Credit Card Deals from the Bank of South Australia
| Credit Card | Purchase Rate | Balance
Transfer |
Interest Free | Reward Points | Card Fee | |
|---|---|---|---|---|---|---|
| BankSA Vertigo MasterCard - Instant discounts and added extras with BankSA Instant Benefits. Receive a complimentary additional card for your friends or family. | ||||||
 |
12.49% p.a |
2.99% p.a (for up to 6 months) |
Up to 55 days | BankSA Instant Benefits | $55 |  |
| BankSA Platinum Visa - Personal Concierge Service, Overseas travel, transit accident, purchase cover, extended warranty insurance | ||||||
 |
15.74% p.a |
3.99% p.a (for the first 6 months) |
Up to 55 days | Exclusive Platinum card programs offered by Visa and MasterCard | $89 | |
What is BankSA? Date Published : Friday, May 16, 2008
One of the country's oldest financial services companies, BankSA has been part of the Australian banking sector since its very foundation in colonial times.
Its history, the backing of one of the country's largest banks and wide range of products has kept it at the top end of Australia's financial system for over 150 years.
Founded in 1848, the Savings Bank of South Australia was the forerunner of today's BankSA and it began as a small one person outfit in Gawler Place, Adelaide.
Providing savings services to the local mining companies, the bank grew and within a month started offering loans for land purchase. To this day, it is still a major player in the home loans and personal loans markets.
Many prominent South Australian's have been associated with the bank through the years, with its first chairman no less than Robert Torrens, who was followed in the post by Uluru discoverer Henry Ayers.
The bank survived until the 1970s when tough financial pressures saw it search for other alternatives and, in 1984 it merged with the State Bank of South Australia, with the merged entity taking the latter name. The Bank of South Australia - also known as BankSA - was bought by St George Bank in the 1990s and is now the Sydney-based bank's main public facing service in South Australia.
Nowadays, BankSA offers a range of financial products, including mortgages, credit cards, savings accounts, super funds, personal loans and wealth management funds.
Compare your current credit card rates with Australia's top providers.
BankSA Vertigo MasterCard
BankSA Platinum Visa
Australian Finance News
Australian Banks Continue To Battle For Deposits By Offering High Introductory Rates
Australia’s largest banks are using high introductory online savings rates to attract retail deposits and expand their deposit bases. Despite the high introductory rates, the lenders later aggressively cut back their deposit rates in order to preserve their profit margins.
The investment bank Macquarie conducted an analysis of the online savings market which found that the big four Australian lenders, as well as some international rivals were offering introductory rates that were as much as 200 basis points higher than the 4.5 per cent official cash rate.
QBE Denies Chief Executive To Step Down
Australian insurance major QBE has moved to end speculation that its chief executive is poised to step down. QBE chief Frank O'Halloran has run the company for the last twelve years, and the insurer says that he would continue in that role "for the foreseeable future".
Rumours of Mr. O’Halloran’s departure ricocheted around the insurance industry this week, when speculation began to emerge that Mr. O’Halloran would hand over the reigns of the company to Peter Harmer, a senior executive at insurance broker AON.
Research Firm Says ANZ Offers Best Value For Small Business
Australian banking major ANZ, has been named by a financial research firm as the lender which provided the best value banking service for small business. Despite the accolade, ANZ has not managed to convince all the decision makers in the business sector, and still lags behind rivals.
Canstar in issuing the award said certain product features that matter a great deal to small business provided by ANZ including credit facilities and loans.
But this has yet to translate into higher customer satisfaction levels with the bank.
JP Morgan To Cease Proprietary Trading
Global banking giant JP Morgan has apparently decided to close down its proprietary trading operations, sources from within the bank say. According to an unnamed source quoted by Dow Jones, JP Morgan has issued notice to approximately 20 proprietary traders that trade commodities.
JP Morgan has never had a huge focus on proprietary trading, and it’s prop trading desks have tended to be small. Nevertheless those desks have been affected by regulatory reform and in particular the Volcker Rule, which forbids banks from proprietary trading, proprietary investments in hedge funds and private equity.
Australians Believe Not Enough Competition In Banking
A survey undertaken by Australian wealth manager AMP suggests that nearly 78 per cent of all Australians believe that acquisitions by banks should be restricted.It is no coincidence that the survey results were released on the eve of the ruling by the competition regulator on National Australia Bank’s proposed acquisition of Axa Asia Pacific Holdings.
According to the AMP survey, an overwhelming majority of 71 per cent of people polled say they believe that there needs to be increased competition within the Australian financial services sector.