Hi all. i love up but the grow/flow rate frustrates me. I like to keep all of my money in savers so its not just sitting on my card and then move it when i want to spend money. Does anyone have any stragglers or structures to get around/maximise the grow flow rate?
Not a dunk post. Love using UP for splitting costs with housemates and friends etc. Low risk incidentals and daily life stuff. Travel options are fucking amazing too.
Really looking forward to the Essentials feature launching on 1 Sept. Thing is, UP is not my nominated salary deposit nor savings account, so I don't think I could take full advantage of it.
But I don't want to deposit my salary into UP because I can't fully commit to it whilst the service is mobile app only.
It might just be a matter of personal risk, but what on earth would I do if I lost my phone (or stolen!) and couldn't easily access my funds? How do I block my cards, or lodge an issue that my phone is gone? Can't buy food and essentials until I recover the service, but at least my gym membership is paid? And without a branch to walk into, I'd be a bit up the creek.
I get my phone and UP app has its own protections like biometrics, but still, concentrating an essential service onto a device that can easily be misplaced just seems a bit silly. I think there are some services, like banking, that absolutely require a browser-based portal or, at least, a desktop app. Just some other alternative.
I'd like to fully commit to UP Banking more, but without that sort of accessibility and de-risking, it's relegated to just being a nice way to split costs with friends.
Got this noti today at those times uhhhhh i dont remember leak my physical card anywhere i only use my virtual card for online transactions
I used to go through my transactions pretty regularly, but now I mostly just notice the notifications when I spend. It’s definitely easier, although I’m not sure if I’m actually keeping track as well as I used to. Just wondering how other people manage it day to day.
2Up is amazing if you’re in a couple, but what about housemates or group trips?
Right now if 4 of us go out for dinner or split electricity bills in a share house in Melbourne, we still have to use Splitwise or manual PayID requests. It would be insane if Up introduced temporary "Group Savers" or multi-person payment splits inside the app where 3-4 Up users could split a transaction with one tap
Hi all , so I had taken od facility on my sbi fd. The FD matures this December and I want the amount to my saving account rather than renewal as I am in need of money. So I have set the renewal option to "transfer principal to savings account" in yono.
But this year when i contacted branch to pre close and take the fd the branch manager convinced me to take OD instead. The money required is high and if I want to close this OD I will need to borrow money from somewhere else. ( But my FD has enough and extra)
So if I do not repay the OD fully before the FD maturity will the bank automatically take the remaining OD amount and pending interest and then pay me the rest of my FD ? Also will this settle or close my OD ? Or will my FD be locked in some stupid SBI loophole ?
I am pretty sure that branch manager will still convince me to renew my FD but I am in urgent need and this is my money !
So I am trying to do as much via app rather than contact branch (sbi is poor in this regard).
Any insight would be appreciated.
Watcher here for a long time, thanks for the insights, I’ve also posed this Q to in app support, but curious if anyone in similar situation may have advice:
My wife and I (37m/f) have done all banking with Up for the past few years now. Last month we finally refinanced our mortgage to Up, something we’d planned to do since the product was announced but needed to let job changes settle and get some consumer debt under control that we’d let get away for too long under the excuse of having a son who will turn 2 this week.
Goal is to pay down fast so we can afford a shift closer to the city (Melb, currently living a 60-90min commute to city we both do 1-2x a week on average) smaller place, easier to clean, but way closer and better before little man starts school. Target price likely 1.2-1.5m +/- whatever the housing market does.
Current situation:
PPOR value ~$800k
Mortgage bal ~$581k
Offset bal ~$26k
My income highly variable ~$250-300k (sales with monthly comm)
Hers part time $80k
3 months ago we cancelled all our credit cards, and refinanced 2 outstanding bills, card balances and the dregs of a loan used for the final part of our wedding into a consolidated 7.9% loan, ~20k remaining paying $490 a fortnight, will be killed off in under 2 years, no penalties on additional repayments. One goal will be when offset is healthier to kill this faster with the lumpier parts of my pay.
Offset is ~equally split between a small amount we’ve put away every paycheck for our son since he was born (plan to grow till he’s 18-20 to help with uni or buying a home) and a ‘rainy day’ saver we started 2 months ago and have built up rapidly thanks to tax returns and commissions.
We have set mortgage payments to happen every fortnight, 1 day after my pay hits:
Pay comes in
-$2500 goes to mortgage saver, 1 day later it pays mortgage
-$250 goes to son account
-whatever’s left allowing for ~$1500 spendable bal (nearly all expenses set as regulars) goes to ‘Rainy Day’
Sorry for the context novel: here’s the question:
-We’ve made 3 fortnight payments since settlement mid July: $2000, $2500x 2
-Min repayment = $3752, 25y term
-Till yesterday mortgage had no interest applied, so bal had come down $7k, and we had an available redraw of approx $3200 (can’t remember exactly but I would guess $7k -$3752?)
-First interest charge applied: $2825.45
-Available Redraw: $0
Our plan is to continue paying $2500 a fortnight (likely more once personal loan cleared), but it’s also important to us to build up more liquidity to avoid a situation like we were dumb with on credit cards (I paid hundreds a month in CC interest for a decade 🤦♂️). Why has the redraw gone to 0 despite interest being less?
This is likely a dumb question the answer for which is basic math, but appreciate and insight if anyone in a similar boat thinking about how they balance this. 🙏
I know we all want an Up website so I made one.
It's hard to convince people to use anything 3rd party when it comes to banking so UpSized is designed to make it as trust worthy as possible:
* Open source
* Easy to use (Single file, can run without a server)
* Best security practices
* Supports 1Up, 2Up and Home Loan accounts
* Read only (due to ups API limitation this can only read transactions)
Hi all,
My partner and I are looking to make a joint account after a year of living together to make rent, shared bills, groceries, and other couple things a bit easier. I'm an up customer but he isn't. I was just wondering if anyone was using 2up and could speak to its ease? We'd ideally want it to come with a seperate card and be within both of our names
Love the app to bits, but sometimes I really wish Up had a proper companion web interface for desktop. Doing a deep dive into your spending or looking back over a whole year's transactions can feel a bit cramped on a phone. I know you can export transactions, but having the actual Up experience on a bigger screen would be so handy. Anyone else feel the same?
So I've changed employers and I want to transfer my pay splitting from my previous employer to the new one. Is there a way to just swap the income source that is being split? Or do I really have to manually put in each split again on the new income source? I have so many 😭
Edit: well damn it doesn't seem like this is possible. Thanks for the replies. I might still ask support as I still think it would be a good feature to have.
I’ve started putting things like rego, insurance and other yearly bills into a separate Saver instead of letting those payments catch me off guard when they come around. It feels easier than trying to find the money from my everyday balance when the bill is due. Would be good to see how other Up users organise these less frequent expenses.
Greater bank are offering a home loan rate of 5.85% p.a with $3,000 cash back.
No offset, but redraw facility.
Has anyone switched or heard if UpBank will match them?
Did you experience na ba na by opening your EastWest app, it says “unable to show details?” I just checked my account now and I can’t see my card details. How am I going to pay my bills?
When I first joined Up, I tried to give every Saver a permanent purpose. That lasted about a month. One started as a holiday fund, then became a new phone fund, and now it's for home repairs. Another has had three different names this year because my priorities keep changing. I've realised I don't really create new Savers anymore, I just recycle the ones I already have. It made me wonder if that's pretty common or if most people prefer keeping a separate Saver for every goal they have.