This week in banking - Term deposits continue to drop
A number of trends from last year have continued into January, including several changes which gesture towards an upcoming decision by the RBA.
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New dispute resolution body AFCA launches after Banking Royal Commission
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.
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May financial wrap up
May wasn’t just any ordinary month when it came to covering finance news over here at Mozo.
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April financial wrap up
The Banking Royal Commission loomed large over April with a host of Australia’s biggest banks put through the wringer, but, believe it or not, there was a bunch of other finance news that hit the headlines.
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March financial wrap up
The third month of the year certainly was a busy one when it comes to money matters. The Banking Royal Commission kicked off its first round of public hearings, the big boys moved on home loan rates and we launched the latest edition of our prestigious Experts Choice Awards.
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February financial wrap up
Another Aussie summer comes to a close with an outrageous amount of consumer news crammed into just 28 days over the last month.
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January financial wrap up
You might not have been paying attention during the first month of 2018 and who could blame you - there were beaches to get to, bevvies that needed drinking and books that simply had to be read.
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October financial wrap up
There’s under two months to Christmas and boy can we tell. Headlining this month’s financial news was a couple of big credit card launches as the banks make a play for your business before the festive season, a host of banking innovations to keep the tech heads happy and of course, energy news as we head into our warmest months.
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UBS says: one in three Aussies don’t understand their interest-only home loan
When you think about the terms and conditions on your mortgage, do you draw a blank? You’re not alone. According to UBS analysts, 1 in 3 Aussies don’t understand their interest-only home loan, unintentionally placing themselves in “substantial ” stress once the repayment amount rises.
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Cherry picking on the rise as Aussies search out cheaper bank fees and more competitive interest rates
According to the Australian Bankers’ Association Chief Executive, Anna Bligh almost two-thirds of Australians have accounts at more than one bank, suggesting that people are shopping around to find the best deals and the right products for their needs.
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