6 Things you didn't know you could do with a U Account

9 Jan 2018

There are a million reasons your U Account is so much more than a boring old current account. Here are six of them.

1. Create a balance-friendly, end-of-the-month emergency fund


Constantly running out of cash before the month is up? Yeah, tell us about it. Money management is hard. And it’s not just the financial cost of stuff that takes its toll on our budgets, it’s the time we don’t have to spend thinking about them, too. We’ve all been there, checking our balances after a busy week to find we’re a couple of hundred quid short of what we expected and a couple of weeks further from payday than we’d like. Well it’s precisely for these times that we’ve created our optional ‘Overdraft buffer’. It’s a tool that stealthily builds up a little separate pot of money for you by taking a meagre, barely noticeable £1 from your main account every day, and squirrelling it away into an Extra Account for when you need that money the most. Use it a bit like an overdraft at the end of the month – the difference is you’re borrowing money from past you instead of future you.

Set it up! Just log in to your U Account and go to Extra Accounts > Overdraft Buffer.

2. Set aside £667.95 without even noticing


It’s a marvellous feeling when you come across a few quid you’d forgotten all about.

Well, imagine if that few quid was nearly £700.

Would you pay off your Christmas debt with it? Or save it to cover the cost of next Christmas? Maybe you'd use it to pay for that holiday you've been dreaming of, or even keep it exactly where it is, in case of a rainy day.

365 Budgeting is a fully automated tool that helps you to stash away a fund you'd forgotten you were even saving. It works by taking just a penny on day one, 2p the next day, 3p the day after that... et cetera, et cetera, until you have a not-to-be-sniffed-at £667.95 set aside for you 12 months later, to spend (or not spend) on whatever you choose to spend (or not spend) it on.

It's a really nifty way of spreading your biggest expenses across the year, so they don't seem all that big.

Get started! Log in to your U Account and go to Extra Accounts > 365 Budgeting.

3. Manage your account on the go with our app


With Balance+ you can... keep an eye on your account balance, check your recent transactions, drag and drop money to/from/between your Extra Accounts, look out for any service status updates, get notifications on any disruptions to service, double-check your fees, read up on payment limits, browse through U's FAQs and contact our customer service team. *Inhale*

And on top of all that (!), you’ll soon be able to check the status of your card, activate your card, get your PIN, report your card if it’s lost, stolen or damaged, lock and unlock your card, or order a new card... Basically lots of stuff to do with YOUR CARD.

(Technically, that’s 18 things you can do with your U Account.)

Get it! Download Balance+ here for iOS, here for Android.

4. Get your bills over with as soon as you’re paid


We’re talking Extra Accounts again. (They make themselves useful, don't they?)

Have you ever thought about putting aside aaaall the money for every single one of your bills and regular payments as soon as you get paid, and then not even looking at any of them again until next month? For that to work, you’d need the option to actually pay those bills directly from the place you’d stashed the money, automatically, on the day they’re due. (You can see where I’m going with this, can’t you?) Conveniently, Extra Accounts let you do that.

All you’d need to do is create a dedicated Extra Account (let’s call it ‘BILL’), arrange for your direct debits to come out of BILL, and set up one standing order from your main account to put your bill money straight into BILL on payday. It’s a great way of making it perfectly, crystal clear just how much money you can let yourself spend on more fun things for the rest of the month, and avoiding getting caught short when something less exciting, like your electricity or phone bill, tries to come out of your account.

Do it! Learn how to set up standing orders and direct debits here.

5. Reveal your spending habits with colourful, graphy, visual statements

Whether it’s an addiction to adventures, a soft spot for shoes, or a penchant for pizza – you can’t hide it from your U Account Money Manager. But it’s not there to catch you out, it’s there to help you learn about your own spending habits so you can be better informed when managing your budget. Money Manager breaks down all your monthly spending into categories for you to compare, and even shows you how far your cash is stretching every month.


Check it out!
Just visit the Money Manager page in your account.

6. Earn money by spending it


I thought I’d save the best 'til last.

It’s a sunny Saturday, you’ve just been paid, and you’re treating yourself to a potter about in town with your best mate – I don’t mean your contactless U card, but yeah you’ve got that too ;-)

You’ve already sorted your mum’s, sister’s and great aunt Judy’s Christmas gifts for next year in the H. Samuel sale (£65.55), found a very handsome pair of shoes in New Look (£19.99) and stopped at Mamas & Papas for a few essential baby supplies (£39.99), so you duck into Pizza Express for a rest – unlimited-buffet style. You pay on your card (£21.75) making a mental note to make sure your pal pays you back.

In just one, ordinary day, you’ll have earned over £10 in cashback. Nice work!

And that adds up. Over the month, every time you spend at any of our 25+ popular retail partners you’ll earn up to 7.5% back in U Points. Once the retailer has confirmed the purchase, we pop the points into a dedicated Extra Account for you in the form of cold, hard cash. 1 point = 1 pound.

Get earning! View all our retail partners and their cashback rates at www.uaccount.uk/points (you’ll need to be logged in).


And if you don't have a U Account yet, what are you waiting for? You can apply right here.

Written By
Faye G

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