*Deposit at least $200 a month into your USaver Ultra transaction or USaver savings account from a non-UBank account to earn bonus rate. This offer is available on balances up to $200,000.
2.10%*
1.04%
USaver with Ultra
0.40%
0.40%
$2
$42.1
$0
Pros
Cons
Maximum rate 0.40% | Has eftpos facility |
Base rate 0.40% | Has phone facility |
Ultimate withdrawal | Has branch access |
Joint application available | Minimum age restrictions |
Is online only | Maximum age restrictions |
Minimum opening deposit $0 | Has atm access |
Minimum amount $5k | Maximum amount $99,999,999 |
Linked account required |
Atm withdrawal fee $0 | Eftpos fee $0 |
Account keeping fees $5 | Overseas eftpos fee $0 |
Internet transaction fee $0 | Over the counter deposit fee $0 |
Phone transaction fee $0 | Over the counter withdrawal fee $0 |
It’s not usually possible to set up a direct debit from your savings account to cover ongoing expenses or bills, as savings accounts are structured around growing your wealth by earning interest on regular deposits, and discouraging withdrawals.
Some transaction accounts allow you to set up direct debits and also earn interest, though you may not enjoy as much flexibility as a dedicated transaction account, or get as high an interest rate as a dedicated savings account.
Yes. You can make one off payments or set up regular direct deposits into a savings account. This can be organised easily through online banking or by making deposits in a branch. Talk to your lender to find out the easiest way for you to set up direct deposits.