*terms and conditions apply. See provider website for details.
| Provider | Interest Rate | Fees | Minimum Balance |
|
|---|---|---|---|---|
|
Up to 5.65% |
No monthly accounting fee | None | |
|
Up to 4.85% |
$5 (waived when you deposit a minimum of $2,000 by the last business day of the month) | $0 | |
|
Up to 0.01% |
No fees | $1 | |
|
Up to N/A % |
$5 a month (or free if customer deposits at least $2,000 per calendar month - eg their salary) | $1 | |
|
Up to N/A % |
$3 a month | $1 | |
|
Up to N/A % |
No monthly account keeping fee | No minimum opening or ongoing balance | |
|
Up to N/A % |
$5 a month | Does not apply | |
|
Up to N/A % |
No monthly fees | None | |
|
Up to N/A % |
No Fees | $0 |
After a brief respite in the war for depositors, Westpac chief executive Gail Kelly is upping the ante amongst the big four lenders, by saying that Westpac intends to increase its reliance on deposit based funding for the year.
Despite making a concerted effort to break into and achieve dominance in the business banking segment, Australian banking major National Australia Bank is the least popular of the Big Four banking groups, amongst business customers.
Nearly 40,000 bank customers have signed up to what looks like Australia’s largest ever class action law suit, with the initiator saying it believes it will register as many as half a million claimants for legal action seeking reimbursement of “exorbitant” exception fees.
David Liddy, chief executive of regional lender Bank of Queensland says the market for retail deposits has become dysfunctional, and wants the government to help restore competition between smaller regional lenders and the major banks.
Many of us who use current accounts for our primary bank account make a number of common mistakes, thinking that it is nothing more than a place to stash one’s cash. Used in the correct manner, the humble current account can be so much more than that. Used in the wrong way it can prove very costly, resulting in having to hand over lots of cash to your bank for no reason.
Here are four current account mistakes to avoid.
*terms and conditions apply. See provider website for details.