@SummerMan: Thanks. Maybe that's the only way too.
Oh… I didn't see the second half part of your reply.
Wow, that's cool. I always thought there will be a day or two in interest loss…
I will do a trial run :)@SummerMan: I don't think you will lose interest with that method at all.
Example:
1) Withdrawal: In Rabo, schedule deposit transfer to linked account in commbank on 25/06/10.
2) Deposit: In UBank, schedule ASP to withdraw money from the same linked account in commbank on 25/06/10The statement at commbank will show withdrawal and deposit on the same day 25/06/10. The last day of interest for the amount transferred at Rabo will be 24/06/10 and the first day of interest for the amount at Ubank will be 25/06/10. So no interest lost!
Run it through the ASP on UBank. Dont know about the reverse.
No, it can't. ASP on UBank means direct debit from Rabo which is not allowed.
harsh neg vote
Lol, RaboDirect ad is playing at the top of the page.
Don't click them as Rabo has to pay for this ads. They will lose money and will not be able to beat Ubank. :-)
lol
There's a NAB ad as well now, although it is for their iPad application.
I was really angry with Rabo when they restricted the 6.4% to new customers and only "new" deposits from existing customers. Particularly when they advertised : “We don’t favour new customers over existing customers. There is nothing worse than rewarding new customers with bonuses and gimmicks at the expense of existing loyal customers.”
Swapped my money to UBank then and very happy to see as an existing customer I'll get the 6.42%
You should have done this earlier.
If you did this early enough, you would be able to transfer back to Rabo to be qualified for 6.4%.Same thing used to go for ING. I drain my account when ING aren't the highest.
Unfortunately this time around, they didn't want new money, for some reason (or they hoped existing customers would bring their money back, by mistake).
Yeaaaaaa, I was just about to move my money to Rabo too. Now I don't need too woopty doo! :D
wow someone is bitter about ubank.
good to see some competition. now lets see rabo go higher again.
I'm hoping rabo goes higher … there're 45 positives on this deal, they've got to know there are lots of people they could sway :)
So much heat. But I agree, UBank has been slipping lately. Either way, I've got all my money in Netbank at the moment, CBA offered me 6.50% on my existing account a few weeks ago.
Can someone explain to me why you would do one of their term deposits and effectively lose access to your money when these savings account seem to offer better interest rates anyway?
Also what is the rate without APS? and if you get APS can you turn it off if you know you can make a payment a certain month etc?
In fear of a interest rate drop??? Does it make sense? Although highly unlikely …
Standard rate is 6.01% stated in the title and .41% bonus rate with ASP, no ASP no bonus rate.Summerman explains about the ASP here
Set up an Automatic Savings Plan. The calendar month after the first payment goes through, you can take get the ASP.
If you cannot make a payment in a particular month, you can delete the ASP.
However, I think Summerman may be able to confirm this, you could just take $200 out of the savings account and put it in the ASP sourcing account, say, a week or so before the ASP goes through.
You can set up automatic transfer to counter ASP. - not a week before - just on the same day. No interest loss!
If you set up ASP for a year, you can set up anti-ASP for a year as well.
So, for the rest of the year, you don't need to worry about it.
The Rabo workers are massively backlogged, I started opening a new account with them a whole month ago! The process still isn't complete.
I tried to chase the better rate with Rabo, but now UBank has caught up, I won't bother.I just got my Rabo account today. Can I keep the Rabo account open free of charge?
What are the disadvantages of UBank? Any fees I need to know about? I hear that you have to keep adding money.
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all those banks are hopeless just chasing each other
anyway, 0.02% wont make me move most of my money back to ubank. fyi, i have both account