Bank Account News Archive History

Bank Account News 

• 

  Supers returning to peak performance, but remember savings!

  After absorbing the heavily blows inflicted by the global financial crisis, superannuation balances showed signs of returning to their peak in March.   Median balanced investment options came close to $167,000 in October ...

  Wed 16th May, 2012
• 

  Savings accounts and term deposits still viable for savers

  The cut in interest rates of 0.5 percentage points to 3.75% has been positive news for mortgage holders, but what now for savers?   Three of the big four banks have already announced that they will pass on between 64% and ...

  Thu 10th May, 2012
• 

  Shock fall in unemployment may hinder further rate cuts

  Falling unemployment may prevent the Reserve Bank from cutting interest rates further, which may come as a disappointment to those with large mortgages, but may equally come as a relief to savers.     Analysts had ...

  Thu 10th May, 2012
• 

  Borrowers can take advantage and pay off more

  The recent cut in interest rates allows consumers the perfect chance to pay more off their mortgages, experts say.   Following the Reserve Bank’s recent interest rate cut of 50 basis points, almost all of the major banks ...

  Tue 8th May, 2012
• 

  ANZ likely to withhold some of the RBA’s interest rate cut

  Despite reporting a profit of almost $3 million in six months, ANZ bank is likely to follow NAB’s lead and withhold a sizeable portion of the Reserve Bank’s 0.5% cut in interest rates made this week.   Chief Executive ...

  Wed 2nd May, 2012
• 

  RBA surpasses expectations to cut rates by 0.5%

  The Reserve Bank has gone further than many expected, reducing interest rates by half a percentage point to 3.75%. The bank cited the weak economic conditions and low inflationary pressures for the large expansionary measure. ...

  Tue 1st May, 2012 (2 Comments)
• 

  NAB takes a hit from poor-performing UK banks

  Shares in National Australia Bank have taken a hit after it announced that losses in its UK operations will result in the loss of 1,400 jobs.   Clydesdale and Yorkshire Banks in the UK, which have been Australian owned for ...

  Mon 30th Apr, 2012
• 

  Interest rate cuts expected. What now for savings?

  Economists believe that a May interest rate cut will be followed by at least two more in the upcoming months owing to a low inflation forecast. How is that set to affect savings?   There is universal belief that the board ...

  Mon 30th Apr, 2012
• 

  Low inflation prompts interest rate cuts

  Weaker than expected inflation readings have cleared the way for the Reserve Bank to lower interest rates when the committee meets next week.   Consumer Price Index data shows inflation to have slowed considerably, with a ...

  Tue 24th Apr, 2012
• 

  Aussies are still not making the most of their savings

  Aussie savers are missing out on large amounts of interest every year, owing partly due to the rollover of term deposits that pass without action.   The market for term deposits is worth over $700 billion dollars, as savers ...

  Fri 20th Apr, 2012
• 

  Comment: Banks taking lies a step too far?

  In the 1999 film Entrapment, Catherine Zeta-Jones plots to steal $8 billion. She's negotiating the help of genius partner-in-crime, Sean Connery, who reasons for his equal share: "What can you do with $7 billion that you ...

  Tue 17th Apr, 2012
• 

  St George bucks trend to cut home loan rates

  In a week of negative headlines, with ANZ raising mortgage rates in spite of the Reserve Bank, St. George Bank has capitalised by cutting its fixed-rate home loan products.   St. George, a subsidiary of Westpac, has cut ...

  Mon 16th Apr, 2012 (1 Comment)
• 

  ANZ defies soaring profits and the RBA to raise mortgage rates

  Despite reporting $1.48 billion in first-quarter profits, ANZ has leant again on the crisis in Europe to justify another shock rise in its variable mortgage and business lending rates.   ANZ’s 0.06% increase will see its ...

  Fri 13th Apr, 2012
• 

  Term deposits help savers achieve more

  With banks clamouring for sources of funding, savers are beginning to see better returns from term deposits.   Last week, Which4U identified how playing the banks at their own game could reap some reward for savers. [See ...

  Wed 4th Apr, 2012 (1 Comment)
• 

  Ex-employees win payout from St George Bank

  118 former staff of St. George Bank, mostly traders and executives, could be eligible for a huge payout after a court case sided against the bank.   Yesterday, St. George Bank agreed to pay seven former staff a bonus that ...

  Mon 2nd Apr, 2012
• 

  St. George customers targeted by scammers

  Customers of St. George Bank have been warned to stay vigilant in light of an email scam.   The bank’s security systems have detected a fraudulent email campaign asking for customers’ login details. The bank said that ...

  Fri 30th Mar, 2012 (1 Comment)
• 

  Inflation and Savings

  It’s fair to say that everyone has concerns over the rising cost of living. Some costs are soaring in Australia while others remain bound by competition. What will give way?   It’s been recognised by retailers and ...

  Wed 28th Mar, 2012
• 

  Playing the game reaps rewards for savers

  Savers able to play the banks at their own game are in a good position to make the best of their savings.   Since the onset of the global financial crisis, Australians have scrutinised their own consumerist habits and are ...

  Mon 26th Mar, 2012
• 

  Banks resorting to risky loans in stalling housing market

  Banks are offering loans at almost 100% of property values to kick-start a low performing market.   Over two-thirds of lenders are offering home loans of up to 95% of the value of the property, a rise on two years ago.   ...

  Mon 19th Mar, 2012
• 

  Withdrawal fees rising at ATMs - for now

  ATM fees are set to rise again to near-record levels, but a new advertising model for ATMs could be set to offer free or discounted withdrawals.   Two independent ATM operators, Cashcard and Customers Ltd, who own almost a ...

  Tue 13th Mar, 2012 (2 Comments)