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When Australians reach to pay for something, the debit card, using their own money, is often their first choice.
In fact, debit card usage continues to outstrip all other cards, with a whopping 5.6 billion transactions over the year ending November 2017.
New analysis reveals Australians are becoming smarter in the way they manage their credit cards, with overall debt falling over the past year, the percentage of debt accruing interest at a historical low and a very low use of available credit card limits.
New research released today shows Australians believe banks are heading in the right direction, becoming more customer focused and are starting to see the Banking Reform Program – Better Banking deliver results.
Great news for Australian small businesses who are now paying $9 billion less in interest on current loans than compared to the same time in 2011, with the average interest paid the lowest in 20 years.
Fifteen banks will continue to provide fee-free ATM services for customers located in some of Australia’s most remote communities.
After hundreds of hours of development and more than 50 meetings with banks and key stakeholders over the past nine months, the new Banking Code of Practice has been sent to ASIC for approval.
Representatives of Australia’s mortgage broking industry have prepared a landmark reform package that will improve consumer outcomes and confidence in mortgage broking.
Australia’s banks have welcomed the Prime Minister’s decision to take action and provide certainty to the Banking industry to the benefit of the national economy and all Australians. Banks will fully co-operate with the Royal Commission.
Former Disability Discrimination Commissioner, Mr Graeme Innes AM, has been appointed by the Australian Bankers’ Association to head up a review of existing electronic accessibility standards.
A recent survey has found that Australians believe that banks are better at keeping their personal data secure than government agencies, online retailers or social media platforms.
Renewed calls for a Royal Commission into Australia’s banks fail to recognise that they are now undergoing the greatest program of reforms seen in decades.
The Australian Bankers’ Association has welcomed the South Australian Government’s decision to abandon its plans to introduce a bank tax.
The Australian Bankers’ Association has welcomed the prospect of increased competition and a better deal for consumers, but believes the comprehensive credit reporting regime announced by the Treasurer raises some important questions.
There are now just a matter of days before the South Australian Parliament decides to either protect South Australian jobs and investment, or undermine them, by introducing an unpopular bank tax.
Reports today that almost 75 per cent of small and medium South Australian businesses oppose the state Government’s planned bank tax demonstrate again that the proposed levy should be dumped before it further damages the SA economy.
The Australian Bankers’ Association has welcomed the latest progress report from former auditor-general Mr Ian McPhee AO PSM, which has found that banks are on track regarding the six reform initiatives.