86 400 Ltd

86 400 Ltd was an Australian app-based challenger bank. In May 2022, it completed the merger with UBank. The company was an authorised deposit-taking institution (ADI) providing financial products and services with great interest rates and no monthly fees. With about 90,000 customers and over 120 employees, it offered transaction and savings accounts, joint accounts, Visa debit cards, home loans, payment solutions as well as simple, digital application process. Domestic ATM withdrawals were free. The only fees were associated with international payments and international ATM withdrawals. Deposits were guaranteed up to $250K per account holder under the Australian Government’s Financial Claims Scheme. 86 400 Ltd was founded in 2017 and was the first neobank to obtain a full banking licence from the Australian Prudential Regulation Authority (APRA) in 2019. The Bank was primarily owned by Cuscal Limited. The name 86 400 means the number of seconds in a day. The company’s main competitors were Volt Bank, Up Money and Judo Bank.

In 2021, National Australia Bank (NAB) purchased 86 400 Ltd for $220 million, and combined it with its own UBank, a pioneering digital bank serving over 600,000 clients.

Head office address:
GPO Box 5218
Sydney, New South Wales
Number employees: 125+
BSB number: NA
Website: www.86400.com.au

Phone number:
Local Call: 1300 086 400
Overseas Call: +61 2 9058 7486
Working Hours:
Monday - Friday, 8 am - 8 pm