cash % return account, page-8

SSkim

Ubank is just a trading name - it is actually National Australia Bank Limited. So from a credit risk perspective, it is the same as depositing with NAB.

All the big four (ANZ, CBA, NAB and WBC) have a AA credit rating. Rabobank has a AAA rated which is better.

Also deposits with all of the above are guaranteed by the Australian Government up to $1m until early next year when the amount drops to $250k. That is per bank not per person, so if you spread it around, it is like owning Australian Government Bonds - very safe.