Cash vs card – can money transmit coronavirus?

The Coronavirus COVID-19 pandemic has spread from China to 159 countries and 185,000 confirmed cases worldwide. The virus can remain active and infectious on surfaces [...]

POSTED ON March 18, 2020
How to send money overseas

Western Union vs bank transfer vs PayPal If you have friends or family overseas, you may want to send them money at some point, like [...]

POSTED ON February 10, 2020
How to compare NBN plans

Firstly, what is the NBN? The NBN is the National Broadband Network, is a government initiative to bring high–speed broadband to most of Australia’s population. [...]

POSTED ON January 30, 2020
What is Facebook Pay?

It makes paying and sending money as easy as inserting an emoji into a text message. Facebook’s Libra cryptocurrency project may be struggling but another [...]

POSTED ON November 26, 2019
Cash back shopping apps compared

Which cashback site is best? In Australia cash back shopping services are rising in popularity. And why not? We all like buying shiny new things [...]

POSTED ON November 15, 2019
Weekly rates update 23 October 2019

In your 60-second financial news update this week, The Reserve Bank is not expected to cut rates again in November but is expected to cut [...]

POSTED ON October 24, 2019
Could Australia get negative interest rates?

The world economy is in totally uncharted territory. Last week central bankers from around the globe met in Jackson Hole, Wyoming, USA and tried to [...]

POSTED ON August 29, 2019

The Big Reveal: 6 ways to PAY for a home makeover By Jason Bryce Australia has home reno fever. The Block and House Rules are [...]

POSTED ON August 26, 2019
Is Scott Morrison banning cash?

The Morrison government is proposing a radical ban on business cash transactions over $10,000 to fight the ‘black economy’ and tax avoidance. Business owners will [...]

POSTED ON August 9, 2019
Expect more rate cuts in 2019

RBA Governor Philip Lowe and the board of the RBA are being very clear with their messaging at the moment – expect more rate cuts [...]

POSTED ON July 18, 2019
How will we buy things in 2025?

The world of fintech is moving quickly—so quickly, that some nations are already talking about becoming cashless societies in the next five years. Fintech, which [...]

POSTED ON June 28, 2019
How to save more – the easy way

Eating out a little less often and diverting the $120 a month into a savings account earning 5 per cent interest will grow to $19,000 [...]

POSTED ON September 17, 2012
NAB signals a new higher rates policy

National Australia Bank has warned that future rate cuts may not be passed on in full. Chairman Michael Chaney yesterday defended the banks' robust profitability [...]

POSTED ON December 16, 2011
Most Aussies don’t want mobile payments

60 per cent of Australians aren't willing to use their mobile phones as digital wallets, according to KPMG, compared with 34 per cent globally. Only [...]

POSTED ON December 13, 2011
Credit unions grabbing more marketshare

Quarterly statistics released by APRA show that credit unions, building societies and mutual banks grew by 8.7% for the year ended 30 September 2011, higher [...]

POSTED ON November 30, 2011
How to complain about your bank

The Financial Ombudsman Service and the Credit Ombudsman Service Limited are external dispute resolution schemes for people unhappy with the conduct of their financial institution. [...]

POSTED ON August 8, 2011
Banks to slug customers for IT upgrades

Bank customers will pay higher fees as their banks invest in more reliable mission-critical systems to replace legacy technology said IBRS analyst Jorn Bettin. “The [...]

POSTED ON May 10, 2011
Westpac tops for social responsibility

Westpac Bank has top-scored in an international ratings system which ranks more than 2,300 public global companies and how they address environmental, social and governance [...]

POSTED ON April 7, 2011
Online banking fraud getting worse

More than 50 Australians a week are falling victim to online banking fraud. Bogus bank email passwords have gone through the roof, an Australian Competition [...]

POSTED ON April 6, 2011
Visa to launch mobile phone payments

Samsung and Visa announced plans to introduce mobile payments using the Samsung Olympic and Paralympic Games mobile handset. Before and during the London Olympic Games, [...]

POSTED ON April 5, 2011
Exit fee ban will hurt smaller lenders

More industry experts have lashed out at the government’s drafted exit fee ban under the National Consumer Credit Protection Act. Mortgage Choice chief executive officer [...]

POSTED ON February 18, 2011
Switching banks is too hard for most

It is too difficult or costly to change banks for most people to bother, according to Essential Research. Of those surveyed, 37 per cent of [...]

POSTED ON November 26, 2010
Increase in financial risk for families

The period of excessive credit and leverage preceding the GFC saw working families take on more and more debt. While household indebtedness has eased since [...]

POSTED ON October 7, 2010
National ATM networks needed for competition

The competition regulator yesterday gave further endorsement to the threading together of automatic teller machine networks in order to support competitive forces in retail banking. [...]

POSTED ON July 30, 2010
Most customers like their big bank

ANZ has ranked number one of the major four banks in customer satisfaction for the past six years, according to Roy Morgan Research. ANZ also [...]

POSTED ON July 15, 2010
Bank websites speed tested

Westpac’s website response times have blitzed the competition - proving 12 times faster than NAB’s and 100 times faster than RaboPlus’ Australian website. Releasing the [...]

POSTED ON June 17, 2010
Aussies still wary of credit

Despite increasing confidence about the economy, Australians are still reluctant to increase their credit card debts. The average credit card account balance increased by 1.9 [...]

POSTED ON April 19, 2010
Have you checked your credit report?

Nearly 86 per cent of Australians do not know what their credit report contains according to credit reporting agency Dun & Bradstreet. Rival credit reporting [...]

POSTED ON February 11, 2010
Sydney rents to hit $500

Average Sydney rents are likely to increase by at least double last year’s rate to approach the $500 per week level for houses. After a [...]

POSTED ON January 13, 2010
Customers like CBA, not NAB

Commonwealth Bank had the highest increase in satisfaction among the big five banks, according to Nielsen, with a 3.7 point increase over the quarter. Nielsen [...]

POSTED ON November 27, 2009
Farmers and bankers defaulting on ANZ loans

Agribusiness, consumer, property and smaller financiers were the most problematic categories of borrower for ANZ in the half year to September 2009, the bank’s latest [...]

POSTED ON November 26, 2009
Banks need to come clean over Storm

The parliamentary committee investigating the failure of the Queensland based financial planning firm Storm Financial says all banks that lent to Storm clients have to [...]

POSTED ON November 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
We need a ‘people’s bank’

Six influential economists have written a open letter to the government calling for the establishment of a basic 'people's bank' to break the market stranglehold [...]

POSTED ON July 8, 2009
ANZ employs small biz people

ANZ is expanding its network of small business specialists by employing 130 additional small business bankers in branches and business centres around Australia. The majority [...]

POSTED ON July 3, 2009
Business breakdown no more common

Business insolvencies are an increasingly frequent item in the daily noise of media reporting or so it would seem, but official data on the incidence [...]

POSTED ON June 5, 2009
Beware Visa, MasterCard tax refund offers

The Tax Office is warning people about another email scam being circulated that claims to offer a refund from the Tax Office. The email asks [...]

POSTED ON February 5, 2009
Westpac profits and bad debts up

Westpac announced a six per cent rise in cash profit to $3.73 billion and a 93 per cent increase in provisioning for bad debt to [...]

POSTED ON October 31, 2008
NAB launches UBank brand

National Australia Bank announced the establishment of UBank, a new direct channel offering, focused on savings products. As the first brand in NAB's Star Direct [...]

POSTED ON October 2, 2008
Outsourced personal info to get safeguards

The Australian Law reform Commission has recommended that if an organisation in Australia transfers personal information about an individual to a recipient outside Australia, the [...]

POSTED ON August 12, 2008
NAB panders to Wayne Swan

National Australia Bank is pandering to the government in launching a home loan with no early exit, discharge or settlement fees, says banking industry newsletter [...]

POSTED ON July 22, 2008
No relief from rocketing rents

Rents have risen by about 7 per cent over the past year but are expected to rise further with the building cycle not expected to [...]

POSTED ON April 29, 2008
Mining boom enriches us all

Terry Mcrann does not believe the market reports of a two speed economy with resources driving both Western Australian and the remaining states are languishing. [...]

POSTED ON April 11, 2008
Mutuals cheaper than big banks

The major banks have increased their variable mortgage rates by between 0.29 and 0.35 of a percentage point, but only eight out of 146 credit [...]

POSTED ON March 17, 2008
Broker settles but will be closely watched

The broker and margin lender Tricom will be under daily supervision by the ASX after failing to settle trades on Tuesday. While the firm did [...]

POSTED ON January 31, 2008
Financial services sector keen for reforms

The incoming Labor government is expected to launch a Wallis-style inquiry into the financial sector. Senator Nick Sherry has been Labor's spokesman on financial services [...]

POSTED ON November 26, 2007
Case builds for rate rise next week

Rising oil prices are adding to pressure on the Reserve Bank to increase the official cash rate when it meets next week. With tensions between [...]

POSTED ON October 29, 2007
Jobs high may bring rate rise nearer

The news of unemployment slipping to a new 32-year low is further good news for the economy and John Howard, but not so good for [...]

POSTED ON October 12, 2007
HBOS aims to double staff

One measure of the growth aspirations of HBOS in Australia is that the bank plans to double staff levels in Australia over the next five [...]

POSTED ON December 11, 2006
Money Facts issue 4, now available

The fourth edition of Infochoice's new online magazine has launched - just for members. 'Money Facts' is full of our latest tips and comparisons on [...]

POSTED ON November 16, 2006
Retail banking ‘flying’ at ANZ

ANZ chief John McFarlane said the retail banking business in Australia is the stand out feature of the half year result, and that this part [...]

POSTED ON April 28, 2005
Scant returns from super-secure super

Research by Cannex shows that Retirement Savings Accounts, a style of secure but low return superannuation investment, provide very low returns. Cannex found that of [...]

POSTED ON March 14, 2005
Owen says Axa will honour takeover promise

Axa Asia Pacific chief executive Les Owen said he expects Axa’s French parent, which owns 51.7 per cent of the company, to respect a 1995 [...]

POSTED ON November 1, 2004
Value seen in ability to pay dividends

Some of Australia's largest companies have returned billions of dollars to shareholders this reporting season reinforcing fund manager views that investors will increasingly look to [...]

POSTED ON August 23, 2004
Relief at 7-year high for super

Superannuation funds returned to positive earnings last financial year with the median manager set to return 13.8 per cent after tax and fees, according to [...]

POSTED ON July 2, 2004
Banks’ crisis plans weak: survey

Almost one third of Australia's banks and credit unions are ill-prepared for an IT disaster in the form of major virus attacks, hacking, fraud or [...]

POSTED ON June 3, 2004
Bendigo Bank builds community telcos

Bendigo Bank will launch a telecommunication venture using the same community-based model as its bank business. MD Rob Hunt said up to 40 communities around [...]

POSTED ON April 19, 2004
Regional banks closing the gap

Australia's regional banks recorded their third consecutive year of double-digit growth in 2003, total assets rising 14.5 per cent to $128 billion. A review of [...]

POSTED ON March 31, 2004
Broker downgrades three big banks

Citigroup Smith Barney has downgraded two major banks and a regional from Buy to Hold and advised investors to take profits following the recent strong [...]

POSTED ON March 19, 2004
Foiled bid puts Ziggy in hot seat

Telstra's CEO Ziggy Switkowski and chairman Bob Mansfield were forced yesterday to defend their proposal to take over John Fairfax Holdings. The plan was to [...]

POSTED ON February 19, 2004
Seven plans $275m buy-back

The Seven Network has announced a $275 million share buy-back which would see the company repurchase up to 50 million of its 259 million shares. [...]

POSTED ON October 27, 2003
Rate rise still on before Xmas

A pre-Christmas rise in official interest rates remains likely, despite the release of a benign inflation figures. On balance, an increase of 0.25 per cent [...]

POSTED ON October 24, 2003
Profit warnings rise: Ernst & Young

Ernst & Young says profit warnings from listed Australian companies are at record levels with between 80 to 90 warnings expected during the second half [...]

POSTED ON February 7, 2003
Call for SME bank fees review

Victoria's Small Business Minister, Marsha Thomson, says that bank fees to small businesses are in need of a federal government review. She said also that [...]

POSTED ON November 6, 2002
Household wealth drops to risky levels

New data from the Australian Bureau of Statistics reveal a sharp downturn in households' financial positions. Falling share prices reduced household assets by $13 billion [...]

POSTED ON October 1, 2002
Wealthiest 20% hold half the wealth

The nation's richest people are 40 times wealthier than the poorest, a report by the National Centre for Social and Economic Modelling shows. Twenty per [...]

POSTED ON September 20, 2002
ATO tough on ‘professional trader’ definition

Those who claim share trading as their profession rather than just being an investor must convince the Australian Taxation Office before they can claim trading [...]

POSTED ON September 12, 2002
Victorians fear dummy bids

Seventy-seven per cent of prospective home buyers at auctions are afraid of being duped by dummy bidding, a Consumer Affairs Victoria survey has revealed. More [...]

POSTED ON August 20, 2002
Analysts upgrade Bendigo Bank

Three investment analysts have upgraded their recommendations on Bendigo Bank following the bank's profit announcement. On Monday, Bendigo reported a record annual profit of $48.8 [...]

POSTED ON August 15, 2002
Rising credit checks catch borrowers

Businesses are using credit reporting agencies and debt collectors more frequently, sometimes for just minor debts, which can lead to consumers being barred from loans [...]

POSTED ON July 10, 2002
Challenge to new financial laws

The ALP has made a last-minute challenge to the Financial Services Reform Act, passed last year, following complaints by the Australian Consumers' Association and other [...]

POSTED ON June 20, 2002
Sale of Medibank – on the cards

The Federal Government will investigate selling the publicly-owned health insurer Medibank Private. The nation's largest health insurer, with a 27.4 per cent market share, has [...]

POSTED ON May 6, 2002
Internet sales hit travel agents

The move to using the Internet for reservations is putting the squeeze on travel agents, as competing airlines move to cut out the middle man. [...]

POSTED ON March 26, 2002
New strategies pay off for IMB

A record half-year profit of $5.4 million is helping Illawarra-based IMB shed its image as a staid financial institution which posed little threat to the [...]

POSTED ON January 30, 2002
Setback for Ansett jet lease plan

The chance of Ansett jets making an early return to the skies to relieve the domestic passenger overload have receded after setbacks yesterday. Discussions collapsed [...]

POSTED ON September 21, 2001
Ansett planes to fly by Thursday?

Negotiations between Qantas and Ansett's administrator are dragging on, delaying plans to return Ansett planes to the air. Qantas is planning to operate lease 10 [...]

POSTED ON September 21, 2001
Chaos continues at Spanish airport

PALMA, Majorca -- Hopes of an early end to the chaos caused by a coach strike in the Balearic islands have been dashed after the [...]

POSTED ON July 4, 2001
Airline summit called for the bush

The NSW Government has called a regional airline summit next month after the demise of rural flight operator Country Connections. Rural Affairs Minister Harry Woods [...]

POSTED ON June 5, 2001
Virgin set sights on NZ

Virgin Blue lodged an appication yesterday for international traffic rights to operate between Australia and New Zealand, as well as rights to operate within New [...]

POSTED ON May 17, 2001
Rate cut imminent, but 0.25 only

Better-than-expected retail figures out today should mean that the widely-expected official interest rate cut by the Reserve Bank this week is confined to 0.25 percent [...]

POSTED ON April 4, 2001
Perpetual gets fund manager of the year

Morningstar has released its Fund Manager of the year Awards, the overall winner being Perpetual Investments. The awards are based upon qualitative and quantitative analysis [...]

POSTED ON February 21, 2001