Consumers

Fact Sheets

The Australian Bankers’ Association provides information to the public about banking and financial issues that affect all Australians.

If you cannot access any of the fact sheets, please freecall 1800 009 180 and we will arrange to get you a copy of the information that you require.

A strong banking system 13 January 2012: Australia has a long history of stable and safe banks. One indicator is the fact that virtually no Australian has lost their deposit in an Australian bank in the last 100 years. The last failure where depositors’ money was lost occurred in 1931 when depositors in the Primary Producers Bank of Australia lost a negligible amount of their deposits.

ATM Direct Charging – When you use an ATM in Australia that doesn’t belong to your bank 3 March 2009: From 3 March 2009, there will be a significant change in the way bank customers pay for certain ATM transactions. The change affects the way customers are charged for using ATMs in Australia that don’t belong to your bank – a ‘foreign ATM transaction’. Direct charging at ATMs starts on 3 March 2009. These changes only affect transactions where a bank customer uses an ATM owned by another institution – this is known technically as a foreign ATM transaction.

Bank Account Basics 13 January 2012: Need somewhere to have your salary paid? Need somewhere to make regular payments? Need somewhere to secure your savings? Money and banking are part of everyday life. Banks offer all sorts of financial products to help you manage your money on a day-to-day basis. Managing money is getting more and more complicated, so it’s good to know and understand the basic features available in most bank accounts.

Bank Profits - Frequently Asked Questions 24 October 2012: Each year, as the bank reporting season gets underway, there’s a great deal of commentary regarding banks’ annual profit results. With the aim of improving the quality of the debate, the Australian Bankers’ Association (ABA) has produced a frequently asked questions fact sheet about banks’ profits. The fact sheet covers what profit is, why it is important, and why the reported numbers appear large. It begins with answering basic questions about the nature of banking and ends with an assessment of whether bank profits are too high.

Banking on the go – security tips for your smartphone and tablet 25 September 2012: Australians love new technology. According to a global survey by Googlei, Australia has one of the highest smartphone penetrations in the world at 37 per cent – just behind Singapore – and we're also consuming more applications (apps) than the US or Britain. The research noted we're also leading the way in mobile banking, with Australians 65 per cent more likely than the British and 14 per cent more likely than Americans to conduct banking on our phones. And by 2016, mobile payments are expected to reach $US617 billion worldwide – that‟s nearly a sixfold increase from 2011 at $US105 billionii. That‟s because banking on your computer, tablet or smartphone is so convenient. You can do your banking when it suits you, not just when the branch doors are open. Banking from your office, the lounge room, when travelling and on holidays – being able to do your banking whenever and wherever you like, puts you in charge. Being able to check your balances, track your savings, set goals and make payments all help you cont ...

Budgeting made easy 13 January 2012: No matter what your financial situation, being good with money is a core life skill. Whether you have a little or a lot, there are some basic practices that can help you take control and stay on top of your finances. Maybe you have your first job and want to learn how to accurately budget. Perhaps you’re saving up for a major purchase, such as your first home, and you’re looking for some ways to cut back your expenses. Maybe you’re experiencing financial difficulty and need to find ways to take control of your finances. Or you may just need help putting in place some realistic financial goals.

Cheque Clearance 13 January 2012: Cheque funds are not available immediately after the funds are deposited in a bank account. Once you deposit a cheque, the funds are normally available after three business days. If you require access to your funds earlier than this, you can request a fast clearance for a fee when you deposit the cheque.

Code of Banking Practice 13 January 2012: The Code establishes the banking sector’s key commitments and obligations to its individual and small business customers on standards of practice, disclosure and principles of conduct for their banking services.

Comparison of APRA and the Basel Committee on Banking Supervision Basel III capital rations 14 December 2012: In implementing the Basel III capital framework in Australia, APRA has elected to adopt a more conservative approach than the Basel Committee on Banking Supervision (BCBS) Basel III minimum requirements. This fact sheet provides an explanation of the key differences between APRA’s Basel III rukles and the BCBS Basel III minimum requirements and the impact of converting APRA Basel III capital ratios to fully implemented internationally harmonised Basel III capital ratios focussing on Common Equity Tier 1 capital ratios.

Competition Benefits Consumers 13 January 2012: Australia's 19 million bank customers enjoy the benefits of strong competition in a deregulated banking system.

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The Australian Bankers’ Association is warning of a telephone survey scam which is falsely using the ABA’s name in an attempt to de-fraud bank customers.

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