Latest Banking & Finance News & Archive

Centrelink Overhaul: Foreign Currency Cheques To Be Phased Out From Dec. 19

Individuals affected by this change will be required to switch to electronic payment methods to send foreign currency.

Side Hustles Or Spending Cuts? Survey Reveals How Gen Z, Y, And X Australians Tackle Inflation

Survey found Gen Z and Gen Y are taking upsidehustlestosupportlifestyle

The survey polled Australians ranging between the ages of 18 and 59, and found that the Gen Z population and Gen Y were inclined toward taking up a side hustle rather than reducing their expenditure to support an affluent lifestyle.

Federal Government Boosts Welfare Payments: Who Will It Help?

Representational image of a social security card.

In the statement, the minister for Social Services, Amanda Rishworth, said, "We want to reduce disadvantage and maintain Australia's strong and sustainable social safety net by providing relief to those most in need. Through indexation, payments are adjusted in line with cost of living changes to ensure people have more money in their pockets."

Commonwealth Bank Faces Backlash Over AU$3 Withdrawal Fee: How Does It Compare To Rivals?

Commonwealth Bank decided to impose a AU$3 fee for in-person cash withdrawals following the disclosure of the company's astounding AU$410 million in cash services expenditures for the fiscal year ending June 2024.

More news

Reserve Bank of Australia chief Philip Lowe said the coronavirus is having a 'significant'effect' on the country's economy

NAB Slashes Fixed Mortgage Rates For Homeowners Amid Cost-Of-Living Pressures

Investor and owner-occupier interest-only fixed rates have been slashed by up to 0.65 percentage points, while owner-occupier principal and interest fixed rates have been lowered by up to 0.50 percentage points.

The Future of Finance: AI and VR Technologies in Fintech

One of the critical advancements in AI within fintech is its application in customer service. AI-powered chatbots and virtual assistants can now handle complex queries, enhance customer experience, and reduce operational costs.

Maximize Your Budget: 2024's Best Pre-Owned Vehicles For Long-Term Savings With Cars4Us

Since its establishment, Cars4Us has become a trusted destination for buyers and sellers alike, offering a wide selection of quality pre-owned vehicles backed by industry expertise and exceptional customer service.

Unveiling Payback Ltd: A Hope for Scam Victims in Australia

Payback specializes in assisting individuals all over the globe, and Australia in particular, in reclaiming their hard-earned money from deceptive schemes, providing a glimmer of hope in the face of financial devastation.

FILE PHOTO: Bitcoin (virtual currency) coins placed on Dollar banknotes, next to computer keyboard, are seen in this illustration picture, November 6, 2017.

Five reasons Bitcoin could enter a more extreme death spiral

Bitcoin is now steadily trading below US$4,000 and has been constantly on a downward ride over the last year, losing more than half of its market capitalisation.

Bitcoin turns ten: Here's how it all started and what the future might hold

A mysterious, anonymous entity known as “Satoshi Nakamoto” posted a white paper on October 31 2008 entitled “Bitcoin: A Peer-to-Peer Electronic Cash System”. It was the first time that the concept of Bitcoin entered the world.

Trusting the blockchain system to secure money

Blockchains are considered appealing to most companies, especially those who deal with international transactions.

Mobile money transfers have taken off in Somalia, But there are risks

A recent World Bank report showed that Somalia has one of the most active mobile money markets in the world, outpacing most other countries in Africa.

CBA to refund dead customers charged with ‘unauthorised fees’

The Commonwealth Bank of Australia will be refunding customers who were charged fees for no service.

Bitcoin's rollercoaster ride reflects the biggest issue facing cryptocurrencies -- Regulation

The rollercoaster of cryptocurrency pricing is on the downward slope again. Bitcoin has fallen by a quarter in the past month, with other large currencies such as Ethereum and Ripple down more than 40%. So where does this latest bout of losses leave cryptocurrencies?

Research suggests bigger banks are worse for customers

Recent research from economists at the United States Federal Reserve suggests this problem is not unique to Australia. If true, this supports the argument that larger financial institutions should be broken up or face more regulatory scrutiny.

Finance drives everything — including your insecurity at work

There’s a common link between the many things that have promoted insecurity at work: the growth of franchising; labour hire; contracting out; spin-off firms; outsourcing; global supply chains; the gig economy; and so on. It’s money.

Fake $50 notes circulating around Australian Capital Territory

Distinguishing the fake $50 notes being passed around in Canberra

The fake banknotes are “quite distinctive” from the authentic ones.

Think carefully before buying Bitcoin – and don't buy the 'safe haven' claims

The rapid price rise garnered attention from an increasing number of academics and investment advisers. Some have suggested that Bitcoin improves portfolio performance and can even be used as a potential “safe haven” asset in place of gold.

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018.

Bitcoin price manipulation puts trust in cryptocurrencies at risk

Unlike in markets for other assets such as stocks or bonds, cryptocurrency makes it much harder to uncover price manipulation and fraud.

CBA agrees to pay $700M penalty as AUSTRAC settlement

The penalty fee is still subject to court approval.

A man holds Australian banknotes in this photo illustration in Sydney May 8, 2012.

ANZ, Deutsche Bank, Citigroup to be charged with criminal cartel

ANZ Group Treasurer Rick Moscati, the Deutsche Bank and Citigroup, plus a number of individuals, will also be charged.

A view of a Commonwealth Bank of Australia branch in Sydney, Australia, April 18, 2018.

Commonwealth Bank admits losing 20M customer financial statements

Commonwealth Bank has admitted to losing historical financial statements of almost 20 million personal accounts in a 2016 incident and decided not to make it public

FILE PHOTO: An interior view of Chinese bitcoin mining company Bitmain's mining farm near Keflavik, Iceland, June 4, 2016.

Crypto mining remains a lucrative sector that attracts companies’ investments

When cryptocurrencies boomed in recent years, companies have started to venture into crypto mining to get a larger share of the pie.

Blockchain’s role in changing society for the better

Philanthropy and social work have the main objective of making the world a better place, particularly for the disenfranchised sectors of the society.

3 companies that prove riding the cryptocurrency, blockchain wave is worth it

These three companies took advantage of the opportunities to venture into the cryptocurrency and blockchain scene.

Ripple, Bitcoin, Etherum and Litecoin virtual currencies

Hedge funds, bitcoin collaboration on the rise

Cryptocurrency hedge funds had a banner year in 2017, and it looks like the industry will continue to grow in the next few months.

Why KODAKcoin could be the beginning of a new generation of cryptocurrencies

KODAKcoin may have kick-started a wave of new corporate coins and Global Blockchain Technologies (CSE: BLOC; OTC: BLKCF) hopes to benefit.

RBA reveals new Australian $50 banknote design

The new Australian $50 has been revealed. On Thursday, the Reserve Bank of Australia released the design of the new banknote.

Apple shuts down Westpac’s keyboard banking app

Apple has effectively shut down Westpac’s mobile banking keyboard app. The Australian bank will remove its Westpac Keyboard function on iOS in July after the US-based tech giant pulled the plug on it.

Fair Work Ombudsman: Horticulture business operators must provide written piecework agreement for backpackers

The Fair Work Ombudsman has encouraged horticulture businesses to provide a written piecework agreement for backpackers that the business would employ.

Australian mining sector sees increase in deals in 2016, values slump

Australia’s mining and metals sector enjoyed an impressive 2016 with the total number of deals increasing. According to a report from global accounting and consulting firm EY, an escalation of 31 percent was witnessed in the Australian mining M&A deal volume.

BANKING & FINANCE

Pages