Creditcard Deals - Terms and Conditions
1. General
These terms and conditions, together with any additional terms, notices and disclaimers contained elsewhere on the Creditcard Deals (CCD) website (collectively the Terms of Use) comprise the conditions on which you may have access to the CCD website and use of content and other services on the CCD website. Your continued access and use of the CCD website constitutes your ongoing acceptance and acknowledgment of these Terms of Use, as amended from time to time. If you object to any of these conditions, you must immediately discontinue your access to and use of the CCD website.
These Terms of Use are governed by the law in force in Australia. Both you and CCD irrevocably submit to the non-exclusive jurisdiction of the courts of Australia and courts of appeal from them.
2. Copyright
The CCD website is the copyright property of CCD or applicable third parties. Subject to the conditions prescribed under appropriate Copyright Acts or similar statutes that apply in your location, you may not, in any form or by any means, adapt, reproduce, store, distribute, transmit, print, display, perform, publish or create derivative works from any part of the CCD website without the written permission of an authorised representative of CCD.
3. Trademarks
Product and company names mentioned herein may be trademarks and / or service marks of their respective owners. The trademarks, logos and service marks displayed on the CCD website are the property of their respective owners.
4. Errors, Omissions or Discrepancies
Every effort has been made to ensure that the CCD website works correctly and that the information contained within it is accurate and up to date. Any cases of perceived inconsistency or error should be advised to CCD by contacting us and we will endeavour, where practicable, to address any such issues identified to us [but see CCD disclaimer].
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.