News Archive for March 2014

Australia's small and medium businesses (SMEs) are being charged an estimated $400 million more in fees than they should every year according to Tyro Payments, Australia's leading EFTPOS provider.

In a submission to the Senate Industry into Housing Affordability, the Mortgage and Finance Association of Australia (MFAA) has called for the Federal Government to facilitate competition in the banking system.

Airlines, taxis, major hotels and restaurants have been called out as the worst offenders for credit card surcharging by Australian consumers as new research by MasterCard revealed that credit card surcharges are costing us $800 million annually.

Travel over the Easter holiday period is expected to more popular than usual for Australian families as the Easter and ANZAC day long weekends bump up against one another, meaning that Australian workers only need to take 3 days annual leave to get a bumper 10 day break.

Comprehensive credit reporting comes in effect today as part of changes to the Privacy Amendment Act, which means that for the first time banks and other credit providers will be able to view positive as well as negative data when making a decision to grant credit.

If you are planning a holiday this year, Japan offers the best value for money according to the 2014 Expedia Foreign Exchange Index.

There were no surprises from the Reserve Bank today, as the cash rate was kept on hold at 2.50% for the seventh consecutive month at the RBA's monthly board meeting.

It has been a positive start to the new year with new home sales, recording a 0.5 percent increase in January according to the Housing Industry Association (HIA).

Card issuers have shown a growing interest in promoting 0% Balance Transfer rates in February with a record number of Balance Transfer credit cards being offered at lower and longer rates.