# MLC vs Ubank

The clearest difference is monetization model: MLC at free against Ubank's free with in-app purchases. Ubank's advantage is update cadence (fortnightly vs every 2 months) and review sentiment (44% vs 30%). On price, ads, in-app purchases and device support there is nothing between them.

Both are free to download. Neither carries in-app purchases, so what you see is what you pay.

MLC ships an update every 2 months, Ubank fortnightly. The most recent releases landed on October 17, 2026 and October 24, 2026 respectively.

## The numbers

| Metric | MLC | Ubank |
| --- | --- | --- |
| Price | Free | Free |
| Rating | — | **[4.6 (167 ratings)](https://appshunter.io/ios/app/ubank-digital-banking/id1449543099/reviews)** |
| Number of ratings | — | **167** |
| Positive reviews | 30.2% of reviews | **43.9% of reviews** |
| In-app purchases | No | No |
| Ads | No | No |
| Update frequency | Every 2 months | **Fortnightly** |
| Monetization | **Free** | Free with in-app purchases |
| Size | 49 MB | 134 MB |
| Requires iOS | **15.1** | 16.4 |
| Devices | iPhone, iPod | iPhone, iPad |
| Age rating | 4+ | 4+ |
| Developer | [IOOF Service Co Pty Ltd](https://appshunter.io/developer/1453139490) | [86 400 Technology Pty Ltd](https://appshunter.io/developer/1395091065) |

## What reviewers say

### MLC

[App page](https://appshunter.io/ios/app/mlc/id1409473189)

Manage your superannuation, pension, or investment accounts with ease. Securely access your balances, view transactions, update personal details, and track contributions. Find and consolidate lost super, and get notified of payments.

**Highlights:** View account balances, Secure login (PIN, Touch ID, Face ID), Check transactions and beneficiaries, Review insurance cover, Track super contributions, Find and consolidate super, Update personal details

**Features:** Vision Pro support

**In-app purchases:** none


### Ubank

[App page](https://appshunter.io/ios/app/ubank-digital-banking/id1449543099)

Manage your finances with a digital bank offering tools for spending, saving, and earning. Features include no monthly fees, bonus interest on savings, spending insights, and bill planning. Easily link external accounts and set savings goals.

**Highlights:** No monthly fees, Bonus interest on savings, Spending insights and pay cycle sync, Bill planner and separate bills account, Shared accounts for partners, Savings targets and autosave, Link external bank accounts

**Features:** Apple Wallet

**In-app purchases:** none

**What reviewers like**

- 🚀 Simple and easy banking
- 🔒 Secure and trustworthy
- 👍 User-friendly app and website
- 💰 Competitive interest rates
- 🤝 Shared accounts feature

**What reviewers complain about**

- 🐛 Buggy app with frequent crashes and login issues
- 🔒 Restrictive ID requirements for account opening
- 🤔 Confusing changes to account structure and transaction rules
- 🕰️ Slow customer support and unresponsive to issues
- 💳 Inability to pay directly from savings accounts

**Reported bugs**

- Passkey login frequently not working
- Account balance not updating correctly
- Inability to delete old passkeys
- Swipe back gesture not functioning
- App freezing on splash screen

**Requested features**

- Custom expense categorization
- Apple Watch app or home screen widgets
- Improved transaction history and balance tracking
- Seamless integration with other bank accounts
- More transparency around interest rate changes


## Frequently asked questions

### Is MLC free?

MLC is free to download, with no in-app purchases.

### Is Ubank free?

Ubank is free to download, with no in-app purchases.

### Do MLC or Ubank have ads?

Neither MLC nor Ubank shows ads.

### Which is updated more often, MLC or Ubank?

MLC ships an update every 2 months, and Ubank fortnightly. Most recently, MLC was updated on October 17, 2026 and Ubank on October 24, 2026.

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*Compared by [AppsHunter](https://appshunter.io/) from daily US App Store data. Review summaries are generated from verbatim App Store reviews.*