The ranking does not represent an implied recommendation for a particular financial product on the part of comparedinkum. Visitors should evaluate each individual product and choose the product that suits their requirements the best.
Bank accounts are used by people for many reasons. Some people prefer transaction accounts, where the account is used for paying in their salaries and paying bills. Others use bank accounts to save money, with those accounts offering interest on the balances enabling people to earn on what has been saved. Some transaction accounts come with overdraft facilities, whilst some savings accounts expect the holder to keep the balance for a specified term and are known as term deposits. There are therefore a number of bank accounts, which include:
Every month, the bank will send a statement regardless of what type of account is held. The statement enables the holder to check what has been spent, what has come in and how much is earned in interest. The statement will also detail what has been charged in fees and commissions for running the account. It is important that bank account holders always check their statements to ensure they have not been charged fees erroneously. Some bank accounts offer immediate and pre-approved access to credit in the form of overdraft facilities. Before using the credit it is important to note what the interest rate and fees are charged for making use of the credit facility. All bank accounts now come with phone banking facilities and with internet banking it has become easier than ever to manage finances.
Regardless of what your financial requirements are, comparedinkum.com.au brings together a range of options from a variety of banks that will help everyone from first time savers to the most seasoned investor. You will find transaction, savings and term deposit accounts organised in an easy to understand way that will help you make an informed choice very quickly.
If you are bewildered by how much choice there is when comparing bank accounts, follow these five simple steps for determining which bank account is best for you.
Over $200 million has been stolen from Australian financial institutions by employees over the last 13 years with most thefts the result of gambling addictions.
123 people have been caught for such offences and since January 2000 there were 120 cases of fraud nationally according to the Employee Fraud in Australian Financial Institutions. There were 69 cases of fraud involving Australia’s big four banks. Continue reading
Shareholders in CBA are enjoying both record dividends and share price but have criticized the lender over the revelation that its retirement planners lost millions of dollars in investments.
Directors of the company faced shareholders for the first time during its annual general meeting following the revelation that rogue planners lost millions in retirement cash as a result of placing client money in high risk investments without permission. Continue reading
The number of home loans that received approval rose in September in response to low interest rates. According to the Australian Bureau of Statistics the number of owner occupied mortgages that were approved increased by 4.4 per cent which is well ahead of analyst expectations of 3.5 per cent.
The rise in home loan approvals comes a month after the Australian central bank eased interest rates to a record low of 2.5 per cent. Continue reading