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Market indices 30 July,2010
30/07/2010 07:06 Sydney, Australia.
Currencies 30 July,2010
30/07/2010 07:06 Sydney, Australia.
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Effie Zahos looks into the sting of mortgage exit fees.
You might think that if you put cash into your bank you could ask for cash if you wanted to take it out. Not so, according to one Money reader.
Banking: Explaining the differences between redraw and offset.
Banking: Explaining the differences between redraw and offset.
Interest rates and fees are likely to dominate the banking outlook for 2010 – Money’s awards make it easier to cope
No-one wants to run out of money when they are old. But plenty of people do – particularly if their investments are hammered by volatile markets.
Offset accounts were on the minds of a few readers last month and for very good reasons.
Bank fees hit the headlines this week after National Australia Bank tried to improve its image by axing the $30 it charges customers for going overdrawn.
The government has been urged to create a 'people’s bank' to offset the growing power of the big four banks.
I must admit that when I first heard that the Commonwealth Bank was throwing a lifeline to unemployed homeowners by deferring repayments by up to 12 months, I thought: “Clever big bank.” Clever because lenders have long offered hardship assistance but only the Commonwealth, now that the unemployment rate has hit a five-year high, was smart enough (and quick) to put a marketing spin on it.
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