We want
your input

I suggest you ...

Increase the maximum balance from $200K to still allow the bonus interest

Increase the maximum balance from $200K to still allow the bonus interest

82 votes
Sign in
Check!
(thinking…)
Reset
or sign in with
  • facebook
  • google
    Password icon
    Signed in as (Sign out)

    We’ll send you updates on this idea

    Andrew shared this idea  ·   ·  Flag idea as inappropriate…  ·  Admin →

    3 comments

    Sign in
    Check!
    (thinking…)
    Reset
    or sign in with
    • facebook
    • google
      Password icon
      Signed in as (Sign out)
      Submitting...
      • Anonymous commented  ·   ·  Flag as inappropriate

        Yes I agree this is overdue. Should be at least 250K or more. Also the restriction on joint accounts should be changed or have a higher limit. Currently if a couple has separate accounts they could each have 200k (400K total) but as a joint account you are limited to only 200K.

      • Craig commented  ·   ·  Flag as inappropriate

        I totally agree, this needs to be increased which it has been "under review" for 2 years now. It will come down to looking for another bank account which from what I can see most do up to $250,000 and moving the bulk of my money out to another account...

      • Anonymous commented  ·   ·  Flag as inappropriate

        I too find the $200k limit annoying. Every month I have to transfer money away from uBank just to maintain the bonus interest rate. Yet at the same time I have to transfer in $200 to keep the bonus rate. Why have this limit to bonus interest? Seems counter productive to me. Also its not totally clear what balance is the limit, does it still include ALL money held at UBank like SMSF accounts etc?
        This bonus interest limit is the prime reason I look for alternative savings accounts with other institutions every month.

      Feedback and Knowledge Base