UBank USaver - online savings account with high interest

Yeah i can take 20 minutes to transfer if im lucky. i pretty much just park money there, and transfer to an account i use for the ATM.

It is a bit of a giggle when you see ads for term deposits, and they're the same or lower rates as this account. I guess theyre counting on current customers signing up or counting on the people who don't shop around.

 

Does anyone know if you can only open these accounts under your own name and are not allowed using a family trust? Or are they accepting of trusts?

A little while ago I was told one of the high interest NAB savings accounts wouldn't let me open the account in a family trust name. Apparantly the system won't even let them. Term deposit would though.

So I was wondering if these savings accounts had the same restrictions?

Thanks
Sharon

 

I really cant remember, but it does seem familiar that it has to be under your own name.

Also I don't know how it could be done online seeing it goes through an ID check. You may have to wade through one of those thrilling pdf's of terms and conditions or email them.

 

Thanks for your reply FP.

Sharon

 

So far, Ubank has a very competitive rate for a savings account. I have been pleased with their level of service and have been a client for over a year. However, I wish they would offer a savings bonus rate for those who have invested over 200k perhaps a quarter of a percentage point.

And yes, the site's server leaves a lot to be desired ...