News Archive for May 2013

With the Australian dollar recently taking a sharp dive and expected to reach a 1 year low this week, travellers expecting to head overseas in the next few months might want to consider purchasing their travel money now, reports the News Limited Network.

Despite being good at topping up their savings accounts, a new survey by REST Industry Super has found that nearly two thirds of Gen Y have sleepless nights worrying over their finances.

A Queensland pensioner has emerged from heart surgery to find his savings account funds had been handed over to the Australian Securities and Investment Commission (ASIC), reports the News Limited Network.

ANZ has recruited the services of the supercomputer known as Watson, to assist bank account customers with queries regarding wealth management, reports Fairfax Media.

Following yesterdays minutes of the May meeting of the Reserve Bank of Australia (RBA), the general consensus amongst economists remains that another interest rate cut in 2013 is very likely.

Prepaid Visa and MasterCard debit cards are fast becoming the popular choice of travel money for Australians heading overseas.

Commonwealth Bank remains the frontrunner in the latest DBM Consultants' Business Financial Services Monitor (BFSM), making the Commonwealth Bank the undisputed champion of the business bank account world.

Google has announced a new feature to gmail that makes transferring money from your bank account to a friend or institution as easy as attaching a photo or file to your email, according to CNET.

The next big step for mobile wallets could be on its way with the news that EFTPOS, the electronic payment system for debit cards and credit cards, will soon be trialling its own version of a mobile payment system, according to Inside Retailing.

The ANZ bank announced a 0.27 percent interest rate cut to its standard variable home loan on Friday 10 May, going over and above the 0.25 percent rate cut announced by the Reserve Bank of Australia (RBA), reports Fairfax Media.

Australian's are expected to spend almost $1.4 billion on spoiling mum this Mother's Day, up 2.7 percent from 2012. And taking mum out for a meal will be the top way that Aussies choose to show their appreciation, according to the IBISWorld Mother's Day spending forecast for 2013.

Australians who 'set and forget' their savings could be missing a combined total of $4 billion a year in their savings accounts.

Anyone who bought US dollar travel money for their holiday before last Tuesday afternoon will patting themselves on the back. But before you go bragging to your friends about your wise tactical move, consider the 82 year old American, George Soros, accidentally pronounced dead a month earlier, has now allegedly made $18.65 million dollars profit gambling on the Australian dollar to plummet.

Home loan owners will be rejoicing over yesterday's news of the Reserve Bank of Australia's (RBA) decision to cut interest rates by 0.25 percent to a new record low of 2.75 percent. However the news is also highlighting a number of concerns.

To the jubilation of homeowners across the country, the Reserve Bank of Australia has today decided to cut the official cash rate by 25 basis points to 2.75%, taking the cash rate to a record low.

The Australian dollar is down ahead of today's interest rate decision by the Reserve Bank of Australia (RBA). And concern is growing that May's announcement will have further effects on the Australian currency.

With Australians fixated on savings, term deposits no longer as attractive as they once were and new post GFC rules on the banks, Aussies are bearing witness to an evolution in the way they save.

A survey commissioned by insurance provider AAMI has revealed some shocking truths about what Australians prioritise their spending on.

All eyes will return to the Reserve Bank of Australia (RBA) on Tuesday when it makes its May interest rate decision, while those with home loans will be cheering for a rate cut, any cuts could have an impact on the Aussie dollar's exchange rate.

According to the latest research by Mozo, when it comes to their banking products, Australians are most unhappy with their personal loans but when it comes to making a switch and saving money, the rich switch while the poor stick.