Banking

NAB has revised its property market forecast, now expecting dwelling prices to rise by 18.5 per cent this year before slowing to 3.6 per cent in 2022 as affordability constraints become more pronounced.

Receiving payment through Centrelink or having a small income can make getting a credit card more difficult, but it does not necessarily disqualify you.

When you apply for a home loan, it is ideal to have at least a 20% deposit saved up. That is 20% of the property purchase price banked and ready to pay up front. 

Westpac, ANZ, NAB and CommBank have already or plan to close down 350 bank branches between January 2020 and Christmas 2021.

For decades it’s been the norm for Australians to reach into their wallets for a plastic debit card to withdraw cash or make a payment at the counter, but that’s about to change for customers of one bank.

Spring wedding season is around the corner, and despite tying the knot in 2021 may look a little different than before.  Many Aussies have been forced to change their wedding plans throughout 2020 and this year, with multiple lockdowns and different levels of restrictions.However, for many couples the expense of a wedding was and is still a tricky cost to cover. Whether mum and dad are pitching in, you take out a personal loan or reach into your wallet for your credit card, the truth is that your savings may not be enough.  In fact, according to moneysmart the average cost of a wedding in Australia currently sits at $36,000. Their stats found that while 82% of couples relied on their savings to cover wedding costs, another 60% took out a loan and 18% used their plastic. 

Comfort spending is all too tempting during the cold winter months, especially when you’re stuck at home during a lockdown. You may not be allowed to go outside, but you can still access the internet right? Before you know it harmless browsing turns into five things in your cart and a big dent in your savings stash. If only there were somewhere to keep your rainy day fund out of reach.

Paying down your car loan early can be a great idea, but it also might not be. The truth is, in some cases clearing car loan debt can be a savvy option and can improve your financial situation. However, in others it can have the opposite effect and impact your ability to afford things or pay off other forms of debt. Essentially, it’s all about you and where you financially stand. So what’s the right choice for you? That’s where our pros and cons list comes in handy! Read on as we weigh up the advantages and disadvantages of paying off a car loan ahead of time… 

Finding a way to send money overseas can be tricky. From securing the best conversion rates to dodging hefty transaction fees, there are a fair few things to think about. So choosing the cheapest international money transfer (IMT) provider is crucial if you want to keep more money in your pocket. That’s where the 2021 Mozo Experts Choice Awards for International Money Transfer^ come in.Out of 28 IMT providers (both banks and non-banks), Mozo’s experts have named the top three services for 2021, as well as the best bank for sending money overseas. The judges compared quotes from providers across a handful of different currencies, and weighed up any potential fees that could be charged to a customer making the transfer.“Out of all the IMT providers our research team compared, this year’s winners stood out with great exchange rates and minimal fees on international transfers,” Mozo’s expert judge, Peter Marshall said. When it comes to the best value IMT services, CurrencyFair, InstaReM and Wise all snagged 2021 Mozo Experts Choice Awards^ for best International Money Transfer. Meanwhile, Citi was crowned best International Money Transfer (Bank) for the sixth year in a row, and remains the only bank to have ever won in this category.“Online specialist services shone brightly again this year, as they offer competitively sharp prices when compared with similar services from traditional banks,” Marshall explained. “That being said, since 2016 when the IMT Mozo Experts Choice Awards first began, Citi has continued to dominate among the banks that offer this type of service.”

Two Mozo Expert Choice Award favourites are teaming up to provide revolutionary Open Banking services to their customers.

First launched in Brisbane and now available in Sydney and Melbourne, payo is a new app that allows customers to Buy Now Pay Later (BNPL) when dining out.