How 'honest' would you be?

If you found out that there was no limit to what you could withdraw from your bank account, even though you had no money, would you keep spending? n n


Banks cashing in on 'lazy' customers

We’re all told that if we don't like or aren’t happy with our banks that we should simply make the switch, yet only 40 Australians per week actually make the move.


Big banks secretly reduce term deposit ‘bonus’ rates

The charm offensive of the big banks is over, with the much-trumpeted August increase in term deposit rates now reversed.


CBA chief Ian Narev combats allegations of poor practice

Comm bank chief, Ian Narev, is paid twice the amount per week that the average Australian earns in a year. Yesterday he fronted a Parliamentary committee to answer allegations of seriously poor banking practice.


CBA chief Ian Narev’s $12.3 million pay packet

Commonwealth Bank chief Ian Narev collected $12.3 million for the financial year, soaring from last year's $8 million pay day.


PM Turnbull demands big banks to pass on full rate cut

After the big four banks refused to pass on the full 25 basis points rate cut on Tuesday, Prime Minister Malcolm Turnbull has demanded that they pass on the full rate cut.


Facebook selling your data to banks

Facebook has signed a two-year agreement with Mastercard which will allow the company to start mining Facebook users’ activity information to sell on to banks.

Coles to become a bank

Retail giant Coles is in the process of applying for a banking licence

Don’t believe what the banks tell you

Over the last 16 months, the Reserve Bank of Australia (RBA) has continued to lower the cash rate, with the rate now at 3 per cent – 1.75 percentage points below what it was in November 2011. However, the big four banks have failed to keep pace, quoting ‘high funding costs’ as the reason.

Government grab for inactive bank accounts

As of May this year any bank account which has not seen activity for three years can be transferred into the Government’s hands. Previously the account had to have been inactive for seven years, but the Federal Government rushed the legislation amendment through late last year in a bid to raise $109 million this financial year (it is unclear how they have arrived at this figure).

Banking & Investment

Are your savings safe?

The collapse overnight of financing group Banksia Securities could see investors lose $660 million dollars. This serves as a timely reminder to check if your savings are safe.

Banking & Investment

Making the switch easier

Only five per cent of Australians switched banks last year, despite reforms to make the process simpler. If you’re unhappy with your bank, mortgage lender or credit card provider, now is the time to make the move.

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