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Credit Cards
$55 million lost to scammers this year… and countingAustralians lost over $55 million to scams in the first two months of 2024 alone, according to data from ACCC ScamWatch, with investment scams accounting for the overwhelming majority of the money lost by victims.
Eden Radford -
13 Apr, 2024 -
5 min read
Credit Cards
Scam stats: how to stay safe these holidaysFraud on payment cards is returning to pre-pandemic levels, with authorities and police warning Australians to be vigilant against scammers over the Christmas and New Year holidays.
Mark Bristow -
22 Dec, 2023 -
3 min read
Credit Cards
Fitness First pays weighty fine for scaling up surchargesFitness First Australia has had to pay a $12,600 penalty, as a result of allegedly charging excessive surcharges on direct debits from their customers.
Bria Horne -
28 Sep, 2018 -
2 min read
Home Loans
ANZ and Suncorp Bank merger back on – what does this mean for refinancing?The merger between ANZ and the banking arm of Suncorp is set to proceed, with a previous block from the competition watchdog being overturned. But what does this mean for Australian mortgage holders?
Mark Bristow -
22 Feb, 2024 -
3 min read
Home Loans
ACCC halts ANZ and Suncorp merger – what this means for refinancingThe Australian Competition and Consumer Commission (ACCC) has halted a planned merger between ANZ and Suncorp Bank, citing concerns around competition in the home loan market, which is seeing near-record levels of refinancing.
Mark Bristow -
04 Aug, 2023 -
4 min read
Home Loans
ACCC: Switching home loans should be a lot easier, borrowers stand to save thousandsThe process of switching home loans could be sped up and standardised across the industry, under four recommendations made to the federal government by the ACCC.
Tony Ibrahim -
08 Dec, 2020 -
6 min read
Car Loans
ACCC takes Europcar to courtThe Australian Competition & Consumer Commission has chosen a big target as the first company to be litigated under new excessive surcharging rules.
Nick Bendel -
28 Jul, 2018 -
2 min read
Car Loans
Petrol prices hit four-year highAverage petrol prices in Australia��_s largest cities are the highest in four years, and the ACCC are encouraging motorists to find the cheapest deals.
Mark Bristow -
21 Aug, 2018 -
3 min read
Car Loans
ACCC cracking down on car industryThe draft report illustrates an urgent need to address widespread issues, with the ACCC receiving more than 10,000 complaints over the last two years.
Alex Ritchie -
10 Aug, 2017 -
3 min read
Bank Accounts
Scott Morrison promises action on petrol pricesThe government has instructed its consumer watchdog to ��_bust open the books of petrol companies��_ to stop price gouging at the petrol pump.
Nick Bendel -
24 Dec, 2017 -
2 min read
Bank Accounts
Know your rights and don’t get stuck with a dud Christmas presentNew data from the Australian Competition and Consumer Commission (ACCC) shows that more people than ever before are complaining about faulty products and services.
Liz Seatter -
02 Jan, 2019 -
2 min read
Bank Accounts
Phone scammers tricking Australians with very credible consThere has been a "significant spike" in "remote access scams", with 2018 losses already surpassing 2017 levels, according to the ACCC.
Nick Bendel -
27 Aug, 2018 -
2 min read
Investment Funds
ANZ accused of 'alleged cartel arrangements'Criminal cartel charges are expected to be laid against ANZ, even though the bank said it ��_acted in accordance with the law��_. The Australian Competition & Consumer Commission (ACCC) announced today that ��_criminal cartel charges are expected to be laid by the Commonwealth Director of Public Prosecutions (CDPP) against ANZ, ANZ group treasurer Rick Moscati, two other companies and a number of other individuals��_.
Nick Bendel -
01 Jun, 2018 -
2 min read
Investment Funds
ANZ, Citigroup and Deutsche Bank handed criminal cartel chargesCriminal cartel charges have been laid against ANZ, Citigroup and Deutsche Bank following an investigation by the Australian Competition & Consumer Commission (ACCC). The charges come after alleged cartel arrangement relating to ANZ shares that were traded by Citigroup and Deutsche Bank following an ANZ institutional share placement in August 2015.
Nick Bendel -
06 Jun, 2018 -
2 min read
Investment Funds
2017 a good year for scammers, bad year for investorsAustralians lost more money to scammers in 2017 than in any other year on record, with investors being hit the hardest of all.
Mark Bristow -
21 May, 2018 -
2 min read
Savings Accounts
ACCC to put the blowtorch on savings rates: which banks will pass the test?Sub-standard savings accounts that have not kept up with the rising cash rate are likely to come under scrutiny over the next month as the ACCC calls for submissions into its retail deposits inquiry.
Alex Ritchie -
21 Apr, 2023 -
7 min read
Savings Accounts
Commonwealth Bank hikes savings rates to 4% - here's what you need to knowCBA's new introductory NetBank Saver rate is 4 per cent but once the honeymoon period expires, this reduces to 1.6 per cent. Some customers may be taken in by the precursory offer, unaware of the eventuality.
Peter Terlato -
20 Jan, 2023 -
3 min read
Savings Accounts
ACCC savings enquiry welcome but customers should take matters into their own handsRateCity welcomes any ACCC investigation into savings account interest rates, however, customers need not wait for the outcome of an inquiry to get a competitive deal.
Alex Ritchie -
13 Jan, 2023 -
6 min read
Nbn
More broadband providers for Australians to choose fromA record number of telecommunications companies are now connected to Australia’s NBN, according to a new report from the Australian Competition and Consumer Commission (ACCC), making it even more important to compare your options before renewing your home’s broadband internet contract.
Mark Bristow -
22 Aug, 2022 -
2 min read
Home Insurance
More affordable home insurance required across northern Australia says ACCCThe Australian Competition and Consumer Commission’s (ACCC’s) report into insurance in northern Australia has revealed that unaffordable home and contents insurance is affecting the prosperity of communities across the region, though there are actions that could help address this.
Mark Bristow -
07 Jan, 2021 -
3 min read
Home Insurance
Extreme weather insurance costs set to triple by 2050: are you prepared?Australians are resilient but the inflating cost of insurance premiums, as a result of extreme weather, will test our resolve over the course of the next few decades. Consider other economic factors, such as rising interest rates plus inflation, and the forecast is quite bleak. Discover what you can do to combat the doom and gloom.
Peter Terlato -
21 Nov, 2023 -
4 min read
Cryptocurrency
Regulating Australia’s expanding cryptocurrency marketIntense volatility, reluctant real-world adoption and more has pushed consumer advocates to petition the newly-elected federal government to assess and identify ways to regulate cryptocurrency markets.
Peter Terlato -
21 Jul, 2022 -
4 min read
Cryptocurrency
Australia first in the world to review crypto reforms: what this means for your investmentStakeholder consultations are underway to help establish a regulatory framework for the ever-developing crypto industry. A public consultation paper will be released soon.
Peter Terlato -
23 Aug, 2022 -
3 min read
Cryptocurrency
There's an abundance of altcoins. What are they and why are they such risky investments?Altcoins aim to offer investors a unique store of value or establish some sort of online or real-world application. There is a strong appetite for alternative technology projects but with any cryptocurrency investment there is an inherent risk of failure and collapse. You can mitigate your risks by doing your research and learning more about this growing industry.
Peter Terlato -
21 Sep, 2022 -
6 min read
Credit Score
5 ways to protect yourself from fraudWith increased awareness of the threat of cyberattacks, it’s easy to feel concerned about the safety of your personal information. Criminals with access to your details could steal your identity, fraudulently run up debts in your name, and ruin your credit score, making accessing money and credit in the future much harder.
Mark Bristow -
21 Oct, 2023 -
5 min read
Credit Score
Almost 1 in 3 Aussies have fallen victim to a financial scam – don’t let that be you this ChristmasAlmost a third of Australians have been hit by a financial scam, RateCity.com.au research shows.
Laine Gordon -
22 Dec, 2022 -
5 min read
Term Deposits
Which banks have hiked term deposits and savings accounts in February 2023?The ninth consecutive increase to Australia’s national cash rate was revealed last week, making this the fastest hiking cycle in decades. The Reserve Bank of Australia (RBA) has indicated that more rate hikes may be necessary in 2023 to help bring down Australia’s high inflation. This may mean more pain for mortgage holders, savers could potentially benefit from rising rates.
Mark Bristow -
13 Feb, 2023 -
3 min read
Credit Score
Does your credit score directly relate to how much money you can take out?If you’re applying for credit products you may be wondering how much your credit score comes into play. But did you know your credit score may impact the amount of money you’re approved for?
Alex Ritchie -
19 Jan, 2024 -
4 min read
Credit Score
How to tell if it’s a scam: these are the tell-tale signsBetween recent data breaches at major retailers including Optus and Medibank, and the influx of scam text messages and emails, you may be looking to increase your knowledge on how to tell if something is a scam or not.
Alex Ritchie -
25 Oct, 2023 -
8 min read
Credit Score
Can a debt collector affect your credit score?When you miss repayments, a creditor may outsource the chasing of this debt to a debt collector. A debt collector cannot directly change your credit score, but having poor payment behaviour typically can affect it.
Alex Ritchie -
23 Jun, 2023 -
5 min read
Credit Cards
Australians being scammed out of $90 millionFalling for a scam could see your savings account drained or your credit cards maxed out. Be aware of common scams and protect yourself, too.
Kate Wick -
18 Sep, 2014 -
3 min read
Credit Cards
Credit card wars, how you can winA war for your hard-earned money is raging in the credit card industry, as retailers and credit card companies argue over the surcharges imposed on your everyday credit card transactions, according to new research.
Laine Gordon -
24 Nov, 2011 -
2 min read
Credit Cards
Top 5 ways to avoid being a Christmas fraud victimThe holiday season is a time to spend with family and friends ��_ not fraudsters. Make sure you don't become the victim of a seasonal scam.
Laine Gordon -
08 Dec, 2014 -
4 min read
Home Insurance
What is home and contents insurance?A home insurance policy covers you if the building that you live in is damaged or destroyed by an insured event, such as a fire, a storm, or a break-in. Similarly, a contents insurance policy covers you if the belongings you keep in your home are lost, damaged or destroyed in an insured event.
Mark Bristow -
26 Oct, 2023 -
6 min read
Home Insurance
What disasters can home insurance cover?When you live in Australia, considering how a natural disaster may impact your home is an unavoidable reality. This is where home insurance can be a lifeline for disaster-affected households.
Alex Ritchie -
24 Oct, 2023 -
6 min read
Superannuation
Super scams: What to look out forJust as with any aspect of finance, Australian superannuation also has its scams. At worst, they could wipe out your hard-earned retirement savings.
Laine Gordon -
12 Nov, 2014 -
3 min read
Superannuation
What is greenwashing? How you can identify sustainable banking productsLet’s explore what exactly greenwashing is, how it can occur with your financial products, and how you can protect yourself from aligning with companies that do not practice what they preach.
Alex Ritchie -
24 Mar, 2023 -
7 min read
Savings Accounts
5 things debt collectors wish you knewRateCity spoke to EC Credit Control debt collector, Chris Loveridge, about his experience chasing consumer and commercial debt, and what he wishes more people knew about his industry.
Alex Ritchie -
18 Sep, 2017 -
5 min read
Savings Accounts
Rising food costs make dents in your savingsRising OECD figures is putting pressure on Australian households. Learn the smart way to dodge hefty grocery bills and damage to your savings accounts.
Laine Gordon -
25 Nov, 2009 -
3 min read
Savings Accounts
Money tips to empower womenBecoming smart about money and planning for the future should be a priority - here's how.
Laine Gordon -
06 Jun, 2013 -
3 min read
Home Loans
Mortgage exit fees: What do the new rules mean?As part of the federal government��_s overhaul of the banking sector, Treasurer Wayne Swan recently announced a ban on mortgage exit fees as of July 1, 2011. Australia has the most expensive exit fees in the world, averaging around $1500 and sometimes up to $7000, compared to $400 in the UK and around $550 in the US.
Laine Gordon -
04 Apr, 2011 -
2 min read
Home Loans
Lending criteria and you: how your job affects a loanWhether you’re in the market for a new vehicle, need to pay for your wedding or are planning on purchasing property, it’s important to note that your job plays a significant role in your chances of being approved for a loan.
Alex Ritchie -
28 Jul, 2021 -
4 min read
Home Loans
What is the mortgage loyalty tax?The term “mortgage loyalty tax” refers to the difference in interest rate costs that existing borrowers pay as a result of lenders offering new customers lower rates on home loans. Here's how to avoid it.
Peter Terlato -
27 Mar, 2023 -
5 min read
Cryptocurrency
The risks of cryptocurrency trading: what to look out forMost cryptocurrencies are unstable assets, prone to significant market movements and vulnerable to abrupt abolition. While there are some proven stayers, much of the industry is relatively fickle and exchanges have encountered extreme levels of volatility since inception.
Peter Terlato -
10 Nov, 2022 -
7 min read
Nonspecific
Scams and Fraud WarningRateCity has been made aware of a number of ways fraudsters and criminals are using Canstar Group (including RateCity) to attempt to trick consumers into handing over their financial details and personal information in recent months.
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19 Jan, 2023 -
3 min read
Nonspecific
Surcharge ban: success will be in the detailRateCity, Australia's leading financial comparison website, today welcomed the Federal Government's pledge to ban excessive surcharges on credit card payments but warned its success would be dependent on the regulators' ability to enforce such a ban.
RateCity -
20 Oct, 2015 -
3 min read
Nonspecific
Scams and Fraud WarningRateCity has been made aware of a number of ways fraudsters and criminals are using Canstar Group (including RateCity) to attempt to trick consumers into handing over their financial details and personal information in recent months.
-
19 Jan, 2023 -
3 min read
Nonspecific
Surcharge ban: success will be in the detailRateCity, Australia's leading financial comparison website, today welcomed the Federal Government's pledge to ban excessive surcharges on credit card payments but warned its success would be dependent on the regulators' ability to enforce such a ban.
RateCity -
20 Oct, 2015 -
3 min read