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Designing Up Banking

up.com.au

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41–48 of 48 posts

Re: Designing Up Banking

#41

Post by deecewan »

rewq4321 wrote: post #4

Great to see so many new user-friendly fin-tech apps gaining traction these last few years. Revolut recently launched out of beta in Australia, and they have disposable cards and virtual cards, which was a huge selling point for me. It's absurd that we had to essentially hand over the password of our bank account to random online sellers and let them pull the money out, instead of just sending them some money. It's a…

There is no lowering of your rates if you have too much. It's just that the bonus interest rate only applies to the first $50k you have in your Saver accounts (cumulative). I.e. if you have $51k, you'll only get the bonus interest rate on $50k of that. The remaining $1k only gets the base interest rate. You can see more on the pricing page [1]

Disclosure: Up employee. Not financial advice, etc, etc.

[1]: https://up.com.au/pricing/

Re: Designing Up Banking

#43

Post by tomhoward »

twic wrote: post #37
twic wrote: post #6

> A moment that should feel significant and celebratory — you’ve literally just opened a bank account in under 3 minutes through your phone — feels clinical and unimpressive. But why? Is this really of any benefit? To who? This whole thing reads like a designer's daydream.

POSTSCRIPT: I apologise for not being clearer. It's great that you can open an account quickly. I'm questioning the need to make it feel "significant and celebratory" by adding an unskippable cutscene for the "moment post-signup that made you go “f*ck yeah” in celebration".

Because it's fun and makes users feel happy? And because happy users become engaged, loyal and evangelical users?

They do plenty to evaluate that this stuff works; if it has an outcome other than what is intended, they change it.

Re: Designing Up Banking

#44

Post by wdb »

robgough wrote: post #28
twic wrote: post #6

> A moment that should feel significant and celebratory — you’ve literally just opened a bank account in under 3 minutes through your phone — feels clinical and unimpressive. But why? Is this really of any benefit? To who? This whole thing reads like a designer's daydream.

I opened an account with a UK challenger bank while sat in a bar, and within 5 minutes had paid for a round with Apple Pay (which could be set up before the card arrived). It was pretty damn impressive. It might seem of limited utility, but I did similar when I set up my business account (though admittedly I was buying software licenses rather than beer) and that was genuinely useful. Not that I couldn't have waited,…

I am still find it annoying they don't offer some proper online banking site alongside the phone app. One of the reasons I barely use Monzo.

If I want to pay bunch of bills I prefer to do it on a big screen instead of my small phone screen.

Re: Designing Up Banking

#45

Post by bioipbiop »

pkteison wrote: post #35
mwakerman wrote: post #33

Earlier quoted context omitted.

I just checked and Up is 1.5%, Volt is 1.45%, and Macquarie is 1.5% for the first 4 months before dropping to 1.35%. Edit: Up is actually at 1.6% when you activate the bonus rate by completing 5 card transactions in a month.

Up says they are .1% without the bonus. "Interest rate Up to 1.60% p.a. (base 0.10% p.a. and bonus 1.50% p.a - details below)" from https://up.com.au/pricing/ .1% does indeed sound pretty awful.

And that bonus is only on the first 50k.

Re: Designing Up Banking

#46

Post by ficklepickle »

llimos wrote: post #7

I do like the idea of the celebratory animation. It is a big deal to have completed the process, and one you're only likely to do once every several years. But I wonder if they thought about the effect of the flashing lights on someone with epilepsy, especially since they wouldn't be expecting it from a banking app? Full disclosure: I do not have epilepsy and nor do I know anything about it so I don't know if this is…

In CSS, there is the "prefers-reduced-motion" media query for this purpose.

Re: Designing Up Banking

#47

Post by rewq4321 »

tshanmu wrote: post #25
rewq4321 wrote: post #4

Great to see so many new user-friendly fin-tech apps gaining traction these last few years. Revolut recently launched out of beta in Australia, and they have disposable cards and virtual cards, which was a huge selling point for me. It's absurd that we had to essentially hand over the password of our bank account to random online sellers and let them pull the money out, instead of just sending them some money. It's a…

Request to pay is much safer: https://www.requesttopay.co.uk/ Disposable cards just shifts the problem and still subsidises visa/mc.

Oh that gives me hope! Thank you for sharing. I hope this sort of thing quickly becomes a standard around the world. I wonder if the web's Payment Request API has support for this? You'd think so from the name, but I can't find any details. It seems that it's just an API to hand over your bank password to the online store.

Edit: Wait, this requires giving the seller my home address along with my bank details? Maybe I misunderstand. I shouldn't even have to give my name or my bank details (which can obviously be used to personally identify me) - I should be able to generate a unique code (which includes the bank's id) that I give to the seller - like with the disposable cards (except that requires my name too - and they can draw as much money as they want, which is obviously bad).

Re: Designing Up Banking

#48

Post by fomine3 »

ficklepickle wrote: post #46
llimos wrote: post #7

I do like the idea of the celebratory animation. It is a big deal to have completed the process, and one you're only likely to do once every several years. But I wonder if they thought about the effect of the flashing lights on someone with epilepsy, especially since they wouldn't be expecting it from a banking app? Full disclosure: I do not have epilepsy and nor do I know anything about it so I don't know if this is…

In CSS, there is the "prefers-reduced-motion" media query for this purpose.

It's good to know, how many sites supports?
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