#upbank — Public Fediverse posts

Up bank have just gone on a comment deleting spree on a long-standing github issue asking for a basic feature of their API (payments/transfers).

Now I'm curious what the big secret reason is that no bank will offer it...

#AusBanking #AusFinance #UpBank

So #UpBank is going to start doing the sneaky thing a few other banks do (which should be illegal) where they steal the interest from your savings for that month if you (god forbid) need to use some of your own money during the calendar month, while marketing the theft as "helping you save". I switched from ING to Up Bank because ING started doing this a while ago. Anyway, looks like I'm in the market for a new bank. I'll probably go with Ubank, but happy to take recommendations.

Edit: Ubank are doing the same in October 🙃 (thanks @Techn1x)

Edit 2: Opened a Macquarie Bank account. They seem to be the best. 4.50% no strings attached. No fees. Thanks for the recommendations everyone!

Review of #UPbank.

My husband and I have got rid of our mortgage and our usual bank has been bought out by #anz so we decided we wanted to have fun.

Looking around we discovered #UpBank. We do have quite a bit of savings so I thought I should do my homework. There were several things:

1. They are a youth version of banking backed by the Bendigo and Adelaide Bank.
2. The website is very colourful and flashy so had to check everything out.
3. There were mixed reviews online. People who said it was great, people who hated it.

So we thought why not and OMG is it fun.

My husband and I created our own Up accounts and then created a joint 2Up Account. Debit card numbers supplied with all.

Every transaction we get pinged on so we both know when money is coming in and out…so much better than our previous bank. Also I have had Commbank accounts prior to #suncorp and my #SMSF is in #westpac, chinese walls and all that. None of these big banks thought joint account owners should be told when money is moving around.

So any bill I set up to be paid my husband knows it is paid and won’t nag me later to ask if it is paid. Bliss.

The savings tool in Up is ….I’m going to say…awesome. So much fun. I’ve set up all sorts of buckets for different reasons. As interest rates are a joke I really don’t care whether theirs is more or less than someone else’s. In my financial brain they are about right.

The app is very easy to use…..but I like playing with apps, I don’t think I would put my 80+ year old parents on it.

We got our daughter to set up one as she will be boarding next year in another state and we wanted something that she could work with. She was always having problems with the stodgy Suncorp App.

Don’t think #Upbank is laps on security. I got put on hold when trying to, stupidly, transfer money to my husband. I hadn’t yet got my head around how easy this thing was and did something dumb. After a couple of hours, with passport photo check on New Year’s day, all was sweet.

You don’t have to get a debit card printed…they are using all wallet functionality and I always forget to have the card on me….I wish the state governments would hurry up with drivers licences.

If you like to hold a debit card in your hand you get one provided. Your choice.

So to summarise:

* getting rid of my credit card (yah!)
* moving my company to the stodgy version of Bendigo and Adelaide Bank because you know companies can’t have good communication fun.
* Setting up my 12 year old on B&A Bank as he isn’t old enough to join #upbank yet.

* still having fun transferring my money over from my old bank to Up. I am taking it slowly and checking everything and slotting the money into appropriate savings groups.
* I get insights so I can see where the money is being spent.
* I open up my savings so I watch the money splash around. Never get tired of it.

@donkey @JonathanMosen @explorergrace I came across a platform called #Debut. Since November last year, they changed tack, and are building New Zealand’s first digital bank, similar to #Monzo, #UpBank #Revolut. I’ve submitted several ideas to the team, including getting onto #Mastodon. https://community.makingdebutbank.co.nz/t/getting-debut-onto-mastodon/283

@DavidBurela #ZLEV needs an easier way to pay for #EV drivers too here in #Victoria.

At the moment, it's a bit like, if we asked petrol car drivers to not pay petrol tax on each tank, then save it for the end of the year. Paying #VicRoads quarterly would help "a little", but weekly would match how people pay at the bowser

Using #UpBank - I set an EV tax saver, at the moment, hoping $15 a week automatically transferred does the trick 🤞