ASIC takes aim at banks who rely on fine print Product disclosures contained in ‘fine print’ at the bottom of advertisements and promotions for financial [...]

Is Facebook Libra falling apart? eBay, Visa, Mastercard and Stripe have joined PayPal in exiting the Facebook Libra coalition. There are now just two payments [...]

Millions of Aussies are switching banks 2.8 million Australians switched to new banks or financial providers for their home loans, credit cards and transaction accounts in the [...]

CommBank cuts fixed rates under 3% From today, Commonwealth Bank’s advertised 2 and 3 year (OO, P&I) fixed rates in the “Wealth Package” have been [...]

ANZ to pay more compo to customers ANZ Bank will pay remediation costs of $559 million to customers who have been charged fees wrongly on [...]

Commonwealth Bank wants to hear from customers Commonwealth Bank is sending 8.5 million letters to its customers today inviting them to participate in a customer [...]

More lenders cut home loan rates More lenders are announcing rate cuts following the RBA’s October rate cut of 0.25 percentage points on Tuesday. P&N [...]

Government tells borrowers – vote with your feet The treasurer Josh Frydenberg has again slammed banks for not passing on the full amount of the [...]

Scott Morrison says banks are ‘profiteering’ The Prime Minister Scott Morrison has slammed the big four banks for not passing on the RBA’s October rate [...]

Owner occupier rule change hits 100,000 borrowers Around 100,000 Australian home loan borrowers could be hit with interest rate increases on owner occupier mortgages after [...]

Sydney property prices are rising – at last After two years of falling home values, Sydney house prices are now rising again as buyer activity [...]

RBA expected to cut rates on Tuesday The Reserve Bank of Australia is expected to cut official interest rates this week, bringing the leading home [...]

Sydney no longer Australia’s most expensive housing market Sydney has lost its title as Australia’s most expensive city for homes to Byron Bay, population 30,000. [...]

Big banks cut savings rates ANZ Bank has cut savings account interest rates by 0.10 per cent. Westpac announced a cut of 0.10 per cent [...]

New monthly premium LMI launched Big lenders mortgage insurance provider Genworth announced the launch of a new LMI product not requiring the premium to be [...]

What is a ‘community bank?’ Bendigo and Adelaide Bank has lost its exclusive right to brand itself as a community bank following a ruling in [...]

Morrison government moves to limit cash The Morrison government has introduced a new bill to parliament to ban business cash transactions of $10,000 or more. [...]

What are the odds of winning Powerball? The Powerball jackpot this week is the biggest in Australian history at $150 million and one in three [...]

ING Savings Maximiser cuts maximum interest rate ING Australia have announced to their customers that the Savings Maximiser bonus rate is being cut from today, [...]

Borrowers switching to Principal & Interest Home loan borrowers are ditching interest-only loans as they look to reduce mortgage debt in the current low rate [...]

House prices are rising again The property downturn is over and house prices are set to surge up to 10 per cent in the next [...]

First Home Buyer Loan Deposit Scheme is coming soon The First Home Loan Deposit Scheme legislation will be introduced to parliament today to enable the [...]

CURRENCY CONVERSION RIP-OFF Big banks under sustained fire from regulators The big four banks and AMP Bank face 86 royal commission related investigations plus 59 [...]

ASIC appeals “Wagyu and Shiraz” ruling The corporate watchdog, the Australian Securities and Investments Commission, has lodged an appeal against a Federal Court decision in [...]

A new Aussie bank opens its (mobile) doors Sydney-based Xinja Bank has begun marketing transaction accounts to customers after securing a full banking licence from [...]

Westpac takes axe to home loan rates Westpac has entered the home loan rate cutting war by announcing some extraordinary low rates for first home [...]

Points rewards schemes are hard to understand 90 per cent of Australian consumers are members of at least one loyalty scheme. The average Aussie has [...]

Which banks are Australia’s customer favourites? Teachers Mutual bank, ING and Bank Australia are Australia’s favourite banks, measured by how willing their customers are to [...]

Sydney and Melbourne lead home price turnaround Average home prices in Australian capital cities rose during August, for the first time since August 2017, according [...]

New Aussie bank taking deposits from tomorrow Australia’s newest business bank, Judo Bank, is opening for deposits with a line of competitively priced term products [...]

Borrowers are not finding the cheapest home loans “We believe that some consumers are likely taking out loans when cheaper alternatives exist,” said the latest [...]

Older Aussies still repaying the mortgage Average mortgage debt among older Australians, over 55 years, has soared from $27,000 to more than $185,000, according to [...]

Car loan rates crash to under 5% Peer-to-peer lender RateSetter has dropped its car loan interest rates. RateSetter’s new advertised rates start from 4.69 per [...]

New bank 86 400 is now up and running Neo bank 86 400 is offering services to the public just five weeks after securing a [...]

MyState expands out of heartland MyState is now selling more loans and financial products outside of Tasmania than within its home state. MyState now offers [...]

Not everyone likes the new Commbank app The Commonwealth Bank’s new app, CommBank app 4.0 is being hailed as a transformative step on the road [...]

PayID hacked and customer data leaked An unnamed credit union has suffered a security breach and has lost “a number of PayID records and associated [...]

RBA demands banks deliver real-time payments The Reserve Bank has issued a firm warning to the big banks that they will face huge fines unless [...]

Citi credit cards get a Buy Now Pay Later option Citi Australia cardholders will get the option of paying for goods from big online retailer [...]

New Westpac loan rules in effect tomorrow Westpac has announced new loan rules that come into effect tomorrow for all new Westpac, St George, Bank [...]

13% of Aussies are switching banks Trust in Australia’s banks and the financial services industry has dropped following the Hayne Royal Commission according to the [...]

Global markets are falling The Australian stock market’s key index, the ASX200 fell more than 100 points on opening today and is now below the [...]

One debt collector is the king of bankruptcy The Financial Counsellors association, the Consumer Action Law Centre and the Financial Rights Legal Centre are all [...]

Aussie John wants his home loans back “Aussie” John Symond, the founder of non-bank lender Aussie Home Loans has suggested he wants to buy back [...]

Bankwest slashes loan approval times Bankwest has announced new mortgage approval timeframes to try and lure customers who don’t want to wait weeks for loan [...]

Accept payments on your phone with NAB National Australia Bank (NAB) and Melbourne based payments company Quest are trialling a new payment system that will [...]

Commbank to savers: brace for more pain Commonwealth Bank chief Matt Comyn expects the Reserve Bank to cut interest rates by another 0.25 percentage points [...]

Big Aussie Bank for sale – going cheap AMP has refused to comment on speculation it is selling its retail banking arm – AMP Bank. [...]

Most borrowers are clueless about their loan rate Three quarters of Australian borrowers don’t know their home loan interest rate according to new research released [...]

Auction results from Saturday 3 August Auction clearance rates continue to indicate a strengthening property market with CoreLogic reporting that 68.3 per cent of 1100 [...]

Bank customers get rights to own data Open Banking laws passed by parliament yesterday give consumers more rights to access their own data held by [...]

Commbank app and Netbank crash Commonwealth Bank’s mobile banking app, the Commbank app, and its internet banking portal, Netbank, both went offline yesterday afternoon affecting [...]

ASX sets new high, after 12 long years The key Australian sharemarket index, the ASX 200, closed at 6845.1 points yesterday, a new record high. The ASX [...]

Fixed rates fall under 3 per cent Fixed home loan rates continue to fall as cuts sweep through the mortgage market. There are now six [...]

Limit $100 notes says government taskforce Australians are keeping wads of $100 and $50 notes hidden away and the government’s taskforce into the black economy [...]

Google owes you $1,000 Google must compensate all internet users $1000 for breaching their privacy and selling their information to advertisers says global cyber security [...]

More rate cuts are coming in 2019 The Reserve Bank will cut interest rates in October 2019 and February 2020, Westpac economists predict, as unemployment [...]

Commonwealth Bank cuts savings account rates Commonwealth Bank has cut savings rates by up to 0.25 percentage points. Australia’s biggest bank has more than $265 [...]

Westpac slashes packaged home loan rate UNDER 4% Westpac has almost doubled the rate discount on packaged home loans to 1.29 per cent from 0.7 [...]

Has Mack Horton started a trade war with China? China’s state-run media is demanding an apology from Australia after an incident at the World Swimming [...]

Hong Kong protests ignite property market in Australia Foreigners are back in the Australian property market after largely disappearing in 2018 and early 2019 according [...]

The Great Australian Dream is alive - First home buyers see the light Increasing optimism in property markets is pointing to better days ahead for [...]

Macquarie Bank cuts home loan serviceability test Macquarie Bank has cut its minimum home loan serviceability assessment rate from 7.25 per cent to 5.3 per [...]

Banks told: Get on top of fraud Banks and other financial institutions have been told firmly by the banking industry ombudsman to do more to [...]

The deeming rate cut explained Pros and cons of the deeming rate cuts Centrelink’s deeming rate has been cut, after two recent RBA rate cuts [...]

First home buyers are BACK! New home loan sales are falling and first home buyers are jumping in to take advantage of cheap loan deals [...]

The end of the comparison rate? The competition regulator will introduce a new “online tool to improve the transparency of the mortgage interest rates paid [...]

The big bank “tax on households” revealed The big four banks have withheld the equivalent of eight separate rate cuts since the global financial crisis, [...]

Westpac pays compo to 40,000 customers Westpac is refunding tens of thousands of customers who have been overcharged interest on their loans. 40,000 borrowers on [...]

Suddenly getting a home loan just got easier The 7.25 per cent assessment for home loan applicants has been dropped by the Australian Prudential Regulatory [...]

The lowest variable home loan rate ever is 2.89% Home loan rates continue to fall as the Reserve Bank brings down the official cash rate [...]

Westpac partly withholds rate cuts – again Westpac has announced a rate cut of 0.20 percentage points on its range of owner occupier loans and [...]

RBA cuts rates and is prepared to cut again The Reserve Bank of Australia yesterday cut the official cash interest rate by 0.25 percentage points [...]

$1080 coming soon to your bank account Lower and middle-income Aussies could see $1080 in their bank accounts as early as next week thanks to [...]

New banking code in force today A new Banking Code of Practice comes into force today, the 1 July 2019. The new code “represents the [...]

Macquarie axes international card fees Macquarie Bank has removed international transaction fees on overseas purchases made on Macquarie Bank branded credit cards. Macquarie Bank has [...]

UBank cuts savings account rates UBank, a long-time market leader in the at-call savings market, has slashed interest rates on its USaver accounts. The USaver [...]

Which bank has more system outages than any other? There were more than 300 service disruptions at Australian banks and other financial institutions in the [...]

Aussies choose the loo for banking One in five Australians do their banking on the toilet using their mobile phone, according to a new survey [...]

Westpac backs down on lowering serviceability requirement Westpac announced on Thursday afternoon that it would allow loan officers some flexibility to approve home loan applicants [...]

Qantas is ‘ripping off’ frequent flyers with QFF changes Qantas’ changes to QFF points is effectively ‘ripping hundreds of millions of dollars off its frequent [...]

It’s a borrowers market as home loan sales crash Sales of new home loans has slumped. The latest data from the Australian Prudential Regulatory Authority [...]

Two more rate cuts expected for Christmas The Reserve Bank has strongly signalled more rate cuts will be delivered in the next few months. “A [...]

NAB loan customers can join class action for compo Law firm Slater & Gordon is running a class legal action claiming that National Australia Bank [...]

ING cuts savings rates by 0.25% ING has joined Commonwealth Bank, National Australia Bank and Suncorp in cutting at-call savings account interest rates. ING is [...]

WARNING: Cardless Cash scam offers $500 Commonwealth Bank is warning its customers about scam SMS text messages offering $500 and featuring a link that takes [...]

Savers need to take action NOW Online savings account rates offered by the big four banks are now all set at 0.5 per cent p.a. [...]

Buying vs renting – Buying is the new winner! Falling house prices and lower interest rates have combined to make buying a home much more [...]

More NAB home loan borrowers will get compo National Australia Bank will pay back almost 5,000 more home loan customers who were overcharged interest. The [...]

ANZ reacts to criticism on interest rates ANZ Bank’s chief executive Shayne Elliott said his bank’s controversial decision not to pass on the full June [...]

Westpac targets property investors with rebates Westpac is offering reduced rates and other incentives to try and convince property investors from other banks to refinance [...]

Which lenders have passed on the RBA rate in FULL? The Reserve Bank of Australia cut the official cash interest rate in Australia by 0.25 [...]

Banks have a ‘responsibility” to pass on rate cuts Treasurer Josh Frydenberg told a conference recently that banks and other lenders “have an economic and [...]

Which banks are attracting new customers? The latest APRA monthly banking statistics shows the big banks lost market share to challenger banks and other lenders [...]

First lender smashes through 3 per cent barrier The first lender in Australia to announce a retail home loan rate under three per cent is [...]

New record low home loan rate announced Two lenders have already announced significant interest rate cuts, well ahead of an expected RBA rate cut next [...]

Which bank has the most satisfied customers? Customer satisfaction with the big four banks declined sharply during and following the 11-month Hayne Royal Commission into [...]

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 [...]

Big banks announce home loan rule change for self-employed borrowers Westpac and its subsidiaries, Bank of Melbourne, BankSA and St George Bank have announced major [...]

Tough mortgage buffer rules under fire Get ahead of the game by catching up on the latest home loan news, check out our range of [...]