Former Sunrise host-turned Compare the Market economic director David “Kochie” Koch has crunched the numbers to expose a growing wealth gap in the housing market. He linked spending by those in the older generation to a boom in inflation, and explained how mature Australians have been shielded from rate rises, in a “tough pill for … Read more
India is undergoing an industrial renaissance and the country is the most promising structural growth story in Asia over the next decade, an HSBC Global Private Banking release said on Wednesday, quoting HSBC’s Chief Investment Officer (CIO) James Cheo. Cheo has picked Indian banks, consumer discretionary and IT companies as his top bets in the … Read more
A $100 million settlement has been reached on behalf of Colonial First State superannuation fund members who were allegedly charged excessive fees, with thousands eligible for reimbursements. The class action alleged the super trustee charged excessive fees as part of arrangements to pay ongoing commissions to financial advisers who did not provide continuing services to … Read more
National Australia Bank says it will be blocking transactions to some cryptocurrency exchanges as part of its strategy to reduce financial crime. A NAB spokesperson said it would not comment on how it deemed what exchanges were “high-risk”. But they said the blocks were introduced “where we identify a high proportion of payments going towards … Read more
Cash is no longer available over the counter at a number of Commonwealth Bank locations across the country, where new Specialist Centres are now focussed on “more complex banking needs”. Customers can withdraw or deposit cash at on-site ATMs instead. WATCH THE VIDEO ABOVE: Commonwealth Bank makes major change to over-the-counter cash withdrawals. The Specialist … Read more
Australian ING customers heading abroad will notice a change in the amount of money they get back in overseas fee refunds, as the bank scraps its international ATM operator fee rebates. ING announced earlier this year it would no longer be offering up to five rebates a month of international ATM operator fees from August … Read more
One of Australia’s biggest banks has increased its fixed rates for borrowers for the second time in just over a week. NAB on Friday announced it would increase the fixed rates for owner-occupiers and investors by up to 0.20 per cent. Those increases follow similar hikes last Friday, resulting in some rates increasing by up … Read more
The Deloitte CEO said whether it is manufacturing, banking, services or agriculture – technology is key for India’s aspirations in any of these sectors. Synopsis “Indian companies need to re-skill, train, and acquire more relevant talent, if they are to successfully integrate AI technologies. Most importantly, they should be willing to make the continued investment. … Read more
Westpac customers will have more bank branches available for cash transactions as part of a new plan to support customer accessibility. The company said customers can visit any Westpac, St George, BankSA or Bank of Melbourne branch across Australia for their cash transactions, with new technology now connecting the branch network. “This completes a major … Read more
A technical issue locked ANZ customers out of their accounts for several hours, with the bank scrambling to address the nationwide outage and get services back online. A spokesperson for the bank confirmed the issue on Friday afternoon, saying it was affecting the ANZ app, online banking, credit and debit card transactions, as well as … Read more
