Tagged With banks

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Australians will finally enjoy the ability to send each other money in “real time”, with the launch of the New Payments Platform this week. The platform is a mixture of new processes for settling transactions between banks, guided by the Reserve Bank of Australia.

But while this may make payments faster, it could also make them less safe.

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The Reserve Bank of Australia (RBA) is in the process of redesigning the country's banknotes with an emphasis on new security features. Following in the footsteps of the $5 and $10 notes, we now have a new $50 version - and we're beginning to come around to the updates.

Predicting the future is near impossible -- but that doesn‘t stop us all from having a red hot go. Human beings have been predicting the future since the beginning of history and the results range from the hilarious to the downright uncanny.

One thing all future predictions have in common: they‘re rooted in our current understanding of how the world works. It‘s difficult to escape that mindset. We have no idea how technology will evolve, so our ideas are connected to the technology of today.

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Last week, we were given a sneak peak at Halo: a new contactless payment system from Bankwest that puts your banking details into a ring. Boasting batteryless, app-free operation and waterproofing up to 50 metres, it's the first "IoT wearable" concept that I'm actually exited about.

It's also one of the cheapest wearables on the market, with an introductory price of $29. Here's what you need to know!

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Dear Lifehacker, I'm getting on in life and at this point it seems unlikely that my credit card debts will ever be paid off in full. (I can barely afford the monthly interest repayments, let alone the outstanding debt.) I also don't own much in the way of assets. So my question is: What happens to my credit debt when I die? Do I need to worry about my adult son getting saddled with my debt?

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A successful home loan application generally requires a steady job. However, there are a range of additional factors that can seriously hamper your borrowing power with banks, even if your salary is higher than average. This superhero-themed infographic outlines the various occupational pitfalls that can trip up applicants.

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The major Australian banks are following familiar public relations tactics in requesting a parliamentary commission of inquiry into banking and financial services. When the public mood is against an industry, it will try to win the public over, while getting the politicians to ignore the public mood. If that fails, the industry gradually concedes ground until attention goes elsewhere.

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Australia's 'Big Four' banks have decided to remove the cash withdrawal fee for using their ATMs. This means you will no longer be charged $2 for using a CBA, Westpac, ANZ or NAB ATM with your card, regardless of who you bank with. Or to put it another way, the banks are rorting us slightly less than before.

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Commonwealth Bank has removed fees for all bank customers that use its automated teller machines (ATMs). This means that members of ANZ, NAB, Westpac-St.George and other banks will no longer be slugged with a $2 cash-withdrawal fee for using CommBank ATMs. Hurrah!

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Studies of European countries show that bank taxes similar to the 0.06 per cent bank levy introduced by the government in the 2017 federal budget will be largely borne by customers, not shareholders. The levy could also make the banking system more, rather than less risky.

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Last week's announcement by the ACCC to block a number of banks from acting as a block in negotiating with Apple over access to Apple Pay was hardly a surprise, given previous comments by the business regulator. But it says a lot about some of the wealthiest and most powerful businesses in the country that they felt the need to get help from the regulator.

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Most of us have a stash of coins somewhere in our home. It could be a change jar, a drawer, or even a pile of the jingly, jangly stuff sitting on a window sill. You save it because, well, it's money, but also because it's a pain to carry around and actually use. Here's what to do with that massive coin stash.