this post was submitted on 03 Jun 2024
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AusFinance

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Ubank updating the terms of their savings ("Save") account (www.ubank.com.au)
submitted 5 months ago by MHLoppy@fedia.io to c/ausfinance@aussie.zone
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Key info:

From 1 July

  • New external payments from Save accounts will no longer be available. This includes direct debits, PayTo, BPay, and BSB & account payments from Save. See below for how to switch your existing payments.

  • We’re introducing our new bonus interest tiers for your savings.

  • We’re increasing the amount you need to deposit to qualify for bonus interest from $200 to $500.

Forgot to post this earlier. More discussion on OzBargain, among other places.

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[–] Baku@aussie.zone 2 points 5 months ago

Oh, I remember reading about the thing with payments from savings accounts but I didn't realise they were upping the requirements for the bonus interest. Truthfully, I don't manage to save enough for the bonus interest to be worth anything anyways