Updated September 29, 2026 · VaultCue Editorial Team
Up vs ZA Bank
Up
Higher score in this comparison
ZA Bank
What sets them apart
| Compare | UpReviewSee alternativesSee alternatives | ZA BankReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | A$0 | HK$0 |
| Free ATM withdrawals | A$0 | HK$0 |
| Transfer fee | Free for domestic Pay Anyone transfers, BPAY and direct debits; international transfers sent via Wise | FPS instant transfers free; SWIFT to 140+ countries and regions with zero ZA Bank fee |
| Currency conversion fee | 0% | Not confirmed |
| Currencies | Not confirmed | 11 |
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Key differences
- Up scores higher overall: 9.4 vs 8.7.
- Audience: only ZA Bank offers Business.
- Pricing model: only Up offers Low FX.
- Features: only Up offers Joint account.
- Features: only ZA Bank offers Digital only.
Our verdict on each
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.
ZA Bank
ZA Bank is an app-only easy-access account for travelers and businesses that need to hold and move money in several currencies. It suits users who put access first and interest second, since a headline rate of 0.01% sits well below the savings account median of 3%.
Score breakdown
| Area | Up | ZA Bank |
|---|---|---|
| Cost | 9.4HigherCash withdrawals are free within the allowance of AUD 0 and the minimum deposit is AUD 0, so running costs stay low. | 9.3Monthly fee of HKD 0 against a site median of €0, with a minimum deposit of HKD 0. |
| Offer | 9.2HigherBuilt for travelers, with help on chat, phone and email and an Australian Credit Licence, 237879. | 8.9An easy access account on a variable rate, holding 11 currencies with no term attached. |
| Trust | Not confirmed | 8.1 |
How they place
| Ranking | Up | ZA Bank |
|---|---|---|
| Savings accounts | 110 of 1420 | 542 of 1420 |
Every fact side by side
| Fact | Up | ZA Bank |
|---|---|---|
| Audience | Travelers | Travelers, BusinessCovers more |
| Pricing model | No monthly fee, Low FXCovers more | No monthly fee |
| Features | Free ATM, Joint account | Free ATM, Digital only |
| Legal entity | Bendigo and Adelaide Bank Limited | ZA Bank Limited |
| Headquarters | Australia | Hong Kong |
| Founded | Not confirmed | 2020 |
| Support channels | Chat, Phone, Email, Help centre | Email, Phone, Chat, Help centre |
Savings
| Fact | Up | ZA Bank |
|---|---|---|
| Headline rate | Not confirmed | 0.01% |
| Rate type | Variable | Variable |
| Minimum deposit | A$0 | HK$0 |
| Access terms | On-demand easy access via the Up app; interest activates after 5 eligible card purchases in a month, no deposit required | Deposit and withdraw money as you wish, 24 x 7 in the ZA Bank app |
| Account kind | Easy access | Easy access |
Where each stands against the rest
| Fact | Up | ZA Bank | Median |
|---|---|---|---|
| Currency conversion fee | 0%below the median | Not confirmed | 0.5% |
| Currencies | Not confirmed | 11above the median | 5 |
Median across 536 listed accounts.
Pros and cons
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.
ZA Bank
Pros
- Instant FPS transfers cost nothing, and SWIFT transfers carry no ZA Bank fee.
- A minimum deposit of HKD 0, so a balance can start small and grow.
- Support runs on email, phone and chat, so help is not limited to the app.
Cons
- The headline rate of 0.01% ranks 447 of 473, so this is a place to keep money rather than grow it.
- A variable rate on an easy access account gives no term in which to lock a better rate for longer.
- Digital-only handling under free atm and digital only means no branch or counter service, so cash and paperwork happen in the app.
Who each suits
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.
ZA Bank
Who it suits
- Travelers and businesses, the audiences ZA Bank lists, who need easy-access money in 11 currencies.
- Holders who want a minimum deposit of HKD 0 rather than a barrier to opening.
- Users who need help beyond the app, since support runs on email, phone and chat.
Who should look elsewhere
- Readers shopping on listed rates, where Plazo ES shows 24.19% and AXI Card Tarjeta y Credito shows 21.59%.
- Wallet-first readers, since PayPal Colombia at 3.3% fits balances held in a wallet rather than an easy-access bank balance.
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
ZA Bank
Current offer
Bonus
High-Rate Pot savings rate: Up to 5% p.a. total savings rate (up to 4.99% reward rate plus 0.01% HKD basic interest rate)
Campaign period; reward rate valid from the day the challenge is completed to the last day of that month; eligible deposit limit varies by user tier and is shown on the High-Rate Pot page; T&C apply
Source, checked September 26, 2026
Bonus
Chill Pot promotional rate: 0.5% p.a.
Applies to HKD 1,000,000 or below balance in Chill Pot under ZA Perks Lv1 User Level; balance above that at the basic interest rate; T&C apply
Source, checked September 26, 2026
Bonus
Rate-up Tuesday coupons: Rate-up Coupons up to 9% p.a.; unlock bonus rate up to 18% p.a.
Claim in ZA Bank App homepage > Deposit > Rate-up Tuesday on or before 31 October 2026; terms and conditions apply
Source, checked September 26, 2026
Bonus
Foreign Exchange Time Deposit promotional rates: 20% p.a. 7-day CNY time deposit rate; 17% p.a. 7-day USD time deposit rate
Placed via ZA Bank App homepage > Deposit > FX Time Deposit; applicable rate, currency and period as displayed in the app; FX involves risks; T&C apply
Source, checked September 26, 2026
Country by country
| Country | Up | ZA Bank |
|---|---|---|
| Australia | Yes | No |
| Hong Kong | No | 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.
ZA Bank
How much does a ZA Bank account cost to run?+
ZA Bank charges a monthly fee of HKD 0 and a minimum deposit of HKD 0 to open, so holding a balance costs nothing. Its pricing sits at the site median monthly fee of €0, and the account is listed under no monthly fee.
What rate do I get on a ZA Bank deposit?+
The deposit pays a headline rate of 0.01% and the rate type is variable, so the return moves rather than being locked in. The account kind is easy access, which suits people who need to take money out whenever they like more than people shopping for a term deal.
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ZA Bank