UBank a winner for NAB

Ian Rogers
NAB

The letter U is now pretty much the sole preserve of National Australia Bank, at least in the realm of trade marks relating to financial services.

NAB has prevailed in a trade mark dispute with New U Life Corporation, a dietary supplements and multi-level marketing services company based in the United States.

New U Life filed a trade mark application for UWALLET in 2021, which NAB opposed.

NAB has used and registered what the Delegate of the Registrar of Trade Marks described as “a number of U-formative marks” including UBANK, USPEND, USAVER and UHOMELOAN.

“In all the circumstances and given NAB’s reputation in UBank, I believe that consumers would be caused to wonder whether New U Life’s services offered under the UWALLET trade mark are connected to NAB” the delegate wrote in her decision. 

“I am satisfied that there is a real, tangible likelihood of deception or confusion occurring from use of the UWALLET trade mark in relation to the services claimed.”

Home lending attributed to UBank NAB put at $13.4 billion at September 2204 in its full year results last week, equal to four per cent of the bank’s mortgage book.

UBank’s deposit balances were $19.7 billion.

Ubank has around 850,000 customers which compares more than one million now for Bendigo and Adelaide Bank’s Up.