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5 stories in the last 60 days, newest first.
A bank customer contesting an unauthorised credit enquiry on their Equifax credit report was offered a $500 goodwill payment by Westpac to settle the dispute. The case highlights how consumer persistence can resolve inaccurate credit reporting marks.
Macquarie Bank customers have begun noticing surprise $500 payments deposited directly into their accounts, labelled as goodwill credits. While some initially feared a transfer scam, the payouts appear tied to bank remediation for historical overcharging.
Digital lender Up Bank announced it will raise its Grow savings account rate from 5.60% to 5.85% p.a. starting 12 November for balances up to 50,000. Customers still need to make five monthly card purchases to unlock the bonus rate, while its base Flow account remains steady at 2.00%.
The Reserve Bank lifted interest rates to 4.85 per cent this week, marking an 18-year high. Deputy governor Andrew Hauser acknowledged that Australians are losing confidence in the central bank’s near-term ability to pull inflation back to target as high living costs bite.
US markets tumbled following the midterms as euphoria around AI infrastructure spending met fresh scepticism, ABC reports. The sell-off also spilled over into local trading, weighing down the ASX as tech valuations faced a reality check.
