Banking News

Using PayPal to buy nappies
Sunday November 22
PayPal will sign up every single Australian merchant now selling anything online within the next couple of years, if the new managing director meets his goals.

Country ATMs charging $2.50
Sunday November 22
The fee for using an independently owned ATM is on the rise in distant locations. Customers Limited, the largest owner of ATMs, says its fees are now $2.50, up from $2.00.

Interest free loans from Westpac
Sunday November 22
Westpac has introduced interest-free green loans of up to $10,000 for approved homeowner applicants to improve their energy and water use efficiency in support of the Australian Government Green Loans Program.

AMP offering bonus savings rate
Sunday November 22
AMP Bank’s eASYSaver account is currently offering a bonus interest rate of 1.75 per cent on top of the its‘ standard rate of 3.30 per cent for new accounts opened before the end of the year.

RBA divided on rate rises
Sunday November 22
Some economists are predicting that the Reserve Bank may pause its rate rising agenda in December and hold the official cash rate at 3.5 per cent.

Rents up everywhere
Friday November 20
Rents on houses increased 3.4 per cent to $422 a week nationally over the 12 months to October, while they rose 4.1 per cent on apartments to $409 according to property research firm rpdata.

ING pays 50 cents for cash outs
Friday November 20
ING Direct’s Orange Everyday account offers fee free everyday banking with bonuses and rebates to encourage savings.

CBA Debit MasterCard gets Applause
Friday November 20
A Commonwealth Bank Debit MasterCard is available on two everyday accounts: the Smart Access (with a monthly fee of $4) and the Complete Access Account ($6 per month).

Young people in perpetual debt
Thursday November 19
Generation Y (people aged under about 30 years of age) are likely to have more problems paying off debts than young people have had in the past. An increase in part time work and a fall in hours worked means they have less means to repay debt.

Third rate rise coming in December
Thursday November 19
Financial markets have priced in a 60 per cent chance that the Reserve Bank of Australia will lift its cash rate for an unprecedented third month in a row on December 1.

Other News

• Pay growth falls to 2.9 per cent Wednesday November 18, 02:10 PM
• Banks still raking in the fees Wednesday November 18, 02:10 PM
• Bank chief’s pay to be limited Wednesday November 18, 02:10 PM
• Banks and government need to work together Wednesday November 18, 02:10 PM
• Fix your bad credit file now Tuesday November 17, 02:10 PM
• Melbourne auction clearances still above 70% Tuesday November 17, 02:10 PM
• Home renovations don’t pay off Tuesday November 17, 02:10 PM
• CommSec suffers as investors pull out Tuesday November 17, 02:10 PM
• Zero per cent on purchases for 6 months Monday November 16, 06:36 AM
• Tax on savings to be slashed Monday November 16, 06:36 AM