Due to a merger update, UBank has received tens of thousands of complaints from customers locked out of their accounts and unable to access their funds.
Australian digital bank UBank has received thousands of complaints from customers who have been locked out of their own bank accounts
UBank, which was established in 2008 as Australia’s first internet bank, is licensed by National Australia Bank (NAB) but has no physical branches.
In January of last year, NAB announced a $220 million agreement to acquire digital bank 86 400 before combining it with their existing digital bank unit.
The update has necessitated the modification of all UBank accounts, with around 130,000 clients getting USBs, new debit cards, and new account numbers.
Australian digital bank UBank has received thousands of complaints from consumers whose bank accounts have been frozen.
Australians have attempted to contact the bank’s customer care department for assistance in gaining access to their funds
Customers worldwide have been locked out of their accounts, have had technical troubles with the UBank app, and have received ‘poor’ customer care as a result of the merger.
The digital bank has been criticized on social media by consumers pleading for assistance with accessing their funds.
‘UBank I am abroad and furious,’ one lady posted on Facebook.
Since being transferred from the old to the new app, I have not had access to my money/UBank app for about a week. My regular password is not functioning; therefore I cannot log in to view my funds or fill up the card I am using abroad.
Another commented, “UBank…I have NEVER in my whole life encountered such poor phone customer service!”
“Yesterday, your operator terminated my friend when she called for assistance since her account had been locked… and when she called back, she was told that the security staff that can assist her does not operate on weekends?”
A third unhappy consumer remarked, “I just received an email from UBank informing me that all my cash have been processed and my accounts have been canceled.”
“I called your emergency line to notify UBank that I did not clear out and cancel my accounts, only to discover that the line for international clients is closed at 8 p.m.”
Where are my funds? Why have my accounts been closed? Please get in touch with me!’
One woman described the bank’s handling of the situation as a “complete catastrophe.”
UBank was founded in 2008 as the country’s first indigenous digital bank. It is licensed by the National Australia Bank.
Multiple complaints on Facebook and Twitter indicated that consumers were locked out of their accounts, experienced technical difficulties with the UBank app, and received poor customer support.
Aussies have tried to call up the bank’s customer service team for assistance in accessing their money (stock image)
‘Absolutely horrified to find that you have essentially revoked all account user logins and I can’t access MY money till I spend/waste time on the phone at 8am tomorrow to have my passwords/access reset,’ claimed one consumer.
Hello UBank. It would have been preferable if your help desk had been fully manned following such a significant change to your app and consumers’ actions. 1.5-hour wait times are unacceptable, commented one customer.
One individual stated on Twitter, “@UBank I’m sorry, but I’m going as soon as I return to Australia.” I am still unable to access my funds abroad.
‘#ubank’s transition to the new app and accounts appears to be an utter failure. You’d think #NAB could get it right..you make billions of dollars per year and can’t put enough employees on the phone centre to manage the avalanche of customers now locked out of their accounts. Amateurs!’ tweeted a second.
Many of those who lodged complaints disclosed their intention to move banks.
UBank was started up in 2008 as Australia’s first homegrown digital bank. It is under the National Australia Bank licence
UBank has apologised for the error which locked clients out of their bank accounts. The bank said that its app and internet banking had been “completely restored.”
UBank has subsequently issued apologies to their clientele for the big blunder, which they claim occurred solely over the weekend for international clients.
‘We are aware of an incident over the weekend that momentarily stopped a handful of clients from accessing the ubank app when overseas, however internet banking remained accessible,’ the bank stated in an online statement.
We apologize for the inconvenience caused to customers traveling abroad and confirm that the app and internet banking have been completely restored.
UBank said that their customer support staff was “handling a higher-than-usual level of traffic at this time” and that, as a consequence, their team had been “bolstered.”
A UBank representative told Daily Mail Australia, “We are aware of a problem that stopped a number of clients from accessing the UBank app while abroad over the weekend, however online banking remained accessible.”
We apologize for the inconvenience and want to ensure our clients who are currently abroad that all services have been restored.
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