Updated September 28, 2026 · VaultCue Editorial Team
Salt Bank vs Up
Salt Bank
Higher score in this comparison
Up
Salt Bank vs Up: the differences
| Compare | Salt BankReviewSee alternativesSee alternatives | UpReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | RON 0 | A$0 |
| Free ATM withdrawals | RON 900 | A$0 |
| Transfer fee | 0 commission for incoming and outgoing payments in Romania | Free for domestic Pay Anyone transfers, BPAY and direct debits; international transfers sent via Wise |
| Deposit protection | EU DGS up to EUR 100,000 | Not confirmed |
| Currencies | 19 | Not confirmed |
| Local account details | IBAN | Not confirmed |
Same on both: Currency conversion fee (0%).
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Key differences
- Salt Bank scores higher overall: 9.5 vs 9.4.
- Salt Bank is available in 9 more countries.
- Audience: only Salt Bank offers Expats.
- Features: only Salt Bank offers Digital only.
- Features: only Up offers Joint account.
Our verdict on each
Salt Bank
Salt Bank is built for expats and travellers who bank across Romania and further afield: 19 currencies sit on the same account, local receiving details are iban, and Banca Nationala a Romaniei supervises the bank, with a savings option alongside that pays out at maturity. It scores 7.7 in the comparison.
Up
Up suits anyone who wants an everyday Australian account that charges no monthly fee and no currency conversion fee. The monthly fee is AUD 0, the currency conversion fee is 0%, and the account is provided by Bendigo and Adelaide Bank Limited, with a variable rate on balances.
Score breakdown
| Area | Salt Bank | Up |
|---|---|---|
| Cost | 9.4Monthly charge of RON 0, conversion of 0% and 0 commission for incoming and outgoing payments in Romania in Romania. | 9.4Cash withdrawals are free within the allowance of AUD 0 and the minimum deposit is AUD 0, so running costs stay low. |
| Offer | 9.5HigherA fixed deposit at 5.3% to 5.9% over 3 to 12, under EU DGS up to EUR 100,000. | 9.2Built for travelers, with help on chat, phone and email and an Australian Credit Licence, 237879. |
How they place
| Ranking | Salt Bank | Up |
|---|---|---|
| Savings accounts | 73 of 1420 | 110 of 1420 |
Every fact side by side
| Fact | Salt Bank | Up |
|---|---|---|
| Audience | Expats, TravelersCovers more | Travelers |
| Pricing model | No monthly fee, Low FX | No monthly fee, Low FX |
| Features | Free ATM, Digital only | Free ATM, Joint account |
| Legal entity | Salt Bank S.A. | Bendigo and Adelaide Bank Limited |
| Headquarters | Romania | Australia |
| Support channels | Email, Chat, Phone, Help centre | Chat, Phone, Email, Help centre |
Savings
| Fact | Salt Bank | Up |
|---|---|---|
| Headline rate | 5.3% to 5.9% | Not confirmed |
| Rate type | Fixed | Variable |
| Term | 3 to 12 months | Not confirmed |
| Minimum deposit | RON 500 | A$0 |
| Access terms | 3, 6 or 12 month terms in RON, EUR or USD; interest paid at maturity to the current account; deposits guaranteed up to EUR 100,000 per depositor by FGDB | On-demand easy access via the Up app; interest activates after 5 eligible card purchases in a month, no deposit required |
| Account kind | Fixed | Easy access |
Where each stands against the rest
| Fact | Salt Bank | Up | Median |
|---|---|---|---|
| Currency conversion fee | 0%below the median | 0%below the median | 0.5% |
| Currencies | 19highest quarter | Not confirmed | 5 |
Median across 536 listed accounts.
Pros and cons
Salt Bank
Pros
- Help is available by email, chat and phone.
- Cash withdrawals come with a free allowance of RON 900.
- Term deposits run in RON, EUR or USD and the interest lands in the current account at maturity.
Cons
- The service is digital only, per free atm and digital only, so there is no branch counter for cash or paperwork.
- Local receiving details are iban only, which limits how money can be received from other markets.
- The fixed deposit needs a minimum of RON 500 and ties the money up for the whole term.
Up
Pros
- No monthly charge on the everyday account: AUD 0.
- No currency conversion fee: 0%.
- Joint accounts and free cash machine withdrawals are both on the free atm and joint account list.
Cons
- Interest activates only after a set number of eligible card purchases in a month, so a balance must see card spending first.
- The account kind is easy access with a variable rate, so a fixed-rate term is not part of the deal.
Who each suits
Salt Bank
Who it suits
- Expats and travellers named under expats and travelers, who want local and overseas money in the same account.
- Anyone paid in and out in Romania, since 0 commission for incoming and outgoing payments in Romania there.
- Savers who can wait for interest at maturity and collect it in the current account.
Who should look elsewhere
- Not a fee-based decision: Skrill charges €0 a month and eToro £0, so price alone does not separate them.
- Not for people who need UK sort code or US routing numbers for incoming pay, since local details are iban only, the gap to weigh against PayPal Colombia.
Up
Who it suits
- People in Australia who want a current account with AUD 0 a month and 0% on currency conversion.
- The travellers Up is aimed at, since its listed audience is travelers.
- Pairs who want to share one account, as a joint account appears under free atm and joint account.
Who should look elsewhere
- Readers who want a euro account rather than an Australian one, since €0 a month at XTB and €0 at AXI Card Tarjeta y Credito sit outside Up's Australian base.
- Anyone focused mainly on moving money rather than holding a bank balance, where Skrill charges €0 a month.
Current offers
Salt Bank
Current offer
First period offer
Prima luna este gratuit (first month free): First month of any Salt plan free
Applies to the Salt, Salt Everyday and Salt Premium plans on opening
Source, checked September 26, 2026
Bonus
13-lea salariu (13th salary campaign): An extra salary when you bring your salary to Salt
Source, checked September 26, 2026
Up
Current offer
Bonus
Sign up & SCORE $10 with code UPYEAH10: $10 AUD
Code must be used at sign-up via the Up app; offer only applies to individuals opening a new Up Everyday Account
Source, checked September 26, 2026
Country by country
| Country | Salt Bank | Up |
|---|---|---|
| Australia | No | Yes |
| Austria | Yes | No |
| Belgium | Yes | No |
| France | Yes | No |
| Germany | Yes | No |
| Ireland | Yes | No |
| Italy | Yes | No |
| Netherlands | Yes | No |
8 of 11 countries where either is available.
Questions about each
Salt Bank
What does a Salt Bank account cost?+
The monthly fee is RON 0 and the currency conversion fee is 0%, so there is no monthly or conversion charge to budget for. Payments in and out in Romania run at 0 commission for incoming and outgoing payments in Romania, and cash withdrawals include a free allowance of RON 900. The conversion fee sits at rank 1 among the brands compared.
Is my money protected at Salt Bank?+
Deposits are covered by EU DGS up to EUR 100,000, so a balance up to that limit is repaid by the scheme if the bank fails. The Romanian guarantee fund FGDB guarantees deposits per depositor as well, and the bank answers to Banca Nationala a Romaniei under licence P.J.R. 40-043.
Up
What does it cost to hold an Up account?+
Up charges a monthly fee of AUD 0 on the everyday account, and the currency conversion fee is 0%. The minimum deposit is AUD 0. Domestic Pay Anyone transfers, BPAY and direct debits are free, while international transfers are sent through Wise.
Who provides the account and what licence is behind it?+
The account comes from Bendigo and Adelaide Bank Limited, Bendigo and Adelaide Bank Limited, which is based in Australia, AU. Up also holds an Australian Credit Licence, 237879, and an Australian Financial Services Licence in Australia.
Other options to compare
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Salt Bank