Original ubank products

USpend account

Our USpend transaction accounts are no longer available for new customers

Account features

The USpend account works hand in hand with our USave account

More savings and smarter spending

  • No overseas fees

    We don’t charge ATM withdrawal and foreign exchange fees when you access your USpend transaction account overseas, or for online purchases with overseas merchants.

  • No monthly fees

    We don’t charge you monthly account keeping fees like some other banks.

  • Bonus rate

    Earn an extra 2.25% p.a. bonus interest on eligible balances in your USave savings accounts.

  • Sweep Technology

    Sweep Technology helps you earn maximum interest on your savings and have convenient access to your spending money 24/7.

Bonus variable interest rate

How to earn up to 2.35% p.a. variable rate on your USave if you have a linked USpend account

Bonus variable interest rate
  • Your existing USpend transaction account must be linked with your existing USave savings account*.

  • Deposit at least $200 per month

    Deposit at least $200 each month into your USpend or its linked USave from a non-ubank account (for example, your salary).

  • Bonus variable interest rate applied to a combined USave balance of up to $250,000

    The bonus variable interest rate will be applied to a combined balance of up to $250,000 held in your USave savings accounts, including joint accounts. Any remaining balance greater than $250,000 will earn the USave base variable rate.

Please note:

*You’ll need to be an existing customer and have a USave account linked to a USpend account to be able to earn the bonus variable interest. USave and USpend accounts are no longer available for new customers. If you have a USave but not a USpend, you will not be eligible to earn the bonus variable interest. The bonus variable interest rate of 2.25% p.a. will be applied to eligible balances held in each of your USave savings accounts (and not your USpend transaction account). If you meet the bonus interest criteria in the current calendar month, you’ll earn bonus variable interest on eligible amounts in your USave accounts for that month. The interest will be paid in two credits into your accounts:

  1. The first is interest calculated using the base variable rate
  2. The second is interest calculated using the bonus variable rate

You’ll have to keep meeting the criteria each month to remain eligible for bonus variable interest in that month.


What are Sweeps?

How do Sweeps benefit me?

Sweeps allow you to fix the minimum and maximum amount of money you’d like to have on hand in your USpend transaction account.

Maximum: to help maximise your savings

You do not earn interest on balances held in your USpend transaction account. Sweeps automatically transfer any excess money (at least $1,000) in your USpend account to your USave savings account to earn our competitive interest rate.

Minimum: to help make sure you have enough for your daily spending

If your USpend balance gets too low, the overnight Sweep automatically tops it back up to your minimum balance (at least $100) to make sure you have enough money to make your everyday purchases.

Live Sweeps

If you are in-store in Australia, and spend more than your account balance, just insert your Visa Debit card, select Savings and enter your PIN to access the funds from your USave.

How to change your sweep limits

To manage your sweep limits in the mobile app, select ‘More’, then ‘Manage Sweeps’.

Pay the way you want to

Pay the way you want to

Enjoy all the benefits of your ubank Visa Debit card with…

Apple Pay
Samsung Pay
Google Pay


Your Real-Time Budgeting & Saving Tool

Keep your savings goal on track by knowing exactly how much you have to spend each day. Available in the ubank mobile app for existing customers.

iOS 10+ only | Not available on Android


Have any questions?