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

Sometimes, when you’re looking for the best credit cards on offer, you can get tied up with all the different types, perks, interest rates and [...]

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
Heritage Building Society to become a bank

Heritage Building Society will follow the fashion and adopt bank branding from late this year, assuming members of Australia's largest mutual deposit-taking entity agree. The [...]

POSTED ON September 12, 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
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
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
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
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
Troubled Virgin gets lifeline

Virgin Money Australia has been given a two million cash injection by its parent company Virgin UK and part owner Macquarie Group. At March 31 [...]

POSTED ON July 30, 2008
Non-bank lenders seek shelter

Financing new mortgages is not going to get easier any time soon for non-bank lenders with FirstMac predicting that it will not be able to [...]

POSTED ON April 28, 2008
High dollar hurts profits

The continued rise of the Australian dollar, which hit a 24-year high of US94 cents yesterday, is eating into company profits. Macquarie Research has estimated [...]

POSTED ON February 29, 2008
Bankruptcy rates climbing

The numbers of personal bankruptcies in the quarter to December 2007 were up by 3 per cent on the previous quarter and 6.6 per cent [...]

POSTED ON January 22, 2008
US job figures lead market down

The latest jobs figures out of the US have added further fuel to concerns that the world's largest economy is slipping into recession. Only 18,000 [...]

POSTED ON January 21, 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
Acquisition tax only applies to new deals

The federal government has backed down on the timing of a change in the tax treatment of corporate takeovers after experts warned that, if effective [...]

POSTED ON October 17, 2007
Electronic conveyancing scheme deserted

The major banks have pulled out of a Victorian pilot scheme for an electronic conveyancing system called ECV, instead favouring a national system. The banks [...]

POSTED ON September 3, 2007
Banking policy prehistoric

Outgoing Westpac chief David Morgan has again spoken out against the federal government's four pillars policy saying that it is a "woolly mammoth, dug from [...]

POSTED ON July 27, 2007
ANZ appoint outsider for CEO

The long running search for the successor to outgoing ANZ Banking Group CEO John McFarlane is over, with the bank appointing an external overseas candidate [...]

POSTED ON June 13, 2007
ANZ leads indigenous job campaign

The ANZ will lead the campaign for mainstream corporate jobs for indigenous people. Tomorrow the ANZ will unveil plans to recruit at least 300 young [...]

POSTED ON April 17, 2007
ANZ in Tax Office good books

ANZ Bank said it reached a "forward-compliance" agreement with the Australian Taxation Office designed to reduce the need for and impact of tax audits. The [...]

POSTED ON October 2, 2006
ATO audits returning overseas workers

The Australian Tax Office will send letters to 4,500 people this year who have returned from overseas with income earned offshore. About 1,080 of those [...]

POSTED ON June 13, 2006
Banks could withstand a crash

The International Monetary Fund has been impressed with the strength of the Australian financial system and its supervision according to APRA. The IMF has been [...]

POSTED ON April 3, 2006
Banks face the squeeze

Banks’ net interest margins are likely to be squeezed in 2006 by a weak housing market and intensified competition. High levels of household debt and [...]

POSTED ON January 13, 2006
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
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
Telstra board leans toward Sensis spin-off

Telstra’s board may separate the Sensis classified and directories arm, and issue scrip at no charge to Telstra shareholders. The government may then go ahead [...]

POSTED ON March 29, 2005
Westpac cool on big bank mergers

Westpac chief executive David Morgan has told the bank's annual meeting that a big bank merger would fail his test of adding shareholder value and [...]

POSTED ON December 17, 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
Packer bids for casino

The Packer-controlled Publishing and Broadcasting has launched a $686 million bid for Burswood Casino. PBL, which already has a 15.6 per cent stake, is offering [...]

POSTED ON April 28, 2004
Bank sites stormed in ANZAC attack

Hackers launched a massive but largely unsuccessful attack on Australian financial institution networks over the ANZAC holiday weekend. Hundreds of attacks were detected after Microsoft [...]

POSTED ON April 27, 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
Card outage hits NAB customers

National Australia Bank customers were unable to use credit or EFTPOS cards on April 1 due to a computer crash. The system was out across [...]

POSTED ON April 2, 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
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
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
Discount fares on Brisbane-Proserpine route

Ansett Australia will reinstate air services between Proserpine and Brisbane from Saturday 4 August. Ansett is managing the restoration of this Flight West service, using [...]

POSTED ON August 2, 2001
Westpac, Bank of Melbourne merger costs

Westpac has announced that costs associated with its Bank of Melbourne merger will be higher than forecast, with the main culprits the distribution network and [...]

POSTED ON April 3, 1998
AMP wins banking licence

AMP Ltd’s persistence had finally paid off, with the Federal Government awarding them a banking licence on Wednesday. Although the licence takes effect from April [...]

POSTED ON April 2, 1998
NAB Fee Rise

National Australia Bank has announced it will be increasing the fee for a cash withdrawal from a non-network ATM from $1.00 to $1.25.This brings them [...]

POSTED ON April 2, 1998
ANZ Announces ‘One’ account

ANZ has introduced a hybrid transaction account which offers 100% mortgage offset irrespective of account balance, salary pay in and access via card or cheque [...]

POSTED ON April 1, 1998
New Regulator here soon

Treasurer Peter Costello has announced he will be speeding up reforms in the financial industry as recommended by the Wallis report with the new Australian [...]

POSTED ON March 30, 1998
ANZ job ads. plateau

The ANZ job advertisements survey- one of the better leading economic indicators available - rose 5.1% in seasonally adjusted terms in February, reversing the poor [...]

POSTED ON March 20, 1998
Aussie Security Systems

Aussie Home Loans have announced that they will be now offering home security and fire detection systems through an exclusive distribution partnership with multinational electronics [...]

POSTED ON March 6, 1998
Wizard Product Enhancements

Wizard Mortgage Corporation has introduced a scheme to be known as Wizard Direct which will give borrowers who apply for their loan by phone and [...]

POSTED ON March 6, 1998
Macquarie expands securitisation

Macquarie Bank said today it will expand its securitisation business to include non-mortgage assets.As a result of the broadening of the business base, the business [...]

POSTED ON February 26, 1998
Commonwealth $602M Interim Profit

The Commonwealth Bank announced an operating profit for the six months to 31 December of $602 million, with earnings per share at 64 cents.Managing Director, [...]

POSTED ON February 23, 1998
Employment Figures Released.

Latest figure released by the ABS show full-time employment moving strongly upward, with 23,100 jobs created in January. However, the lacklustre response the news created [...]

POSTED ON February 23, 1998
Diners Club Australia still looking for a buyer

The Asian crisis dampened Ansett Holdings plans to flog their 68.2% interest in Diners Club Australia.The latest dropouts from the list of bidders apparently include [...]

POSTED ON February 13, 1998