Citibank to face court over $40 fees

Four more banks will have to respond to class actions over penalty fees on common bank accounts. Law firm Maurice Blackburn said on Friday that [...]

POSTED ON December 19, 2011
Melbourne home values crash in 2011

Melbourne's median house price has lost $50,000 this year after peaking at $601,000 last December - an 8.3 per cent drop according to the Real [...]

POSTED ON December 19, 2011
Mosman still Australia’s top property market

Point Piper in Sydney's eastern suburbs recorded the highest median sales prices for both units and houses, while Brewarrina in North Western Australia was found [...]

POSTED ON December 16, 2011
ANZ eStatements hacked and offline

ANZ says it could take several weeks to fix the disabled eStatements function of its internet banking. A security magazine alerted ANZ to a technical [...]

POSTED ON December 16, 2011
Upset CBA customers told to call bank

CBA ATMS are working again after a service disruption overnight but the system failure has angered customers. "NetBank, ATM and EFTPOS services have been restored. [...]

POSTED ON December 15, 2011
Non-bank lenders get most complaints

Non-bank lenders continued to top the list of disputes over mortgages according to a report from the Financial Ombudsman Service. GE Money was the worst [...]

POSTED ON December 13, 2011
Greater, NAB & online lenders make splash in 2011

In the mortgage market, Greater Building Society, spruiked by Jerry Seinfeld, has been making waves with big rate cuts. Internet sites loans.com.au, www.LowerYourRates.com.au and www.betteroption.com.au [...]

POSTED ON December 12, 2011
New responsible lending rules explained

The National Consumer Credit Protection Act has imposed responsible lending obligations on lenders and their credit representatives for the first time. The aim is to [...]

POSTED ON December 9, 2011
Property buyers are downsizing

According to research conducted by Bankwest, 38 per cent of home approvals were for medium density dwellings over the past year. The bank said this [...]

POSTED ON December 7, 2011
Travelex improves cash passport card

Travel money specialist Travelex has relaunched its foreign currency pre-paid card, Cash Passport, with new features and sharper pricing. Cash Passport is now a multi-currency [...]

POSTED ON December 7, 2011
BoQ and ME Bank first to cut rates

Bank of Queensland and ME Bank both announced cuts of 25 bps. These were the only rate reductions publicised late yesterday after the RBA announced [...]

POSTED ON December 7, 2011
Fraudsters hack CBA Netcode

Fraudsters are increasingly using social engineering techniques to steal mobile phone numbers and intercept their owners' online banking verification codes. The scam is sophisticated, as [...]

POSTED ON December 7, 2011
CBA, NAB & Westpac fees to be challenged

Litigation funder IMF (Australia), which is running the ANZ penalty fees case, together with law firm Maurice Blackburn, said in a media release that it [...]

POSTED ON December 7, 2011
Westpoint investors get $1.4 million

A group of investors in the failed Westpoint Group stand to receive over $1.39 million in compensation in a settlement reached by ASIC against Queensland [...]

POSTED ON December 7, 2011
Best restaurant gift card launched

The Australian gift card market is estimated to be worth close to $2 billion and is growing at 20 per cent per year. "I can [...]

POSTED ON December 5, 2011
Westpac wants to lend to big farmers

Westpac has launched an aggressive campaign to win the banking business of Australia's 2500 biggest farmers. Graham Jennings, head of Westpac's agribusiness and regional commercial [...]

POSTED ON December 1, 2011
IMB has top savings account rate

According to Infochoice, 55 institutions cut their at-call rates in November. While the majority cut their rates in line with the 25 basis point reduction [...]

POSTED ON December 1, 2011
Citi & Mystate have best 90day term deposits

Infochoice figures show that more than 30 institutions cut their term deposit rates over the past month. Reductions in 90-day deposit rates were in the [...]

POSTED ON December 1, 2011
Amex travel cards at Aussie Post

American Express is putting its own staff into Australia Post outlets to operate standalone Amex service counters. The first of the new Amex kiosks opened [...]

POSTED ON November 30, 2011
HSBC has 24hr forex for world citizens

HSBC Bank Australia has launched a 24-hour foreign exchange trading service with live pricing. The service, Get Rate, is for retail and small-business customers. HSBC [...]

POSTED ON November 30, 2011
The Rock to get more products from MyState

MyState will acquire The Rock, subject to final court approval on Thursday, after shareholders voted in favour of the deal yesterday. More than 96 per [...]

POSTED ON November 29, 2011
CBA awaits Apple approval of Kaching

Apple is dragging the chain on the release of the Commonwealth Bank's Kaching iPhone app. Kelly Bayer Rosmann, CBA's executive general manager of business products [...]

POSTED ON November 29, 2011
NAB has lowest rates for farm loans

National Australia Bank (NAB) has the most attractive base lending rate for agribusiness. Just five financial institutions in the agribusiness loan market have dropped their [...]

POSTED ON November 28, 2011
28 Degrees offers great deal for travellers

Travellers are regularly being charged $10 to withdraw their own money from their debit or credit cards at international ATMs. There's not much Australian travellers [...]

POSTED ON November 28, 2011
Banks fail to cut rates on credit cards

Only four of the 200-plus credit cards on the market have reduced their annual interest rate by at least 0.25 percentage points in line with [...]

POSTED ON November 28, 2011
Christmas accounts can save your holidays

It is too late to take full advantage of a Christmas savings account for this festive season but these specially branded savings accounts might be [...]

POSTED ON November 15, 2011
Bankwest passes on RBA rate cut

Bankwest has followed parent company CBA in reducing its rates on all its variable rate home loan products by 25bps. The move is set to [...]

POSTED ON November 8, 2011
HSBC & ING Direct accounts give cash back

In June, HSBC launched its Day to Day Account, which has no account-keeping fees and a $10 monthly “feebate” for customers who deposit at least [...]

POSTED ON November 4, 2011
GoMoney & Kaching lead in mobile banking

CBA isn’t the first bank to launch a mobile-to-mobile payments service - that was pioneered in Australia by ANZ, which launched the goMoney iPhone app [...]

POSTED ON October 26, 2011
Aussie shoppers love to tap and go

MasterCard Australia has announced that more than 1 million contactless PayPass transactions were recorded during the month of August. There are 7 million PayPass enabled [...]

POSTED ON October 24, 2011
Sophisticated term deposits working for Westpac

Westpac is betting that investors in term deposits will become more sophisticated in their use of the product and start to look for some diversification [...]

POSTED ON October 14, 2011
Frequent flyer points worth about 1 cent

The Australian Consumer Association has slammed Australia's frequent flyer schemes, saying that most passengers would be better off just buying the cheapest flights on offer. [...]

POSTED ON October 13, 2011
Teachers to vote on mutual bank plan

Teachers Credit Union has plans to rebrand as “Teachers Mutual Bank”, subject to member approval. The credit union will put its proposals to its members [...]

POSTED ON October 12, 2011
Rates on hold until November

The Reserve Bank of Australia left official rates on hold at 4.75 per cent on Tuesday. Australian Chamber of Commerce and Industry economic policy director [...]

POSTED ON October 5, 2011
CUA and ING DIRECT slash fixed rates

Fixed mortgage rate cutting went into overdrive yesterday, with announcements by St George Bank, ING Direct, CUA and Firstfolio. CUA issued a press release saying [...]

POSTED ON September 30, 2011