New research shows 71 per cent of Australians are concerned about going completely cashless – especially Baby Boomers, regional and lower-income Australians. “Research by payments technology company Waave found 41 per cent of Australians are “extremely concerned” about going cashless. Two-thirds say it will exclude people and exacerbate economic inequality, 58 per cent worry about paying more fees, and 42
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Wednesday 20 September 2023: Today, Commonwealth Bank boss Matt Comyn insulted millions of Australians who use physical cash by implying they are being subsidised. However Australians have no choice but to open a bank account if they want to get paid from an employer, Centrelink or the Tax Office. This government mandate effectively subsidises and underpins Matt Comyn’s massive salary and the obscene profits of his dominant
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Last week the RBA’s systems failed leaving thousands of Australians without fast personal payments. The New Payments Platform powers OSKO real time payments that are used by many Aussies to send money to other people via their phone number or email address. The Reserve Bank said in a statement that an error occurred during a planned change to the software
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ATM cash withdrawals are trending up and there’s more cash on issue than ever before. New data from the Reserve Bank of Australia reveals the number of ATM cash withdrawals is trending up in 2022. The value of cash withdrawals is stable, indicating that cash is being withdrawn for daily use, not for hoarding. RBA data also shows the total amount of cash on
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Reserve Bank of Australia data shows Australian consumers have rushed back to withdrawing cash after an initial plunge during the first few months of the COVID-19 pandemic. There were 45 million cash withdrawals from Australian ATMs (worth $10.6 billion) in December 2019. That number fell to 22 million withdrawals worth $6.5 billion in April 2020 then bounced back to 35
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If you don’t need a packaged up credit card, insurance, redraw, offset account or ‘personal face-to-face service’ then you could save thousands of dollars by choosing a cheap loan deal that is just that – a loan and nothing much else. You may have to find a lender that doesn’t have a brand name known by all Australians because all
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Thousands of first home buyers will save thousands of dollars after Victoria abolished stamp duty for first home buyers on properties worth up to $600,000. What help does your state government provide for first home buyers? Find out more about government help for first home buyers in each Australian state here.
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Not all credit card rewards programs are good value. Some credit cards with rewards programs will give you a free flight only after spending tens of thousands of dollars. Other credit cards have much higher earn rates. And right now, there are credit cards offering to give you thousands of frequent flyer points just for signing up. That’s more than enough
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Right now, Australian savings accounts offer interest rates between 0.00 per cent and 3.05 per cent. If you can get a good rate of around three per cent on your savings, your money is growing and staying well ahead of the inflation rate, which is 1 percent. You don’t need to settle for the savings account offered by your own
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