Sally Tindall
speaker
491 appearances
5 recordings
3 series
first heard Apr 2022
last heard 30 Jun
Sally Tindall’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jun 2026 with 1.
Appearances
It's not a surprise at all because you see the banks focus on it so much.
So you know that there must be people missing out if they're happily passing on that rate hike to the maximum ongoing rate, but the base rate stays the same.
What that tells me is that they're catching people out and helping use that strategy to boost their profit margins.
I should say in this research, this is Canstar research, it's 41% of people with a bonus saver account that don't meet it every single month.
It includes 11% of people
with a bonus saver account that never, ever meet those monthly terms and conditions.
Yeah.
No, I do know that the ACCC has looked at this as well.
It's the bugbear for the ACCC and the government has come through and said that they would look at it because it's really, I think, up to the banks to start explaining those monthly terms and conditions better to their customers.
Clearly, it's a loophole that they're willing to flaunt at the moment.
Some banks do the right thing, other banks less so.
And really, there should be a rule in place where the banks have to notify you towards the end of the month
to tell you if you're not going to meet those monthly conditions?
It does depend on what type of savings account you have or a term deposit.
I would say as a highly competitive person myself, I would say with a no-strings-attached account.
you want to be aiming for about 4.5%.
Now, you have to shop around to get that kind of rate, but we are seeing an increase in competition in this space because Macquarie has been the market leader in this space, no frills accounts, and they're offering a rate of 4.75% after that March cash rate hike.
But AMP has upped the ante in recent months.
It's now offering an ongoing rate of 4.85%.
Easy Street also offering a rate of 4.80%.
Showing 181–200 of 491 · page 10 of 25
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