OMG! ANZ Bank customers hit by huge new bank scam. An elaborate next generation banking scam is hitting email inboxes across Australia and experts are warning that this scam is extremely difficult to identify as a fraud. The official ANZ online banking website login page has been copied and recreated by criminals and it looks genuine. Victims are sent an email, apparently from ANZ informing them that $2542.75 has been taken from their account, with a link to internet banking. Email security company said this scam goes beyond traditional phishing frauds by including security questions. “This adds on to the sense of legitimacy evoked by the email as updates on account safety is a common notification.” ANZ said it would never send an email asking for account details and called on people who received a suspect email to report it to Scamwatch. Widespread confusion about credit card rewards. Most people with a credit card that features rewards or points schemes think they are getting no value from their rewards schemes or don’t know what dollar value they get from their credit card rewards. An ME Bank survey of 1000 credit card holders has found that many people are not getting much reward from their rewards cards. Just seven per cent of respondents said they received a benefit of more than $500. ME’s credit card specialist Christopher Mak told Banking Day that: “One in three people don’t understand what they’re getting from their rewards credit card. “It is a worrying sign,” said Christopher Mak. American Express and other credit card issuers have changed the points earns rate on rewards credit cards recently. InfoChoice helps consumers compare reward schemes on credit cards with a calculation on min spend required for a SYD-MEL return flight and the minimum spend required for a $100 reward. Compare rates, fees and features of cash back and rewards credit cards from Australia’s major banks, credit unions and other credit card issuers here. NAB now offers Apple Pay. National Australia Bank (NAB) is the latest bank to announce it is offering Apple Pay to its Visa debit and credit card customers. That means NAB customers can pay for goods and services in store by tapping their iPhone (iPhone SE, iPhone 6 and later) or Apple Watch on an Eftpos terminal. NAB’s Apple Pay also features the ability to make in-app and online purchases directly from an online wallet linked to a Visa credit or Visa debit card account. NAB customers wanted the Apple payment functionality and the bank responded to those calls said NAB’s Chief Customer Experience Officer Rachel Slade. “We’ve been hearing from customers that they want Apple Pay, said Ms Slade, “We are investing significantly in our technology to support our customers to manage their money how they choose.” There are now more than 60 Australian banks and credit unions that offer Apple Pay for the customers. NAB is contacting their customers to inform them how to access the new service. Auction clearance rates in Sydney and Melbourne show clear signs of a recovery in the residential property market. The preliminary auction clearance rate in Sydney for the weekend of Saturday 25th May 2019 was up to 69.9 per cent, while in Melbourne the rate rose to 62.9 per cent according to data released by CoreLogic. Clearance rates are now at their highest level since April 2018. 2,041 properties went under the under the hammer, a big jump up from 930 the week earlier. Westpac senior economist Matthew Hassan pointed to possible rate cuts and the election of the Liberal government as possible reasons for the good results but was reluctant to predict a clear recovery in housing markets. “It remains to be seen how much ‘follow through’ this move has,” said Mr Hassan.