Transaction Accounts - Page 3
ING cashback offer to pay customers for paying their electricity, gas and water bills
ING will pay customers for paying their gas, water and electricity bills with a new cashback offer launching in December. Canstar worked out how much you'd need to save to earn the same cash back in interest payments.
Canstar reveals its 2021 Bank of the Year & Customer-Owned Bank of the Year Award Winners
Canstar has named the winners of its 2021 Bank of the Year and Customer-Owned Bank of the Year – find out who won.
Ethical banking – how to make your money match your values
What is ethical banking? And how can you make sure your bank aligns with your values?
Virgin Money launches digital bank: New transaction, savings accounts & rewards
Virgin Money launched its new 'digital bank' today, including a transaction account that allows you to earn rewards points and redeem them for cash. There's also a new savings account with a rate that puts it among the top bonus savings rates on Canstar's database.
Canstar reveals the winners of its 2021 Transaction Account Awards
Canstar names the winners of its 2021 Transaction Account Awards. Find out who won.
Debit cards explained: What are they and what does the future hold?
Debit cards enable consumers to use money from their account when making purchases. We explain how they work.
Google to offer bank accounts but Aussies may have to wait
Google has announced it will start offering its own bank account, ‘Plex’, from 2021 in the US. Here's what we know so far.
Canstar reveals its 5-Star savings and transaction accounts for 2020
Are you looking for an outstanding value place to keep your cash or manage your day-to-day spending? Canstar reveals which institutions are offering 5-Star Rated savings and transaction accounts. The official cash rate is sitting at a record low of 0.25%. Although the Reserve Bank of Australia did not lower the rate further this week, Canstar saw a number of banks reduce their savings account interest rates, possibly in anticipation of a cut. In this ultra-low interest rate environment – and with Australians saving more of their income than they have in over four decades according to the latest data … Continued
The 17 avoidable bank fees costing Australians $876 each year
Millions of Australians may be forking out money for avoidable banking fees, according to new data that shows we pay an average of $876 in unchallenged fees each year. A Canstar survey of 1,024 Australian adults in July found that close to one quarter (24%) – the equivalent of around 4.7 million people* – didn’t challenge or were unsure if they challenged unknown, incorrect or unfair bank fees. Canstar money expert Effie Zahos said it’s important to keep an eye on your accounts, as small amounts can quickly add up. “Whether it’s a $5 or a $50 fee, always question … Continued
Award-winning everyday banking for uncertain financial times
At a financially uncertain time for many Australians, Canstar reveals which bank and customer-owned institution offer Award-winning value across their range of everyday banking products. The economic turbulence resulting from the COVID-19 pandemic has meant that finding a high-value place to keep your money and manage your everyday spending has become a priority for many people. On a positive note for consumers, Canstar Research said that transaction accounts remain highly competitive in the current market, as some institutions continue to remove account-keeping and transaction fees from their accounts. The move to more cashless transactions caused by the pandemic could also … Continued
Neobank boosts referral bonus: Is the extra cash worth the switch?
One neobank has increased its cash offer for new customer referrals to its bank accounts this month. We asked the experts if a cash bonus is worth the switch for new customers, how these schemes work and what other financial institutions are offering similar incentives that reward consumers with extra pocket money. The Treasurer Josh Frydenberg told us last week that Australians saved nearly 20% of their disposable income in the second quarter, as the pandemic caused people to tighten the purse strings. But while more cash is being stored in the bank, savings interest rates are generally fairly low … Continued
Which banks have the most satisfied customers in 2020?
Research from Canstar has revealed the Australian banks with the most satisfied customers in 2020. Did yours make the list? Most of us use at least one bank, but how many of us take the time to think about how happy we are with it? Canstar Finance Expert Steve Mickenbecker suggested that what we use our banks for could be an influential factor. “Banks are ubiquitous in all of our lives, and we’re all using banking services in one form or another, even if it’s only to receive and spend our pay,” he said. “But the value and satisfaction you … Continued
Canstar reveals its Bank of the Year and Customer Owned Bank of the Year Award winners
Canstar has announced the winner of this year’s Bank of the Year and Customer Owned Bank of the Year Awards. Did your bank win?
Vulnerable bank customers issued debit cards: Your guide to setting up a new debit card
A number of elderly Australians and people who would typically rely on cash are about to receive a debit card from their bank, but many of them may be unfamiliar with how to set one up and use it. Here’s what you need to know. On Wednesday, ASIC fast-tracked the approval for banks to issue a record number of debit cards to help some customers shop safely throughout the coronavirus pandemic. The cards will be issued, at no cost, to customers who actively use a passbook account or transaction account with no linked debit card to do their banking, meaning … Continued
Are your everyday bank accounts giving you 5-Star value?
After assessing more than 400 products, Canstar has revealed the savings and transaction accounts on its database offering 5-Star value to Australians in 2020. At times of financial uncertainty, many consumers turn their attention to how they can keep their money safe, while making sure it’s still working for them. If you’re looking to maximise what you’re getting from your everyday bank accounts, you might decide it’s time to scan the market to see if there’s batter value out there – whether that’s in the form of a better interest rate, lower fees or extra features to help you reach … Continued
New neobank: Hay launches waitlist for digital transaction account
Hot on the heels of big-bank challengers Xinja, 86 400 and Volt, another fully digital bank has launched in Australia, with its first product available to apply for from today. Neobank Hay has opened its digital transaction account for applications, promising no fees on everyday spending and no international transaction or foreign exchange fees for travellers. The launch follows Xinja’s deposits swelling to $100 million within less than three weeks and 86,400 having written more than $10 million in home loans so far. Hay – which dubs itself an Australian fintech company – was able to open its doors to … Continued
Which savings and transaction accounts won 5-Star Ratings this year?
Canstar's newly released Savings and Transaction Account Star Ratings have revealed the everyday banking products that offer Outstanding Value in 2019.
The winners of Canstar's 2019 Youth Banking Award announced
Canstar has announced the winners of its new Youth Banking Award, which recognises the bank and customer-owned institution on our database offering outstanding value when it comes to the products, tools and learning resources they provide young customers and their parents. As part of the Award, Canstar analysed 190 youth banking products from 45 financial institutions. “Our new Youth Banking Award aims to help parents to identify the providers that have tools and resources to assist in guiding their kids in their early banking experiences, while also directly lifting the kids’ knowledge and understanding,” Canstar finance expert, Steve Mickenbecker, said. … Continued
Everyday Banking Award Winners in 2019: Which institutions came out on top?
Canstar has revealed the financial institutions that provide the strongest combination of everyday products and services for customers in its 2019 Everyday Banking Award. Canstar’s researchers assessed and rated 116 transaction accounts and 183 credit cards from 14 banks and 34 customer-owned institutions on the Canstar database, to determine the providers offering a strong combination of competitive transaction accounts and credit cards for customers. While product excellence was the main focus for Canstar Research in these Award calculations, the team also assessed institutions based on the strength of their online banking platforms and their coverage of ATMs and branches throughout Australia. … Continued
Banking On The Go: 12 Tips To Help Increase Your Mobile Banking Security
Where there′s money, there′s temptation for thieves and fraudsters. Banks protect your accounts with sophisticated software systems which track suspicious transactions.
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