Sally Tindall

But the base rates, CBA's goal saver, right?

Their base rate at the moment, 0.25% if you miss those monthly terms and conditions.

So if you don't meet the monthly terms and conditions every single month, you're not getting a rate hike at all on your savings account.

I actually don't have that data handy.

I would say it's the Goldsaver account for CBA and Westpac Lifesaver.

They're some of the bank's most popular accounts.

I would say bonus rate savers.

are incredibly popular, but I don't have the split handy.

What I do know, though, is that for those savings people that have a bonus saver account, 41% aren't meeting the monthly terms and conditions every single month.

Almost half of people with those, yeah.

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.