Ubank - Now down for 3 Days? Are You Affected?

Ubank has been down since Saturday, and there seems to be a lot of angry customers.

Most of their system's down. There no method for accessing any of the funds.
No ATM, No POS, No phone banking, No internet banking via website and mobile, No mobile app, No automated/scheduled transactions

To make things worse they don't even have an ETA for the fix.

I usually use Ubank to pay for my car loan, so now the payment will be delayed + late penalty fees. (lucky I don't use Ubank as my main bank)

Is anyone else experiencing a similar issue?

Is there anything we can do? (i.e ask for compensation from ubank?)

Has there ever been a case where a bank got shut down and all the funds become lost?

Related Stores

ubank
ubank

Comments

  • Has there ever been a case where a bank got shut down and all the funds become lost?

    UBank is backed by NAB, highly unlikely this will happen.

    Is there anything we can do? (i.e ask for compensation from ubank?)

    https://www.facebook.com/ubank/posts/10154917912579054?comme…

    Appears they will compensate people for any fees incurred due to the outage.

    • Yeah, I saw the fb post.
      I wonder if the "fees" they are referring to only applies to fees charged by Ubank.

  • +1

    Yes, there's a faq on their website also which indicates they will compensate. I tried to login on Saturday and noticed it was down, I didn't really need to do anything important so only checked again today and was surprised it is still down.

  • I just now logged into Ubank and was able to able to check my transaction history. But I didn't try to make a transaction. There is a black banner stating "

    We continue to experience technical issues which means you will be unable to access Internet Banking including from all mobile devices. For more information, click here."

  • +1

    All fixed according to post by Rep on Facebook

  • what a fail, this type of thing really shouldn't happen in this day and age

    • +1

      Even more damaging considering the nature of the business (ie. unable to login to an online only bank).

  • Noticed it yesterday, but managed to log in after trying a few times and paid some bills

  • -5

    Any lawyer here?
    How about running a class action, because customers can't use atm during weekend?
    Embarrassment damage?

    Somehow we need to punish those bank mobs they rack in million net profit each year.

    • +2

      Embarrassment damage?

      Bahahaha. Courts would never award damages for someone being "embarrassed".

      Not to put light of this current situation, but the number of people that complain how there card was declined, (any bank, not just UBank) and how they were embarrassed in front of a total stranger that does not care of their financial situations, really need to HTFU.

  • +3

    This is why you shouldn't put all of your eggs in one basket. Have credit and debit cards with a few banks just in case. I have a Ubank account but used my Commbank instead when uBank wasnt accessible. Easy.

  • +1

    weird. I have not had any issues all weekend and only just learnt of the outage now. granted, i didn't try to log in - but eftpos seemed to be unaffected for me - though all of my transactions would have been paywave.. also didn't use an ATM…

  • +1

    Notice on front page -
    "Our systems are now available. We apologise sincerely to customers for this outage."

    I wonder what happened. Possibly had major hardware failure. Give them a break. They've been pretty good to us depositors for a long time.

  • I didn't even notice even though I have automatic payments going in and out. ING Direct has a higher savings rate so I already moved the bulk of my cash over there.

  • These issues are often due to an upgrade that didn't go quite to plan or a failure in the systema and failover didn't work properly. End to end testing of complete systems can be problematic and things may only become evident when an outage occurs. It will be interesting to see what they think is fair compensation for costs incurred but the inconvenience of not being able to check your balance is, really, not an issue. Maybe I am an old fart but I can remember when the only way to get funds from your account was for the branch you got the money from to ring back to your own branch - your balance was hand written in your passbook - interstate access to funds was particularly problematic if you had a state based bank. People really need to step back and get some perspective on life's issues. I look at what happened in Melbourne last week and it puts my issues starkly into perspective. My thought with anyone who was affected by that awful incident.

  • +1

    Whilst not banking there, I would change all password and security settings you hold.

    Whilst these these failures with big banks 😎 if and when my bank was being hack attacked i believe they have pulled the plug with Tec difficulties reported!

    This is a good thing.
    Remember there is lender in last resort.

    • Thanks for this info.
      I still don't know what the issue was but better to be safe than sorry.

  • They don't have the options of ASP or moving money into accounts anymore, only out. Weird. I guess they want people leave Ubank, I'm serious too. Just tried to do a transfer now, it can't be done.

    • i remember seeing an email from them, advising ASPs are discountinued

      • I sent an Email asking them about it, they say it was discontinued on 8th January and sent out an email a week before. Oh well.

        • I'm using the macquarie transaction account now and ubank as my savings account. Works quite well tbh. I use my CC 90pc of the time, so just tf from ubank to my CC when the time comes.

          I should move them to ing as they offer 3pc, instead of 2.8pc on ubank…but meh

  • I'm going to close down my account at the end of the month. Many banks over the last few years have lost interest in depositors. Ubank is definitely one of them, ING has not, they are still giving out deals to attract new customers.

  • I saw on the Ubank website they are offering $300 free gift card to persons who refer people from Facebook for homeloans.

    https://www.ubank.com.au/content/dam/ubank/documents/faceboo…

    I don't see it being too successful because who would get a homeloan from a facebook referral?

Login or Join to leave a comment