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2% Cashback on Eligible ubank Visa Debit Purchases (up to $10 Cashback Per Month)

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2% Cashback on Eligible ubank Visa Debit Purchases (up to $10 Cashback Per Month)
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treebytheriver on 06/02/2024 - 07:02 ubank.com.au (1370 clicks)
Last edited 06/02/2024 - 12:19 by 1 other user

Got an email:

Want a sweetener when it comes to your expenses? We hear you. That’s why for the months of February and March we’re giving you 2% cashback on eligible Visa Debit card purchases (up to $10 per month).

It’s simple to reap the rewards. Almost any spending will be eligible for cashback. Whether it’s a combo of purchases or a single expense, if you hit the $500 mark or above you’ll get the maximum cashback of $10 to your account.

Excludes Eftpos, betting/gambling transactions, purchases with cash-out, the purchase of gift cards, account fees, cash withdrawals, cash-equivalent transactions, third party payments such as AfterPay, BPAY, PayPal or PayPal equivalent or transactions not made on Visa Network.

Referral Links

Referral: random (1284)

Referrer and referee each receive $20 after referee makes 5 settled card purchases within 30 days.

Financial Cashback Debit Card VISA

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closed Comments

  • JC1986 on 06/02/2024 - 07:15
    +11

    Not sure if things have improved, but i had the worst experiencing using Ubank about 1 year ago. I wasn't able to transfer out money, and issue was never resolved via multiple support phone calls and complaints. I had to withdraw from ATM in order to move to another bank.

    I was the black Ubank account user so my accounts were migrated into the new purple. I heard the issue wasn't as popular amongst new account owners but my loyalty has expired due to this experience. It's a shame because I did like their app.

    • treebytheriver on 06/02/2024 - 07:17
      +6

      uBank were great in Japan since there is no international transaction fees. But I can see how bad experiences would impact that.

      • JC1986 on 06/02/2024 - 07:36
        +3

        I used it in 8 countries with no issues. Absolutely loved it. I only had uBank and Citi cards back then.

      • bluedufflecoat on 06/02/2024 - 08:39

        What about atm fees?

        • JC1986 on 06/02/2024 - 12:18

          I always went to major bank atms so didn’t remember any fees.

        • treebytheriver on 06/02/2024 - 15:05

          It was 200 yen at Japan post which was pretty annoying. But just did one big cash out. Surprisingly so many restaurants and even supermarkets take card with no fee, so that's where it helped.

          • JC1986 on 06/02/2024 - 15:16

            @treebytheriver: Didn't see any fees at 7/11 atms. But i used citi card rather than ubank in Japan.

            • treebytheriver on 06/02/2024 - 18:42

              @JC1986: Yeah I was an idiot. I saw Japan Post had free fees, but it was only for local cards, oh well. Learn for next time.

    • kerfuffle on 06/02/2024 - 07:24
      +8

      I was also a migrated customer; no problems on my end. Was able to withdraw large amounts of money when I needed to

      • JC1986 on 06/02/2024 - 07:34

        yeh, my friends are their happy account owners too. No issues so far. In my case, i was happy using it overseas and it was my everyday card until outbound transfers stopped working. My wife had the same experience too. Was not even able to transfer $1 out…

      • Iggemo on 06/02/2024 - 08:29
        +2

        Same. In fact Ubank is great cos the money transferred is instant, it doesnt take the usual 24-48 hours to show up, it's just there immediately whether going in or out.

    • muncan on 06/02/2024 - 08:07
      +9

      “They took our sweeps!”

    • bitcoinorbust on 06/02/2024 - 08:25
      +2

      Ive also left. The customer service has taken a noticeable dive and they've threaten to lock my account twice in past 6 months unless I did some questions in the app. Well nothing coming up in the app this time and they didn't return call so easier just to get out of there. Had been my main bank since they first opened.

    • cashless on 06/02/2024 - 08:55
      +2

      Yeah, I also got burnt in the change from Green/Black to Purple.
      Accounts were immobilised for days, endless phone calls unanswered (including a personal record 2 hr 45mins before I hung up).
      Poorly organised transition, terrible customer service, lack of support, IT fail.

      Ubank service seems slightly better, but their "chirpy, upbeat" emails grate.

    • poppingtags on 06/02/2024 - 10:17
      +1

      Customer service and app functionality are certainly lagging (I've found Macquarie to the best on this front), however for the low number of hoops to jump through for a relatively high interest rate, I'm happy to stay…for now.

      • JC1986 on 06/02/2024 - 12:22

        Yeh, I’ve kept my accounts with $0 balance for worst case scenario, so technically I’m still their customer. I did this for the exact reason. For a relatively high interest rate, no other bank is easier and simpler.

    • Reveen on 06/02/2024 - 11:54
      +1

      I received an apology letter from NAB over their handling of the UBank 86 400 merger with back paid interest - I'm thinking of framing it.

    • ginormousgiraffe on 06/02/2024 - 20:16

      The new one is much better than their old black and green brand.

    • Astro551 on 07/02/2024 - 09:36
      +1

      I actually had a similar experience recently as well. Phone call resolved the issue, but was very troublesome not being able to send money, as well not being notified why this had occurred.

  • Jujji on 06/02/2024 - 07:21

    What would constitute a Visa card purchase? I don’t understand the conditions, call me drunk, but I thought when you tap your card to buy something, that’s eftpos. There’s a long list of what this offer excludes, but what can you buy and by what method in order to take advantage of this offer?

    • kerfuffle on 06/02/2024 - 07:24
      +4

      When you tap your card, that goes via the Visa network. You can buy things online as long as you don’t use Afterpay. You could buy groceries in store and that counts as a Visa card purchase

      • UrMumsOnlyFan on 06/02/2024 - 09:04
        +2

        https://cms.ubank.com.au/wp-content/uploads/ubank-visa-debit…

        eftpos payments are not eligible for this offer. eftpos payments are payments which are made by selecting ‘CHQ’ or ‘SAV’ on a payment terminal or in a mobile wallet at the point of sale, or any payment which is routed by the merchant through eftpos (which may include payments made by tapping your card or device at a payment terminal). Ubank doesn’t have any control whether a merchant chooses to route a transaction through eftpos.

        EFTPOS can include payments made by tapping your card or device. See WookieMonster's post below.

        • kerfuffle on 06/02/2024 - 09:36

          Yeah, but unless you get given a choice, it'll go through the Visa network rather than the EFTPOS network

          • WookieMonster on 06/02/2024 - 10:19
            +4

            @kerfuffle: If I tap my physical ubank debit card at Coles, I do not get to choose whether my payment is routed through Visa or eftpos. Coles chooses whether my payment is routed through Visa or eftpos (and this is based on which network has the lowest fees for Coles).

          • nokia3660 on 06/02/2024 - 21:47
            +1

            @kerfuffle: not any more. Merchant utilising Least Cost Routing/Merchant Choice Routing can route the transaction through the cheapest network for that individual transaction.

          • Gooddeal21 on 12/03/2024 - 20:17

            @kerfuffle: if you tap your phone you can actually select visa or eftpos

    • Pecan on 06/02/2024 - 07:26
      +1

      Tap and go payments trigger Visa. To eftpos, you’d need to insert/swipe the card then press SAV(ings) then enter your PIN.

      • Jujji on 06/02/2024 - 07:35

        Ok thankyou for explaining!

      • UrMumsOnlyFan on 06/02/2024 - 09:03
        +3

        https://cms.ubank.com.au/wp-content/uploads/ubank-visa-debit…

        eftpos payments are not eligible for this offer. eftpos payments are payments which are made by selecting ‘CHQ’ or ‘SAV’ on a payment terminal or in a mobile wallet at the point of sale, or any payment which is routed by the merchant through eftpos (which may include payments made by tapping your card or device at a payment terminal). Ubank doesn’t have any control whether a merchant chooses to route a transaction through eftpos.

        EFTPOS can include payments made by tapping your card or device. See WookieMonster's post below.

    • WookieMonster on 06/02/2024 - 07:55
      +35

      A “Visa card purchase” is a purchase where the payment was routed through the Visa network (i.e. the network where you select CR).

      An “eftpos card purchase” is a purchase where the payment was routed through the eftpos network (i.e. the network where you select SAV or CHQ).

      For card-present payments (i.e. where you are paying in-person), your payment may be routed through the Visa or eftpos network will depend on a number of factors.

      • If you tap your physical ubank debit card on the EFTPOS terminal, the network your purchase is routed through will depend on what the merchant has chosen. The default in Australia for many merchants is Visa, largely because contactless Visa payments were available a number of years before contactless eftpos payments were available. However, there are a number of merchants who do not always force contactless payments through Visa. For example, Coles Group businesses has Least Cost Routing switched on for physical dual-network Visa debit cards; this means if you tap a physical ubank debit card. the payment will be routed through the payment network with the lowest fees, which means your payment could be routed through the Visa network or eftpos network. Another example I have seen is Merchant Choice Routing, where the merchant manually chooses when a contactless payment from a physical dual-network debit card is routed through Visa or eftpos; this could mean that all payments from a physical dual network debit card are forced through eftpos, or only payments above a certain dollar amount are forced through eftpos. I recall being at a health food store once, and their NAB EFTPOS terminal said at the bottom that the merchant had MCR switched on.

      • If you tap your digital ubank debit card on the EFTPOS terminal, the payment will be routed through the network you select on your mobile wallet (assuming you can choose). An EFTPOS terminal will respect the network you choose on your device, which removes LCR and MCR from this scenario. For example, on Apple Pay, you can choose between Visa, eftpos (SAV) and eftpos (CHQ) for a ubank debit card, and you choose a default network on there before you tap. However, on Samsung Wallet, I cannot see a way to choose between Visa and eftpos for a ubank debit card, which means all tap payments using Samsung Wallet will go through the Visa network.

      • If you insert your physical ubank debit card, you will be able to choose between Visa (CR) or eftpos (SAV, CHQ).

      • If you swipe your physical ubank debit card, I have no idea whether you can choose between Visa or eftpos. For example, at ALDI, you should be able to choose, but at Coles, there was one instance where I was not able to choose.

      • Zxie8 on 06/02/2024 - 08:12

        great explanation！

      • browser on 06/02/2024 - 08:27
        +2

        Wow! Never thought tapping a card can be so complicated, goes to show why sometimes a simple change in payment systems can take a long time to implement. Lots of edge cases, regression/progression tests.

      • browser on 06/02/2024 - 08:36

        Also it never occurred to me that I can (or need to) choose between Visa and eftpos, learn something new today.

      • cashless on 06/02/2024 - 08:59

        Hey Wookie, great explainer.
        Can you tell us about PayPal - how to ensure the spend counts?

        • UrMumsOnlyFan on 06/02/2024 - 09:02
          +1

          https://cms.ubank.com.au/wp-content/uploads/ubank-visa-debit…

          Excludes betting/gambling transactions, purchases with cash-out, the purchase of gift cards, account fees, cash withdrawals, cash-equivalent transactions, third party payments such as AfterPay, BPAY, PayPal or PayPal equivalent or transactions not made on Visa Network.

          • cashless on 06/02/2024 - 09:03

            @UrMumsOnlyFan: Thanks. Teach me to read T's and C's ;(

            • browser on 06/02/2024 - 09:10

              @cashless: The exact wording is in this post.

              May be read the post first before the more advanced T&C fine prints.

          • Alley Cat on 06/02/2024 - 11:33

            @UrMumsOnlyFan: How would they know if I bought gift cards unless I’m getting it off places like card.gift or Prezzee? If I spend $500 on a variable load gc at Coles, no one would know?

            • UrMumsOnlyFan on 06/02/2024 - 16:09

              @Alley Cat: Gc bought at Coles should be fine. I wouldn't worry about that being detected.

              However if there are fees attached to the gc then that's obviously going to erode any benefit.

      • Jeeyang on 06/02/2024 - 09:17

        In Google wallet, I cannot find options to choose from Visa, eftpos sav or eftpos chq. No sure about samsung pay.

        • Pecan on 06/02/2024 - 10:39

          It’s on the card terminal at the register in store

          • Jeeyang on 06/02/2024 - 11:08

            @Pecan: If I insert a physical card, I can choose from the terminal. If I tap my mobile phone or my card, I don't think I have a choice.

            • Pecan on 06/02/2024 - 11:59

              @Jeeyang: Correct, if you want to pay via eftpos you need to use your physical card

              • nokia3660 on 06/02/2024 - 22:29

                @Pecan: @pecan - not necessarily. If you bank and the wallet supports it, you can choose eftpos/scheme on your phone as well

        • peter on 06/02/2024 - 12:49

          I can select credit or eftpos in Samsung pay. NAB ran a promotion with Samsung a while ago publicising this feature.

        • nokia3660 on 06/02/2024 - 22:28

          Google wallet doesn't support multi-network cards (a card that has both eftpos & scheme networks) yet. Apple pay does let you choose between eftpos/visa.

      • InfamousCalf on 06/02/2024 - 10:24

        Same, no EFTPOS option in Samsung Wallet.

        I hate shopping at ALDI (surcharge) because of this and have to transfer money to a card with that option during self-checkout.

        • Quarter Pounder on 06/02/2024 - 12:14

          Same, no EFTPOS option in Samsung Wallet.

          It's availabe on my commbank card, maybe uBank haven't enabled it

        • peter on 06/02/2024 - 12:53

          I can select eftpos or Visa with NAB and ANZ Plus in Samsung Wallet.

        • MeesusEff on 06/02/2024 - 13:12

          Even if there was an eftpos option, tapping the card will prompt the surcharge. It only doesn't surcharge when you physically insert the card and choose savings

          • InfamousCalf on 06/02/2024 - 14:50
            +1

            @MeesusEff: At ALDI, it don't get hit with the surcharge when I have had EFTPOS selected on my phone when paying with ANZ or CBA via Samsung Pay.

            • MeesusEff on 06/02/2024 - 14:55

              @InfamousCalf: I have ANZ debit card and I don't get the Eftpos option like Quarterpounder's link above. How did you get it set up?

            • nokia3660 on 06/02/2024 - 22:31

              @InfamousCalf: Can confirm. I use the CBA app to choose eftpos to pay in Aldi and there is no surcharge.

      • UrMumsOnlyFan on 13/02/2024 - 07:47
        +2

        Unexpected results so far. I've never looked at the likelihood of encountering LCR/MCR, but for some reason assumed it was rare.

        From a very small sample of physical card taps, the Ubank app registered Coles, Coles Express and Australia Post as VISA transactions. Aldi, Harris Scarfe and TK Maxx as eftpos. And a handful of small vendors and cafes were split down the middle.

        HSBC's 2% up to $99.99 is the easier option in light of this.

      • pixxelpusher on 16/02/2024 - 00:23
        -1

        How about online purchases? Are they normally processed as Visa when using Ubank's Debit card?

        • WookieMonster on 16/02/2024 - 00:47
          +1

          For card-not-present transactions (e.g. online purchase) on a ubank debit card, those are almost always routed through the Visa network.

          However, least-cost routing also exists for card-not-present transactions using dual-network debit cards (including ubank’s debit card), which means there may be a situation where a card-not-present transaction is routed through the eftpos network. This appears to be in its infancy, so it is unlikely you will run into this during this offer.

    • payless69 on 06/02/2024 - 07:56
      +1

      would be nice to have the exact list of exclusions here.

    • UrMumsOnlyFan on 06/02/2024 - 09:00

      https://cms.ubank.com.au/wp-content/uploads/ubank-visa-debit…

      Which transactions are eligible for cashback?

      To be eligible for cashback, transactions must be made within the offer dates (in the time zone that purchases take place), settled within 14 days and processed by VisaNet (transactions are processed by VisaNet unless they are an eftpos payment).

      eftpos payments are not eligible for this offer. eftpos payments are payments which are made by selecting ‘CHQ’ or ‘SAV’ on a payment terminal or in a mobile wallet at the point of sale, or any payment which is routed by the merchant through eftpos (which may include payments made by tapping your card or device at a payment terminal). Ubank doesn’t have any control whether a merchant chooses to route a transaction through eftpos.

      Excludes betting/gambling transactions, purchases with cash-out, the purchase of gift cards, account fees, cash withdrawals, cash-equivalent transactions, third party payments such as AfterPay, BPAY, PayPal or PayPal equivalent or transactions not made on Visa Network.

      Why aren’t eftpos purchases eligible?

      Ubank is partnering with Visa to make this offer to customers. Because eftpos transactions are not processed on Visa’s VisaNet network, the system isn’t able to “see” them to calculate your cashback.

    • MagpieSilver on 06/02/2024 - 18:16

      Top tip - change the default in apple wallet on one of your cards to Eftpos (not visa) and if you shop at Aldi, you won't pay any card fees

  • Pecan on 06/02/2024 - 07:30
    +3

    Might be targeted? I did not receive the email

    • inherentchoice on 21/02/2024 - 06:00

      Ah I started using my card for everything because of this deal, but only now just realised I am not targeted.

  • nang18 on 06/02/2024 - 07:42
    +3

    targeted offer: https://cms.ubank.com.au/wp-content/uploads/ubank-visa-debit…

    "We’re offering selected customers 2% cashback on Visa Debit card purchases in February and March 2024, capped at $10 per month"

    • treebytheriver on 06/02/2024 - 08:00

      Thanks for confirming. I had suspicions when I was the first one to post the deal. I assumed someone would have beat me to it!

  • payless69 on 06/02/2024 - 07:45
    +1

    Beaten me to it.
    Now gotta blow 500 bucks to get my 10!

    • abs898 on 06/02/2024 - 07:51
      +3

      Don't spend it on blow, buy food

      • payless69 on 06/02/2024 - 07:54

        Please chase me, I need to shed weight!

        • abs898 on 06/02/2024 - 08:26

          That's not very Queenslander of you

  • countmein on 06/02/2024 - 07:56
    +2

    Will be my primary card if its not only for two months

  • Aussiecash on 06/02/2024 - 07:59
    +1

    Essentially it covers the card transaction fees that all merchants now charge

    • Tleyx on 06/02/2024 - 12:19

      Do your merchants charge two percent?

      • Aussiecash on 06/02/2024 - 14:02

        I’ve seen up to 1.8% visa/mc. Each shop charges different rates

        • Tleyx on 06/02/2024 - 18:13

          Yes so it more than covers

  • daydreamerzzz on 06/02/2024 - 08:06
    +18

    HSBC everyday global card is free and has 2% cash back on visa purchases under $100, max cash back $50/month. It also has no intl transaction fees.

    • mitty on 06/02/2024 - 08:10
      +1

      Ditto, been using HSBC for ages, up to about $1K cashback over the years. Weird bank, not as pretty as Ubank or UP, but 2% is 2%. Funnily enough I am a Ubank customer and I recently emailed them some feedback about something and did suggest that they match the HSBC 2% offer, which it appears they have (at least temporarily) but I have not received the email saying I'm targeted. C'est la vie.

      • Tafe on 06/02/2024 - 09:03
        +3

        Came here to also spruik HSBC

    • Mokr on 06/02/2024 - 09:17

      Yeah but it's not as motivating compared to points

      Even if it's a bigger return.

  • MrThing on 06/02/2024 - 08:33

    So generous of them

  • OzTortoise on 06/02/2024 - 09:10

    This is not a better deal than the HSBC Everyday Global Account 2% cashback so no point to switch to use this UBank cashback offer.

    • Mokr on 06/02/2024 - 09:18
      +1

      No tap

    • JIMB0 on 06/02/2024 - 09:19
      +10

      This works online and for transactions over $100.

      • Craze on 06/02/2024 - 09:37
        +1

        This would be the main advantage of this offer over the HSBC one

        • Tleyx on 06/02/2024 - 12:22
          +1

          Couldnt you use both offers so you get $60 a month not $50 with ing only

    • nokia3660 on 06/02/2024 - 22:41

      HSBC do need you to deposit 2k every month to be eligible for the 2% cashback, but if it is your daily driver should be easy to hit it.

  • seraphim64 on 06/02/2024 - 09:20

    can international students open a ubank account? remember for a while you'd had to be a PR or citizen

    • AnyFurtherDiscount on 06/02/2024 - 09:55

      Yes you can! Valid passport and visa required.

      • seraphim64 on 06/02/2024 - 18:21

        Tried it and in the app set up, it said - “ To join us, you’ll need to be over 16 years old and an Australian citizen or permanent resident.”

        :(

    • Mistredo on 06/02/2024 - 19:12

      I don't think you can.

  • hoyanikon on 06/02/2024 - 10:16
    +2

    Would international transactions be eligible for cashback?

  • ely on 06/02/2024 - 10:56

    Now I'm mad that they haven't offered this to me.

  • souths123 on 06/02/2024 - 11:05

    going to use this to pay for my major car service this month. Will prob be close to the $500 in one go. I use HSBC for smaller ones anyway, so this is just a bonus with the $500 limit, as I don't have to split it into payments less than $100. Will insert card and select Credit.

  • aquavires on 06/02/2024 - 11:06

    Excludes… the purchase of gift cards

    How do they check?

    • tharlow on 06/02/2024 - 11:15
      -1

      It’s OK if you’re buying them for personal use. Just don’t give them away as gifts, because ubank is all about u

  • chongecse on 06/02/2024 - 11:35
    +3

    Hope they are testing the feature and will roll it out to all customers after March.

  • timhn on 06/02/2024 - 11:57
    +2

    Didn't get the email. I guess they didn't target me because I've never use the debit card for anything except withdraw from atm

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