Australia
activeFeaturedNeobankBusiness banking
- HQ
- London
- Fee
- Free personal
Up
Australian spending account with a cheerful debit card.
Legal entity: Up is a brand of Bendigo and Adelaide Bank Limited, ABN 11 068 049 178. Everyday, Savers and Essentials Saver balances are deposits with that ADI (Up FCS page).
Tap a star to jump to reviews
7.9Solid
AlternativesFive questions
At a glance
Is it a bank?
Yes — ADI via Bendigo and Adelaide Bank (APRA). Still read the entity on the statement.
If it fails?
Financial Claims Scheme on deposits with Bendigo and Adelaide Bank Limited. Up’s FCS page: Everyday, Savers and Essentials Saver count toward the FCS limit together with any other deposits you already have at Bendigo and Adelaide Bank.
Salary?
Yes — an Up Everyday Account is a deposit at Bendigo and Adelaide Bank and can take Australian salary.
Open from abroad?
Australian ADI product. Residency and KYC sit with Bendigo and Adelaide Bank rules.
Monthly fee
Free
Account number
No IBAN-class local rail on this file.
NeoBankDB Verdict
Licence first · score second
7.9
/10 · Solid
The Australian consumer pick. Archa is the business-card cousin in this register; they solve different jobs.
What it is
Up is a digital bank brand of Bendigo and Adelaide Bank. Deposits are ADI deposits. That is why it survived the Australian neobank thinning that sent others to the graveyard.
Best for: Australians who want an ADI-backed everyday account with a beloved app.
Last checked 2026-08-01. Not advice.
What it does well
- +Real ADI protection via Bendigo
- +Best-loved consumer fintech app in Australia
- +Free everyday banking
- +Savers that people actually fund
What to watch
- −Australia-only
- −Not a business platform
- −FX is not the point
Legal entity, not the app icon
Who is behind it
- Legal name
- Up is a brand of Bendigo and Adelaide Bank Limited, ABN 11 068 049 178. Everyday, Savers and Essentials Saver balances are deposits with that ADI (Up FCS page).
- Parent
- Bendigo and Adelaide Bank Limited
- If something goes wrong
- Australian AFCA path sits with the ADI (Bendigo and Adelaide Bank Limited).
Who holds the money
The account
- Platforms
- iOS · Android
- Account types
- Everyday · savings · kids
- Partner bank
- Bendigo and Adelaide Bank
- Minimum balance
- A$0
- Lowest monthly fee
- A$0
- Who can open
- Australian residents
- Availability
- Australia
- Remote open
- Australian ADI product. Residency and KYC sit with Bendigo and Adelaide Bank rules.
- Onboarding
- Australian KYC (electronic verification under Up’s terms).
- KYC documents
- Australian ID as the ADI requires.
- Minimum age
- 18 for the core account unless Up publishes a junior SKU — read the live terms.
- Salary / payroll
- Yes — an Up Everyday Account is a deposit at Bendigo and Adelaide Bank and can take Australian salary.
- Local rails
- BECS / PayTo / NPP — Australian domestic rails.
How money actually moves
- Who holds the cash
- Bank balance
- How money moves
- In-app ledger
- Built for
- Personal
- Settlement
- App-ledger instant; bank rails per corridor
- Freeze risk
- Bank-grade; still not freeze-proof
- Card
- Up lists a physical card and a virtual card on mastercard, plus Apple Pay and Google Pay. Confirm the live product in the app — a card is not a current account.
Licence first
Safety
Financial Claims Scheme on deposits with Bendigo and Adelaide Bank Limited. Up’s FCS page: Everyday, Savers and Essentials Saver count toward the FCS limit together with any other deposits you already have at Bendigo and Adelaide Bank.
Who holds the money: Bendigo and Adelaide Bank
- APRAADI via Bendigo and Adelaide Bank · Australia
Fees
- Monthly
- Free
- FX markup
- International spend fees apply (not a travel specialist)
- ATM
- Fee-free at partner ATMs
- Interest
- Savers with bonus rates
Features
- –IBAN
- ✓Fee-free core
- –Multi-currency
- ✓Apple Pay
- ✓Google Pay
- ✓Virtual card
- ✓Physical card
- –Metal card
- –Crypto
- –Stocks
- –Business
- –Kids
- –Halal
- Spending account + Savers
- Pay on the day payday tools
- Two-up joint
- Cover (insurance) add-ons
- Open banking in Australia
Before you tap Sign up
How to open
Step 1
Up is a brand, not the ADI
Deposits sit at Bendigo and Adelaide Bank Limited, ABN 11 068 049 178. That is Up’s own FCS page.
Step 2
Australian KYC
You are becoming a customer of the ADI. An App Store listing is not a non-resident offer.
Step 3
Aggregate the cap
FCS is per ADI. Other Bendigo balances count toward the same cap as your Up pots.
Official help: up.com.au/fcs/
Operator documents
Their own papers
These are the operator’s documents. They outrank this review if they disagree.
Score
- Safety25%
- 8.8
- Fees20%
- 9.0
- Features15%
- 8.0
- App15%
- 9.2
- Global15%
- 3.4
- Support10%
- 8.0
Change log
Full logNo dated notes yet. When the licence, fees, or status moves, it lands here.
Available in
Straight answers
FAQ
01Is Up a bank?
Up is filed as ADI via Bendigo and Adelaide Bank. The named regulator is APRA. Still read the entity on the statement before you send money.
02What happens to money in Up if it fails?
Financial Claims Scheme up to $250,000 at the ADI
03What does Up charge each month?
The monthly fee on this file is Free. Fees change — open the operator's pricing page if it is linked.
Ratings and reviews
No published user reviews yet. The NeoBankDB score still comes from licence, fees, and the product — not from an empty star average.
Alternatives
activeFeaturedNeobankCrypto card
- HQ
- London
- Fee
- Free
activeFeaturedKids and teens
- HQ
- Sydney
- Fee
- Subscription per parent plan