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
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
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
Aussie Dollar hits new 23 year high

The Australian dollar has breached another 23 year high in overnight trading touching 90.61 US cents, surpassing the previous high of 90.50 US cents reached [...]

POSTED ON October 12, 2007
RAMS profit solid but future unsure

While RAMS Home Loans has posted a profit of $43.5 million - after stripping out accounting charges and other one-time costs - the company has [...]

POSTED ON August 29, 2007
Hyundai cut costs of car lease

GE Capital and Hyundai Motor Company said on Friday they entered into a "finance partnership" and the pair's opening offer appears to be keenly priced. [...]

POSTED ON September 4, 2006
10 year leases pushed

The NSW government will encourage residential property investors to consider much longer tenancy terms, and may change the law to allow owners to negotiate the [...]

POSTED ON July 8, 2005
Car yard finance an expensive choice

Buyers of new cars will bargain over a car's price tag, but are less inclined to shop around for the lowest available finance. And while [...]

POSTED ON November 25, 2004
Bumper year for finance companies

Finance companies are experiencing their best conditions for a decade, according to KPMG. Over 2003-04, finance company profitability grew by about 24 per cent, as [...]

POSTED ON September 3, 2004
CBA cuts business banking jobs

The Commonwealth Bank has admitted that a restructuring of its business banking division will lead to job cuts in support and back-office functions. However a [...]

POSTED ON August 20, 2004
More businesses to score bank loans

The introduction of credit-scoring by the big banks for small business loans may make it easier for SMEs without sufficient security or business history to [...]

POSTED ON August 3, 2004
Victims of Kaye to sue watchdogs

At least 40 victims of Henry Kaye's collapsed property seminar business will launch a class action against the Australian Securities and Investments Commission, the Australian [...]

POSTED ON December 3, 2003
Community First competitive on car loan

Community First Credit Union has launched a car loan at 7.2 per cent with no security required, adding to the increasing competition in the personal [...]

POSTED ON May 30, 2003
ACA warns on banks’ fine print

Banks and finance companies are inserting unfair conditions into their contracts, according to the Australian Consumers' Association submission to the Trade Practices Act review. The [...]

POSTED ON July 19, 2002
Bank chief asks ACCC to ease off

ANZ Bank chief John McFarlane warned yesterday that competition constraints are stopping Australia's big banks from achieving their full global potential. He said that bans [...]

POSTED ON May 1, 2002
Rates holding but watch out: Westpac

Westpac is predicting that the Reserve Bank won't be raising interest rates until at least April 2003. But the bank also says that once this [...]

POSTED ON February 21, 2002
Cost fears undermine Bendigo

Bendigo Bank's shares fell yesterday as analysts reacted negatively to a perceived costs blow-out detailed in its first-half results announced on Monday. But Bendigo's MD [...]

POSTED ON February 21, 2002
Keep accurate records

Keep accurate records of your deposits and ATM transactions. It is also wise to keep copies of your loan application and approval documents in a [...]

POSTED ON February 20, 2002
Bendigo proves a local hero

Bendigo Bank has lifted its first-half profit by 25 per cent to $19.5 million, with lending approvals surging 76 per cent to $1.9 billion. The [...]

POSTED ON February 20, 2002
Expert warns on bank privacy

Des Powell, MD of See-Beyond, claims that banks and insurance companies don't have the technical capacity to deal with Australia's new privacy laws. The laws [...]

POSTED ON February 20, 2002
Danger of world backwash recedes

The Reserve Bank's deputy governor, Glenn Stevens, says that the threat of Australia being pulled into a global downturn is receding, but the economy is [...]

POSTED ON February 20, 2002
Hefty fees for your information

Australia's Big Four banks charge their customers hefty fees if they want to see their own files. New privacy laws came into effect in December [...]

POSTED ON February 19, 2002
Westpac offers something for the weekend

Westpac is leading the other banks with a proposal to open on Saturday mornings at Bondi Junction, Parramatta, Chatswood and the Macquarie Centre in New [...]

POSTED ON February 19, 2002
Quick fix not for everyone

People with mortgages are now wondering whether it's time to lock their loans into fixed rates. Fixed interest rates have already started to rise and [...]

POSTED ON February 18, 2002
CBA a victim of online fraud

The Commonwealth Bank has admitted that its NetBank service has been a fraud victim, despite denials last year that its systems had been prey to [...]

POSTED ON February 15, 2002
CBA steps up attack on card reforms

The Commonwealth Bank’s CEO, David Murray, is continuing to criticise the Reserve Bank’s proposed overhaul of the credit card fee regimen. Murray says that the [...]

POSTED ON February 15, 2002
Funds arm feels heat at St George

Bain International has been reviewing St George Bank’s wealth management division and this will have implications within a month or so for its funds subsidiaries, [...]

POSTED ON February 14, 2002
Westpac trials Saturday trading in NSW

Westpac may introduce a trial of Saturday trading for its branches in NSW. This would bring hours into line with those of its Bank of [...]

POSTED ON February 12, 2002
Credit Unions beat the banks with lower fees

Less than 30 per cent of Australia’s credit union members pay any kind of transaction or account keeping fee. Recently ANZ & CBA announced fee [...]

POSTED ON February 12, 2002
Preparing for 2002 – Businesses show concern

Results of the first major business survey for 2002 conducted by The Australian Chamber of Commerce and Industry have been released. These results indicate more [...]

POSTED ON January 10, 2002
2002 – A tough year for the Big Four

Analysts are predicting a challenging year for the major banks in 2002. Although the big four weathered the first leg of the economic downturn well, [...]

POSTED ON January 10, 2002
Banks assist bushfire victims

All of the four major banks have offered assistance packages to those people affected by the recent bush fires in New South Wales. Below is [...]

POSTED ON January 10, 2002
Australians embrace internet banking

Over 20 per cent of Australians are signed up with one of the major banks to do their banking over the internet. Internet banking has [...]

POSTED ON December 21, 2001
Banks state their commitment to customers

NAB and Westpac held their Annual General Meetings yesterday and the CEO’s of both banks stressed their commitment to listening and responding to the concerns [...]

POSTED ON December 17, 2001
Credit card debt behind rise in bankruptcies

Dun & Bradstreet has cited rising consumer debt behind a 30 per cent increase in personal bankruptcies for the past year. Dun & Bradstreet's CEO, [...]

POSTED ON December 6, 2001
GE Capital may buy AGC

Westpac has confirmed that non-conforming lender GE Capital has placed an offer to purchase its AGC Finance business. The US-based consumer finance specialist has already [...]

POSTED ON November 29, 2001
Falling rates trigger fixed-rate loan war

Fixed interest rates are continuing to fall sharply with non-bank lender RESI Mortgage Corporation leading a charge to undercut the major banks to a point [...]

POSTED ON November 12, 2001
Credit unions & building societies healthy

Despite having a fraction of the assets of the banking sector, profit growth figures for Australia's credit unions and building societies matched bank performances in [...]

POSTED ON November 2, 2001
Online Banking nets consumer attention

AC Neilsen and netRatings latest survey of Internet banking in Australia highlights its acceptance by a growing number of Australians. In August, Westpac's customers spent [...]

POSTED ON October 25, 2001
Overdrafts over the hill

Australian borrowers now use more flexible forms of personal finance in preference to bank overdrafts. As financial services evolve, traditional services and payment methods such [...]

POSTED ON October 25, 2001
Non-bank lenders filling branch gaps

Smaller banks and non-bank lenders alike are now rushing to replace the holes left by the retreat of traditional bank branch networks.The large numbers of [...]

POSTED ON October 25, 2001
Borrowers now in box seat to get ahead

The Reserve Bank is expected to announce a cut in Australian interest rates tomorrow by 0.25 percentage points to 4.50 per cent meaning standard variable [...]

POSTED ON October 4, 2001
Elders Bank reports strong first year profit

Elders Rural Bank has reported a $10.25 million profit in its first year of operation to establish a strong presence in the rural finance market [...]

POSTED ON August 1, 2001
RBA releases latest survey on bank fees

The latest survey of bank fees from the Reserve Bank of Australia shows households as a group have gained more from banks reducing their interest [...]

POSTED ON July 24, 2001
Australian economy the toast of the town

Australia's economy has outperformed that of most others - particularly the powerhouses of the USA, Japan and Europe - against all the expectations of the [...]

POSTED ON July 24, 2001
Newcastle faces bank disruption

Newcastle customers of the National Australia Bank, Westpac and the ANZ face a disruption to services this Friday June 29 as a major industrial campaign [...]

POSTED ON June 26, 2001
Taxing options for investors

With the end of the financial year fast approaching there are taxing decisions to be made by investors. Whether its an investment-property loan or term [...]

POSTED ON May 31, 2001
Suncorp-Metway named best regional bank

Australian Banking and Finance magazine has named Suncorp-Metway Best Regional Bank for 2001. Suncorp-Metway was selected from a short list that included Bank of Queensland, [...]

POSTED ON May 17, 2001
New global weapon against Net fraud

Victims of the growing incidence of internet fraud now have a central global complaints authority after the launch this week of a consumer protection website [...]

POSTED ON May 7, 2001
No change to rates

The Reserve Bank of Australia has held official interest rates steady at 5 per cent at its May board meeting. [...]

POSTED ON May 3, 2001
Surprise US rate cut

The Federal Reserve has cut US interest rates by 0.5 percentage points, taking official interest rates in the states to 4.5 per cent. The move, [...]

POSTED ON April 20, 2001
ANZ and AMP merger rumoured

Rumours of a strategic alliance between Australia's bisggest insurer and the country's fourth-largest bank are growing with the two parties said to be close to [...]

POSTED ON April 11, 2001
RBA cuts rates 0.25 percent

The Reserve Bank of Australia has cut official interest rates by a quarter of one percentage point to 5.5 per cent. This will flow through [...]

POSTED ON March 9, 2001
Solicitor mortgage schemes under investigation

The Australian Securities and Investments Commission has launched a major investigation into mortgage investment schemes managed by solicitors and finance brokers, the Sydney Morning Herald [...]

POSTED ON February 28, 2001
Know what interest rate is being charged

Make sure that you determine the actual interest rate being charged in any leasing deal you consider. Those offering you lease finance will invariably avoid [...]

POSTED ON February 12, 2001
Don’t go up with the balloon

If leasing, know what 'residual' or 'balloon' payment will be required from you at the end of the lease term. This may well have a [...]

POSTED ON February 12, 2001
Have the right information when applying

What you will be required to supply in any application for lease finance will depend on whether the lease is for personal or business use. [...]

POSTED ON February 12, 2001
Get independent advice

Consult your accountant or financial adviser as to what tax implications there may be before committing to lease finance. Don't rely on the lease provider [...]

POSTED ON February 12, 2001
Lease or loan?

Leasing is really just another form of borrowing which may or may not be suitable for your needs. Refer to our Tips & Tricks for [...]

POSTED ON February 12, 2001
Xmas mobile shoppers beware

Consumers buying mobile phones for Christmas should check and understand the terms of their phone contract before signing warns the Australian Communications Authority (ACA). The [...]

POSTED ON December 12, 2000
Record health fund profits prompt payout call

Private health funds are under increased pressure to help out consumers and struggling private hospitals after recent figures indicate a record $343 million profit for [...]

POSTED ON December 11, 2000
Anger at Kurnell airport plan

The Federal Government's plan for a second Sydney airport in Kurnell – supported by Prime Minister John Howard – has been attacked by local residents [...]

POSTED ON December 11, 2000
Chat sites back under the hammer

Criminal lawyer, Chris Murphy, is launching a defamation action against online stock chat forum Stockhouse. It appears that the abuse and allegations against Murphy were [...]

POSTED ON December 11, 2000
Virgin Blue arrives in Adelaide

Virgin Blue commenced its Brisbane to Adelaide service yesterday. The red Boeing 737 didn't have one empty seat and flew under an archway of water [...]

POSTED ON December 11, 2000
Colonial customers to move to CBA

By the end of January 2001, Colonial Bank customers will be able to do their banking at Commonwealth Bank branches. CBA has announced plans to [...]

POSTED ON December 8, 2000
Banks will cooperate on fees says ACCC

According to the Australian Competition and Consumer Commission (ACCC), the major banks – who the ACCC have accused of fixing credit card interchange fees – [...]

POSTED ON November 28, 2000
Dial a pop star

Telstra has struck a deal with ARIA and record label, Transistor Music, to bring PhoneAway cards to the public. The new cards have been developed [...]

POSTED ON October 12, 2000
Happy about net and mobile services

A recent survey by the Australian Communications Authority (ACA) indicates that the majority of Australian consumers are satisfied with their mobile and internet services. Figures [...]

POSTED ON October 12, 2000
New stock exchange for Bendigo

Targeting the rural sector, the Bendigo Stock Exchange will open for share trading once funding is established. Six companies and around 12 brokers are needed [...]

POSTED ON October 12, 2000