If you can say yes to all of the following, you can open a USaver:

• I am a personal customer (not a business or trust)?
• I'm 18 or over?
• I have an Australian residential & postal address?
• I am a Australian resident for taxation purposes?
• I have an email address and mobile phone number (for joint accounts both applicants must have a different email address)?

You can't open a USaver in a company or business name (including sole traders) or in a trust capacity (including DIY Super). Only personal customers can apply.

It doesn't matter who you bank with. In fact, anyone with an Australian bank account can open a USaver.

View UBank's USaver Terms & Conditions here

You've got three options:

• Online at ubank.com.au
• Over the phone by calling 13 30 80 anytime
• Download a USaver application form and return this to us at the following address (no stamp required):
  
  UBank Reply Paid
  1466 North Sydney NSW 2059

When you apply, we need you to tell us certain personal information about yourself. This includes (but isn't restricted to) the following:

• An Australian residential address (not a PO Box).
• Your driver's licence number (if applicable).
• An Australian mobile phone number.
• A unique email address (for joint accounts both applicants must have a different email address).
• Your passport number (if you have one).
• Your Tax File Number or Exemption Code for tax purposes (we can always get this from you later, but if you do not provide your TFN or Exemption Code we are required by law to deduct withholding tax at the highest marginal rate).
• A secret question and answer (we may use these to identify you when you call).

Yes, you can open a USaver in a maximum of two personal names. We'll ask for the personal details of both people on the account.

Unfortunately no - but you can always post it to us at the following address (no stamp required):

UBank Reply Paid
1466 North Sydney NSW 2059

Unfortunately, no - but you can easily open an account:

• Online at ubank.com.au
• Over the phone by calling 13 30 80 anytime
• Download a USaver application form and return this to us at the following address:
  UBank Reply Paid
  1466 North Sydney NSW 2059

In most cases your account will be set up immediately after you apply. You can then access your account by logging in at ubank.com.au with the temporary password we send you upon receiving your application.

We'll also send you a letter once your account has been set up. But you can always check in with us anytime on 13 30 80.

Not if you're an existing UBank customer and provide us with your account number.

But if you're new to us, yes. We'll do this electronically by using public domain databases, but if this is not successful, we'll need you to provide us with some documents. We'll let you know after you've applied.

If you haven't met UBank's identity checks then certain limitations apply. Most importantly you won't be able to access your funds until you meet our identification requirements. This includes your deposit and any interest you may have accrued.

Have a look at current interest rates

We calculate interest on the daily closing credit balance of your UBank USaver, up to and including the last day of the month. Interest is credited to your account on the last business day of each month (or at account closure).

The interest rate applying to your UBank USaver is a variable rate and may change from time to time.

We will advertise the changes in a major newspaper or by post or email no later than the day the interest rate change takes affect.

Single or Joint USaver accounts that have an ASP depositing $100 or more per month AND a total account balance less than $150,000.

Qualifying accounts do not start to earn the ASP Savings Bonus interest until the following calendar month after the one in which their account qualifies.

Yes! You can get the ASP bonus on each of your qualifying USaver accounts (up to a maximum of 10 per customer)

Unfortunately, no. ASP Savings Bonus interest is earned the month following the month your account qualifies. (See examples below).

USaver accounts do not get the ASP Savings Bonus interest on any portion of their balance if their account balance is above $150,000. Instead, they get the standard rate on their whole account balance. One way around this, is to open another USaver account (you can have up to 10) and ensure that each of them doesn't exceed $150K. Remember, even if you have $149,999 at the end of the month when interest is credited, this will likely break the $150K limit and you won't qualify for the Savings Bonus rate the following month.

Yes. Once the Savings Bonus rate has been applied, you'll see it in your Online Banking screen.

ASP transactions will generally appear in your USaver the following business day, but it can take an extra 1 or 2 business days for it to show up in your external account. This is because of the way USaver pulls funds from your external account (rather than the usual way of pushing funds from it).

When you initiate an ASP payment, the money will appear as "uncleared funds" both in your USaver Online Banking screen and customer balance chart. The funds will take 4 business days to clear and only then will you be able to transact with them.

There are two reasons:

• This is the time it takes to guarantee that the transaction can be honoured by the external account provider.
• It also protects you, as it provides 3 days notice to the owner of the external account that a withdrawal has been requested by the USaver account - allowing enough time for it to be stopped if it's a fraudulent request.

No. Some financial institutions may not allow direct debits on a range of accounts. Before setting up a direct debit, it's worth checking with your financial institution.

Example 1
Matt has a single USaver with a balance of $140,000. He sets up a monthly ASP on 10th August 2009 for $200, to start on 29 August 2009. Matt QUALIFIES for the ASP bonus in August as his qualifying ASP payment arrived in August. But his account doesn't start to earn ASP bonus interest until 1st September 2009.

Example 2
Matt's brother Chris has a single USaver, with a balance of $140,000. He also sets up an ASP on 10th August 2009 for $200, but this time to start on 1st September 2009. Chris's account won't qualify for the bonus until September. So he won't start to earn ASP bonus interest until 1st October 2009.

Example 3
Matt's sister, Sarah also has a single USaver with $149,999 in it (they really like saving, this family). She sets up an ASP on 10th August 2009 for $200, to go in on 11th August 2009. But Sarah doesn't qualify for the ASP bonus interest because the standard interest paid to her account at 31 August 2009 tips her account over the $150,000 ASP Savings Bonus limit. Remember, if your account goes over $150,000 at any time, no portion is eligible for the ASP bonus..

There is no minimum balance. The maximum amount is $1 million per customer, this includes joint accounts. That means if you have 10 USaver accounts they all need to have a combined balance of $1 million or under.

One off or ad hoc transfers.

• Funds Transfer - simply transfer funds from any Australian bank account. Your USaver BSB number is 082-991. You'll also need your account number to make the funds transfer, you can find this by logging into UBank. Both your BSB and account number are shown within the USaver Account summary.
  
  If you do not have a record of your account number, don't worry, just give us a call on 13 30 80 and we'll provide this to you.
• Cheque - simply write us a cheque made payable to UBank or the account holder(s). You'll need to write your full name, address, date of birth and your account number on the reverse side of the cheque. Please note we can't accept a third party cheque
  
  Send us your cheque to (no stamp required):
  
  UBank Reply Paid
  1466 North Sydney NSW 2059
• Linked account transfer - this is the most convenient method if you plan to make multiple deposits from one of your own accounts. To set up and verify a linked account, simply log into UBank and select 'Manage my accounts'. From there, select 'Linked Accounts' from the 'Accounts' menu, and follow the prompts. Once you've provided your linked account details we'll send a micro-payment of $0.01 to your linked account with your Authentication Number in the transaction description. This will normally appear in your linked account within one business day.
  
  Once you have the Authentication Number, please return to UBank, log in and select 'Linked Accounts' from the 'Accounts' menu. Then click on the 'Pending' link, enter the Authentication Number and hit 'enter'. Now, every time you'd like to make a linked account transfer, return to UBank and make your transfer. There's no limit to the number of linked accounts you can set up, and no limit to the amount you can transfer to a verified linked account.

Regular Payments.

• Automatic Savings Plan (Direct Debit) - an Automatic Savings Plan (ASP) regularly draws a fixed amount of money from your linked bank account at a set time (every week or month etc - it's your choice). To set up an ASP, you'll first need to link your USaver account with the account you'd like to draw funds from. See Linked account transfer section for instructions on how to set up a linked account.
  
  The best part is, if you set up an ASP for $100 dollars (or more) each month we'll give you a Savings Bonus of 0.10%p.a. on top of the current rate for balances up to $150,000. And your ASP Savings Bonus is paid after the first month in which your money is deposited. With an extra impressive rate like that, you'll see your money grow faster, and reach your goal even sooner.
• Credit your Salary - choose to have your salary paid into your USaver and you'll attract higher interest than you would in an everyday transaction account. It means that all the time you're working hard, you know your salary is too! All you need to do is give your employer your USaver account name, BSB and account number, and they'll set this up for you.

There are several ways that you can pay money out of your account, including:

• Linked account transfer
• Pay anyone
• Transfer funds between your USaver accounts
• Pay another USaver account.

If there are accounts you make regular payments to, you should add them as a 'Payee' within a 'Payee Category'. To add a payee you must select or add the payee to a 'Payee category'. To add a Payee category select 'My Payees' from the 'Payments' menu.

Your payees are separated into categories, so you must first choose a name for the category. Here are a few examples to get you started: 'Friends and Family',' Colleagues' and 'My Accounts'. But you can call them whatever you like.

You'll then be able to 'Add Payee Details'. And then keep adding 'Payees' to the category as you see fit. By adding Payees you'll be able to transfer funds to accounts you frequently transfer money to. This way you won't have to enter in the payee details every time.

Ad hoc transfers.

• Linked Account Transfer
  You can transfer money to a verified linked account. The great thing about setting up a linked account and having it verified is if you that you can transfer more than 20K at a time. However, for security reasons, we can only allow you to transfer more than 20K if you call us on 13 30 80.
• Pay anyone
  Simply transfer funds to any Australian financial institution using the 'Pay anyone' facility. All you need is the account name, BSB and account number of the account you wish to transfer money to or make payment to. To transfer money to another a payment to another person(s) (or business) account simply follow the following steps;
  • Step 1 - Log in at ubank.com.au and select 'Manage my accounts'
  • Step 2 - Choose 'Pay anyone' from the 'Payments' menu
  • Step 3 - 'Select Payee Category' or 'Make a New Payment'
    • If you 'Select Payee Category' just make sure you've set up your payee details first. Once you choose the payee category they the payee it should pre-populate most of the payment details for you so you don't have to re-enter them in every time
    • If you select 'Make a New Payment' simply choose the UBank account you would like to transfer funds from and then enter in all the required details.
  • You can choose to make the payment now by selecting 'Pay Now', 'Pay Later' - just select the payment date, the date just has to be a date in the future.
  Transfers to accounts with other Australian financial institutions are generally processed overnight as long as you provide the Security Code sent by SMS.

Regular Payments.

To make a regular payment follow steps 1 - 3 above then chose 'Regular Payment'. You can select how often you'd like the payment to be made - weekly, monthly or fortnightly. Then simply choose the dates you'd like the payments to begin and end.

The default 'Pay Anyone' access daily limit is $20,000 per customer per business day. You can increase this limit by setting up a linked account and having the account verified or by calling us on 13 30 80. You can set up a linked account by logging in at ubank.com.au and then selecting 'Manage my accounts' then 'Linked accounts' from the 'Accounts' menu, and follow the prompts.

• Transferring funds between your own USaver accounts
  Log in at ubank.com.au and choose 'Manage My Accounts' then 'Between My Accounts' from the payments menu. There are no transfer limits to the amount you can transfer between your accounts.
• Pay another USaver account
  Transferring funds to USaver accounts that aren't your own, for example a USaver account owned by a family member. Generally the transfer occurs immediately - as long as you provide the Security Code that we send you by SMS. Log in at ubank.com.au and choose 'Manage My Accounts' then 'Pay UBank Account'.

Yes, when you open your account we'll give you a UBank USaver BSB and account number. You can then transfer funds from any Australian bank to your USaver account. Please check with your bank as restrictions may apply.

Yes we can - you can take the hard work out of saving by setting up an Automatic Savings Plan (ASP). You can set up an amount to regularly contribute (every week or month etc - it's your choice). Then you can just sit back and watch your money grow, automatically.

To set up an ASP, you'll first need to link your USaver account with the account you'd like to draw funds from. To do this log in at ubank.com.au and select 'Manage my account', from there, select 'Linked accounts' from the 'Accounts' menu, and follow the prompts.

View UBank's Direct Debit Agreement here

Sorry, not right now. Here's how you can deposit money into your USaver.

• Funds Transfer - take advantage of UBank Turbo by sending your deposit via Electronic Funds Transfer (EFT). Simply transfer funds from any Australian bank account using the UBank USaver BSB number (082991) and your account number.
• Set up an Automatic Savings Plan (Direct Debit) - an Automatic Savings Plan (ASP) regularly draws a fixed amount of money from your linked bank account at a set time (every week or month etc - it's your choice).
• To set up an ASP, you'll first need to link your USaver account with the account you'd like to draw funds from. To do this log in at ubank.com.au and select 'Manage my account', from the 'Accounts' menu, and follow the prompts.
• The best part is, if you set up an ASP for $100 dollars (or more) each month we'll give you a big Saving Bonus of 0.10%p.a. on top of the current rate for balances up to $150,000. With an extra impressive rate like that, you'll see your money grow faster, and reach your goal even sooner.
• Credit your Salary - choose to have your salary paid into your USaver and you'll attract higher interest than you would in an everyday transaction account, to manage your money. It means that all the time you're working hard, you know your salary is too! All you need to do is give your employer your USaver account name, BSB and account number, and they'll set this up for you.
• Cheque - simply write us a cheque made payable to UBank or the account holder(s). You'll need to write your full name, address, date of birth and your account number on the reverse side of the cheque. Please note we can't accept a third party cheque for term deposits.
  
  Send us your cheque to (no stamp required):
  
  UBank Reply Paid
  1466 North Sydney NSW 2059

Yes, you can send it here please (no stamp required):

UBank Reply Paid
1466 North Sydney NSW 2059

Please be sure to:

• Make the cheque payable to UBank or the account holder(s).
• Write your name and account number on the back of the cheque. We can't accept a third party cheque so your cheque needs to be in the same name as the account holder(s).

Send it to us at the following address (no stamp required):

UBank Reply Paid
1466 North Sydney NSW 2059

Please be sure to:

• Make the cheque payable to UBank or the account holder(s).
• Write your name and account number on the back of the cheque. We can't accept a third party cheque so your cheque needs to be in the same name as the account holder(s).

Sorry, not right now. Here's how you can deposit money into your USaver.

• Funds Transfer - take advantage of UBank Turbo by sending your deposit via Electronic Funds Transfer (EFT). Simply transfer funds from any Australian bank account using the UBank USaver BSB number (082991) and your account number.
• Set up an Automatic Savings Plan (Direct Debit) - an Automatic Savings Plan (ASP) regularly draws a fixed amount of money from your linked bank account at a set time (every week or month etc - it's your choice).
• To set up an ASP, you'll first need to link your USaver account with the account you'd like to draw funds from. To do this log in at ubank.com.au and select 'Manage my account', from the 'Accounts' menu, and follow the prompts.
• The best part is, if you set up an ASP for $100 dollars (or more) each month we'll give you a big Saving Bonus of 0.10%p.a. on top of the current rate for balances up to $150,000. With an extra impressive rate like that, you'll see your money grow faster, and reach your goal even sooner.
• Credit your Salary - choose to have your salary paid into your USaver and you'll attract higher interest than you would in an everyday transaction account, to manage your money. It means that all the time you're working hard, you know your salary is too! All you need to do is give your employer your USaver account name, BSB and account number, and they'll set this up for you.
• Cheque - simply write us a cheque made payable to UBank or the account holder(s). You'll need to write your full name, address, date of birth and your account number on the reverse side of the cheque. Please note we can't accept a third party cheque for term deposits.
  
  Send us your cheque to (no stamp required):
  
  UBank Reply Paid
  1466 North Sydney NSW 2059

When considering a new account (savings account, term deposit or other investment), it is important to consider how many days it will take to set up the account and to transfer your money. If your money has to sit in a non interest bearing transaction account for, say 5 days to wait for paperwork to clear, then this can have a dramatic effect on the effective interest rate you are getting.

When you're keen to see your money grow, the last thing you want is to wait around for paperwork to be processed. That's why we created UBank Turbo - so you can start earning interest on your money even sooner.

You can transfer your money immediately after application and start earning interest sooner.

Most banks will allow you to increase the daily withdrawal limit. Just give them a call to arrange - most will do so on the spot. If you still experience difficulties give us a call anytime on 13 30 80 and speak to a real person.

Of course, you could always send us a personal or bank cheque.

Sorry, not right now. Here's how you can deposit money into your USaver.

• Funds Transfer - take advantage of UBank Turbo by sending your deposit via Electronic Funds Transfer (EFT). Simply transfer funds from any Australian bank account using the UBank USaver BSB number (082991) and your account number.
• Set up an Automatic Savings Plan (Direct Debit) - an Automatic Savings Plan (ASP) regularly draws a fixed amount of money from your linked bank account at a set time (every week or month etc - it's your choice).
• To set up an ASP, you'll first need to link your USaver account with the account you'd like to draw funds from. To do this log in at ubank.com.au and select 'Manage my account', from the 'Accounts' menu, and follow the prompts.
• The best part is, if you set up an ASP for $100 dollars (or more) each month we'll give you a big Saving Bonus of 0.10%p.a. on top of the current rate for balances up to $150,000. With an extra impressive rate like that, you'll see your money grow faster, and reach your goal even sooner.
• Credit your Salary - choose to have your salary paid into your USaver and you'll attract higher interest than you would in an everyday transaction account, to manage your money. It means that all the time you're working hard, you know your salary is too! All you need to do is give your employer your USaver account name, BSB and account number, and they'll set this up for you.
• Cheque - simply write us a cheque made payable to UBank or the account holder(s). You'll need to write your full name, address, date of birth and your account number on the reverse side of the cheque. Please note we can't accept a third party cheque for term deposits.
  
  Send us your cheque to (no stamp required):
  
  UBank Reply Paid
  1466 North Sydney NSW 2059

You cannot deposit money into your USaver in cash, travellers cheques, international drafts, RTGS or by BPAY®. For current allowable deposit methods please refer to How do I deposit money into my USaver?

Yes, you can take the hard work out of saving by setting up an Automatic Savings Plan (ASP). You can set up an amount to regularly contribute (every week or month etc - it's your choice). Then you can just sit back and watch your money grow, automatically.

To set up an ASP, you'll first need to link your USaver account with the account you'd like to draw funds from. To do this log in at ubank.com.au and select 'Manage my account', from there, select 'Linked accounts' from the 'Accounts' menu, and follow the prompts.

To verify your linked account you'll need to log in at ubank.com.au and enter the Authentication Number. You'll find an Authentication Number (located within the asterisk) in your linked bank account transaction description field. And below, is a step-by-step explanation of how to add your linked account and complete your Automatic Savings Plan set up.

Next steps.
You've been sent a new micro-payment ($0.01) to your linked bank account. All you have to do now is:

• Retrieve the Authentication Number. This number is appended to the micro-payment we sent to your linked bank account.
• Log in at ubank.com.au
• Once you're logged in, select 'Linked Accounts' from the 'Accounts' menu. Then click on the 'Pending' link, enter the Authentication Number and hit 'enter'.
• Now all you need to do is click on the 'Add Savings Plan' button and set up your Automatic Savings Plan.

You can also view a demo video

Yes, choose to have your salary paid into your USaver and you'll attract higher interest than you would in an everyday transaction account, to manage your money. It means that all the time you're working hard, you know your salary is too! All you need to do is give your employer your USaver account name, BSB and account number, and they'll set this up for you.

Yes, you can turn your one USaver account into several - one for each of your savings goals. It's easy, and you don't have to go through the application process again. Simply log into 'MyMoney' at ubank.com.au and select 'Open USaver Account' from the 'Account' menu.

You can also view a demo video

While you can link your UBank USaver to PayPal, unfortunately you're not able to make payments to it from your USaver.

While you can link your UBank USaver to PayPal, unfortunately you're not able to make payments to it from your USaver.

A daily transfer limit per customer per business day applies to selected transactions performed in UBank Online Banking and Telephone Banking. These are:

The 'daily transfer limit' does not apply to:

• Funds Transfers between your accounts at UBank.
• Funds Transfers, performed by UBank Telephone Banking, to your nominated linked bank account held with another Australian financial institution (including NAB).

Provided you are transferring cleared funds:

• Transferring funds between your own USaver accounts generally occurs immediately.
• Transferring funds to USaver accounts not within your own profile (3rd party accounts) generally occurs immediately provided that you provide the Security Code that we send you by SMS.
• Transfers to accounts with other Australian financial institutions are generally processed overnight as long as you provide the Security Code that we send you by SMS. The transfer must generally be completed before the cut-off time of 4:00 pm Australian Eastern Standard Time. Funds should generally be available at the other institution the next business day (depending on the institution).

Should funds be sent after 4:00 pm Australian Eastern Standard Time the availability of these funds will be available at the other institution generally within the next 2 business days (depending on the institution).

Yes. You are only able to cancel future dated transfer, up until the day before the transfer is due (i.e. transfers not due for payment today).

Once a payment or transfer is made we are unable to stop that transaction.

Yes. You can modify funds transfers that have a status of periodic or future dated up until the day before the transfer is due (i.e. transfers not due for payment today).

Once a payment or transfer is made we are unable to stop that transaction.

Yes. You can create a regular transfer at anytime via UBank Online Banking.

Sorry, not right now. You can only transfer money to an Australian bank account.

UBank Online is available 24 hours a day, seven days a week.

You will need the following information to make a payment to another person(s) (or business) account at UBank or another financial institution in Australia:

• BSB number (this identifies the bank and outlet of the person you wish to pay and must be exactly six digits in length),
• account number of the person you wish to pay (this must be numeric), and
• account name of the person you wish to pay.

Yes. UBank Online Banking allows 'Pay Anyone' access which enables you to transfer funds to any other UBank account(s) and any other Australian financial institution.

The default 'Pay Anyone' access daily limit is $20,000 per customer per business day. You can increase this limit by setting up a linked account and having the account verified or by calling us on 13 30 80.

You can set up a linked account by logging in at ubank.com.au and then select "Manage my accounts" from there, select 'Linked accounts' from the 'Accounts' menu, and follow the prompts.

Setting up a linked account can take up to 48 hours. Once your linked account has been set up, please call us on 13 30 80 to transfer funds.

The default 'Pay Anyone' daily limit is $20,000 per customer per business day. You can increase this limit. You can increase this limit by setting up a linked account and having the account verified or by calling us on 13 30 80.

You can set up a linked account by logging in at ubank.com.au and then select "Manage my account" from there, select 'Linked accounts' from the 'Accounts' menu, and follow the prompts. Setting up a linked account can take up to 48 hours. Once your linked account has been set up, please call us on 13 30 80 to transfer funds.

As far as UBank USaver accounts go, there are no fees or charges payable.

We will send you statements at least every six months - in January and July.

Statements will be sent by post. You can also view all your account transactions by logging into "MyMoney" at ubank.com.au

We'll send you a welcome email to your nominated email address within a day after you've applied.

Don't worry, if you do need a paper copy of welcome letter and the USaver Terms and Conditions, simply call us on 13 30 80 anytime and we'll be happy to send this to you in the post.

Don't worry, just give us a call and we'll ensure that your nominated email address is correct and re-send you your welcome email.

If you do need a paper copy of welcome letter and the USaver Terms and Conditions, simply call us on 13 30 80 anytime and we'll be happy to send this to you in the post.

You can view all your new USaver account details by logging in to online banking at ubank.com.au. Your account number is shown in the USaver Account summary.

The USaver Terms and Conditions are available here. Or feel free to call us on 13 30 80 anytime and we'll happily send you a copy in the post.

Yes, we'll send you your USaver statement at least every six months from the date you opened your account.

We use a stock called Precision. It's Australian Made, PEFC (Programme for the Endorsement of Forest Certification) Certified, and ISO 14001 Environmental Accredited - which means the suppliers use renewable energy to produce the stock. Our envelopes and flyers are also produced from this stock.

It means the paper is sourced from suppliers who practise sustainable management of forests, in line with strict international standards.

Yes, it's 100% recyclable.

If you have a login email and password you can view your account balance online by selecting 'Manage my account' once you've logged in.

Otherwise call us anytime on 13 30 80 for details of your account.

Yes. You can view the credit interest details for your savings accounts by accessing the 'Account details' screen within 'Account info'. This can assist you when it comes to completing your tax return for the previous financial year.

All parties on a joint account can access information about the USaver.

Fill out a Detail Change form in 'MyMoney'. See the form for the documentation we require from you as proof of your change of name.

Call anytime on +61 2 8756 0855

As a UBank customer, you'll be able to access Goal Tracker - a savings tool to help you set a savings goal, and stick to it with constantly updated savings graphs, and reminders to help you stay on track to reach your goal.

You just need to put in the amount you need to save, a timeframe, or the exact amount of your regular contributions.

If you are a UBank customer, simply log into 'MyMoney' at ubank.com.au and select "Goal Tracker".

From there, simply follow the prompts to set up and track your savings goal.

You can also view a demo video