New wave of BPay fraud

B-Pay fraud has started again - criminals are using credit cards to circumvent recently-installed security safeguards. In Sydney over the past three weeks 12 people [...]

POSTED ON April 3, 2019
How to meet your financial goals for 2018

Are you hoping to settle your debts, save for a trip overseas or maybe start a small business in 2018? Whatever your financial goals this [...]

POSTED ON May 8, 2017
Aussie banks under attack from criminals

Banking and finance is heavily affected by cybercrime according to the Australian Cyber Security Centre's 2015 Threat Report. The Banking and financial services industry drew [...]

POSTED ON July 30, 2015
Amazon wallet can store gift cards only

Amazon’s first attempt at its own mobile wallet application, designed for use at the point-of-sale, has made a quiet debut on the Amazon Appstore and [...]

POSTED ON August 1, 2014
Commonwealth goes live with phone payments

Commonwealth Bank's updated internet banking application Kaching (which only works with the iPhone smartphone) finally became available for download from Apple's App Store yesterday. CBA [...]

POSTED ON December 20, 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
St. George launches mobile banking ‘Lite’

St. George Bank has launched an “Australian-first app” feature “Mobile Banking Lite” letting customers “conveniently check their account balance and transaction history”.St. George Bank’s CEO, [...]

POSTED ON March 31, 2011
Netbank open for a chat

Commonwealth Bank customers will be able to chat with a staff member directly from the bank website when an upgrade now underway is complete.Customers can [...]

POSTED ON November 3, 2009
Banks to add more to RBA rate rises

Borrowers are likely to be slugged by more rate rises from RBA and more margin expanding rate rises from the big banks as well. The [...]

POSTED ON November 2, 2009
Switch your lender & save $3,800

Over the last 14 months of the GFC, many people moved their money and their business to a big four bank. Many people could simply [...]

POSTED ON November 2, 2009
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
Fee changes to all transaction accounts

Almost all banks, credit unions and building societies have announced changes to the fees they charge their credit card, loan and account customers. Now may [...]

POSTED ON November 2, 2009
Banks trying to connect with customers

ANZ, Westpac and NAB have launched new marketing programs recently all trying to reconnect with their customers and communities. ANZ have re-fashioned their signage with [...]

POSTED ON November 2, 2009
Most borrowers reject fixed rates

Most homeowners are choosing to stick with their variable rate mortgages with only ten per cent saying they are opting to fix their rate now. [...]

POSTED ON November 2, 2009
Aussies are stashing their cash

The first national study by Westpac into the social effects of the global financial crisis shows more than 32% of Australians are cocooning in the [...]

POSTED ON November 2, 2009
Commonwealth upgrades Netbank

Commonwealth Bank announced it is adding a raft of new features during October and November to NetBank. According to Drew Unsworth the changes improve search [...]

POSTED ON October 28, 2009
Netbank gets better for business

Commonwealth Bank announced it is adding a raft of new features during October and November to NetBank. According to Drew Unsworth the changes improve search [...]

POSTED ON October 28, 2009
Voiceprint coming to NAB online bank

NAB is planning to add a third layer of security authentification to its internet banking platform, giving it the ability to claim it is the [...]

POSTED ON October 15, 2009
NAB customers hit by computer problem

National Australia Bank customers have experienced problems when viewing their account transactions or conducting transfers. The bank says its computer system is to blame.''Due to [...]

POSTED ON October 14, 2009
Banks boost online savings rates

ANZ has announced that rates on selected deposit products will rise by up to 0.50 per cent. The increases include the ANZ Progress Saver, up [...]

POSTED ON October 9, 2009
School tuckshops take credit cards online

Parents at some schools are paying for their children’s lunches online with their credit card to avoid having to give their children money. Holy Cross [...]

POSTED ON October 6, 2009
Aussie share obsession cuts our wealth

Australians lost almost twice as much money during the global financial crisis as people in other countries according to the 2009 global wealth report, by [...]

POSTED ON October 6, 2009
Ten million online bankers

Almost 10 million Australians visited their online internet bank each week, but more visit and spend much more time on social networking sites such as [...]

POSTED ON October 6, 2009
Less competition in banking

National Australia Bank yesterday acknowledged to a senate committee hearing in Melbourne that banking consumers' choices had narrowed in the past year. “I think it's [...]

POSTED ON October 6, 2009
Auction continue to deliver results

There were only 171 auctions listed in Sydney on the October long weekend but the clearance rate improved to 72.5 per cent from 62 per [...]

POSTED ON October 6, 2009
Competition returning to mortgage market

NAB, ANZ and second tier lenders all managed to claw back mortgage market share in August. ANZ said they have improved turnaround times on mortgage [...]

POSTED ON October 2, 2009
Borrowers head to Commonwealth in August

The growth story in the loan market remains that of Commonwealth Bank, which lifted its lending by 1.2 per cent over the month of August [...]

POSTED ON October 2, 2009
200,000 Ford car loans sold to Macquarie

Macquarie Leasing will take over the servicing of the Ford loans by January 2010. The portfolio covers around 200,000 vehicles and adds to the bank’s [...]

POSTED ON October 2, 2009
Savings tax to be slashed

The federal government’s Henry review into taxation is set to recommend that tax on savings should be slashed. Ken Henry said yesterday that a middle [...]

POSTED ON October 2, 2009
Savers want good rates and no fees

Bank customers are fed up with fees on savings accounts and want to be rewarded with higher rates for saving regularly, according to a new [...]

POSTED ON October 2, 2009
RaboPlus to launch bonus saver account

RaboPlus will add a bonus saver account to its product portfolio to be launched next week. It will pay five per cent interest to customers [...]

POSTED ON October 2, 2009
Banks deny rate rise plans

Speculation is continuing that the big banks are planning to raise interest rates on variable rate mortgages independently of the Reserve Bank. Banks are continuing [...]

POSTED ON October 2, 2009
Grants cut down but sales to hold up

First home buyers of new homes will be entitled to $14,000 of federal government assistance from today, October 1, down from the $21,000 grant paid [...]

POSTED ON October 1, 2009
ME’s Online Savings Account ahead of the pack

ME Bank’s Online Savings Account has won the Australian Financial Review Smart Investor Blue Ribbon Awards 2009, Overall Savings Account Category. Savings products from over [...]

POSTED ON October 1, 2009
NAB adds bonus interest to iSaver

NAB iSaver account is currently offering 4.40 per cent for new customers with unlimited withdrawals and the ability to transfer funds out instantly. There are [...]

POSTED ON September 24, 2009
Netbank outages drive exec pay down

Commonwealth Bank has cut the pay of its senior IT staff because outages to the bank’s internet banking system has angered its customers.The netbank website [...]

POSTED ON September 16, 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
InfoChoice more popular than ever

Traffic to the InfoChoice website has grown 56 per cent from January to June 2009. InfoChoice.com.au remains Australia’s most popular banking product comparison website as [...]

POSTED ON August 31, 2009
50,000 seek hardship relief

More than fifty thousand Australian households have been given hardship relief by major banks in the past year. Westpac, St George, ANZ, National Australia Bank, [...]

POSTED ON August 31, 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
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
End of day loophole nets $200K

A New Zealand woman has been jailed for 12 months for defrauding the National Australia Bank of more than $112,000 and helping others to do [...]

POSTED ON August 6, 2009
Demutualisation worth $1,160 to MyState members

PKF Corporate Advisory produced a slightly higher estimate on the value arising from the merger of MyState Financial, the largest credit union in Tasmania, with [...]

POSTED ON July 21, 2009
Online crime surges

North Korea is believed to be behind a surge of internet crimes. A series of internet attacks on government agencies and businesses in the USA [...]

POSTED ON July 13, 2009
Netbank problems are ‘customer related’

Reports persisted yesterday of continuing problems with transaction histories and other minor bugs on CBA's award-winning NetBank platform. The Sheet was contacted by a couple [...]

POSTED ON July 8, 2009
Banks can’t secure the net

Internet banking is now so integral to the economy, business and commerce that governments must step in to heavily regulate and secure it or banks [...]

POSTED ON July 8, 2009
CBA insists problem resolved with Netbank

Commonwealth Bank is adamant that the problems with its online banking system, NetBank, have been resolved. The high transaction issue was resolved on Tuesday morning [...]

POSTED ON July 7, 2009
Netbank under hacker attack

Commonwealth Bank yesterday confirmed that its' Netbank internet banking platform was under malicious attack from hackers. Tuesday was the third day of the attack. The [...]

POSTED ON July 1, 2009
Your voice is your PIN at NAB

The fuss over the security of remote banking has largely faded as a consumer issue but some banks continue to take an interest in extending [...]

POSTED ON June 12, 2009
Credit card gang rocks the net

Police in the UK and the USA have apprehended seven men and three women who used 1,500 stolen credit cards to spend $750,000 buying their [...]

POSTED ON June 12, 2009
SMS scams: Txt me ur bank a/c

The Commonwealth Bank is asking consumers to remain on alert following a new round of scams which are now targeting people via telephone and SMS [...]

POSTED ON June 10, 2009
St George waits for banking revamp

Westpac will invest in an upgraded internet banking platform to cater to all its banking business. The new platform will be implemented first at Westpac's [...]

POSTED ON May 26, 2009
Fake CBA emails offer prizes

The Commonwealth Bank is encouraging customers to be more vigilant with their personal and banking account details following a spate of scam emails being circulated.In [...]

POSTED ON May 21, 2009
Fake NAB emails going around

National Australia Bank has issued a warning to customers to beware of emails purporting to be from the bank. NAB says: Fraudulent emails have been [...]

POSTED ON April 14, 2009
Mobile banking – Yes but what does it cost?

How comfortable would you be doing your banking on your mobile phone? Queensland University of Technology business honours scholar Lisa Wessels is trying to find [...]

POSTED ON April 9, 2009
No more big rate cuts

The Reserve Bank governor has signalled that the central bank may wait and see the impact of recent rate cuts before making any new big [...]

POSTED ON February 24, 2009
Card holders like mobile phone payments

Shoppers and merchants have delivered good feedback on the mobile phone based contactless payments system recently trialled in the Docklands area of Melbourne. The trial, [...]

POSTED ON February 19, 2009
Half per cent rate cut for March

Market expectations of a 0.5 per cent rate cut firmed yesterday to a 100 per cent certainty after the release of the Reserve bank Board [...]

POSTED ON February 18, 2009
Big credit union passes on rate cut

Following the one per cent reduction in the official cash rate announced by the Reserve Bank of Australia (RBA) on Tuesday, Credit Union Australia can [...]

POSTED ON February 13, 2009
Depositors seek safety in majors

Commonwealth Bank, Westpac, ANZ and NAB and St George all increased their deposits in the last few months according to the Australian Prudential Regulation Authority.CBA's [...]

POSTED ON February 12, 2009
CBA needs to keep future rate cuts

The Commonwealth Bank has signalled that it may not pass on in full to borrowers any future rate cuts delivered by the Reserve Bank of [...]

POSTED ON February 12, 2009
ANZ warns of new Trojan virus

ANZ is warning its customers about a Trojan virus that creates a fake "personal details form" that appears to customers after they log on to [...]

POSTED ON February 6, 2009
More rate cuts and more spending needed

Further deep cuts in interest rates are needed as well as more government spending to stimulate the economy the treasury secretary Ken Henry said yesterday. [...]

POSTED ON February 6, 2009
Commonwealth to launch banking by mobile phone

Commonwealth Bank is preparing to launch a mobile phone banking service which is already available to netbank customers at http://mobile.netbank.com.au/. The service gives customers access [...]

POSTED ON February 5, 2009
Rate cuts to keep on coming

The Reserve Bank of Australia faces extreme pressure to deliver substantial rate cuts today and in next few months as the global economic crisis spreads. [...]

POSTED ON February 3, 2009
Rates to plunge to two per cent

The Reserve Bank will cut official interest rates to 2.5 per cent or below next year say some economists because unemployment is expected to almost [...]

POSTED ON December 31, 2008
NAB to speed up transfers

National Australia Bank will jointly develop and promote a range of new payments products and services with software developer Distra following a deal which will [...]

POSTED ON December 29, 2008
Aussies become bargain hunters

December retail sales are up 3 per cent on last year and 10 per cent on the year before, according to the Australian National Retailers [...]

POSTED ON December 29, 2008
Bank fee take goes up

Banks collected $22.6 billion in fees and charges from their customers in the year to June 30, up more than $2 billion from $20.5 billion [...]

POSTED ON December 24, 2008
Up market retail boom

High end Collins St retailers such as Louis Vuitton and Tiffany's and Co. are reporting strong activity in the last two weeks before Christmas, causing [...]

POSTED ON December 24, 2008
Banks launch no penalty fee accounts

Three of the big four banks have recently announced bank accounts with no penalty fees for overdrafts after increasing criticism of the high fees from [...]

POSTED ON December 17, 2008
Big rates on offer from small banks

Some smaller institutions are still offering deposit interest rates of six and seven per cent, at call, on even small amounts of cash despite big [...]

POSTED ON December 15, 2008
Aussies reject shares for bank deposits

More people than ever before believe that banks, credit unions and building societies are best place to invest their savings. According to the Westpac-Melbourne Institute [...]

POSTED ON December 11, 2008
Next big rate cut due in February

The governor of the Reserve Bank, Glenn Stevens, said yesterday that there were reasons to have "quiet confidence" about the economy and signalled that while [...]

POSTED ON December 10, 2008
Netbank customers can get cash

Commonwealth Bank customers caught up in an online banking system error will not be charged fees or interest caused by the problem. Two hundred thousand [...]

POSTED ON November 26, 2008
Account switching made easier

Switching bank accounts to get a better deal is now easier following the introduction on Friday of a new account switching service. Australian Securities and [...]

POSTED ON November 3, 2008
Depositors cash in

Investors are cashing in on high rates of return from simple deposits in the bank, as market turmoil drives other investments down. Banks are desperate [...]

POSTED ON July 28, 2008
SMS banking can be expensive

SMS banking services can attract data usage fees from the mobile phone provider as well as fees charged by the financial institution. NAB offers the [...]

POSTED ON July 7, 2008
Bank customers like branches

Online banking will never replace branches says one of the founders of the UK based online bank Egg. Online banking has not been the nirvana [...]

POSTED ON June 30, 2008
Money arguments are abuse

Emptying a spouse's bank account will become grounds for an intervention order under proposed laws to be introduced to the Victorian parliament today. Behaviour that [...]

POSTED ON June 25, 2008
Investors go for safety

Term deposits and cash investments are growing in popularity as investors shy away from equities. The ASX200 has dropped 15.4 per cent this year and [...]

POSTED ON June 20, 2008
ANZ taps super deposits

ANZ and Russell Investment Group have linked to provide an all-in-one superannuation, pension and bank account. The account is an extension of the Russell Private [...]

POSTED ON June 12, 2008
Rabobank looks for more agribusiness

Rabobank Australia increased its' share of the farm lending market in 2007 and expects to make further inroads this year. The bank announced a 144 [...]

POSTED ON June 11, 2008
Savings shrink as spending continues

Household savings have dived, confounding analysts who expected that the level of savings would increase in response to tighter economic conditions. Savings as a percentage [...]

POSTED ON June 5, 2008
ING makes ID easier

ING Direct has become the first Australian bank to allow customers to open and operate a deposit account entirely online. The bank has done away [...]

POSTED ON June 3, 2008
Risky behaviour on the net

A new study has shown that while people are concerned about internet security, many do not know how to minimise the risks. The AusCERT Home [...]

POSTED ON May 20, 2008
ANZ secures business site

The ANZ Bank has launched its new internet based business banking platform which includes two-factor authentication for improved security. The service will cost $15 per [...]

POSTED ON May 13, 2008
Co-operation could cut banking costs

The Bank of Queensland has put forward an argument for increased sharing of processing and payment services between banks, saying that such a move could [...]

POSTED ON March 13, 2008
ANZ and NAB get mobile

The ANZ Bank will be first to market with its mobile phone banking service due to start on February 11. NAB will follow with its [...]

POSTED ON February 1, 2008
CBA making people happier

While the ANZ Bank continues to lead customer satisfaction levels with a 78 per cent rating, the Commonwealth Bank made the biggest improvement over the [...]

POSTED ON January 30, 2008
Banks revisit IT options

While no contracts have been signed yet, three of the big four banks are investigating upgrades of their core transaction processing systems. Sources told The [...]

POSTED ON December 18, 2007