Budgeting Tips A plan for the new year can start with a budget – a spending plan based on income and expenses. Here are some top budgeting tips from the Australian Government, and us at MOVE Bank. First and foremost, if you haven’t already signed up for Your Financial Wellness - an independent online platform which helps you understand your financ...

Scams continue to be the easiest way criminals trick people into providing access to their accounts or transferring money. A recent post from Scam Watch reports a 160% increase in myGov scams in January 2023 compared to the previous month. Don’t be fooled though if it’s not myGov, scams are essentially always the same under different guises. Whethe...

The Government Guarantee Scheme was put in place during the Global Financial Crisis (GFC) in 2008 to give the public confidence in the Australian Banking System. Nowadays, it is the known as the Financial Claims Scheme (FCS). The FCS is a government-backed safety net for deposits of up to $250,000 per account holder per Authorised Deposit Institut...

Incredibly, it was only in May last year that the RBA increased the cash rate for the first time since 2010.* We have now seen a record-breaking string of increases that have risen us to the highest cash rate in over a decade. While this is far from the highest the cash rate has been, the longer-term low interest rates have contributed to much hi...

As we head into the new year, many of us will be thinking about what the fresh start can bring and our goals for 2023. If your goal is to improve your financial position, we are here to help! A goal without a plan is just a wish, so here are some tips to help turn your wish to reality. Kick start your savings by taking out a Growth Saver! That’s ...

Our AGM provides an opportunity for MOVE Bank members to vote on motions relating to the governance of the organisation and ask questions directly to our Board of Directors and Executive Staff. At this year’s AGM members approved the following motions: The re-election of Scott Reidel as a Director The re-election of Mick Skinner as a Director ...

Working in the MOVE Bank contact centre, I am aware that we have a member base with long memories. The Whitlam years, the introduction of GST, the fall of the Berlin Wall. I mention this because if we have spoken over the phone about any potential scams that concerned you, I have given you this piece of advice: trust but verify. Trust but verify i...

The Bank of Mum and Dad is now one of Australia’s largest lenders. Housing prices have boomed nationwide since the start of the pandemic, meaning many parents and grandparents are keen to assist their children in making that often difficult first step onto the property ladder. But what is the Bank of Mum and Dad? The phrase can generally mean two ...

If you ever find yourself splitting bills and trying to transfer money between friends, you need to know about PayID. PayID is an alternate name that you can give to your bank account details, making them much easier to share. Your PayID can be your phone number or email address. Not only is that easier to remember and share than a BSB and account...