How to find the best savings account in Australia

Comparing Savings Accounts: Your InfoChoice Guide to Savings Accounts, January 2020 Looking for your best savings account means not just jumping at the highest rate [...]

POSTED ON January 20, 2020
Five top savings accounts, January 2020

The best savings account rates in Australia are now around 2.0% to 2.50% pa. To get a high rate, savers need to compare savings accounts [...]

POSTED ON January 13, 2020
What is a notice saver account?

Notice saver accounts are a hybrid term deposit and at–call savings account, offering a bit more flexibility to savers than a term deposit and a [...]

POSTED ON January 10, 2020
Do savings accounts pay compound interest?

When you open a savings account it’s for one reason only – to grow your money. Obviously, when you’re comparing savings accounts, you’ll be looking [...]

POSTED ON December 12, 2019
How to become a millionaire

Everyone wants to be a millionaire, but far too many people believe that this is only possible through inheritance or blind luck. While this is [...]

POSTED ON December 10, 2019
Top savings rates in December 2019

The RBA has set interest rates in Australia at all-time lows and may cut rates yet again in the near future. CPI inflation in December [...]

POSTED ON December 2, 2019
How to overdraw your bank account

You just need a few more dollars. There just isn’t quite enough in our account. Or there is none at all! Some banks will let [...]

POSTED ON November 25, 2019
How to get a basic fee-free bank account

An everyday transaction banking account is a basic necessary tool of modern life. Australian banks have recently committed to strengthening the protections for Aussies who [...]

POSTED ON November 22, 2019
What is a joint bank account?

A joint banking account is a transaction or savings account that two or more people hold together; both (or all) account holders can access the [...]

POSTED ON November 21, 2019
Getting super returns from your cash

How to turn $100 into $1600 now. Sandra* is a self-funded retiree, with just a small part-pension from Centrelink. Sandra keeps an eye on her [...]

POSTED ON November 14, 2019
Top savings rates in November 2019

The RBA has rates set at all-time lows and may cut rates yet again in the near future. CPI inflation has edged up to 1.7 [...]

POSTED ON November 12, 2019
Micro-investing apps vs savings accounts

Micro-investing apps make investing easy, you link your internet banking login details to the app, set up a savings/investment plan and watch your money grow, [...]

POSTED ON October 30, 2019
First InfoChoice review of 86 400

What is 86 400? 86 400 is a neobank – a completely online bank that is based on mobile phone app technology. 86 400 is [...]

POSTED ON October 29, 2019
Which bank has the best children’s savings account?

Children’s savings accounts are in the news at the moment, mostly because of controversy surrounding the Commonwealth Bank’s school banking program, Dollarmites. In 2018, the [...]

POSTED ON October 9, 2019
Which banks use Osko?

What is Osko? Osko, in short, is a new way to pay people, businesses and transfer money between bank accounts using Australia’s New Payments Platform [...]

POSTED ON September 26, 2019
Xinja Bank – what is it all about?

Xinja Bank is a new kind of bank that is not yet fully operational. In the next few months Xinja will launch new accounts and [...]

POSTED ON September 19, 2019
What are my chances of winning Powerball?

The Powerball jackpot this week is the biggest in Australian history at $150 million. One in three Aussie adults is expected to play this week's [...]

POSTED ON September 18, 2019
What is the cashless welfare card?

All Centrelink payments get paid as cash into bank accounts as a right of every Australian. Until now. Since the Howard government, remote communities have [...]

POSTED ON September 10, 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
What is a notice saver account?

Notice saver accounts are a fairly new product to the Australian savings account scene. They’re a handy hybrid of term deposits and on-call savings accounts. [...]

POSTED ON August 19, 2019
What is happening to eftpos?

There is a titanic battle playing out right now, behind the scenes, between Australia’s big banks, the Morrison government, the Reserve Bank, global credit card [...]

POSTED ON August 16, 2019
Tick and flick – is it really that easy?

Your guide to switching banks Australians are more likely to get divorced than change their bank. But thanks to a number of government regulations in [...]

POSTED ON August 7, 2019
What is Afterpay?

Afterpay is part of a new wave of ‘Buy now, Pay later’ apps and online wallets that is sweeping the world. Afterpay allows you to [...]

POSTED ON July 22, 2019
Great savings rates revealed

Commonwealth Bank, Westpac, NAB and ANZ have all cut their savings account and term deposit rates in recent weeks. Base rates on savings accounts are [...]

POSTED ON July 15, 2019
Facebook’s Libra money is coming in 2020

Facebook, Visa, Mastercard, PayPal, Uber, eBay and 23 other online commerce brands have announced a plan to establish a new online currency for Facebook called [...]

POSTED ON June 19, 2019
Which savings account is right for me?

Savings accounts are NOT all simple, straightforward products that are basically pretty much all the same. Each savings account has its own terms and conditions, [...]

POSTED ON June 19, 2019
9 Ways You Could Be Wasting Money

Sometimes it can feel like you’re doing everything right, but still not seeing results. Benjamin Franklin said, “a small leak will sink a great ship” [...]

POSTED ON June 18, 2019
Easy ways to save money in Australia

Do you think saving money is hard? Spending money is easier right? Well actually anyone can save money but managing their cash efficiently and taking [...]

POSTED ON June 5, 2019
Good news as savers saved from full rate cuts

Which banks are cutting savings rates? Savers are often forgotten in conversations about rate cuts. Borrowers love lower interest rates but the other side of [...]

POSTED ON June 5, 2019
The Best Savings Account For Your Tax Refund

Almost two thirds of Australian taxpayers are expecting a refund this tax year, and it’s not chicken feed. The average tax refund in Australia was [...]

POSTED ON May 30, 2019
ING Bank brings out a new savings system

ING Bank introduces a new saving system set to shake up the other banks. Following suit with investment apps such as Acorns, ING has the [...]

POSTED ON February 14, 2018
ATM Fees Get The Axe From Four Big Banks

Australian’s biggest banks have decided to axe ATM’s fees for customers of other banks. Commonwealth Bank (CBA) announced on Sunday that they were axing ATM [...]

POSTED ON September 25, 2017
You don’t need to give up coffee to save money

Personal finance advisor David Bach says if you skip coffee every morning and invest that money instead, you’ll be a millionaire by retirement. Another personal [...]

POSTED ON June 8, 2016
How Aussies became savers

Australia's household savings ratio fell from around 20 per cent of disposable income in the early 1970s to around zero by the early 2000s according [...]

POSTED ON April 17, 2014
Young people like saving and renting

Many young Aussies are not interested in buying property and burdening themselves with a home loan. They are renting and building up their savings by [...]

POSTED ON March 20, 2014
Account fees and mobile access is most important

Banks looking to improve their retail customer satisfaction scores should get rid of monthly account-keeping fees and improve their mobile phone access. Banking researcher RFi [...]

POSTED ON March 28, 2012
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
Aussies choose savings over debt

New figures show deposits on the books of Australian banks keep rising dramatically, relative to loans, as consumers address their new-found craving to save. In [...]

POSTED ON December 5, 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
Aussies embrace a ‘new love of saving’

A survey conducted by researcher Datamonitor earlier this year shows 35.4 per cent of respondents increased their holdings in cash and bond investments last year. [...]

POSTED ON February 25, 2011
Four steps to switching banks

Switching bank accounts to a new bank is easier than it has been in the past, but can still be a complex process. ASIC and [...]

POSTED ON November 2, 2009
Losses mounting in super funds

Superannuation funds are heading for their first annual loss in six years on the back of a 25 per cent fall in the sharemarket since [...]

POSTED ON March 12, 2008
Surpluses could help boost super

The federal government is considering increased superannuation contributions as a way to convert budget surpluses into private savings. Former Reserve Bank governor Bernie Fraser has [...]

POSTED ON February 21, 2008
Eftpos good enough for Medicare refunds after all

Medicare Australia has had a change of heart over the merits of developing an entirely new payments mechanism to distribute government rebates from medical consultations. [...]

POSTED ON August 14, 2006
More households saving and borrowing

A survey by the Melbourne Institute, the Household Saving and Investment Report found that only half of Australian households saved any money. In the year [...]

POSTED ON August 11, 2005