A bank cheque is drawn straight from your account and removes the need to lug around a large wad of cash for a downpayment on a new home or buying a secondhand car. But this convenience comes at a cost.
NAB and Westpac have jacked up owner-occupier and investor home loan rates, and we can safely predict Commonwealth Bank and ANZ will follow suit. But there is one bright spot for borrowers.
CBA will suspend new lending for investors looking to refinance as part of a crackdown on investor lending, believed to be behind housing’s rapid growth.
Will the recent inquiry into the banks prompt real change, or is a banking royal commission next on the agenda?
Now that the RBA’s credit card surcharge ban has come into effect, which retailers have passed the extra costs onto consumers?
The Woolworths Rewards scheme is being revamped yet again. How does it stack up against Coles’ Flybuys customer loyalty program?
A rate-rigging court case against NAB, ANZ and Westpac highlights the need for a royal commission into the banks, says Mozo director Kristy Lamont.
It’s a red alert for savers: with interest rates at historical lows, 95%-plus savings accounts are now losing people money in real terms.