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		UBank
				UBank are developed and backed by the financial strength and global capabilities of National Australia Bank Limited (NAB) - one of Australia's most established banks. UBank is a division of the NAB and operates under NAB. NAB is a very secure, profitable organisation. Even without this government intervention, NAB customers can be rest assured that the company is both highly regulated and financially stable.
		It is one of just four banks in Australia to hold an AA rating for its high level of financial security, and under Australia Prudential Regulatory Authority (APRA) regulations, it ensures that it has the money available to cover customer deposits.
		UBank Head Office P O Box 1466 North Sydney NSW 2059 Australia Toll Free: 13 30 80 (24/7) Email: hello@ubank.com.au Website: www.ubank.com.au Banking Hours‎: Mon - Fri : 9.30am - 4.00pm‎
	The banks are regulated by the Australian Prudential Regulatory Authority (APRA) in Australia. APRA is responsible for regulating much of the financial industry, including insurance and superannuation companies. Institution seeking to be prudentially regulated as an authorised deposit-taking institution (ADI) is required to be authorised under the Banking Act 1959 (the Banking Act). The Australian Prudential Regulation Authority (APRA) is responsible for the authorisation process. Section 5 of the Banking Act defines ‘banking business’ as consisting of both taking deposits (other than as part-payment for identified goods or services) and making advances of money, as well as other financial activities prescribed by regulations made under the Banking Act. The Banking Act only allows corporations to carry on banking business in Australia, which means APRA cannot consider applications from partnerships or unincorporated entities. ADIs are subject to rigorous and close supervision by APRA, which requires the ADI to comply with a range of requirements contained in Prudential Standards and provide comprehensive data to APRA under Reporting Standards.
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