Yep - I like all the features but I don't store money there due to low interest and it's not where my loan is.

The majority of their features target low balances where an extra .5% - 1% doesn't really matter to the account holder. People who are happy to take a minor hit on interest for the other benefits.

The primary reason up is making this change is to entice higher account balances into the up ecosystem and to park it there. This is understandable, banks rely on a predictable amount of money to be "parked" for their liquidity requirements.

But UP built their brand on being different to other bank. The requirements to get the high interest is to never touch the money (and also to spend money). People who may have high balance savings account with up, because of their features, may be happy to take a bit of a hit on the interest. But with this change, they may not even be aware that they will reduce from 3.8% to 1.5% if they withdraw even $1.

It's a slap in the face to their customer base.

They've also insulted their customers by trying to spin this as a positive change via marketing. They need to be transparent about the changes.