Tag: Westpac

Business customers have showed the highest level of dissatisfaction with their banks since the end of last year, with NAB and ANZ customers reporting they’re least happy with their banks.

With insolvencies continuing to rise, SME owners and directors need to ask themselves if they’re being proactive in managing their banking relationship, both in good times and in bad.

The Government announced reforms designed to make it easier for people to switch banks overnight, with a Treasury-led working party to ensure the changes are enacted by July 1 2012.

Demand for business banking products has dropped significantly over the past four months, with commercial banks including the Big Four local providers as well as regional and international banks all reporting a downturn in demand.

Small businesses see little difference between the Big4 major banks and regional bank brands such as BankWest, BankSA and St George, new research has found.

The bank wars have just begun and small business owners may find themselves in the unusual position of having a whole lot more bargaining power than you might otherwise think.

Consumers remain positive despite successive interest rate increased from the Reserve Bank of Australia and increases in home loan lending rates above and beyond the RBA in November by all major banks.

The Australian dollar is trading at a two year high against the US dollar, hitting US96.08c during early trade this morning.

The Westpac – Melbourne Institute Index of Consumer Sentiment has bounced back 17 percent over the last two months as consumers burned by six RBA interest rate increases in nine months recover.

Westpac’s Melbourne Institute Leading Index has peaked, but will remain well above the long term trend of 3 percent over the next three to nine months, triggering fears of a rate rise in August.