News Archive for November 2018

Technology is everywhere, shaping our behaviour now and most likely moreso into the future. Increasingly, it's permeating the world of insurance.

Unless you’ve been out of the country with your fingers in your ears since public hearings began in February, you would have found it difficult to avoid at least some of the trials and tribulations surrounding the Banking Royal Commission.

Thousands of Australians refinance their home loan each year^ on the hunt for a lower home loan rate, and in result, more money in their back pockets.

The image of the laid back Aussie traveller may not be as accurate as we thought, with new research from HSBC revealing that Aussies abroad are conscientious about using the hotel safe, keeping copies of important travel information and pre-booking their itineraries. We’re just not quite as on top of things when it comes to getting the best bang for our buck on holiday spending.

As the Liberal and Labor parties continue their stoush over the development of a national energy policy, everyday Australians are making it apparent that slashing energy prices is at the top of the Christmas wish list. And with so much confusion surrounding current energy pricing, Aussies are left wondering whether Labor’s push for off-grid renewable energy could drive down their bill.

There’s little doubt about it, budgets are going to be tight in the lead up to Christmas 2018, with many Aussie families likely to rely upon dipping into their savings accounts or using a credit card to fund this years festivities.

In a world where new and exciting technology is launched every day, it’s easy to blink and miss the latest innovations as they come to life. So with 2018 almost at a close, now’s the perfect time to sit down and take stock of the award-winning banking innovations to hit Australia throughout the year.

Just four years after they were completely rolled out, Opal cards might become a thing of the past, as Sydney commuters can now tap on and off across train, ferry and light rail networks using their credit card.

If it’s your first time shopping around on personal loans, then you might think that going directly to the big banks is the right way to go. But if our 2018 Mozo Experts Choice Personal Loan Award winners is anything to go by, it may be time to broaden your horizons.

The only thing better than a holiday is a holiday with all the luxury and only a fraction of the price tag. And your credit card rewards program could be just the thing to make this a reality.

It’s not news that climate change beings with it not only damage to the environment, but also some massive bills. In fact, in 2017, APRA Executive Member, Geoff Summerhayes, told the Insurance Council of Australia that, “Some climate risks are distinctly ‘financial’ in nature. Many of these risks are foreseeable, material and actionable now.”

With shiny new homes boasting rustic charm showing up on the radar every day, and property prices falling lower than they’ve been in years, it may come as a shock that Aussies aren’t as keen to get a home loan as they were last year.

In a rare win for savers, the Commonwealth Bank has today hiked the introductory rate on its NetBank Saver account by 4 basis points from 2.51% to 2.55% and extended the introductory period on the offer from three to five months.

Surf, sand and sun - there’s nothing like a summer holiday to end the year with a bang or start the new year off on the right foot.

Whether it’s two weeks in the Maldives or a month long adventure in Europe, everyone has their dream holiday. But for many Aussies, tight budgets and rising living expenses can force the fantasy to be put on hold.

Wearable payment technology and digital wallets are the coolest new trend in the banking world - but does it really have the power to replace something as everyday and useful as your credit card? According to MyState Bank it’s more likely than you might think.

For some Aussies, using a reusable coffee cup is the way we do our bit for the environment, but others prefer to think bigger - four wheels bigger.

Everybody loves a bargain, and everybody loves online shopping - so it’s no wonder Black Friday and Cyber Monday have become such big hits down under.

With summer on it’s way, Aussies are gearing up to crack out the barbie, stock up on zooper doopers and, sadly, brace for high power bills. And since this season’s set to be an absolute scorcher, reaching for the aircon remote is going to be more tempting than ever. But with current energy prices, you might want to give that a second thought.

The Liberal National Government is targeting more than three million small businesses around Australia with two new initiatives aimed at improving access to better value funding for SME’s.

The number of same-sex couples buying homes together with joint mortgages is on the rise, according to Aussie Home Loans, particularly among female couples.

You can’t put a price on love, but between bad credit card debt, questionable spending habits and a lack of money savvy, financial matters play a bigger part in our relationships than some people may realise.

Despite the name, member funded Police Bank have proven themselves to be a provider for every type of Aussie, proudly taking home the title of Personal Loan Provider of the Year in the 2018 Mozo Experts Choice Personal Loan Awards.

For many of us our cars are our pride and joy - we name them, refuse to park them on dangerous corners, and even treat them to top of the line fuel.

American Express, long the favourite for spenders chasing big rewards points balances, has today announced decreases across the earn rates of many cards in its rewards card range. But if you’re ready to trade in your Amex card, don’t be too hasty - amongst a trend of slipping rewards programs, it may still be one of the best value cards around.

Adulting isn’t always easy, and buying a home can seem like a mountain that’s impossible to climb. However, in our dropping property market, Westpac research has revealed that first home buyers are feeling more optimistic about getting a foot on the property ladder.

Despite the fact that as more Aussies of all ages head overseas and more are also paying closer attention to their travel insurance, over a third of Aussie travellers with a pre-existing medical condition are still unsure just what they’re covered for, according to data from new travel insurer, TravelCard.

Mozo was live on Facebook on 23 October talking about the best credit cards of 2018 with Mozo Experts Choice Judge and Data Manager Peter Marshall.

Almost half of Aussie small business owners say their business would barely last out a year if something happened to them, a worrying report from life insurance company, MetLife Australia, has revealed.

The results of Mozo’s Experts Choice Home Loan Awards are in, revealing the best value mortgages of 2018!

Picture this: it’s 2019, and you’ve got a massive stack of rewards points sitting in your account. Will you cash them in for a free flight? Dreamworld tickets? A Bunnings gift-card? The world of rewards points redemption is your oyster.

Prince Harry and Meghan Markle have finished their great Australian tour, during which all eyes were on the blooming Royal Baby Bump.

It’s no secret that young Australians love to travel. Ask any millennial and they’ll likely be hard pressed to name a friend that hasn’t recently travelled overseas or isn’t planning to do so in the near future.

Sometimes, we like to think we have everything under control, but then life happens: your car breaks down, your dog gets sick and you have to fly cross country at the last minute to comfort your sister through a bad breakup.

Halloween may have offered plenty of shocks and scares last week, but in typical fashion the RBA failed to get in on the spirit, instead providing a less-than-shocking cash rate decision at today’s monthly meeting in Sydney.

After being the only big 4 bank to resist a rate hike in September, NAB has today announced a home loan rate rise for new customers.

If you’ve ever been left in the dark (literally), and unhappy with your energy provider, you’re not alone, as Roy Morgan research has revealed that only 60.9% of Aussies are satisfied with their energy provider, a 12.6% drop since 2009.

A new study of 240 Australian emergency service workers including firefighters, ambulance service workers and paramedics has highlighted a number of concerns many workers in the sector have about their current and future financial outlooks.

In the wake of the Banking Royal Commission, Aussie shoppers and small businesses now have another avenue for resolving financial disputes, with the Australian Financial Complaints Authority (AFCA) open for business from today.

From today onward, prospective Aussie car owners will receive a fairer deal when it comes to taking out a car loan, thanks to ASIC’s new ban on flex commissions.

Post Halloween sugar rush, Melbourne Cup and a day for vegans everywhere, it’s all happening in November. We don’t know about you but October was a massive month and we’re thinking November is set to be even bigger since we’re gearing up for the busiest time of the year, Christmas. So let’s not horse around (I’m not even sorry) and kickstart this month’s financial checklist!

How did Stonehenge get there? What’s going on in Australian politics? Why does my printer always need magenta? These are some of the greatest mysteries of our time, and according to Gateway Bank research, home loan terminology is also on that list.