News Archive for December 2019

With interest rates in Australia stuck at an all time low, getting the best value savings account is critical, whether you’re wanting to maximise your interest rate or reach your savings goal faster.

With just five days until Christmas and 12 until the new year, we’re officially entering the quiet trading period for many Australian businesses.

All in this week's banking recap.

The Christmas period is upon us, and between buying gifts, attending parties, and making sure the pantry is well stocked with festive treats, your wallet is in for probably the biggest workout of the year.

New year, new you. That’s how the saying goes, but it’s not a concept that just needs to be limited to your personal life. After all, why wouldn’t you want to get your business off to a great start in 2020 as well?

It’s no secret that the word “sustainable” along with “ethical” “eco-friendly” and “green” have become the buzzwords of 2019. But when it comes to gift giving what does it actually mean? What is a sustainable present?

As Volt Bank begins the task of onboarding its 40,000-strong waitlist, CEO Steve Weston is banking on breaking tradition and lessons from abroad to spark the neobank into life.

World travellers from down under aren’t few in number, and it looks like most of us are keen to keep up the trend over the next 10 years.

In the words of John Lennon, “And so this is Christmas and what have you done?”

With Christmas almost a week away, Aussies across the country are rushing to make their online orders and are queuing up at the checkout, credit card at the ready.

Whether you’re a parent of a school-leaver eagerly (or not) waiting for their HSC results, or you’re a returning gap-year adventurer ready to take a leap into university - if you live rurally you may want to familiarise yourself with the Bendigo and Adelaide Bank scholarship.

Ah Christmas, the time of year when food is in abundance, the weather is warm and the streets are filled with lights.

Aussies love to travel the globe. Whether we’re escaping the scorching hot summer for a white Christmas or planning the next bucket list trip of 2020, it’s smart to be prepared when it comes to money and the hidden exchange and withdrawal fees you could be stung with abroad. If you’re a little confused deciding on whether a prepaid, debit or credit travel money card is the right choice for you, you're not on your own. There are a lot of things to consider when planning a trip overseas, so the money experts at Mozo have come to the party and looked at the nitty gritty to come out with some standouts to help make it easier for you to decide which is right for you.

Is your Christmas shopping list never-ending? The truth is, you’re not alone.

Commonwealth Bank (CBA) has just launched a new in-app feature that rewards you for making everyday purchases with your credit card or debit card - whether that’s buying your weekly milk and bread, topping up petrol, or ordering takeaway Chinese for dinner.

They say there’s a first for everything, and the same goes for the energy market.

Global credit card and payments company Mastercard has been making inroads into digital security, unveiling a new digital ID service which will allow customers to verify their identity without having to provide any cards or documents.

All in this week’s banking recap.

It’s the age-old saying: money doesn’t grow on trees. But could putting money under the tree this year be the perfect Christmas gift?

They say when it rains it pours and that’s exactly what’s occured in the home loans industry within the last 24 hours.

A year on from Mozo’s analysis of the rising number of ‘mortgage prisoners’, the Australian Securities and Investments Commission (ASIC) has made guideline updates to the National Consumer Credit Protection Act 2019 about responsible lending to mortgage prisoners.

A trip away, picking up a new hobby or saving up for a new car - it’s safe to say many Aussies may have already started making plans for 2020.

From nail biting to overthinking, everyone’s got a habit they’re not proud of and aren’t willing to kick.

Whether you feel particularly jolly at this time of year or not, one thing is clear, as a whole, Aussies are a pretty festive bunch. In fact, we’re so festive that according to a recent survey conducted by ME Bank, a significant 64% of Aussies are rushing to renovate their homes before Christmas.

Whether it’s a flashy pair of socks or a book you’ve been dying to read, there’s no better feeling than unwrapping your dream gift on Christmas Day.

Summer. It’s one of the most popular times of the year for Australians to head interstate or overseas to make use of the holiday period, and it's also prime time for planning that international adventure next year.

As the year draws to a close, many Aussies will soon start drafting up their New Year resolutions, goals and plans for the new decade.

Just in time for arguably the most expensive season of the year, online bank UBank have teamed up with Aussie fintech Basiq to help customers review their spending habits and set budgets.

If you’ve been toying with the idea of an end of year getaway or your New Year’s resolution is to finally tackle that home reno, you'll be excited to hear that there has been a wave of personal loan rate cuts in the lead up to the festive season.

While December brings with it plenty of festive cheer, it also comes with a lot of strained financial purse strings. And if you’re thinking of taking out a personal loan to ease the financial pressure this silly season, you may have stumbled across the idea of personalised interest rates.

After months of anticipation, Australian neobank Volt Bank has released the first substantive piece of information about one of its soon-to-be-released banking products: a savings account interest rate.

86 400. It’s a big number, but what, if anything, does it have to do with banking?

There’s a commonly held idea that in order to make it as a small business you really need to put in the long hours and hard work, and a new study released by business lender Prospa this week has confirmed how true this can be.

With belts tightening all across the country, it’s important to keep a close eye on which savings accounts will give the best bang for your buck, but with so many out there it can easily get confusing. That’s where Mozo experts come in.

All in this week's banking recap.

Whether you’re treating yourself to a well-deserved holiday or are looking to give your kitchen a bit of an upgrade, taking out a personal loan can help you do it.

While it isn’t one of the big four, CitiBank is still a prominent player in the Australian financial game, however, it seems that they’ve changed their tactics.

These days, you can’t go too far without seeing someone walking around with a reusable coffee cup or water bottle, but new research has found that many Aussies think we should be doing even more for a sustainable future, like switching out our electricity.

Heading to Woolies for all your festive food supplies? Well, it may also be a good place to shop for home insurance as well, especially when every new policy this month helps feed Aussies in need.

Money can be a tough subject sometimes, no matter your age. But a large majority of Aussie parents feel that it’s up to schools to equip kids with the financial knowledge they need, not just at home.

Over a third of Australian home buyers admit to lying on their home loan applications, according to recent research, and that could spell trouble, landing borrowers in a situation where they’re unable to meet mortgage repayments.

Hot off the press: ANZ has kicked off the silly season with brand new bonus point offers on a bunch of its rewards credit cards.

Securing that extra bit of funding needed to hire new staff or purchase a new piece of equipment could mean the world to any small business looking to take things to the next level.

Whether you are heading overseas to visit family, chasing a winter wonderland or just escaping the hustle and bustle of regular life, taking out travel insurance  for your Christmas holiday should be at the top of your checklist.

It was the final meeting of 2019 - in fact, the final meeting of the decade - but rather than ending the year with a bang, the RBA made the decision to hold interest rates at 0.75% at its December board meeting in Sydney this afternoon.

If you’ve got family or friends living abroad, chances are you know the pain of hefty parcel fees all too well - especially around the festive season when you may be delivering a whole bunch of presents across the globe.

For many Aussies, Christmas is often spent abroad and is filled with activities from snow boarding to a competitive round of golf. And with only weeks to go till the happiest day of the year, Aussie fintech, Pelikin have just announced their very own travel insurance product, which they say could be the perfect fit for younger travellers looking to get up to all sorts of fun on their next trip away.

With many Aussies having an increasing desire for transparency in their banks and products that do good, many providers are adding ethical options to their line ups.

With one in five Australians admitting that the Christmas season is the most financially stressful point in the calendar, a large chunk of us are stashing away cash over an entire year to fund it.

December’s here, which means... it’s beginning to cost a lot like Christmas! Now, it may be the last month of the year, but it’s also the most expensive. So before you hit the shops and attempt to tackle your Christmas list, be sure to read our December Financial Checklist that’s chock-a-block full of tips and tricks to get you through the silly season.

Australia's best home loans have been ranked for the 2019 Mozo Expert's Choice Awards, and the results are eye opening. Choosing the best value home loan over the average big bank loan could save a typical borrower more than $82,000 over the life of the loan*, but with so many options available it can be hard to know where to start.