Pros
- ✓
$20 Bonus with code AFWLLL7 - ✓
0% International transaction fees - ✓
5.1% Savings interest rate - ✓
No annual fees
Cons
- ✕
No physical branches - ✕
Limited cash deposit options
Looking for a modern bank that fits your lifestyle? Ubank combines smart technology with fee-free banking and a competitive interest rate. Plus, you can get a $20 welcome bonus using our exclusive invitation code.
Quick Overview
- Sign Up Bonus: $20 with our code AFWLLL7
- Interest Rate: 5.1% p.a. (with bonus conditions)
- International Fees: 0%
- Annual Fee: $0
- ATM Fees: Free (both local and international)
Get Your $20 Bonus with Ubank
Want to claim your $20 bonus? Here’s how:
- Download the Ubank app
- Enter our invitation code AFWLLL7 during signup
- Complete 5 card purchases within 30 days
- Get $20 credited to your account
It’s that simple – no minimum purchase amounts required!
What Makes Ubank Different?
Digital Banking Made Simple
Ubank (formerly known as 86 400) operates completely through their mobile app. No branches needed – everything you need is right on your phone. The name “86 400” came from the number of seconds in a day, representing their 24/7 digital banking approach.
Smart Features You’ll Actually Use
- Real-time spending insights
- Multi-bank tracking (see all your accounts in one place)
- Instant card controls (lock/unlock from the app)
- PayID for quick transfers
- Support for Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay
Impressive 5.1% p.a. Interest Rate
Earn up to 5.1% p.a. on your savings:
- 0.10% base rate
- 5% bonus rate when you deposit $200+ monthly
- Calculated daily, paid monthly
- Applies to balances up to $250,000
- No minimum balance required
Perfect for Travelers
Save money when traveling abroad:
- Zero international transaction fees
- No foreign ATM fees from Ubank
- Uses Visa’s competitive exchange rates
- No hidden markups or charges
Is Your Money Safe with Ubank?
Absolutely. Despite being digital-only, Ubank offers the same security as traditional banks:
- Protected by the Financial Claims Scheme (up to $250,000)
- Regulated by APRA and ASIC
- Backed by Cuscal (leading Australian payments provider)
- Advanced app security features
Who Should Choose Ubank?
Great For:
- Tech-savvy users who prefer mobile banking
- International travelers wanting to avoid fees
- Savers looking for high interest rates
- Anyone wanting better money insights
Maybe Not For:
- People who prefer face-to-face banking
- Those who frequently deposit cash
- Businesses needing branch services
How to Get Started
- Download: Get the Ubank app from your app store
- Sign Up: Enter our invitation code AFWLLL7
- Verify: Use your Australian ID (driver’s license, passport, or Medicare card)
- Activate: Start using your digital card immediately
- Bonus: Make 5 purchases to get your $20
Eligibility Requirements
- Australian citizen or permanent resident
- At least 16 years old
- Valid ID (Australian driver’s license, passport, or Medicare card)
Money Hack HQ’s Verdict
While not our absolute favorite neobank, Ubank offers solid value with its combination of zero fees, high interest rate, and useful digital features. The $20 sign-up bonus and 5.1% interest rate make it worth considering, especially if you’re looking to modernize your banking experience.
What We Love
✅ $20 welcome bonus
✅ High 5.1% p.a. interest rate
✅ Zero international fees
✅ Easy-to-use app
✅ Multi-bank tracking
Could Be Better
❌ No physical branches
❌ Limited cash deposit options
Get Started with Ubank & Claim Your $20 with code AFWLLL7→
Remember to use invitation code AFWLLL7 during signup to receive your bonus. Terms and conditions apply. Interest rates subject to change.
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