Banks & Credit Cards

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Originally Posted by 1950landy

My account turned up yesterday 12th June I payed it on the 4th June the day it was due , so off to see the bank manager tomorrow to as why & find out why they are not giving me 21days between when they process it to the due day . I know I can receive it by Email but should not have to if they give me the 21 days the government stipulates as the other bank I deal with dose . You mite call me old fashion ( I still drive a 69 year old Land Rover) but I like to have a paper account other wise I have to print what they send me or rely on my memory to look it up & pay it by when it is due.

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They want your email address so they can bombard you with advertising.

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Originally Posted by DiscoMick

Westpac only cut by 0.2 and pocketed the other 0.05, following ANZ cutting by 0.18. This is despite the cost to banks raising money having fallen.
The American banks caused the GFC and our major four see no better.
Go to a smaller bank for a better deal. There are plenty out there. When we last refinanced through a broker we compared 20 and chose BOQ.

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Can someone explain the relationship between the Reserve Bank Official Rate , which just dropped by 0.25% and the cost of funds to any Bank which come from diverse sources, deposits, term deposits, bonds, borrowings from overseas (plus hedging) I was thinking SRD's (Statutory Reserve Deposits) but they were abolished in 1988, and were a deposit by the Bank not a loan to the Bank

Please explain! As i have not heard any Politician or Journalist explain it, and they are experts in everything.

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Originally Posted by 1950landy

But I am happy with snail mail & if the bank gave me the correct amount of tine between when they process the statement & the due date which by law set by the government is 21days & not 10 days or less with the due date ranging from the 2nd to the 9th of the month were the due date should be the 4th then there would be no problem with snail mail. I would say you have been lucky so far & not had an attack on your computer . I buy good quality anti virus programs but they still manage to get in & switch off the anti virus & lock it so it can not be switched on again, always do it late Friday night then start searching

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Do you turn off your Computer when not in use? An old habit i got into with dodgy power

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Originally Posted by Eevo

in adel, its impossible to get a tradie to turn up otherwise, quite literally, unless you say in the first phone call your paying cash, they are booked out. offer cash and suddenly they have an opening.

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Same as strippers then [biggrin]

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Originally Posted by AndyG

Can someone explain the relationship between the Reserve Bank Official Rate , which just dropped by 0.25% and the cost of funds to any Bank which come from diverse sources, deposits, term deposits, bonds, borrowings from overseas (plus hedging) I was thinking SRD's (Statutory Reserve Deposits) but they were abolished in 1988, and were a deposit by the Bank not a loan to the Bank

Please explain! As i have not heard any Politician or Journalist explain it, and they are experts in everything.

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The official rate is the rate the banks charge each other on overnight loans.

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Originally Posted by AndyG

Same as strippers then [biggrin]

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you have to pay them? you must be as ugly as Eevo[bigwhistle]

What’s the going rate? 🤪

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Originally Posted by Meccles

What’s the going rate? 🤪

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That would depend on how much "Interest" you want to pay.

Definitely off topic.

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Originally Posted by AndyG

Can someone explain the relationship between the Reserve Bank Official Rate , which just dropped by 0.25% and the cost of funds to any Bank which come from diverse sources, deposits, term deposits, bonds, borrowings from overseas (plus hedging) I was thinking SRD's (Statutory Reserve Deposits) but they were abolished in 1988, and were a deposit by the Bank not a loan to the Bank

Please explain! As i have not heard any Politician or Journalist explain it, and they are experts in everything.

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Banks' Funding Costs and Lending Rates | Bulletin – March Quarter 2012 | RBA

Banks' cost of funds don't simply track the cash rate - it depends on their mix of funding at a particular time. That's what their internal treasury groups manage.