News archive for October 2019

October 2019

InstaReM: “one of the most cost effective” ways to send money overseas

InstaReM: “one of the most cost effective” ways to send money overseas

If you’ve ever sent a hefty amount of money overseas via one of the big four banks, then chances are you’ve also been hit with hefty fees. But if you look beyond the big four, it is possible to get a better deal with specialist international money transfer services.

Teachers Mutual Bank cuts first-year home loan rates to new lows

Teachers Mutual Bank cuts first-year home loan rates to new lows

Just when you thought home loan rates wouldn’t drop any further after three RBA cuts this year, Teachers Mutual Bank rises to the challenge. The mutual bank is launching a special 1-year introductory rate of 2.80% (3.29% comparison rate*) for its Classic Home Loan.

Savers can now earn up to 2.50% interest with Heritage Bank

Savers can now earn up to 2.50% interest with Heritage Bank

Dedicated savers have had little to get excited about lately. The RBA has cut the cash rate three times this year, and banks have exercised very little restraint when hacking away at their savings rates. Right now, it’s pretty hard to find an account that promises decent returns.

Travelling or sending money to Japan? AUD maintains upward trend against yen

Travelling or sending money to Japan? AUD maintains upward trend against yen

For Australians planning a Christmas trip to Japan or sending money there, you’re in luck. With the Japanese yen continuing to drop in value, Aussies making an international money transfer (IMT) or taking out a travel card for their upcoming trip to Tokyo can look forward to more competitive exchange rates right now.

Continued bank branch closures and the rise of online banks

Continued bank branch closures and the rise of online banks

It’s quite likely that you’ve noticed a number of bank branches quietly closing down over the past few years in your area, town or even city. Or if banks aren’t on your radar much because you do all your banking online, you may have found it harder and harder lately to find an ATM, for that once in a blue moon time you want to get hold of some actual cash.

Record low rates fuel bank comparison boom

Record low rates fuel bank comparison boom

Interest in low rate home loans is surging in the wake of the Reserve Bank’s cash rate cuts, as Aussie borrowers hit comparison sites in search of cheaper mortgage deals. The New Daily reports that tens of thousands of Australians have taken up the Treasurer’s advice to “shop around and get the best possible deal”.

The best Virgin credit card for your high flying wallet

The best Virgin credit card for your high flying wallet

The results of the 2019 Mozo Experts Choice Awards for Credit Cards are in, and Virgin Money’s Virgin Australia Velocity High Flyer credit card is jetting off with an award for the best Velocity Frequent Flyer Premium Credit Card.

The only Amex credit card your business needs

The only Amex credit card your business needs

Chewbacca, Dr. Watson, Robin, Samwise Gangee - the list of loyal sidekicks is endless, but when it comes to choosing the right financial sidekick for your business, finding a great match can be difficult.

ANZ’s award-winning credit card suite

ANZ’s award-winning credit card suite

For many Aussies, a credit card should be more than just a shopping companion, and if this sounds like you then you may have already considered applying for a rewards credit card.

Another cut? UBank drops savings rates by 0.31%

Another cut? UBank drops savings rates by 0.31%

The USaver with Ultra Transaction Account will lose a little bit of its glimmer today, as UBank joins a growing list of banks that have reduced savings account rates following last week’s RBA cut.

Real Insurance car insurance wins back-to-back in the Mozo Experts Choice Awards

Real Insurance car insurance wins back-to-back in the Mozo Experts Choice Awards

With so much at stake when getting behind the wheel of a car, you’d think that picking the right car insurance policy would be as much of a priority, if not more than picking out a car. Disagree? Trust us, the consequences of not having car insurance when you need it, far outweigh the pitfalls of having a policy that you never need to use.

AMEX offers new customers a chance to score 120,000 bonus Qantas Points!

AMEX offers new customers a chance to score 120,000 bonus Qantas Points!

Starting from today, American Express is offering new customers the chance to earn 120,000 bonus Qantas Points when they sign up for the Qantas Ultimate credit card. So if you are new to AMEX and you sign up before the offer ends on Wednesday 6th November, you might just be able to bag a whole load of Qantas Points to put towards your next holiday.

Hot home loan rates starting with a 2

Hot home loan rates starting with a 2

The RBA has cut official interest rates for the third time this year, and already a handful of lenders have responded by slashing rates across their range of variable rate home loans. Right now, if your home loan doesn’t have a ‘2’ in front of it, you’re missing out.

loans.com.au jumps on October RBA home loan rate cut party

loans.com.au jumps on October RBA home loan rate cut party

Following last Tuesday's RBA rate cut, home loan interest rates have been dropping like dancers in a limbo contest, but as one of the perennial members of the low rate home loan club, it wouldn't be much of a rate cut party without loans.com.au.

Australia’s best investment loans of 2019

Australia’s best investment loans of 2019

Has the Spring property season inspired you to add a new investment property under your belt? Or perhaps you’re looking to refinance your current investment home loan to a better deal?

Small businesses losing faith in major banks

Small businesses losing faith in major banks

Major banks have historically played a bigger role in supporting small businesses, but for the first time Aussie business owners are turning away in search of something different.

RBA rate cut: Is your lender naughty or nice?

RBA rate cut: Is your lender naughty or nice?

Online lenders UBank, Athena, Homestar and FreedomLend are on top of the rate cut nice list this month, moving with lightning speed to announce they are passing through the Reserve Bank's October rate cut in full.

5 savvy ways to cut your car costs in your 30s

5 savvy ways to cut your car costs in your 30s

Buying that first car used to every teenager’s rite of passage to independence, but these days, a growing number of younger Aussies aren’t rushing to get behind the wheel. Fewer and fewer people in their 20s now have a driver’s licence, while the 30s have become a prime time to hop onto your Ls and pass your RMS test with flying colours.

Stop the big bank home loan rip off: Here’s how

Stop the big bank home loan rip off: Here’s how

The RBA has cut rates for the third time this year and once again the big banks are failing to pass the full cut through to mortgage holders. What's more, the big 4 banks’ rate cut tactics have seen them pocket a $4.7 billion windfall since 2016, research by Mozo reveals.

Big banks have pocketed an extra $4.7 billion by not passing on full cuts

Big banks have pocketed an extra $4.7 billion by not passing on full cuts

The RBA has shaved another 0.25% off the cash rate - the third time this year it’s done so - and all attention has turned to home loan lenders to see how they’ll respond. Among the big four banks, CommBank and NAB have already announced cuts of 0.13% and 0.15%, respectively.

October 2019 Financial Checklist

October 2019 Financial Checklist

October’s officially here, which means it’s time for another financial checklist! But, we should warn you, this one’s not for the faint-hearted, so enter at your own risk…

Homestar keeps the streak going, cuts home loan rates by 0.25%

Homestar keeps the streak going, cuts home loan rates by 0.25%

If we had to pick a home loan provider MVP, Homestar would be a pretty strong contender. Not too long after the RBA cut official interest rates by 0.25%, the online lender announced it would be cutting home loan rates in kind — the third time this year it’s passed on the full cut.

First home buyers opt for apartments to get a foot on the property ladder

First home buyers opt for apartments to get a foot on the property ladder

It’s spring property season and if you are one of the many Aussies trying to get a foothold on the property ladder, then right now you might be scrutinising your finances and weighing up your options. Of course, in the current housing market you might not be able to bag your dream house straightaway, especially if you’re a Sydney-sider or a Melbournian.

ME Bank makes saving easier with 3 simple changes!

ME Bank makes saving easier with 3 simple changes!

Calling all keen savers! If you love keeping a padlock on your pennies, and watching your savings stash grow, then you’ll be pleased to hear that ME bank just made saving even more effortless.

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