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.