Looking for simple account that doesn't require transactions per month, etc. Also outside 18-35 age range.
Is ubank the one to go for?
Is ubank The Best Savings account with highest interest rates that requires no hassle?
yjun355 on 26/10/2022 - 08:19
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Thanks. That fine. Mainly looking as pure savings and park the money
The legacy account allows me to direct debit from the USpend account, even though there is no money in the account. It then "sweeps" that amount from the USave account. Not sure about the new UBank?
ubank is slow to pass on interest rate increases - usually a month behind
for reference im with them
As are Virgin, but Virgin locks your money up for a month in a mini TD.
Yesterday I also discovered that you cannot pay cash into uBank… Great app though.
ing's hoops are pretty easy to fulfil, if you can do 15 mins of planning.
xfer 1k from a side account in and out every month if you do not have a wage going in
buy 5 apples a month
always reduce balance on last day to $1 above previous balance
Assuming you at some point want to use some of your savings, you will be ineligible though and lose a lot of interest income.
no you don't,
is it really that hard to follow a simple process.on the last day of everymonth, move the savings you have back out, then the next day move it back in
month 1 your end of month balance (EOMB) is $1 plus interest earned
month 2 your EOMB is $1 more than month 2
repeatmy misses has 98k in her ing. the EOMB is about 7k
It is not simple for me, so yes. For me, unsnk suits better. I can't be stuffed jumping through hoops at a particular time every month, to ensure I get the interest. Plus I'd prefer supporting a business that doesn't make me have to jump through hoops to potentially avoid paying me the thing that is the reason I've invested with them in the first place.
@cookie2: It’s as hard as taking your bin out ffs
Your life is so hectic you cant spend 5 minutes moving your money whilst doing a dump.
Go for it then earn less money due to laziness
Less than 15min…it is soooooo easy to do this.
I thought there were no transaction hoops with ubank, just a $200 deposit?
?
Oh sorry I missed that you were talking about ING
Go with Macquarie, no hoops and no fees.
I'm with ING. I had about 100k in savings but spent 18k this month. Not gonna hit the requirements obviously.
Can I open an account with Ubank and get interest for this month, then transfer back next month? Have I left it too late? Would I only get 4 days worth of interest anyway?
"You’ll need a Spend account and deposit $200+ per month into any of your Spend or Save accounts"
Just be mindful you cannot do direct debits from the USave account (the one that gives the high interest). You will have to use the USpend account (transaction account).