Up Review
Comprehensive review and analysis of Up's digital banking services
Quick Facts
- Founded
- 2018
- Head Office
- Australia
- Active Customers
- 500,000+
- Total Funding
- Backed by Bendigo Bank
- Employees
- 150+
- App Store Rating
- 4.9/5
Pros & Cons
Pros
- Excellent savings features
- Smart spending insights
- No monthly fees
- Modern app interface
- Quick payment splitting
- Real-time notifications
Cons
- Limited to Australia
- No physical branches
- No joint accounts
- Limited international features
Supported Countries
- Australia
Fees
- Account Maintenance Free
- International Transfers Competitive rates via Wise
- ATM Withdrawals Free at major Australian banks
- Foreign Transactions No foreign transaction fees
- Card Replacement Free
Overview
Up has revolutionized banking in Australia since 2018 with its modern, tech-forward approach. As a collaboration between software company Ferocia and Bendigo Bank, it combines innovative technology with traditional banking security.
Key Features
Banking Services
- Transaction account
- Savings accounts
- Physical debit card
- Digital wallet
- Mobile payments
- Real-time notifications
Savings Features
- Multiple savers
- Round-ups
- Automated savings
- Savings goals
- Spending insights
- Salary splitting
Payment Features
- PayID
- Osko payments
- Payment splitting
- Scheduled payments
- International transfers
- Digital wallet support
Mobile Features
- Modern app interface
- Spending categories
- Transaction tagging
- Merchant recognition
- Receipt capture
- Spending insights
Security Features
- Biometric authentication
- Transaction security
- Instant card control
- Fraud monitoring
- PIN management
- 24/7 security
Customer Support
- In-app chat
- Email support
- Help center
- Community forum
- Social media support
- Knowledge base
Verdict
Up stands out for its innovative approach to digital banking in Australia. The combination of smart savings features, excellent user experience, and modern design makes it particularly attractive for tech-savvy users seeking a better banking experience.
While the platform is limited to Australia and lacks some traditional banking features like joint accounts, it excels in providing a comprehensive digital banking solution. The integration with Wise for international transfers and strong focus on savings tools creates significant value for users.