Credit cards with airport lounge access

The best credit cards with airport lounge access come with frequent flyer points, rewards, insurances, concierge service plus reasonable rates and fees. Some of the [...]

POSTED ON January 23, 2020
Is Ripple a real cryptocurrency?

There are lots of cryptocurrencies out there now, all of which have been inspired by Bitcoin, the original crypto. For all its popularity, however, Bitcoin [...]

POSTED ON December 5, 2019
Depositors head for ANZ and Westpac

ANZ Bank and Westpac are attracting the lion‘s share of new deposits according to data released by the banking regulator the Australian Prudential Regulatory Authority [...]

POSTED ON September 2, 2009
Business not satisfied by their bank

Businesses are feeling the burden of the re-rating of their credit facilities and tighter lending criteria, and they are taking it out on their bankers. [...]

POSTED ON September 2, 2009
ANZ and E*trade link up online

ANZ customers with online access can now use a single sign-on to enter their transaction account and jump across to their E*Trade account. E*Trade managing [...]

POSTED ON September 2, 2009
Women in focus at Commbank

The Commonwealth Bank has launched a new program designed specifically to support women in business, called Women in Focus. Head of Women in Focus, Ms [...]

POSTED ON September 2, 2009
RBA keeps rates on hold once again

At its meeting today, the Board decided to leave the cash rate unchanged at 3.0 per cent. Remaining at it's 49 year low, the RBA [...]

POSTED ON September 1, 2009
5 per cent shopper savings at Woolies

Woolworths is offering a five percent discount on purchases made at Woolworths Supermarkets and Woolworths Liquor stores for new Everyday Money credit card customers during [...]

POSTED ON September 1, 2009
ING Direct tops customer satisfaction ratings

ING DIRECT customers are the most satisfied of any bank in Australia according to the latest Nielsen Financial Services Monitor. According to the monitor 76 [...]

POSTED ON September 1, 2009
ANZ’s account fees under scrutiny

ANZ is the last of the big four to make changes to its policy on exception fees. The other three have responded to overwhelming consumer [...]

POSTED ON September 1, 2009
Banks do the MAMBO tango

Me and My Bank Online (MAMBO) is an online payments service for shoppers and consumers that is being developed by the bank owned BPay company. [...]

POSTED ON September 1, 2009
Commbank mobile bank gets 100,000 customers

In the six months since Commonwealth Bank launched its next generation mobile phone banking, the popularity of the channel recently exceeded 100,000 customers logging in [...]

POSTED ON September 1, 2009
Debt agreements unaffordable

Debt agreements, whereby an indebted consumer who can no longer afford the repayments on their loans and credit cards enters into an agreement with creditors [...]

POSTED ON September 1, 2009
Government checks up on bank rate rises

Sources within the major banks say the federal Treasury rang around all major banks last week to check on rumours that they are planning on [...]

POSTED ON August 31, 2009
Rumours of rate rises next week

Rumours and unconfirmed reports persist that at least one of the big four banks will move to raise standard variable mortgage rates next week. The [...]

POSTED ON August 28, 2009
Rates to rise by 3.0 per cent

Official interest rates are expected to rise by three per cent over the next three years said Westpac chief economist Bill Evans. In a report [...]

POSTED ON August 28, 2009
Banks to ensure you can repay your debts

The assistant Treasurer Nick Sherry said yesterday that Australian bank customers and borrowers will get world class credit regulations when the new national credit licencing [...]

POSTED ON August 28, 2009
Young investors are clueless

Young ‘generation Y’ investors have unrealistic expectations about the level of returns they can expect and don’t know how to invest to meet their high [...]

POSTED ON August 28, 2009
The most expensive kids in history

Bankwest's "Gen Ys Still At Home" survey has found that Generation Y (under about 30 years of age) are the most expensive generation to raise [...]

POSTED ON August 28, 2009
Time to spring clean your finances

Aussie executive chairman and founder Mr John Symond said spring was generally a time of new life, renewed motivation and vigour as the cold weather [...]

POSTED ON August 28, 2009
First home buyers want more help

One in five first home buyers are looking to their family to provide the deposit, according to a Bankwest/Mortgage & Finance Association of Australia (MFAA) [...]

POSTED ON August 27, 2009
CUA keeps getting bigger

La Trobe Country Credit Co-operative members voted last week to merge with Credit Union Australia. Chairman of LCCC, Mr Richard Stanistreet, said the merger has [...]

POSTED ON August 27, 2009
Banks say we’re not ready to be fair

The Australian Bankers’ Association (ABA) said the banking industry will not have enough time to review and, where necessary, amend their consumer standard form contracts [...]

POSTED ON August 27, 2009
Your repayments are going up by $4680

Australians have to be prepared for higher interest rates says the man who sets rates, the governor of the Reserve Bank, Glenn Stevens. Financial markets [...]

POSTED ON August 26, 2009
Suncorp suffers as deposits head to big 4

Suncorp says it is at a competitive disadvantage to the major banks because of the structure of the federal government’s bank guarantee and the situation [...]

POSTED ON August 26, 2009
Poor bankrupts to be punished

The Australian government yesterday released proposed reforms to personal bankruptcy law and revealed a decision to back away from some of the tougher talk contained [...]

POSTED ON August 26, 2009
Aussies pay $83 off their card debt

Analysis by the Australian Bankers’ Association (ABA) of Reserve Bank of Australia (RBA) credit card data demonstrates customers are paying down debt and are sensibly [...]

POSTED ON August 25, 2009
Banks demand to know what you owe

The Australian Bankers’ Association (ABA) Chief Executive, David Bell, and ABA Director of Retail Regulatory Policy, Ian Gilbert, yesterday told the Senate Economics Committee that [...]

POSTED ON August 25, 2009
Business banking customers vote for BoQ

There has been a decrease of 5.5% in business customer satisfaction with the four major banks relative to the same period 12 months ago (73%). [...]

POSTED ON August 25, 2009
Investors continue to shun shares

Despite an 18% increase in the S&P ASX 200 to June 2009 from its low in February 2009, the number of people owning shares directly [...]

POSTED ON August 25, 2009
Investors urged to protect themselves

League tables released by the Australian Prudential Regulation Authority highlighting the poor performance of major superannuation funds are yet another reminder to investors of the [...]

POSTED ON August 25, 2009
St George offers 1.1% home loan discount

St George Bank’s Advantage Package home loan deal gives new borrowers a 1.1 per cent discount off the Standard Variable Rate for the first 12 [...]

POSTED ON August 24, 2009
Borrowers head for brokers

Forty one per cent of new home loans are now sold through brokers. Mortgage Choice CEO Michael Russell said the big four banks’ use of [...]

POSTED ON August 24, 2009
Smaller lenders making a comeback

While the big banks still dominate mortgage sales, data from broker Mortgage Choice suggest that smaller institutions may be making a comeback. The broker reported [...]

POSTED ON August 24, 2009
Melbourne auction results stand out

There were 285 residential property auctions held in Sydney on the weekend, with 73 per cent resulting in a sale on the day. Those results [...]

POSTED ON August 24, 2009
Aussies preferring cash to credit

Each adult Australian made, on average, about two credit card purchases per week in June according to the latest statistics from the Reserve Bank. However [...]

POSTED ON August 21, 2009
At last banks take eftpos online

Banks are said to be moving to develop an online Eftpos product called MAMBO - Me And My Bank Online, in response to demands from [...]

POSTED ON August 20, 2009
Six rate rises expected, starting early 2010

Financial markets are expecting that the Reserve Bank may raise rates more than six times, starting early next year. In the August board minutes published [...]

POSTED ON August 19, 2009
ING Direct offers customers something great

ING Direct’s new transaction account, called “Orange Everyday”, will be available to existing ING customers from next month. It has already been rolled out to [...]

POSTED ON August 19, 2009
NSW workers expecting 5% pay rise

Total pay growth over the 12 months to August 2009 rebounded to 4.1 per cent according to the Melbourne Institute wages report, released yesterday. Respondents [...]

POSTED ON August 19, 2009
Frozen mortgage fund withdrawals get bigger

ASIC has announced changes to hardship withdrawals from frozen mortgage funds. These changes expand the circumstances in which operators are able to make payments to [...]

POSTED ON August 18, 2009
ING Direct set to revolutionise banking

ING DIRECT Australia yesterday announced a record net profit after tax of A$141.6 million for the six months to June 30 2009, up A$61 million [...]

POSTED ON August 18, 2009
Be prepared for higher rates says RBA

Homebuyers have to be prepared for higher interest rates says the governor of the Reserve bank, Glenn Stevens. Stevens told a parliamentary hearing that rate [...]

POSTED ON August 17, 2009
Banks discounting by up to 0.7 per cent

Banks are responding to competition in the first home buyer lending market by discounting their interest rates on standard variable mortgages by between 0.5 per [...]

POSTED ON August 17, 2009
Credit card debts hurt homeowners

Seventy one per cent of home owners struggling to repay a mortgage are also carry over unpaid credit card debts according to big mortgage insurer [...]

POSTED ON August 17, 2009
Banks cut loans to first home buyers

Many banks have cut the maximum amount they will lend to first home buyers according to a shadow shopping exercise by Deutsche Bank. Deutsche researchers [...]

POSTED ON August 17, 2009
Houses set to become more affordable

Housing is now much more affordable than it was 12 months ago, despite deteriorating affordability over the last two months. The Housing Industry Association and [...]

POSTED ON August 14, 2009
Aussies saving $463 per month

On average, Australians plan to boost their savings by $100 per month by this time next year according to a survey by St George Bank. [...]

POSTED ON August 14, 2009
Investors coming back to banks

The share prices of Australia’s big banks all surged up yesterday on the back of increased confidence about the industry’s outlook and positive analyst comments. [...]

POSTED ON August 14, 2009
$10,000 exit fee to switch mortgages

Borrowers are being locked in to high interest rate mortgages because exit fees on variable rate mortgages are so high. The average exit fee on [...]

POSTED ON August 13, 2009
We will decide on rates says CBA

Commonwealth Bank chief executive Ralph Norris said yesterday that CBA will raise rates outside of movements by the Reserve Bank of Australia if it deems [...]

POSTED ON August 13, 2009
CBA benefits from branch, netbank upgrades

Commonwealth Bank chief executive Ralph Norris was happy to acknowledge yesterday that the bank had benefited from a “flight to quality” in the banking market, [...]

POSTED ON August 13, 2009
Adopt a banking strategy and save

The Australian Bankers Association recommends that people adopt a ‘banking strategy’. The ABA has produced a series of guides to banking and financial services called [...]

POSTED ON August 13, 2009
ANZ travel card compares well

The ANZ Travel Card is a prepaid Visa card available from ANZ branches for $11. The customer can load with any one of seven currencies [...]

POSTED ON August 13, 2009
ATM fees spark irrational behaviour

Bank fees, like petrol prices, spark irrational behaviour in consumers, a senior bank executive told The Sheet this week. “ATM fees are really hitting a [...]

POSTED ON August 12, 2009
Bankwest limits free ATM access

Bankwest’s deal whereby it pays all foreign ATM fees for its customers is coming to an end. It seems that many Bankwest customers chose to [...]

POSTED ON August 12, 2009
Debt puts 1 in 4 marriages under stress

ING’s International Savings Census, shows 1 in 4 Australian marriages are struggling to survive tough economic times. Australian love lives have been hit hard with [...]

POSTED ON August 12, 2009
Bank fees – $10/month is too much

Generally speaking if you are paying more than about $10 per month in bank fees it may be time to shop around for a better [...]

POSTED ON August 11, 2009
Housing cycle nears peak

There were 65,000 new home loans approved for owner occupiers in June, up 1.4 per cent on the month earlier. It is the ninth straight [...]

POSTED ON August 11, 2009
Commonwealth raises fixed rate home loans

The Commonwealth Bank yesterday announced that it is raising interest rates on its fixed rate mortgage products. The rate charged by the bank for a [...]

POSTED ON August 11, 2009
Queenslanders take to fixed rate loans

Queenslanders are starting to look at fixing their home loans again after more than year of enjoying historically low variable home loan rates. However they [...]

POSTED ON August 11, 2009
Fixing rates is a dangerous game

The gap between variable and fixed rates is at historically high levels. Currently Commonwealth Bank and NAB are offering standard variable mortgage rates of 5.74 [...]

POSTED ON August 11, 2009
Huge mortgages now the norm

The average new mortgage lodged in Australia rose to $354,000 in July - the highest figure on record, according to AFG, Australia’s largest mortgage broker. [...]

POSTED ON August 10, 2009
Investors flocking back to property

Australia’s biggest mortgage broking group, AFG is reporting that the number of loans issued to property investors is rising fast. AFG data confirmed the trend [...]

POSTED ON August 10, 2009
Sydney, Brisbane auction results improving

Almost 70 per cent of 248 residential properties put up for auction in Sydney on Saturday sold on the day. That result was an improvement [...]

POSTED ON August 10, 2009
UBank promises service

Gerd Schenkel, General Manager UBank, says the typical customer of the online banking brand owned by NAB is a highly engaged, high net worth individual [...]

POSTED ON August 7, 2009
Aussies look to fix rates

Aussie Home Loans has recorded a dramatic rise in the number of customers looking to fix rates as the Reserve Bank of Australia has indicated [...]

POSTED ON August 7, 2009
Don’t get fees? Get on the phone

Bank fees are disclosed in the terms and conditions of the documents you sign when you open an account with your bank. You can also [...]

POSTED ON August 7, 2009
Parents confused by tax returns

The fifty per cent education rebate, overseas investment income, dividends, rental properties, car and uniform expenses and interest are the main areas where taxpayers are [...]

POSTED ON August 7, 2009
CommBank slashes penalty fees

The Commonwealth Bank today announced it will dramatically reduce exception (penalty) fees across a range of personal and business transaction accounts, as well as implementing [...]

POSTED ON August 6, 2009
ANZ thinking about penalty fees

ANZ Bank is working on a restructure of its fees and penalties said CEO Mike Smith yesterday. In the last week all three other big [...]

POSTED ON August 6, 2009
ANZ says we will raise rates

ANZ chief executive Mike Smith told business leaders yesterday that banks may have to act independently of the Reserve Bank and raise interest rates themselves [...]

POSTED ON August 6, 2009
Woolies card falling behind

HSBC Australia’s newly appointed chief executive Paulo Maia said he was happy with the progress of the bank’s credit card joint venture with Woolworths, dismissing [...]

POSTED ON August 6, 2009
CBA not proud of Storm loans

Commonwealth Bank says its’ staff were pressured by former colleagues who defected to go and work at failed Townsville based financial planning firm Storm Financial [...]

POSTED ON August 6, 2009
House prices and shares up

Median house prices surged up 4.2 per cent in the June quarter, the biggest rise since the boom of 2003, according to the Australian Bureau [...]

POSTED ON August 5, 2009
Interest rates on hold – for now

The Reserve Bank of Australia yesterday decided to leave the official cash rate unchanged at three per cent. Economists are interpreting the Reserve Bank’s statement [...]

POSTED ON August 5, 2009
RBA says steady as she goes

At its meeting yesterday, the Reserve Bank Board decided to leave the cash rate unchanged at 3.0 per cent. Economic conditions in Australia have been [...]

POSTED ON August 5, 2009
St George cuts fees across the board

Effective 1 October 2009, St.George will reduce all its exception fees to $9. This includes account payment honour fee, outward dishonour fees and credit card [...]

POSTED ON August 5, 2009
Rates must rise says government

Interest rates can not stay low forever said a senior government minister yesterday. Financial Services minister Chris Bowen said he understood Westpac’s decision to push [...]

POSTED ON August 4, 2009
Scrap the guarantee says ANZ

ANZ Bank says the government should end the government guarantee on retail deposits up to one million dollars and replace it with a financial claims [...]

POSTED ON August 4, 2009
Fee free ING wants to take on big 4

ING says while the big banks are scrapping penalty fees, its’ new transaction account will go one step further and scrap almost all bank fees. [...]

POSTED ON August 4, 2009
Lending up, deposits down at HSBC

HSBC may be doing better than most other foreign banks in the local lending market. The bank reported growth in home loans of 11 per [...]

POSTED ON August 4, 2009
Westpac slashes penalty fees to $9

From 1 October 2009, Westpac will reduce all its penalty fees to $9. This includes account overdrawn fees, outward dishonour fees and credit card missed [...]

POSTED ON August 3, 2009
Auctions going out of fashion in Sydney

The auction clearance rate in Sydney improved this week with 73 per cent of properties put up for auction on Saturday selling on the day. [...]

POSTED ON August 3, 2009
Banks delaying mortgage approvals

Banks are taking months to approve home loans and putting home buyers at risk of losing their deposits and missing out on the home of [...]

POSTED ON August 3, 2009
Savers withdraw their cash

Household deposits held in the banking system fell around $2.5 billion, to $427 billion, in the month of June 2009, Australian Prudential Regulation Authority data [...]

POSTED ON August 3, 2009
Bank funding gets easy again

Australian banks raised almost A$6.0 billion in international debt markets last week, most of it in the US and none of it guaranteed by the [...]

POSTED ON August 3, 2009
Westpac/St George have highest penalty fees

The three other major banks are under increasing pressure to match NAB’s surprise move this week and scrap their highly unpopular and contentious penalty fees. [...]

POSTED ON July 31, 2009
Mortgage insurance claims up

Increased lending activity, particularly among the first home buyer segment, is producing a pick up in business at Genworth Lenders Mortgage Insurance in Australia and [...]

POSTED ON July 31, 2009
Rural Bank to use Bendigo branches

Elders Rural Bank had strong deposit flow for the 2008/09 year, and at June 30 total deposits of $3.7 billion exceeded loans. Elders Rural has [...]

POSTED ON July 31, 2009
Farmers shy away from debt

Elders Rural Bank managed less than one per cent growth in its loan book in the year to June. With good weather and commodity prices [...]

POSTED ON July 31, 2009