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
Rates down to 2 per cent by June

Investors trading on the Sydney Futures Exchange yesterday estimated the chances of a 1.0 per cent rate cut next week by the Reserve Bank at [...]

POSTED ON January 30, 2009
Three big rate cuts coming soon

The Reserve Bank of Australia is expected to cut interest rates three times in the next four to five months. Yesterday's inflation figures indicated that [...]

POSTED ON January 29, 2009
One per cent rate cut expected

Economists are expecting the Reserve Bank of Australia to cut interest rates next Tuesday by a full one per cent despite fears inflation may not [...]

POSTED ON January 28, 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
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
Rates to fall to three per cent

National Australia Bank is now predicting interest rates will fall further than previously expected early next year. Markets are pricing in rate cuts of 1.5 [...]

POSTED ON December 17, 2008
RBA makes rate cuts crystal clear

The minutes of the Reserve bank board meeting from August show that the bank intends to cut rates at its September board meeting. Analysts said [...]

POSTED ON August 20, 2008
Swan tells the banks

Short term debt prices are coming down so banks should be looking to cut their interest rates to borrowers said the Treasurer Wayne Swan yesterday. [...]

POSTED ON August 18, 2008
Banks told to pass on cuts

The deputy governor of the reserve Bank, Ric Battellino, said if banks did not pass on rate cuts to customers, the Reserve would keep cutting [...]

POSTED ON August 15, 2008
Rates to fall to five per cent next year

Interest rates will be cut by the Reserve Bank by half a per cent in September despite stronger than expected jobs data released yesterday, says [...]

POSTED ON August 8, 2008
Banks may not pass on rate cuts

New mortgage sales fell in the first half of 2008 by 25 per cent according to the Australian Bureau of Statistics. CommSec said the figures [...]

POSTED ON August 7, 2008
Banks can lower interest rates

Interest rates could fall by more than the quarter of a per cent the Reserve bank usually moves rates by. The 90 bank bill swap [...]

POSTED ON August 7, 2008
Next rates move could be down

After 12 official interest rate rises in a row, the governor of the Reserve Bank, Glenn Stevens, has hinted that the next move in official [...]

POSTED ON July 17, 2008
Extra bank margins yet to affect households

The domestic economy is yet to fell the impact of the additional margins banks have imposed on consumer and business loans, over and above the [...]

POSTED ON July 8, 2008
More credit trouble ahead

Banks have still not passed on the full 100 basis point rise in their cost of credit. The smaller lenders will continue to have trouble [...]

POSTED ON July 8, 2008
Interest rates to remain high

The restrictive monetary policy that Australia has shifted to over the last two years is, if anything, going to get more restrictive said the governor [...]

POSTED ON June 16, 2008
Pressure to lift rates easing

Rising unemployment numbers are easing the pressure on the Reserve Bank to lift interest rates above 7.25 per cent despite rising inflation. Employment levels fell [...]

POSTED ON June 13, 2008
Rates on hold but future uncertain

The Reserve Bank left interest rates unchanged at its meeting yesterday, but governor Glenn Stevens has left open the possibility of further rate rises this [...]

POSTED ON June 4, 2008
ANZ warns of two rate rises

Economists at the ANZ Bank are now tipping the Reserve Bank will increase rates twice more this year which would take the standard variable rate [...]

POSTED ON May 28, 2008
Debt troubles for young people and men

A study of consumer debt has found that people under the age of 34 account for more than half of all debts referred for collection. [...]

POSTED ON May 21, 2008
Reserve ponders more rate rises

Further interest rate rises are on the cards as minutes from the Reserve Bank's last board meeting reveals that it remains concerned that it has [...]

POSTED ON May 21, 2008
NAB text banking

National Australia Bank has launched its SMS banking service which allows customers to receive an account balance or mini-statement and transfer funds between linked NAB [...]

POSTED ON May 20, 2008
Inflation pressures remain

While economists expect there is enough evidence of slowing in the economy to prevent another rate rise today, the Reserve Bank will no doubt be [...]

POSTED ON May 6, 2008
Building approvals take a tumble

The chance of another rate rise when the Reserve Bank meets again next week has been reduced following the release of figures that show a [...]

POSTED ON May 2, 2008
Higher rates inflate inflation figure

Analysts are calling on the Reserve Bank to take the effect of higher interest rates into account when considering how to respond to an inflation [...]

POSTED ON April 30, 2008
Loan slump not taken personally

Figures released yesterday have indicated that personal finance was on the rise in February, trending away from housing and commercial finance. Soaring interest rates are [...]

POSTED ON April 16, 2008
RBA sees inflation picture changing

The Reserve Bank of Australia is forecasting inflation to come down far quicker than previously anticipated and have cautiously indicated that rates may have peaked [...]

POSTED ON April 16, 2008
Loan Repayment Calculator

Work out what your minimum weekly, fortnightly or monthly loan repayments would be for any borrowed amount. Note: The results from this calculator should be [...]

POSTED ON December 11, 2007
Extra Repayments Calculator

How much time and interest can I save by paying more than my minimum repayment? Note: The results from this calculator should be used as [...]

POSTED ON December 11, 2007
Term Deposit Calculator

Project your interest earnings from term deposits. The result will differ depending on the frequency that interest is calculated and credited to your account. Note: [...]

POSTED ON December 11, 2007
Savings Calculator

Project how much you can accumulate over time from an initial contribution and regular ongoing deposits. Note: The results from this calculator should be used [...]

POSTED ON December 11, 2007
Credit Card Calculator

Find our how much time and interest you can save by paying more than your minimum monthly repayment. Note: The results from this calculator should [...]

POSTED ON December 11, 2007
Complaints build as housing boom grows

The property boom has led to rise in the number of complaints registered with the Queensland Office of Fair Trading. Consumer complaints against real estate [...]

POSTED ON August 29, 2003
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
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
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
Qantas serves up expired food

1,000 out-of-date Qantas meals were thrown out after staff refused to serve them. However, staff have claimed that meals that were either out-of-date or on [...]

POSTED ON October 11, 2000
GST refund mess

Delays in GST refunds may cause some businesses problems with their cash flow. According to tax advisers the ATO is yet to pay out GST [...]

POSTED ON September 28, 2000
Mortgage brokers moving in

The recent rise of mortgage brokers - intermediaries that offer loans from a variety of lenders instead of only one – has helped ANZ and [...]

POSTED ON September 28, 2000
NAB cracks down on credit fraud

Using software already in use in the US, the National Australia Bank is cracking down on credit card fraud saving $2 million in the last [...]

POSTED ON September 28, 2000
WAP banking still needs work

After Westpac launched its WAP service, the NAB and ANZ have completed trials for their WAP programs but are yet to officially launch them. The [...]

POSTED ON September 27, 2000
ATMs at churches

In an attempt to re-establish the local parish as the centre of the community, The Church of England is considering installing cash-dispensing machines in its [...]

POSTED ON September 26, 2000
Suburban anger at major banks

Communities in Sydney’s inner west are following in the footsteps of their rural counterparts by attempting to establish their own community banks with Bendigo Bank. [...]

POSTED ON September 26, 2000
$200bn customers for NAB

The NAB’s Global Securities Services business has scored two new lucrative clients, Brown Brothers Harriman and Mellon Trust. NAB’s assets under custody in Britain could [...]

POSTED ON September 26, 2000
Westpac open on Sundays

From the 17th September to October 1, Westpac branches in the CBD, Manly, Bondi and Kings Cross will open for trading each Sunday. Manly, Bondi [...]

POSTED ON September 25, 2000
Treasurer asks NAB to explain

Federal Treasurer Peter Costello has called for an explanation from the NAB regarding its decision to close 100 of its branches and to increase fees. [...]

POSTED ON September 22, 2000
Credit card bank back down

After the ACCC threatened legal action against the major banks for fixing of credit card 'interchange’ fees (charges between banks for processing transactions on each [...]

POSTED ON September 22, 2000
Qantas passengers go hungry

In an ironic twist in the current discount airfare war, Qantas was forced to run several domestic flights last night without meal services. A snap [...]

POSTED ON September 21, 2000
ACCC points to card fees compensation

The ACCC has raised the possibility of consumers receiving compensation from the banks for being charged excessive interchange fees on credit card transactions. Mr Allan [...]

POSTED ON September 20, 2000
NAB gets thumbs up from analysts

Following NAB’s announcement of fee increases and branch closures, the bank’s shares rose 46 cents to $27.12 and analysts named it their top pick in [...]

POSTED ON September 20, 2000
NAB to raise fees and shut branches

The National Australia Bank has announced its intention to raise its bank fees and to close 100 of its metropolitan branches. The exact branches targeted [...]

POSTED ON September 18, 2000