UBank removes two fees from its USaver Ultra account

Nick BendelAug 23, 2018( 1 min read )

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UBank has stopped charging USaver Ultra customers overseas ATM fees and foreign exchange conversion fees.

As of 20 August, UBank has eliminated the overseas ATM withdrawal fee, which was previously set at $4.

It has also removed the foreign exchange fee, which was previously set at 2 per cent of the total transaction value.

That means USaver Ultra customers will no longer pay fees when they access their account overseas or make online purchases with overseas merchants.

UBank’s USaver Ultra also does not charge a monthly account-keeping fee.

The USaver Ultra account pays a base interest rate of 1.81 per cent and a bonus interest rate of 2.87 per cent.

To earn the maximum interest rate, customers must deposit at least $200 per month from a non-UBank account.

Nick Bendel

Property Personal Finance Writer

A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.

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A savings account is a type of bank account in which you earn interest on the money you deposit. This makes it one of the easiest and safest investment tools.

UBank removes two fees from its USaver Ultra account

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