My current bank isn't super useful with internet banking, and with branches being as rare as hen's teeth, accessing service is too much of a hassle. So thinking to shift. Interested to know what you all think about these banks I'm thinking about shifting to.
- Bank Australia
Pro: Love the ethical/environmental stance, like that they trade under their own licence
Con: Not really sure how good their internet banking is.
- Ubank
Pro: certainly seems like the best for internet banking
Con: trade under NAB licence (is this really much of a problem though)
- Beyond Bank
Pro: only bank run for members, because it's an old credit union, have personal recommendations
Con: Don't know if they have better internet banking than even my current provider.
- Mystery Bank suggestions??
Pro: Perfect bank for me!
Con: Don't know about it yet.
Comments, not financial advice ;), are very welcome!
Hubby and I have been increasingly using our Up accounts. Up is a subsidiary of Bendigo Bank, and the app is the only way to do things.
Their setup is: Each of us was given our own account when we signed up. We've got physical debit cards for these accounts. You have the option to create a joint account with another user. By default this account only has a digital "debit card" but I think there's an option to request a physical card. From your two accounts (solo and joint), you can subdivide into "savers" which look and feel like separate savings accounts but on your statement they're rolled into the main account. You can have lots of savers if you want to. These can't have cards attached but earn interest. We use them to hold money for different purposes. I've never tried closing a saver so I don't know how that goes. I'm honestly not sure what the use would be in regularly opening and closing them. Just change the labels as you need to. Leave one empty while it's not needed; repurpose it next time you need a new one.
Everything is done through the app, and everything I've needed to do has been straightforward.
Tbh, it doesn't cost anything to open a bank account. If a bank you're considering doesn't have any monthly fees (Up doesn't, UBank didn't when I tried them a few years ago; maybe your other options don't either) then you can just make an account and try them out. A bank that is online like you want will let you sign up online. See if you can do the things you need to do online/in the app. If yes, you have a winner. If no, keep looking.
Thanks for the rundown! I'll have a look at Up. You're setup seems basically what we're wanting. I was thinking of doing what you suggest and just opening a few accounts in each if they're free and trying them, I think it's the way to go.
I wouldn't be, we repurpose what we've got now, I think I miscommunicated that part.