Came to Ubank for the savings rate, and like a lot of people, that was the whole point. But after needing to move some money out last week, I discovered something that genuinely shocked me.
If your balance doesn't grow by a set amount in a month, you don't just lose the bonus interest. You lose everything. Zero interest. That's not a bonus structure, that's more like a trap.
I also had my app access cut off without warning. Called in, was told a callback would be logged and I might hear back tomorrow. Not great.
I get that banks change their terms, but there's a difference between a tiered bonus and paying customers nothing at all. There should be a base rate you always earn, with bonus interest on top for meeting conditions. Giving someone zero on a significant balance because they had to transact once just isn't fair, and it's not something I'd have expected from a bank I trusted with this much money.
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