Original ubank FAQs

Info on original ubank products

This FAQ is related to an original ubank product that new customers can no longer access. Head to our help centre if you want info about our current ubank products.

Is my money safe and covered by a Government Guarantee?

ubank is a division of National Australia Bank Limited (NAB).

As part of the NAB Group, we have the strength of one of the world’s largest financial institutions behind us. You can be confident in the strength and safety of ubank.

The Australian Government guarantees deposits up to $250,000 per person per Authorised Deposit-taking Institution (ADI) including ubank. This means that your deposit up to $250,000 with a financial institution is guaranteed by the government to be paid back to you in case that financial institution fails.

Deposit accounts held by a customer with an ADI are added together for the purposes of the Australian Government guarantee. This includes accounts held directly with NAB (as ubank is a division of National Australia Bank Limited). e.g. If you have both NAB and ubank deposit accounts, the Australian Government guarantee applies to the combined value of these accounts.