Shopping with Cash vs Card

Who is REALLY getting the better deal? Aussies love tapping their phone or their card instore or online. And Aussies hate ATM fees for withdrawing [...]

POSTED ON January 17, 2020
Five easy things you can do today to get richer

Building wealth needs patience, work, diligence and knowledge. InfoChoice can help you get your own everyday banking and finances in order by helping you compare [...]

POSTED ON January 15, 2020
Do I need car insurance?

Yes you do! And you need to understand the different types of car insurance. Compulsory Third Party insurance is compulsory in Australia for all registered [...]

POSTED ON January 13, 2020
What is a neobank?

The digital revolution of the last decade or so has reached into banking, with many existing banks offering online–only accounts and products. More recently, Australia [...]

POSTED ON January 8, 2020
Best New Year’s Resolutions for 2019 / 2020

Australia’s top New Years Resolutions relate to improving health, finances, relationships, home and careers. New Years resolutions are a common tradition in Australia and other [...]

POSTED ON January 6, 2020
How to donate to help bushfire victims

Do you want to donate money or goods or services to help out people and families fighting bushfire in Australia? This is a page of [...]

POSTED ON January 6, 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
Has ING cut interest rates?

ING is one of Australia’s most popular lenders, outside of the big four banks. ING is also a popular bank with savers and the ING [...]

POSTED ON October 9, 2019
Which country has the lowest interest rates?

What are interest rates around the world? In 2019, interest rates around the world are trending lower. Since the Global Financial Crisis in 2008, many [...]

POSTED ON October 9, 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
Top 10 credit cards in Australia

*Disclaimer: Citi credit card product names have changed effective 20 Jan 2020 as following: Citi Clear Platinum is now Citi Clear; Citi Rewards Platinum is [...]

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
NAB to change products and services

National Australia Bank plans to cut the number of products offered and the remaining products will also be simplified. Branches will be re-configured and customer [...]

POSTED ON March 13, 2013
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
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
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
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
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
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
NAB, ANZ send jobs to India

National Australia Bank has denied claims by the Finance Sector Union that it is planning to send 628 jobs offshore. "We do not have a [...]

POSTED ON May 13, 2009
Swan set to raid our wallets

All Australians will feel some pain from the federal government's budget to be handed down next week. The treasurer Wayne Swan is looking for revenue [...]

POSTED ON May 7, 2009
ATO says no receipts needed for small donations

The Tax Office announced a practical approach to ensure those donating to help the victims of the Victorian bushfires and Northern Queensland floods can do [...]

POSTED ON February 17, 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
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
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
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
UBS prefers infrastructure stocks

UBS Wealth Management advised high net worth clients to favour infrastructure stocks because forecast returns looked more attractive. UBS argued infrastructure stocks were more likely [...]

POSTED ON October 5, 2006
No interest and $4 monthly fee on BOQ account

Bank of Queensland said its "reverse charges" transaction account would pay a $2 rebate each month to customers with balances in excess of $2000. The [...]

POSTED ON October 19, 2005
Mortgage Choice revenues balanced

Home loan broking franchise Mortgage Choice will earn revenues on a more balanced basis this year. For the first time, revenue from trailing commissions, on [...]

POSTED ON July 11, 2005
Funds taxed to recover cost of two super bailouts

Members of all superannuation funds will wear the cost from the bail out of Commercial Nominees of Australia and the Australian Independent Superannuation Fund. For [...]

POSTED ON June 3, 2005
Unclaimed funds pile up in Canberra

More than 400,000 Australians have funds locked up in old bank accounts, forgotten insurance policies or shares that they do not know they own. The [...]

POSTED ON May 13, 2005
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
St George owns up to margin pressure

St George Bank forecasts for double-digit earnings growth in the current year and in 2005, but also warned of some pressure on interest margins. Chief [...]

POSTED ON October 6, 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
Surge in phoney bank e-mails

The number of fraudulent e-mails targeting online bank customers leapt 750 times worldwide from last September to January, according to MessageLabs, a computer security company. [...]

POSTED ON April 21, 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
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
ASIC to scrutinise companies direct

The Australian Securities and Investments Commission will examine the financial statements of 440 ASX-listed companies as part of a crackdown on accounting standards compliance. The [...]

POSTED ON August 5, 2003
ID theft ‘used in GST fraud’

Crime syndicates are using stolen tax file numbers to make false claims for GST repayments with some investigators claiming that up to 10 per cent [...]

POSTED ON July 21, 2003
Exporters to outperform domestic stocks

Fund managers believe that Australian stocks with international exposure are undergoing a moderate rally that may last until early next year but stocks with a [...]

POSTED ON December 3, 2002
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
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
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