Bank Account News Archive History

Bank Account News 

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  Save emergency cash, say financial advisors

  Consumers are being advised to set cash aside in case of unexpected redundancies.   Some sections of the economy are still under threat from potential job-losses. The retail industry continues to suffer from poor high ...

  Wed 8th Feb, 2012
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  Surprise as Federal Bank leaves interest rates unchanged

  There was a note of surprise as the board of the Reserve Bank decided to leave interest rates unchanged at 4.25% during their first meeting of 2012.   Reserve Bank Governor Glenn Stevens referred to progress in Europe, ...

  Tue 7th Feb, 2012
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  Online scam leaves would-be renters high and dry

  An online scam has conned potential tenants desperate to rent a property out of $40,000 in 2011.   Scammers are posing as landlords on popular informal property listing sites to offer prime properties for a knockdown rental ...

  Fri 3rd Feb, 2012
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  Fix term-deposit rates before banks cut them in advance

  The markets believe that banks are set to move pre-emptively and sever savings rates ahead of another predicted cut in federal interest rates when the Reserve Bank meets next week.   Savers may be running out of time to ...

  Thu 2nd Feb, 2012
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  Australian banks brace themselves for stand-off

  Australian banks are bracing themselves for an uncomfortable stand-off should interest rates be lowered again by the Reserve Bank on 7th February.   The reluctance of big banks to pass on the December interest rate cut ...

  Wed 1st Feb, 2012
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  Easing inflation signals hope for interest rate cut

  News that inflation fell to 3.1% in the year to December has given further hope to homeowners awaiting a further interest rate cut.   The consumer price index was unchanged in the final quarter of 2011, figures from the ...

  Thu 26th Jan, 2012
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  It's decision time for savings

  Return on investments has fallen considerably in the last 18-24 months, and with many anticipating further central rate cuts in the coming months, consumers must decide whether to stick or twist.   The market for term ...

  Tue 24th Jan, 2012
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  Job cuts put account security at risk, staff warn

  A surge in fraud could be imminent, ANZ staff have warned, after the bank decided to cut 16% of its fraud team by the end of March.   There are also plans afoot to shift jobs offshore to the Philippines from the specialised ...

  Thu 19th Jan, 2012 (2 Comments)
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  Feeble confidence to prompt further rate cuts in 2012

  Despite a small improvement in consumer confidence at the end of 2011, employment prospects are likely to prompt further interest rate cuts in the near future.   The two consecutive federal interest rate cuts have shown a ...

  Wed 18th Jan, 2012
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  Despite record profits, ANZ begins slashing jobs

  Fury has erupted as ANZ confirmed that the process of axing staff had begun in Melbourne, despite the bank posting record profits of $5.36 billion in 2011.   Last week, it was announced that banks are set to slash jobs in ...

  Tue 17th Jan, 2012
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  Big banks will slash jobs to save profits

  Australia’s biggest banks are set to shed thousands of jobs in a desperate bid to cut costs and maintain their record profitability.   Despite all of the Big Four banks announcing record profits (between $5.36 billion and ...

  Mon 9th Jan, 2012
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  New Year’s Resolutions: Are we saving?

  Almost a week into the New Year, it’s time to make a check up on the progress of New Year’s resolutions. Are we saving?   A wide-reaching survey by online bank ING Direct suggested that, of the two in three Australians ...

  Thu 5th Jan, 2012 (1 Comment)
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  Big bank popularity holds firm despite setbacks

  All of the Big Four banks (ANZ, CommBank, Westpac, NAB) have encountered problems over the past twelve months, but customers are still happy with their level of service. Despite a number of technical glitches, security flaws, ...

  Wed 4th Jan, 2012
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  Older children / Young adults disinterested in Christmas

  A degree of apathy is slipping over Christmas. Research reveals that younger children are receiving cash as a Christmas gift, while older children and young adults find the financial side of Christmas totally debilitating.   ...

  Wed 21st Dec, 2011 (1 Comment)
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  Struggling super funds falling in value

  Struggling superannuation funds are performing at their lowest level since 2008 thanks to the continuing fallout from Eurozone debt problems.   The fall in valuation of superannuation funds of around 2% this year ...

  Mon 19th Dec, 2011
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  Now ANZ hits a glitch

  Following Commonwealth Bank’s network failure yesterday, ANZ have been alerted to a security flaw which is set to affect its online banking service for weeks.   CommBank customers were without access to cash last night ...

  Thu 15th Dec, 2011 (1 Comment)
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  CommBank connection failure leaves thousands without cash

  Systems are back up and running at Commonwealth Bank after several hours of connectivity problems caused ATMs, ETFPOS and internet banking systems to crash.   Furious consumers turned to the internet to voice complaints ...

  Wed 14th Dec, 2011 (2 Comments)
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  Big four banks finally agree to interest rate cuts

  ANZ led the way earlier today as the first major bank to cut its mortgage rates. It was followed in succession by NAB, Commonwealth, and eventually Westpac.   All four banks have pledged to cut their variable mortgage rates ...

  Thu 8th Dec, 2011
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  Interest rate debate intensifies

  Interest rates are continuing to dominate the financial landscape in Australia, as pressure heaps on the major banks to pass on the December rate cut made by the Federal Bank.   Major banks have pocketed $24 billion in a ...

  Wed 7th Dec, 2011 (1 Comment)
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  Interest rates cut again, sparking a nervous wait

  As many predicted, the Reserve Bank of Australia (RBA) has cut interest rates to 4.25% at its December meeting. But it is not yet clear whether banks or consumers are set to benefit most.   After a long period of interest ...

  Tue 6th Dec, 2011 (1 Comment)