MORE STORIES

Deeming rates for Age Pension

Is deeming rate cut on the cards?

News that the RBA has cut the cash rate to a record low of two per cent may have mortgage holders smiling, but the news is much less palatable for savers.

Finance

Spotting fake banknotes

Australian banknotes are very difficult to copy and most people will never see a counterfeit note, but it can and does happen.

Banking & Investment

Big banks delay rate cuts

Two of Australia’s biggest banks are expected to profit $68 million by not passing on the rate cut to customers until 17 days after the Reserve Bank decision.

News

Credit card reforms not working

Over the past year Australians have paid $800 million in credit card surcharges

Credit Cards

Credit card fees still too high

Although the RBA brought in new laws to stop excessive charges by retailers, it seems we’re still being slugged high fees when paying by credit card.

Interest rates at record low

Yesterday the Reserve Bank of Australia (RBA) decided to lower the official interest rate to the lowest level since 1960.

Big four banks in profits gouge

The big four banks are finding other ways to gouge customers

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.

Australia gets new money

The Reserve Bank of Australia (RBA) has been working for the last five years to create new banknotes. These will replace the Australian currency currently in circulation. Coins will not be affected, but the new banknotes are supposed to have a more “youthful” look.

Uncategorized

End of the credit card gouge

For years Australians have been paying over the odds for the convenience of paying by credit card. A new ruling by the Reserve Bank of Australia (RBA) means fairer surcharges will soon be on the cards.

People power

Interest rates are on the rise and the big four banks are taking no prisoners. Depending on which financial institution you bank with, your rate could have increased by as much as 10 basis points in the last week. This is despite the Reserve Bank of Australia (RBA) maintaining the cash rate at its last meeting.

Bank customers make the switch

In last year’s December quarter, more than 50,000 home-owners refinanced their mortgages with other banks, totalling $12.6 billion of mortgage business. This increase in switching was led by customers looking for a better deal.

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