Ubank seems to be ending partnership with rediATM

non-core promise on 11/10/2018 - 18:16
Last edited 11/10/2018 - 20:46 by 1 other user

We're making some changes to your USaver Ultra account terms and conditions.

What's changing?

Effective 10 November 2018, we are making changes to how Sweep functionality works. If you do not have available funds in USaver Ultra when making Online purchases, direct debit payments via UBank VISA Debit Card or making in-store purchases selecting ‘Credit’, Sweep will automatically transfer the necessary amount from your USaver into your USaver Ultra so that the transaction can proceed.
From 1 January 2019, ATM transactions at rediATMs will no longer be free for UBank customers. However, you'll still be able to use over 10,000 ATMs fee free across Australia.
We've also updated the terms and conditions to:
amend the definition of 'contactless purchase' to include reference to wearable devices;
amend the definition of 'electronic equipment' to include reference to NFC enabled devices or devices with integrated virtual assistants.

When do these changes take effect?

The new USaver Ultra terms and conditions, which include these changes, apply to your account effective 10 November 2018 (although as noted above, some of the fee changes won't affect you until a later date).

I'm not sure what the changes to Sweep mean compared with before.

Related Stores

ubank

rediATM

• 

  Neoika on 11/10/2018 - 18:25

  +3

  Plenty of other BIG 4 banks' ATMs for free anyway.

  • 

    donga100 on 11/10/2018 - 19:32

    +1

    Exactly. Makes no sense for them to pay rediATM for their network when other larger networks are available for free.

• 

  user27 on 11/10/2018 - 18:27

  Also dont lose your ultra card! because the sweep thing means that if someone steals your card they get sweep all your savings while going on a shopping spree

  • 

    AdamFury on 11/10/2018 - 21:40

    +2

    Yeah this is actually a little concerning. Hope there is some sort of cap on spending and not just until your USaver account empties.

• 

  [Deactivated] on 11/10/2018 - 18:32

  How are the sweep changes different to now?

  • 

    Nalar on 11/10/2018 - 19:47

    -1

    Credit instead of debit? also I don't think it was direct debit before but I could be wrong?

• 

  AdamFury on 11/10/2018 - 21:34

  Got this Email today and feared the worst like an interest rate drop. Luckily I never use ATM's and I don't think I've ever used a redi ATM. Great update with the sweep on the visa though because not being able to make a credit card purchase without manually moving the money into the account was one of the few things I disliked.

• 

  [Deactivated] on 12/10/2018 - 00:18

  Same as CUA bank, I'm glad com bank and nab are still free.