Over the past 3 years I’ve opened a ton of different accounts with different banks in Australia, and have primarily used Up Bank.
I primarily use it for one singular reason:
Up exposes a public API to interface with your transaction data, basically allowing you to download, view, and organise all your transactions and payments.
This becomes extremely useful when trying to organise and use data to make decisions like your projected savings, earnings over time, the possibilities are endless.
Recently I was curious how much up/down I am playing poker with my friends. It was extremely easy using my past transactions and AI to figure out every game i’ve ever played and calculate from there.
pretty cool I also have reports of different player styles and their P/L scores when I’ve been banker
This is insanely cool personally and I love knowing that I have the ability to search through any transaction and extract insights from it.
This is especially powerful with LLMs, currently I’m leaving my Mac running as a server to semantically categorise every one of my 5700 odd transactions for further analysis.
Up currently has an interest rate of 4.60%, which is slightly less than the 5%s you can get at other banks. Personally though I really value the data and convenience of Up’s other features:
-
Easy split payments with friends on Up.
-
No markup on foreign transactions and payments (usually the main reason that draw people to Up)
-
Tons of convenient and well thought-out features like Apple Watch widgets, automatic transfers and roundups, smart budgeting features, etc.
I’d highly recommend at least trying it out it if anything I mentioned sounds interesting! Feel free to use my referral code I think we both get $15!
That’s about it, thank you for reading don’t forget to like, comment and subscribe!!!