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
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
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 [...]

POSTED ON March 31, 2011
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
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
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
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
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
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
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
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, Commonwealth Bank NetBank, have been resolved. The high transaction issue was resolved on [...]

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
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
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. [...]

POSTED ON May 21, 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
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
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
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
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
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
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
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
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
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
PM pledges tax cuts for all

The Prime Minister John Howard yesterday fired the first salvo of the election campaign by promising to cut taxes by $34 billion over the next [...]

POSTED ON October 16, 2007
Branch banking leaps into 21st century

BankWest is not the only one giving branch banking a make-over with the Commonwealth Bank's Rouse Hill branch offering its customers free internet and phones [...]

POSTED ON October 11, 2007
Competition heats up in online trading

Online share broking has become more popular with the booming share market, and last year E*Trade's customer accounts increased by 29 per cent. In answer [...]

POSTED ON February 14, 2007
Phishing inhibits banks communication with customers

An online fraud survey has found that phishing scams are undermining customers confidence in electronic messages allegedly from financial institutions, which means that banks are [...]

POSTED ON February 6, 2007
Consumers won’t pay for net banking

The Australian Securities and Investments Commission (ASIC) is reviewing the Electronic Funds Transfer code of conduct. ASIC has revealed that banks will not pass the [...]

POSTED ON January 23, 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
Online security a customer responsibility

Protect Your Financial Identity is a new website launched yesterday by the Australian Bankers Association, Australian Securities and Investments Commission and the Australian High Tech [...]

POSTED ON December 8, 2006
The booming business of phishing

The business of "phishing" has a much higher success rate than previously estimated, according to a controversial new US study. A single phishing attack can [...]

POSTED ON October 18, 2006
CBA adds security options to internet banking

Commonwealth Bank will offer retail bank customers two options to improve the security of internet banking. One option is a token the customer can keep [...]

POSTED ON September 29, 2006
Eftpos investment in need of coordination

The Reserve Bank of Australia is pushing for banks to accept more "coordination" of investment in Eftpos, in order to stimulate "network innovation". In a [...]

POSTED ON September 28, 2006
NAB ups security on internet banking

National Australia Bank has introduced a combined daily Internet Banking transfer limit for customers who have not registered for their SMS authentification system of $2,500. [...]

POSTED ON July 24, 2006
Banks improve internet banking sites

Smaller institutions are struggling to keep their banking web sites functional and user friendly and often have very basic services. Mortgage broker Prosolutions Private Clients [...]

POSTED ON July 24, 2006
Banks mix email messages

Do Australian banks have a rule that they do not send emails to customers, as several once did? Or do banks now swiftly notify customers [...]

POSTED ON June 28, 2006
Banks sensitive to phishing publicity

Michael Cameron, Commonwealth Bank group executive, retail banking services said the bank detected an increased level of activity around the web sites and credit card [...]

POSTED ON June 28, 2006
NAB phising scam dressed up as wild rumour

A hoax e-mail that claims that the National Australia Bank is bankrupt infected 1,000 customers with malicious code in the form of a "Trojan". The [...]

POSTED ON June 19, 2006
PayPal attacked by next gen phishing scam

PayPal acted swiftly to shut down an elaborate phishing scam that used PayPal's own URL and website to fool customers into handing over personal details. [...]

POSTED ON June 19, 2006
POLi makes payment debut

Five million Australians are registered internet banking users and this growing market is the target of a new closed loop debit payment service that its [...]

POSTED ON December 14, 2005
Internet banking users pay for increased security

Online banking may be neither free nor absolutely safe. The Australian Federal Police and the banking industry believe online banking fraud is the world's fastest-growing [...]

POSTED ON May 6, 2005
Consumer lobby lashes CBA over fees

Consumer advocates say that Commonwealth Bank betrayed its transaction customers with the introduction of some new fees on internet banking. From July 1, Commonwealth NetBank [...]

POSTED ON May 5, 2005
CUA offers banking by SMS

Account holders at Credit Union Australia will be able to check their account balances and receive transaction alerts by mobile phone text message under a [...]

POSTED ON March 18, 2005
More interest from shopping around

Denis Orrock of financial services provider InfoChoice said the delay by banks in passing on, or passing on only a proportion of the recent interest [...]

POSTED ON March 14, 2005
Members Equity catches up on high yield deposits

Four lenders increased interest rates on high yield deposit accounts late last week. Members Equity increased the interest rate on its transaction accounts by up [...]

POSTED ON March 7, 2005
Banks play down risks of internet banking

Most Australian banks have rejected the use of so-called two-factor authentication, a technique in which bank customers use a second method, such as an electronic [...]

POSTED ON March 2, 2005
Commonwealth selectively lifts deposit rates

Commonwealth Bank said it would target select segments of the market for higher deposit interest rates in order to compete with the appeal of high [...]

POSTED ON November 23, 2004
ING Direct makes rivals see green

ING Direct has a business model that's the envy of other banks: no branches, low staff costs and reliable technology. It's a successful formula which [...]

POSTED ON August 26, 2004
Online banking moves to a new phase

There are now at least 8 million online banking registrations in Australia but growth is slowing. Security scares may be putting the brakes on take-up [...]

POSTED ON August 26, 2004
Banks fish for answer to internet scams

The surge in online banking e-mail scams over the past 18 months has forced banks to come up with more sophisticated technology to replace traditional [...]

POSTED ON August 26, 2004
Online banking security plan in doubt

A new security measure being evaluated by Australia's banks may not go ahead after a large vendor last week ditched its product. The technology involves [...]

POSTED ON August 2, 2004
Bendigo offers customers e-fraud solution

Bendigo Bank is to offer its 70,000 e-banking customers a security device which generates one-off ID numbers. The bank said the system will be offered [...]

POSTED ON July 7, 2004
NAB fights account fraud with SMS

National Australia Bank will move against Internet banking fraud with a new security scheme which uses SMS. Customers will get one-off PINs before they use [...]

POSTED ON July 5, 2004
The best rates for savings

Online savings acounts continue to offer higher rates than other hi-yield accounts such as cash management accounts. Citibank's Online Cash Management account pays 5.4 per [...]

POSTED ON June 16, 2004
Banks mean on kids’ accounts

Some banks are ripping off children by offering accounts which pay miniscule interest as well as charging fees, the Australian Consumers' Association says. The ACA [...]

POSTED ON June 7, 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
HSBC forced to relaunch web account

HSBC has relaunched its Online Savings Account, positioning it between a traditional bank transaction account and the high-interest online accounts. HSBC's Online Savings Account offers [...]

POSTED ON May 19, 2004
Bank too slow to arrest Sasser

Westpac CEO David Morgan has admitted the bank was slow to detect and stop an incursion of the Sasser worm into its branch banking network. [...]

POSTED ON May 7, 2004
Online savings rate rise again

Citibank has lifted the interest rate on its Online Cash Manager account from 5.25 to 5.40 per cent. This puts Citibank at the top of [...]

POSTED ON April 2, 2004
Beware new card fraud by phone

Conmen have been phoning Visa and MasterCard customers claiming to be from the card issuers' fraud divisions. The fraudster provides a name and "badge number" [...]

POSTED ON April 1, 2004
ING extends online account to business

ING Direct has introduced a similar high-interest online savings account for businesses to that available to consumers since 1999. The Business Optimiser offering is an [...]

POSTED ON March 31, 2004
ASIC identifies top scams

Cold calling from unlicensed offshore brokers, share trading get-rich-quick schemes, bogus bank e-mails seeking account details and offers of early access to superannuation are the [...]

POSTED ON March 16, 2004
Email scams not a worry: ABA

The number of e-mail online banking scams has risen globally from three per week to about 50 per week since November and Australian banks' sites [...]

POSTED ON March 12, 2004
Citibank launches account for foreign backpackers

Citibank has launched a transaction account for British and German backpackers allowing them to deposit funds before departure for access on arrival in Australia. The [...]

POSTED ON February 25, 2004
New scam fleeces Internet bank accounts

An international scam is targeting the internet banking customers of major Australian banks, siphoning off savings from accounts with their holders unaware. The scam, more [...]

POSTED ON January 9, 2004
Small players beat big in savings accounts

Small financial institutions have again outperformed their big bank rivals in offering the best banking products in 2003. The savings and transaction accounts with the [...]

POSTED ON December 11, 2003
BPay

BPay is an an Australia-wide electronic bill payment service, offered by most financial institutions. It enables consumers to pay bills to a range of businesses [...]

POSTED ON October 2, 2003
Online savings account

A new breed of savings account which offers higher rates of interest 'at call' in return for more restricted account access. Usually no over-the-counter or [...]

POSTED ON September 25, 2003
HSBC offers forex savings play

HSBC is offering customers the chance to take a punt on currency movements with a new foreign currency deposit account. The Multi-Currency Account allows savings [...]

POSTED ON September 12, 2003
High-tech means more bills paid

The Reserve Bank says that the increasing use of technology in the payments system means that Australians are paying more bills, more often. Since 1995, [...]

POSTED ON September 9, 2003
Card fees may rise again over fraud

Credit card fees may rise to help fund the transition to smart cards which will dramatically reduce instances of fraud. Master Card and Visa International [...]

POSTED ON July 28, 2003