Uala digital banking

Ualá review

Ualá is a money management app based in Argentina, offering money management tools to help customers with their personal finances. They currently offer customers a pre-paid Mastercard that allows them to make financial transactions in Argentina and abroad. Now, Ualá is not a fully-licensed bank, and therefore, deposits are not individually guaranteed by Ualá themselves. 

Ualá review video (from official Ualá youtube channel, in Spanish):.

How to open Ualá account

Ualá makes opening an account a much easier process than with traditional banks, requiring users to download their app from the App Store or Google Play. Once the app is downloaded, users have to enter some personal information, an address to send their card to, and then verify their identity with their Argentinian government-issued ID and a selfie. 

Ualá currently offers one account option for customers, which is entirely free of charge. A significant part of the service they offer is to be entirely free of fine print and hidden fees. This means there are no monthly fees to open or maintain an account, close an account, make transfers between Ualá users, top-up funds, and no fees on your first two ATM withdrawals per month.

How to add funds to the Ualá account

Ualá makes it easy to add funds, allowing users to transfer funds from any bank account. They also offer customers a service to deposit cash into their accounts via Pago Fácil, which is a rare feature for a digital bank. Ualá offer bill paying and money transfer services via a chain owned by Western Union. Ualá users can also transfer money for free to other Ualá accounts.

Ualá mobile app review

The Ualá app is easy to use and keeps track of finances simple with an array of tools and features. The features allow users to gain more insight and awareness about the money going out and go into their account, such as automatic push notifications that alert a customer when a transaction has been carried out. The app also features spending categorization that helps users get a closer look at what they are spending their money on, and where they could afford to make some savings. The Ualá app also features the handy instant freeze and unfreeze feature, allowing users to stop their card if it is lost or stolen and allowing them to start using it again if they find it.

Savings and loans

Ualá does not currently offer savings accounts; however, their budgeting features are designed to help users save more money and gain more awareness about their spending.

Ualá is not currently offering loan services. However, they have stated that they intend to provide features in the near future that will allow users to request personal loans and credit cards.

For travel

Ualá users can use their cards outside of Argentina and make foreign transactions. A certain amount of foreign cash withdrawals and transactions are available to users for no extra fee each month. After that Ualá aims to keep fees as low as possible, this will appeal to frequent travelers who are no stranger to the long list of bank fees that appear on statements after a trip abroad.

Ualá review. Conclusion


  • Opening an account is made quick and easy, requiring no paperwork
  • Secure safety features, such as unique user ID and instant freeze and unfreeze
  • Easy-to-use app with helpful budgeting features
  • Real-time spending notifications
  • Spending categorization


  • Fees on cash withdrawals after the first two withdrawals each month
  • No credit or loan options currently
  • Ualá is not a full bank account and does not intend to become one soon 

Ualá offers a useful and practical service for Argentinians to integrate into their personal finances some of the fintech innovations that have proven popular in the rest of the world. The quick app sign-up means it is no extra effort to set up an account and try their handy budgeting tools, and the low-to-no fees will appeal to travelers and those paying over the odds on maintaining their current traditional bank account.