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1 year, 1 month ago

Tom Price residents find creative banking solutions after Westpac closes bank branch

ABC

A thousand kilometres from Perth and situated between red dust and mountain ranges, cash is still king at the Tom Price drive-in theatre. But the Tom Price Bank@Post service was unavailable for several months this year while the local post office moved sites and many residents said it was no substitute for a bank branch. "It's hard because the post …

Services Banking Tom Branch Cody Shire Pilbara

1 year, 6 months ago

Commonwealth Bank, NAB, Westpac payment warning for Australians

Daily Mail

Banks secretly rake in millions from 'tap-and-go' contactless credit or debit card purchases and a growing number of businesses now pass the exorbitant fees directly onto customers as surcharges. Banks are charging exorbitant fees for the convenience of using tap-and-go contactless cards for making purchase Manny Notaras, the owner of Canberra's CAPHs Cafe Bar and Restaurant, said while the higher …

Business Costs Bank Payment Banks System Eftpos

2 years ago

Westpac's warning to corporate Australia highlights extent of households' financial stress

ABC

Actually, don't answer that. "By industry, the largest rise in wage bill in the three months to September was for accommodation and food services, up 7.7 per cent," Deutsche Bank chief economist Phil O'Donaghoe said. "And on the annualised basis, accommodation and food service workers saw a whopping 40 per cent increase in average wages over the past six months. …

Food Growth Australia Work Workers Pay Price

2 years ago

Westpac closure leaves SA's Coober Pedy 'high and dry' without a bank, with closest facility six hours away

ABC

The remote town of Coober Pedy, which relies on large amounts of cash for its opal mining and tourism industry, is set to lose its only bank next year. Key points: Coober Pedy will lose its only bank when Westpac closes its branch in February Australia Post will provide limited banking services to the town Residents who don't use internet …

Banking Bank Closure Post Going Town Ramsey

2 years, 7 months ago

Inflation surge could see super-sized interest rate hike in June, economists warn

ABC

The latest official inflation figures are expected to be the highest since the global financial crisis, and at least one leading economist has warned they could trigger an extra large first interest rate hike from the Reserve Bank. Key points: The typical forecast is that consumer prices rose 4.6 per cent over the past year Economists expect that the inflation …

Inflation Bank Interest Rates Interest Price Hike Cent

2 years, 8 months ago

Expanding the Home Guarantee Scheme comes with pros and cons for first-time property buyers

ABC

The government is planning to expand the Home Guarantee Scheme, which allows first home buyers to purchase with a deposit of as little as 5 per cent. Key points: The price cap on Home Guarantee Scheme loans will be lifted by up to $150,000 in some areas and $100,000 for most capital cities Analysts say it will give first home …

Property Prices Interest Price Cent Rates Melbourne

3 years ago

House prices depend on interest rates: as one goes up, the other will fall

ABC

It's very likely house prices, at least in Australia's two biggest cities, will fall at some point over the next couple of years. While it's mainly longer-term fixed rates rising at the moment, they're going up because financial markets expect the Reserve Bank to lift interest rates long before its previous aim of 2024. That why Gareth Aird noted that, …

Homes Housing Prices Interest Rates Interest Fall House

3 years, 3 months ago

'Liar loans' on the rise as risky mortgages drive house price boom

ABC

Australian home prices have surged almost 20 per cent over the past year, and investment bank UBS has warned that a record level of "liar loans" as buyers "chase the market" could be one reason why. Key points: A record 41 per cent of loan applications contain factual inaccuracies The most common fudges are under-representing living costs and financial commitments …

Record Applications Loans Loan Prices Mortgage Price

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