Updated October 14, 2026 · VaultCue Editorial Team
ubank vs Up
ubank
Up
Higher score in this comparison
What sets them apart
| Compare | ubankReviewSee alternativesSee alternatives | UpReviewSee alternativesSee alternatives |
|---|---|---|
| Rate type | Not confirmed | Variable |
| Minimum deposit | Not confirmed | A$0 |
| Access terms | Not confirmed | On-demand easy access via the Up app; interest activates after 5 eligible card purchases in a month, no deposit required |
| Monthly fee | Not confirmed | A$0 |
Same on both: Account kind (Easy access).
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Our verdict on each
ubank
Ubank lists goal-oriented savings, Autosave, savings accounts and Shared Save accounts.
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 | ubank | Up |
|---|---|---|
| Cost | Not confirmed | 9.4Cash withdrawals are free within the allowance of AUD 0 and the minimum deposit is AUD 0, so running costs stay low. |
| Offer | Not confirmed | 9.2Built for travelers, with help on chat, phone and email and an Australian Credit Licence, 237879. |
How they place
| Ranking | ubank | Up |
|---|---|---|
| Current and checking accounts | 791 of 885 | 44 of 885 |
| Savings accounts | 1317 of 1420 | 110 of 1420 |
Every fact side by side
| Fact | ubank | Up |
|---|---|---|
| Pricing model | Not confirmed | No monthly fee, Low FX |
| Legal entity | National Australia Bank | Bendigo and Adelaide Bank Limited |
| Headquarters | Australia | Australia |
| Founded | 2008 | Not confirmed |
| Support channels | Not confirmed | Chat, Phone, Email, Help centre |
Everyday accounts
| Fact | ubank | Up |
|---|---|---|
| Currency conversion fee | Not confirmed | 0% |
| Audience | Not confirmed | Travelers |
| Features | Not confirmed | Free ATM, Joint account |
| Free ATM withdrawals | Not confirmed | A$0 |
| Transfer fee | Not confirmed | Free for domestic Pay Anyone transfers, BPAY and direct debits; international transfers sent via Wise |
Where each stands against the rest
| Fact | ubank | Up | Median |
|---|---|---|---|
| Minimum deposit | Not confirmed | A$0at the median | A$0 |
| Monthly fee | Not confirmed | A$0at the median | A$0 |
Median across 9 listed accounts.
Pros and cons
ubank
Pros
- Ubank lists goal-oriented savings, Autosave, savings accounts and Shared Save accounts.
- The captured overview does not provide rates.
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
ubank
Who it suits
- Australia Ubank customers choosing goal-based, automatic or shared savings tools
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
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 | ubank | Up |
|---|---|---|
| Australia | Yes | Yes |
Questions about each
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.
How does interest work on the balance?+
The rate is variable rather than fixed, and interest activates after a set number of eligible card purchases in a month. There is no minimum deposit needed to start earning: AUD 0. The account kind is easy access.
Who is the account built for?+
The listed audience is travelers, and the account is Australian, AU. Up also fits people who want a joint account and free cash machine withdrawals, both listed under free atm and joint account, and who prefer no monthly charge.