In a major turning point for savers,it is now possible to make returns that are just ahead of inflation simply by putting your money in the bank.
The mortgage war is taking a bite out of bank profits,and analysts say CBA could unleash more competition if it looks to turn around losses in market share.
The 78-year-old New Zealand politician has taken aim at Australia’s big four banks and major supermarkets for purportedly ripping off New Zealanders.
The collapse of Silicon Valley Bank earlier this year has prompted the financial regulator to tighten some of its standards,focusing on pulling smaller banks in line with the big four.
The RBA says some non-bank lenders are trying to overcome a tough environment by targeting higher-risk customers and cutting lending standards.
Financial relics such as historic passbooks,traveller’s cheques and a robot intended for greeting customers in bank branches are on display,as the Commonwealth Bank opens up its archives.
Banks have signalled they will support customers struggling with higher interest rates – but it won’t be the same as COVID-19 rescue packages.
More people are reaching out to their bank for aid due to the cost of living crisis.
New debit cards from ME Bank are designed for those who want to make charitable donations without having to think about it.
As more customers do their banking digitally,the country’s biggest bank will keep its regional branches open until at least the end of 2026.
If you want great interest rates on your savings in this market,it is time to switch banks.