It is reported that Australians are paying about $500 million a year on debit card surcharges.
The Albanese Government plans to ban these surcharges to save Australians from having to pay the fees that the retailers are charged.
Unless of course Albanese intends to … Read the rest
HSBC Bank is Stopping issuing New Cheque Books from April 2024.
The government has said that Australia will stop using cheques by 2030.
The Government’s Strategic Plan for Australia’s Payments System (the Strategic Plan) announced the Government’s intention to wind down the cheques system by no later than 2030, with … Read the rest
Cash Usage in Australia, 2007 to 2022.
The use of cash in Australia has dropped severely since 2007.
In Australia, cash made up around 70% of payments in 2007 but had dropped to only 13% by 2022.
The Commonwealth Bank, NAB and ANZ have stated … Read the rest
Beyond Bank is Stopping the use of Cheques from May 2024.
The government has said that Australia will stop using cheques by 2030.
The Government’s Strategic Plan for Australia’s Payments System (the Strategic Plan) announced the Government’s intention to wind down the cheques system by no later than 2030, with … Read the rest
From September 2023, Woolworths will be reducing their maximum Cash-Out option at the till down to $200. This appears to be a reduction from the previous $500 limit.
Part of the reason is due to less cash being available these days, due to fewer people choosing … Read the rest
Australia is currently experiencing a cryptocurrency scam epidemic.
Cryptocurrency scams are one of the fastest-growing threats that are impacting Australian banking customers.
During the last year, Australians lost over $221 million to cryptocurrency scams.
Some Australian banks are implementing policies to protect their customers.
From 18 July 2023, the NAB … Read the rest
From 1 April 2023, the UBank savings account interest rate can be 4.60% p.a. on your USave account when you deposit $200 or more per month into any of your USpend or USave accounts.
From 1 December 2022, the UBank savings account interest rate can be 3.85% p.a. on … Read the rest
Conditions to get these rates:
ING: Must deposit at least $1,000 in the month. And, have a higher end balance than the start of the … Read the rest
Ubank, a division of NAB, is increasing its savers bonus interest rate to 4.25% p.a. for eligible holders of a USave account.
This is in effect from 1 March 2023, for those who deposit $200 or more per month into any of their USpend or … Read the rest
The Bank of Queensland has announced a 4% interest rate on savings accounts for 14 to 35 year olds.
There are 2 other conditions:
You must deposit at least $1,000 per month into your linked Everyday Account and make 5 eligible … Read the rest
