News & Blogs

Interest Rate Update

Tue, 17 Mar 2026 02:37:23 Z

Auswide Bank will increase interest rates for new and existing variable rate home loans, residential investment loans, lines of credit and overdrafts by 0.25% p.a. effective from Thursday 26th March, 2026.

For at call deposit accounts, our Cash Management account, Self-Managed Superannuation Fund, Online Saver and Business Access Account will see an increase to interest rates effective Thursday 26th March, 2026. Interest rates for our Bonus Plus Saver and Ziggy Kids Saver will also see an increase effective Wednesday 1^st April, 2026.

Update for customers:
Auswide Bank will notify existing lending customers in writing to inform them of any changes to their repayment details.

Auswide Bank continues to put customers first

Thu, 26 Feb 2026 01:06:12 Z

We are excited to announce that Auswide Bank is now a subscriber to the Banking Code of Practice. The Banking Code of Practice sets clear standards for how banks should treat customers. By subscribing to the Code, we formally commit to meeting these standards across our products, services, and the way we engage with our customers.

“Although we already hold ourselves to high standards, this is about continuously improving and making things even better for our customers. Becoming a Banking Code subscriber strengthens our processes and protections, supporting fair, transparent, and responsible banking, said Damian Hearne, Auswide Bank General Manager.”

What this means for our customers

In practical terms, becoming a Banking Code of Practice subscriber means:

clear and transparent information about our products, fees, and terms
fair and respectful treatment at every stage of the customer journey
responsible lending practices that consider customers’ financial circumstances
stronger support for vulnerable customers, including those experiencing financial hardship
Clear pathways for raising concerns or complaints, with fair and timely resolution.

Our commitment to doing the right thing

Subscribing to the Banking Code of Practice reflects our ongoing focus on building trust and long-term relationships with our customers.

We believe this is a positive step forward for our customers and an important part of delivering banking services that are fair, ethical, and put customers first.

For more information about the Code, visit our Banking Code of Practice website page.

The risks of using public Wi-Fi and how to stay safe

Sun, 22 Feb 2026 22:55:09 Z

Free public Wi-Fi can feel like a lifesaver when you’re out and about, but public Wi-Fi is also one of the easiest ways for scammers to access your personal information if you’re not careful.

Here’s how scammers use public Wi-Fi to their advantage, and the safer alternatives to consider when you need to get online away from home.

Why public Wi-Fi can be risky

Public Wi-Fi networks are usually open or lightly protected. That means anyone nearby can connect, including scammers. Unlike your home internet, these networks often don’t encrypt the data you send and receive, making it much easier for cybercriminals to intercept.

Scammers know many people will connect to Wi-Fi when it’s available and usually access their mobile banking, email and online shopping, which makes public Wi-Fi a prime hunting ground.

Common ways scammers use public Wi-Fi

1. Fake Wi-Fi networks

One of the most common tricks is setting up a fake network with a convincing name, such as “Free Airport Wi-Fi” or “Café Guest Wi-Fi”. You connect thinking it’s legitimate, but the scammer now has a direct line to your device.

Once connected, they may:

Monitor what you’re typing
Redirect you to fake websites
Capture login details like usernames and passwords

Tip: If you’re unsure, always ask staff for the exact network name before connecting.

2. “Man-in-the-middle” attacks

This is when a scammer secretly positions themselves between you and the website you’re using. You think you’re communicating directly with your bank, email provider or social media account, but the scammer is intercepting the information in between.

This can allow them to:

Steal login details
Read private messages
Collect financial information

These attacks are hard to spot and can happen silently in the background.

3. Malware downloads

Some public Wi-Fi networks prompt you to “accept terms and conditions” or download something before you can connect. In some cases, this can be malware disguised as a legitimate update or login page.

Once installed, malware can:

Track what you type
Access saved passwords
Monitor banking or shopping activity

Tip: If a Wi-Fi network asks you to download software to connect, don’t use it.

4. Session hijacking

Even if you don’t log in to anything new, scammers can sometimes hijack existing sessions. For example, if you’re already logged in to social media or email. This can give them access without needing your password.

From there, they may:

Send scam messages from your account
Attempt password resets on other services
Gather information for identity theft

What information is most at risk?

When using public Wi-Fi, scammers are often looking for:

Online banking logins
Email passwords
Social media accounts
Credit card details
Personal information such as date of birth or address

Even small bits of information can be combined and used for identity fraud later on.

Safer alternatives to public Wi-Fi

The good news is you don’t have to avoid the internet altogether when you’re out. There are safer ways to stay connected.

1. Use your mobile data

Your phone’s mobile data connection is usually much more secure than public Wi-Fi. If you’re accessing sensitive information such as banking apps, paying bills, or logging into important accounts, mobile data is the safest option.

Tip: If you’re worried about data usage, save heavy browsing or streaming for when you’re back on a trusted network.

2. Use a personal hotspot

If you’re using a laptop or tablet, tethering it to your phone’s hotspot is far safer than connecting to public Wi-Fi. You’re essentially creating your own private network.

Make sure your hotspot:

Has a strong password
Isn’t left on when not in use

3. Consider a VPN

A Virtual Private Network (VPN) encrypts your internet traffic, making it much harder for scammers to see what you’re doing, even on public Wi-Fi.

While VPNs aren’t foolproof, they add an extra layer of protection, especially if you travel often or work remotely.

Tip: Choose a reputable, paid VPN provider. Free VPNs can sometimes collect and sell your data.

Smart habits if you must use public Wi-Fi

Sometimes public Wi-Fi is unavoidable. If that’s the case, these habits can reduce your risk:

Avoid banking and shopping on public Wi-Fi
Don’t log into banking apps, enter card details, or make payments unless you’re on mobile data.
Look for “https” websites
The “s” means the site is encrypted. While not a guarantee of safety, it’s better than unencrypted sites.
Turn off auto-connect
This stops your device from automatically joining unsafe networks without you realising.
Log out when you’re done
Don’t stay logged into accounts longer than necessary.
Keep your device updated
Software updates often include security fixes that protect against known vulnerabilities.

What to do if you think you’ve connected to a scammer’s Wi-Fi

If you realise or even just suspect that you’ve connected to a fake or unsafe Wi-Fi network, don’t panic. Acting quickly can reduce the risk of anything serious happening.

Disconnect immediately
Turn off Wi-Fi on your device straight away - this cuts the connection and stops any further information being shared.
Avoid logging into anything else
If you’re still connected, don’t log into email, social media, banking apps, or shopping websites. Once you’ve disconnected, switch to mobile data or a trusted network before doing anything online.
Change your passwords
If you logged into any accounts while connected, especially email, banking, or social media, change those passwords as soon as possible. If you reuse the same password across multiple accounts, change it everywhere.
Check your accounts for unusual activity
Keep an eye out for unknown transactions, password reset emails you didn’t request, messages sent from your account that you didn’t write and new devices or locations listed in your account settings.
Run a security scan on your device
If your device downloaded anything while connected, or you were prompted to install software, run a security or antivirus scan. This can help identify malware or suspicious activity.
Contact your bank if needed
If you accessed banking apps or entered card details while connected, contact your bank and let them know what happened. It’s always better to report concerns early, even if nothing seems wrong yet.

Scammers are becoming more sophisticated, and public Wi-Fi attacks are difficult to detect until it’s too late. A quick check of emails at a café can turn into months of dealing with fraud, identity theft, or compromised accounts, and understanding how these scams work makes it easier to make safer choices and protect your personal and financial information.

A few small changes can go a long way in keeping your information, and your money, safe while you’re out and about.

Learn more about scams and how to protect yourself by visiting our website.

This information provides general advice only. We do not provide advice based on any consideration of your personal objectives, needs or circumstances.

Cutting costs when hosting a kids’ birthday party

Sun, 22 Feb 2026 22:46:12 Z

Kids’ birthday parties can feel like a financial minefield, especially when social media makes it seem like every party needs a theme, balloon arch and custom cake.

The good news is your child doesn’t need a $500 party to have a great birthday. Here are practical, realistic ways to cut costs while still giving your child a party they’ll love.

1. Rethink the guest list

The number of children you invite has a direct impact on almost every other cost. More guests usually mean more food, a larger venue, bigger party bags and less time for individual attention.

Instead of inviting the entire class, keep parties smaller and more intentional. A group of close friends doesn’t mean less fun, it can feel more special having time to really play together and be far easier to manage.

If your school community has an unspoken expectation to invite the entire class, particularly in the early years, it’s important to be clear about boundaries early on, especially when it comes to siblings. Allowing siblings to attend as well can quickly double numbers and significantly increase costs.

2. Host at home or a free location

Venue hire is often the single biggest expense of a kids’ birthday party. While paid venues can be convenient, hosting at home or at a free public space can save hundreds of dollars.

Backyards, local parks, playgrounds, beaches and community ovals can all work well, particularly for younger children. These settings give kids space to run around and play, without the pressure of a tight schedule or time limits.

Another option is to save venue parties for milestone birthdays or space them out every few years. For example, you might choose a larger, paid party for a 5th, 10th or 13th birthday, and keep other years simpler. This approach helps spread costs over time while still giving your child something special to look forward to.

When planning an outdoor party, it’s worth having a simple weather back-up plan. This could be as straightforward as shifting to your home, choosing a park with shelter, or having a rain date listed on the invitation. Being flexible helps reduce stress if the weather doesn’t cooperate.

3. Keep the party short and sweet

Longer parties don’t always mean more fun, particularly for younger children. In many cases, a shorter party is more enjoyable and much easier on the budget.

A 1.5 to 2 hour party is usually plenty of time for games, food and cake. Shorter parties reduce food costs, limit the need for structured entertainment and help avoid overtired or overstimulated kids. Parents also tend to appreciate a clear start and finish time.

4. Skip expensive entertainment

Professional entertainers, jumping castles and animal experiences can add up quickly. While they can be fun, they’re rarely essential for a successful party.

Simple games and activities often keep kids just as engaged, and classic party games, a treasure hunt, craft activities or free play can fill the time easily. In warmer weather, water games or backyard play can be a highlight without costing much at all.

Often, the key isn’t spending more, it’s having a loose plan so kids stay occupied and the party flows well.

5. DIY decorations

It’s easy to overspend on decorations, especially when themed backdrops and balloon displays dominate social media. While they look great in photos, they rarely add much to the kids’ experience.

Keeping decorations simple can save money and reduce stress and a few balloons, a birthday banner and some colour on the table are usually more than enough to set the mood.

If you’re open to second-hand options, it’s worth checking Facebook Marketplace, local buy-swap-sell pages and community groups. There is often free or very low-cost party décor being passed on by families who no longer need it.

Choosing general colours rather than licensed characters also makes decorations easier to reuse year after year.

6. Keep food simple and familiar

Party food doesn’t need to be elaborate and most kids usually prefer simple, familiar options over anything too fancy.

Choosing easy, budget-friendly foods such as sandwiches, fairy bread, fruit platters, sausage rolls or homemade snacks can keep costs down and reduce waste.

7. Consider a homemade cake

Custom cakes can be impressive, but they often come with a high price tag. Baking a cake at home can significantly reduce costs and you don’t need advanced baking skills to do so.

Packet mixes, simple decorations and a few candles are more than enough for most kids. Cupcakes are another popular option that can be easily taken home as part of the party favour. Remember, kids care far more about blowing out the candles and the idea of cake, more than perfectly piped icing.

8. Rethink party bags

Party bags are one of the most common and costly traditions of a birthday party, yet they’re often forgotten or discarded within days.

These days you might choose to skip party bags altogether, or opt for a single, meaningful item rather than several small ones. A small book, a simple toy or something the children have made during the party can feel more thoughtful and reduce unnecessary spending.

If you do include party bags, setting a clear budget can help keep costs under control.

9. Set a budget and stick to it

Before you start planning, decide how much you’re comfortable spending overall. Having a clear budget makes it easier to prioritise what matters and avoid impulse purchases.

Breaking your budget into categories, such as food, activities and decorations, can help you see where your money is going and where you can cut back if needed. Once you’ve reached your limit in a category, it’s okay to stop.

10. Focus on what kids really remember

At its heart, a birthday party is about celebrating your child and making them feel special. While it can be tempting to keep up with other parties your child has attended, it’s okay to do things differently. Kids won’t remember the elaborate decorations or the expensive catering, they will remember playing with friends and having fun.

Many parents quietly welcome lower-pressure, more relaxed parties, even if no one says it out loud. Simple can be joyful, memorable and far less stressful for everyone involved.

Remember, big smiles don’t require big budgets and chances are, other parents will thank you for it too.

This information provides general advice only. We do not provide advice based on any consideration of your personal objectives, needs or circumstances.

Is it love or a scam?

Sun, 22 Feb 2026 22:32:46 Z

Online dating has become a normal way to meet people, especially for those who may be looking for companionship later in life. While many genuine relationships start online, romance scams remain one of the most damaging scams in Australia, both financially and emotionally.

According to Scamwatch, romance scams consistently cost Australians millions of dollars each year, and people aged 65 and over are among the most targeted.

Romance scammers are professional manipulators. They know exactly what to say, how to build trust, and how to slowly push boundaries without raising alarm bells. Understanding the common warning signs can help you spot a scam earlier and protect yourself or someone you care about.

Below are some of the biggest red flags to watch out for.

They always have an excuse not to meet or video chat

One of the clearest warning signs is when someone avoids seeing you face-to-face. They may claim they work overseas, are on an oil rig, in the military, caring for a sick relative, or dealing with ongoing travel issues. Video calls are often promised “soon”, but never actually happen.

Scammers rely on distance to hide who they really are. Even when video calling technology is easy and free, they’ll find reasons to avoid it such as poor internet, broken cameras, different time zones, or emergencies that always seem to pop up at the last minute.

Tip: If someone refuses to video chat after weeks or months of chatting, take a step back. Genuine people understand the need to confirm who you’re talking to.

They talk about future plans before you’ve even met

Romance scammers often rush emotional intimacy. They may talk about marriage, moving in together, travelling the world, or growing old together very early in the relationship, sometimes within days or weeks.

These future promises are designed to create a strong emotional bond quickly. Once you’re emotionally invested, it becomes harder to question their behaviour or walk away, even when things don’t feel right.

Example: You’ve never met in person, but they’re already calling you their “soulmate” and talking about how they’ll move to be with you. While it can feel flattering, it’s important to slow things down.

Tip: Healthy relationships take time. Be cautious of anyone pushing big commitments too fast.

They ask for money, gift cards or help “just this once”

This is the biggest red flag of all. Sooner or later, most romance scams lead to money.

The request might start small such as help paying for a flight, medical bills, business problems, or unexpected fees. They often promise to pay you back and may say you’re the only one they trust.

Requests could involve:

Bank transfers
Gift cards
Cryptocurrency
Sending money to a third party (such as a ‘friend’, ‘business contact’ or ‘agent’)
Accepting or moving money on their behalf

No matter how convincing the story sounds, any request for money is a major warning sign.

Tip: Never send money, gift cards or cryptocurrency to someone you haven’t met in person.

They discourage you from talking to friends or family

Scammers often try to isolate you. They may say others “wouldn’t understand”, are jealous, or are trying to sabotage your happiness. In some cases, they encourage secrecy, especially around money.

Isolation makes it easier for a scammer to control the narrative and harder for loved ones to spot the warning signs.

Example: They suggest keeping the relationship private “for now” or get upset when you mention discussing things with family or friends.

Tip: If someone discourages outside opinions, that’s a strong sign something isn’t right. Trusted friends and family can offer valuable perspective.

They turn emotional when you question them

When you ask reasonable questions, a scammer may react with guilt, anger or defensiveness. They might accuse you of not trusting them, threaten to end the relationship, or say you’ve hurt them deeply.

This emotional reaction is deliberate. It’s meant to stop you from asking more questions and make you feel responsible for their feelings.

Tip: You’re allowed to ask questions in any relationship. If someone reacts aggressively or emotionally to simple clarification, pause and reassess what they might not be telling you.

They send you money first or offer to “invest together”

Some scams are more complex. A scammer may send you money initially to build trust or ask you to help move funds through your account. Others encourage you to “invest together”, often through fake investment platforms.

This can make the situation feel legitimate, but it’s still part of the scam. Once trust is built, larger amounts are usually requested.

Tip: Never accept money or investment advice from someone you’ve only met online. Being involved can put you at legal and financial risk.

What to do if something doesn’t feel right

If you suspect you’re in the midst of a romance scam:

Stop sending money or personal information immediately
Cut off contact with the person
Alert your financial institution that your details could be compromised
Report the scam to Scamwatch

Romance scams aren’t about being naïve or careless. They work because scammers are skilled, patient and emotionally manipulative. Anyone - regardless of age, intelligence or experience - can be affected.

If someone you care about is forming a relationship online, stay informed and having an open conversation with them, it can make all the difference. Real love doesn’t ask for secrecy, money or silence. If something feels off, trust that feeling.

This information provides general advice only. We do not provide advice based on any consideration of your personal objectives, needs or circumstances.

Notice to customers - Interest Rate Changes for Savings Accounts

Wed, 11 Feb 2026 05:32:52 Z

Our interest rates for some of our savings account are changing from February 12, 2026.

View the latest on-call deposit account interest rates.

Home Loan interest rate update

Wed, 04 Feb 2026 05:18:12 Z

Rate increase information for at call deposit products will be shared shortly.

Update for customers:
Auswide Bank will notify existing lending customers in writing to inform them of any changes to their repayment details.

Notice to credit card customers

Mon, 02 Feb 2026 01:29:42 Z

Updates have been made to the Visa Credit Card Terms and Conditions (effective 1 January 2026).

The changes apply to the following sections:

1.16 – Clarification of rights and responsibilities relating to unauthorised transactions and statements
1.21 – Clarification of code rules relating to chargeback rights
1.23 – Simplified language regarding enforcement expenses
1.24 – Simplified language regarding cancellation or suspension of your card by Auswide Bank
1.28 – Clarification of code rules relating to general matters

We encourage customers to review the updated Terms and Conditions.

Please note: The Visa Credit Card is no longer available to new applicants.

Australians lost over $334m to scams in 2025. Here's how you can protect yourself

Tue, 27 Jan 2026 05:15:20 Z

Scams aren’t new, but the way they show up in our lives keeps evolving. According to Scamwatch, Australians reported 200,675 scams in 2025, with losses totalling around $334 million*. The most financially damaging scams were investment scams, phishing scams and romance scams, with scammers most commonly reaching people via email, online platforms and phone calls.

Perhaps most concerning is who’s being impacted. While anyone can be targeted, Australians aged 65 and over were the hardest hit, followed closely by people aged 45 to 64, groups who often have more savings, super, or assets at stake.

So, if more people are aware of scams, how are they still working?

Most modern scams don’t rely on bad spelling or dodgy-looking emails anymore. They rely on pressure, familiarity and emotional triggers.

Scammers are getting better at:

Mimicking real organisations and people
Timing contact when you’re busy, stressed or distracted
Creating scenarios that feel urgent but believable
Exploiting politeness, fear of embarrassment or desire to help

In other words, scams succeed not always because people are careless, but because scammers are excellent manipulators of human behaviour. Understanding that is the first step to protecting yourself.

The most common scams Australians lost money to in 2025

Investment scams

These continue to be the largest cause of financial loss. They often:

Promise unusually consistent or “low-risk” returns
Use fake celebrity endorsements, including AI generated images, videos or voice clips, alongside professional-looking websites to appear legitimate
Start through social media, search ads or investment groups
Gradually build trust before asking for larger amounts

Many victims don’t realise they’ve been scammed until months later, often after trying to withdraw funds.

Phishing scams

Phishing has moved beyond poorly written emails with pixelated logos and now commonly appeared as:

Emails or texts that perfectly mirror banks, delivery companies or government organisations
Messages referencing real purchases, subscriptions or personal details
“Account security” alerts designed to cause panic

These scams work because they blend seamlessly into everyday digital noise and can even appear within legitimate message threads from your bank, Australia post or another service provider.

Romance scams

Romance scams remain deeply damaging both financially and emotionally. They often:

Begin on dating apps or social media
Progress slowly, building emotional dependence
Involve stories about emergencies, investments or being unable to meet in person
Escalate requests for money over time

These scams don’t feel like scams, they feel like a real person and a real relationship.

How to protect yourself from scams

You’ve probably heard the same scam advice countless times – create a unique login for each account, use longer and more complex passwords, enable 2-factor authentication, never share your personal information or login details, avoid clicking on suspicious links and be cautious of unsolicited calls, emails and texts.

While this advice can seem obvious and feel repetitive, these tips are repeated for a reason. A significant number of successful scams still happen because one of these crucial things wasn’t in place. If you’re not doing all the above consistently, start there as they remain your first line of defence.

However, even with strong habits and good awareness, no one is completely immune to scams. That’s because modern scams don’t just rely on weak security, they rely on human behaviour. Once the fundamentals are covered, protecting yourself becomes less about spotting fake messages and more about changing how you respond when contacted.

Shift from “Is this real?” to “Why now?”

Instead of immediately trying to confirm whether a message or phone call is legitimate, instead ask yourself - why am I being contacted right now? Why the urgency? Why am I being pushed to act before I’ve had time to think?

Urgency is one of the strongest predictors of a scam. Whether it’s a frozen account, unusual activity that needs to be actioned right away, a limited-time investment, or an emotional plea, immediate pressure is rarely something that will occur with legitimate organisations.

Separate emotion from action

Scammers are experts at triggering emotion, and fear, excitement, guilt, embarrassment and even affection are all powerful tools they will use against you.

A simple rule that can help to protect against many scams is to never make a financial decision while emotionally charged. If a message or a phone call has made you feel panicked or rushed, step away.

Use a “second channel” to verify

Rather than clicking links, replying to messages or calling a phone number provided in the email, message or phone call you received and are unsure about, contact the organisation directly. Use a trusted method you already know such as the phone number on your bank card, a previous bill or an official website. Never rely on contact details included in the message itself.

Treat unexpected good news with caution

We’re conditioned to be suspicious of bad news, but scammers increasingly rely on positive surprises such as unexpected refunds, prizes and investment opportunities to play on your excitement and rush you into providing personal details. If you weren’t expecting the news, slow down and double-check whether it could be real before reacting.

Make “checking with someone” normal

Scams often succeed because people feel embarrassed or don’t want to bother others.

Whether it’s a partner, a family member or a trusted friend, getting a second opinion can break the momentum scammers rely on. There’s no shame in getting a second opinion and it’s far easier than fixing the damage later on that a scammer can cause.

Put safety measures around big decisions

Rather than relying solely on scam detection, limit the potential impact of a scam with a few safeguards such as:

Setting daily transfer limits
Adding extra verification for large transactions
Delaying big financial decisions by 24 hours
Keeping long-term savings in accounts that aren’t instantly accessible

Protecting yourself against scams isn’t about memorising more rules or living in fear. It’s about slowing down, questioning the urgency, separating emotion from actions and giving yourself the space to assess before making a decision.

This information provides general advice only. We do not provide advice based on any consideration of your personal objectives, needs or circumstances. *Statistics correct at time of publication.

The conversations you should have early in the year

Tue, 27 Jan 2026 05:06:00 Z

Money isn’t always easy to talk about and can often feel awkward, emotional or even confrontational, especially when it involves the people closest to us. But the start of the year can be a good time to open those discussions. Not to set strict rules or place pressure, but to gain a mutual understanding and avoid stress later on.

These conversations don’t need to be formal or uncomfortable and in fact, the most helpful ones are often simple, honest and ongoing.

Talking about money with your partner

If you share finances with a partner, money conversations are unavoidable, but that doesn’t mean they’re always easy. Different upbringings, habits and priorities can all shape how we think about money.

Early in the year is a good time to check in and talk about what’s coming up, before things become urgent or stressful. Some helpful topics to discuss could include:

Any big expenses on the horizon (holidays, renovations, school costs)
What feels financially stressful right now
What you’d each like to prioritise this year

Rather than focusing on what should happen, it can help to start with how things feel. For example:

“What’s been worrying you most about money lately?”
“Is there anything you’d like us to do differently this year?”

If one person prefers saving and the other prefers spending, that doesn’t mean one is right and the other is wrong, talking openly helps you find a middle ground that works for both of you and decisions can be made together.

Talking to kids about money

Money conversations with kids don’t have to be formal lessons and usually everyday moments are the best opportunities to teach.

For younger children conversations may tend be around helping them understand that money is limited and that choices matter. This might involve:

Explaining why they can’t have something rather than saying ‘no’. This can help them understand that having everything isn’t always an option and spending on one thing, means giving up another thing.

Other simple ways to introduce money concepts could include:

Having them save towards a small goal, like a toy or game
Using clear jars for spending or saving so they can see the money coming in and going out
Letting them help with simple choices, like comparing prices at the supermarket

Teenagers on the other hand are often more aware of money pressures so real-world conversations could go a step further, such as:

How long it will take to save for something while working a casual job
Staying consistent with a big savings goal
Managing a small budget to pay for some of their ‘wants’ such as a video game or clothing items
Talking openly about how credit cards, loans and debt work

These conversations can help build confidence and awareness as they get older and move out of home.

Talking about money with adult children or parents

As families grow and change, money conversations often extend beyond the household. Adult children may need help while renting or saving, and parents may be navigating retirement, fixed incomes or changing circumstances.

These conversations can feel uncomfortable but avoiding them can create bigger issues down the track.

When talking with adult children, it can help to be clear about:

What support you can realistically offer
How long that support might last
Any boundaries that need to be in place

For parents, conversations might include:

How they’re managing financially, especially if they’ve retired or living alone
Whether they need help understanding online or mobile banking and how to manage their bills and accounts
What plans are in place if their circumstances change and a medical need arises

Approaching these discussions with care and respect is important. The aim is support and understanding, not control.

Talking about money with older parents or grandparents

As parents and older relatives age, money matters can sometimes become more complicated. Changes in health, confidence or access to technology can make some people more vulnerable, often without realising it.

This can lead to what is known as elder financial abuse, when an older person’s money or assets are misused, taken or controlled without their full understanding or consent. This can involve pressure to hand over money, misuse of bank accounts, or being talked into financial decisions that don’t benefit them. Importantly, elder financial abuse doesn’t always come from strangers. It can sometimes involve people they know and trust, which is why it can be difficult to recognise or talk about.

Early conversations can help protect everyone involved, such as:

Checking who has access to accounts and important documents
Making sure bills and finances are being managed the way they expect
Encouraging questions about unfamiliar transactions or requests for money

Keeping communication open helps create a safe space to raise concerns, ask for help and address any concerns early, before they become serious issues.

Talking about scams and protecting your money

Scams are becoming more common and more convincing and having an understanding around common scam tactics is important, along with knowing how you can help protect your personal information and finances, no matter your age.

Talk to your family and take the time to understand:

Common scam types such as bank impersonation scams, investment scams and phishing scams
How you can protect your details by updating passwords, storing them securely and never clicking on a suspicious link
What to do if something doesn’t feel right or if you think you’ve fallen victim to a scam

Learn more about scams, tips for protecting yourself and how we’re protecting our customers by visiting the Scam Awareness page on our website.

This information provides general advice only. We do not provide advice based on any consideration of your personal objectives, needs or circumstances.

If you only focus on 3 money things this year, make it these

Tue, 27 Jan 2026 03:13:56 Z

The information in this article is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for your circumstances before acting, and you may wish to seek professional advice

Life gets busy, and when money feels tight, it’s easy to feel overwhelmed by everything you’re “supposed” to be doing such as budgeting, saving and planning for the future, but instead, it can often feel impossible to get ahead.

The reality is you don’t need to do everything to improve your financial situation, and a few simple, well-chosen actions can make a meaningful difference over the next year.

1. Check in on your spending

You don’t need a complicated budget or fancy spreadsheet to understand your money. Simply knowing where it’s going can help you feel more in control.

A quick monthly check-in can make a big difference:

Look at your bank statements (or use your banking app) to see where your money went.
Look for any surprises such as subscriptions you forgot about, fees you didn’t expect, or spending that crept up.
Pick one area to adjust whether it’s takeaway meals, streaming services, or impulse buys.

Awareness of where your money is going is the first step. It takes 10 minutes to check each month and will help you to spot any spending patterns or unexpected fees and charges.

2. Build a small buffer

Life has a habit of surprising us with unexpected expenses. Car and home repairs, medical bills or school costs always seem to happen at the worst possible time and can add up quickly, especially when other bills are already being juggled.

Having just a small emergency fund can reduce both the financial and mental stress and can help you avoid having to dip into savings or reply on credit.

Here are some easy ways to consider building out your buffer:

Set aside a small amount each week that can quickly add up over time.
Automate the transfer into a separate savings account each payday.
Boost your fund with things like tax refunds, bonuses, or even spare change.

Giving your savings a name such as ‘Emergencies only’ or ‘Peace of mind’ can be a good reminder to contribute to it regularly and avoid the temptation to dip into it.

3. Thinking ahead

It’s easy to focus on what’s right in front of you and put off those tedious tasks for another day, but a bit of forward planning can help protect you and the people you care about down the track.

Update or create your will
A will ensures your wishes are clear and your loved ones are looked after. If you have one, check it’s up to date especially after major life changes like getting married, buying a home or having kids. If you don’t, start basic to make sure you at least have something in place.

Read our article ‘Do I really need a will?’ to learn more.
Protect yourself from scams
Scammers are getting smarter, so protecting your personal information is more important than ever!
Spend some time updating your passwords to something stronger and more complex, ensuring you have a unique password for each of your accounts. Where possible, turn on two-factor authentication to give your accounts another added layer of protection.

Read our article ‘What you need to know about updating your passwords’ for more helpful tips.
Think about super
Your superannuation is your future income, so a quick check now can make a big difference later. Many people don’t look at their super for years, but small issues like high fees or multiple accounts can quietly eat away at your balance.

Be sure to check that your employer contributions are going through, and if you have multiple accounts, you may want to review whether consolidating them is appropriate for you. Consolidation can reduce some fees, but may also affect things like insurance arrangements, so it’s important to consider your own circumstances or seek advice.

Starting the year by focusing on just a few important things can make a real difference down the track. Whether you tackle all three or simply tick off one or two, being aware and taking small steps can help you feel more prepared and more confident about your money.

Notice to Customers: Foreign Currency Cheques

Mon, 19 Jan 2026 22:15:34 Z

Foreign Currency Cheques

Effective 19 January 2026, Foreign Currency cheques will only be accepted for customers who joined Auswide Bank prior to 1 February 2026.
We are also making a change to clarify that the foreign currency cheque conversion exchange rate also includes a margin.

Section 2.23 ‘Overseas Transactions’ will be updated to reflect these changes.
The current Guide to Banking Services can be accessed HERE, or found on the Terms and Conditions page of our website.

How to spot and stop phone call scammers

Wed, 12 Nov 2025 05:46:03 Z

These days, scammers are getting smarter and bolder, and one of the most common ways they try to trick people is through phone calls. Whether it’s someone pretending to be from your bank, a telecommunications company or a tech organisation, phone scams can be convincing and it can be hard to tell the difference between a genuine call and a fake one.

By knowing the warning signs and how to respond, you can protect yourself and your money.

What are phone call scams?

Phone call scams are when someone calls you pretending to be from a trusted organisation or they pretend to be someone you know. They may claim there’s a problem with your account, a bill you haven’t paid, or even a suspicious transaction that needs your urgent attention. Some may even threaten you with fines, arrest, or loss of access to your account if you don’t cooperate right away.

Their goal? To get information such as your bank details, passwords, or codes sent to your phone, or to convince you to transfer money directly into their account.

Common phone scam tactics

Scammers are experts at sounding legitimate. Here are some of the most common tricks they use:

1. Pretending to be from your bank or another trusted company
Scammers often claim to be from well-known organisations such as your bank, Australia Post, Telstra, or the Australian Tax Office (ATO). They might say there’s been unusual activity on your account or that they need to “verify your identity”.

2. Creating a sense of urgency or fear
They may tell you that your account will be frozen, you’ll be fined, or you could even be arrested if you don’t act immediately. This pressure is designed to make you panic and hand over information without thinking.

3. Asking for one-time codes or remote access
You might be told to read out a one-time code sent to your phone or to download software so they can “help fix the problem”. In reality, these steps give scammers access to your account or computer.

4. Spoofing legitimate numbers
Some scammers use technology to make it look like they’re calling from a genuine number such as your bank’s phone number or a government department. This is called “spoofing”, and it makes their calls seem more convincing.

5. Pretending to be a family member or friend
You might get a call (or even a text) saying something like, “Hi Mum, it’s me, I’ve lost my phone. Can you send me money?” These often use information found on social media, like names, family details or photos to make them sound real. In some cases they may even use deepfake technology to mimic the sound of your loved ones voice.

Read our article ‘What is a deepfake and how to spot one’ to learn more.

Signs the call might be a scam

If you get a call out of the blue, especially about money or personal information, stop and think before responding. Here are some red flags:

The caller asks for your bank details, passwords, or SMS verification codes.
They pressure you to act immediately or threaten you with consequences.
You’re asked to transfer money or make a payment on the spot.
You’re told to download software or click a link.
The call doesn’t sound quite right, maybe the person is overly insistent, robotic, or uses odd phrases.
The number looks legitimate, but the request seems suspicious.

If something feels off, trust your instincts. Hang up and contact the organisation directly using their official phone number found on their website or on your account statement. Do not use a phone number the person on the phone has provided to you.

What to do if you get a suspicious call

1. Don’t share personal information
Never give out your bank account details, passwords, PINs, or one-time codes over the phone, even if the caller claims to be from your bank or another trusted source.

2. Hang up immediately
If you feel uncomfortable or pressured, simply hang up. You haven’t done anything wrong and it’s better to be safe than sorry.

3. Call the organisation directly
Use a trusted phone number from their website or your account documents. Tell them about the call so they can confirm if it was legitimate.

4. Block the number
After hanging up, you can block the number on your mobile phone. While scammers often use different numbers, this can still reduce nuisance calls.

5. Report the scam
You can report scams to Scamwatch (run by the Australian Competition and Consumer Commission) at www.scamwatch.gov.au. If you’ve shared financial details, contact your bank immediately.

6. Warn others
Let friends and family know if you’ve received a scam call, especially older friends or relatives who might be more susceptible. Sharing your experience can help protect others.

How to stay scam aware

Being scam aware doesn’t mean being suspicious of everyone, it just means knowing how to protect yourself. Here are some simple ways to stay safe:

Keep calm and think. Scammers want you to act fast, so take a moment before doing anything.
Know that legitimate organisations won’t ask for passwords or codes over the phone.
Be wary of unsolicited calls. If you didn’t expect the call, be extra cautious.
Don’t trust caller ID alone. Numbers can be faked.
Stay informed. Check websites like Scamwatch for the latest scam alerts.

What to do if you’ve been scammed

If you think you’ve accidentally given information or money to a scammer:

Contact your bank or financial institution immediately to freeze your accounts or reverse any transactions if possible.
Change your passwords for your online banking and any other accounts that might be affected.
Report the scam to Scamwatch and, if necessary, the police.
Monitor your accounts for any unusual activity over the coming weeks.

Remember, anyone can be caught out. Scammers are experts at what they do, and even tech-savvy people can fall for convincing calls, the important thing is to act quickly and report it. Scammers rely on confusion, fear, and quick reactions to succeed, but by slowing down, asking questions, and double-checking, you can stop them in their tracks.

This information provides general advice only. We do not provide advice based on any consideration of your personal objectives, needs or circumstances.

Money rules that still make sense in 2025

Wed, 12 Nov 2025 05:27:50 Z

Managing money has never been harder. Between rising rent, higher grocery prices, and bills that keep climbing, it can feel like your pay just doesn’t stretch as far as it used to.

Having a few simple ‘money rules’ up your sleeve can really help. Here’s a look at some classic money rules and how they stack up in 2025.

The 50-30-20 rule:

The 50-30-20 rule is one of the easiest budgeting tools around and divides your income as follows:

50% for needs: essentials like housing, bills, transport, and groceries
30% for wants: things you enjoy but could cut back on if needed
20% for savings and debt: including emergency savings, super, or extra repayments

While this rule still works in theory, the truth is that many people are now spending more money on essentials with less going towards their wants and savings. If you find the original rule to be a little out of touch, adjust the ratio to something more realistic such as 60-25-15 or 70-20-10.

The 3–6 month emergency fund rule:

Having money set aside for the unexpected is one rule that never goes out of date.The goal is to save three to six months’ worth of essential expenses (things like rent or mortgage, groceries, transport, and bills) in an emergency fund.

If your monthly expenses are $3,500, that means aiming for between $10,500 and $21,000 saved. That might sound like a lot, but you don’t have to get there overnight, start small and build it gradually. With rising costs and job uncertainty, it’s peace of mind knowing you could cover life’s curveballs without having to take on additional debt.

The 3× rent rule:

The old ‘3× rent rule’ says your monthly income should be around three times your rent, meaning rent should take up roughly 30% of your income.

In today’s rental market, that’s not always realistic and the rules should be used more as a warning sign. If rent is taking up more than half your income, it might be time to explore options like moving in with a flatmate, looking at suburbs further out of town, or negotiating a better deal with your landlord as your lease comes to an end.

The 24-hour (or 24-10) rule:

With online shopping and “buy now, pay later” everywhere, impulse spending is easier than ever. That’s why the 24-hour rule is still one of the smartest habits to have. Before buying something you don’t really need, wait 24 hours. If you still want it after that time, and it fits your budget, then go ahead, but often you’ll find the urge passes.

For more expensive items like a car, furniture, or new tech, follow the 24-10 rule - wait 24 hours and only buy if you can afford at least a 10% deposit (or full payment upfront). It’s a simple way to avoid regret and unnecessary debt.

The 4% rule for retirement:

The 4% rule is a guide for how much you can safely withdraw each year from your retirement savings. It suggests that if you only take out 4% annually, your money should last around 30 years. For example, if you want $50,000 a year in retirement income, you’d need around $1.25 million saved.

This rule is based on historical averages and steady market growth, something that is now a little less predictable. While the percentage may no longer be quite the same due to inflation and people living longer, the principle remains the same in that it’s better to give yourself a comfortable but sustainable drawdown over time.

The 2× investing rule:

The ‘2× investing rule’ is more of a mindset than a formula. It’s the idea that with time and compounding, the money you invest should eventually double in value. How long it takes depends on your returns, and that’s where the Rule of 72 comes in handy.

The Rule of 72:

This is a quick way to estimate how long it will take for your money to double. Simply divide 72 by your annual rate of return. If your investments earn 6% a year, your money would double in about 12 years (72 ÷ 6). If you earn 8%, it would double in around 9 years.

While returns can vary, the rule is a simple reminder of why investing early and consistently can make a big difference over time.

The 20/4/10 rule for buying a car:

Cars are expensive, and with prices higher than ever, it’s easy to overspend. The 20/4/10 rule can help you stay within your means:

20% deposit: pay this upfront
4 years: keep the loan term under 4 years
10% of income: aim to spend no more than 10% of your gross monthly income on total car costs (including loan, fuel, insurance, and rego)

If 10% feels impossible with current costs, try not to go beyond 15%. The less your car costs to run, the more freedom you’ll have elsewhere in your budget.

The 1% home maintenance rule:

If you own a home, this rule helps you plan ahead for repairs and upkeep. The idea is to save around 1% of your home’s value each year for maintenance.

For a $700,000 property, that’s $7,000 annually. Some years you’ll use more, some less, but setting money aside regularly helps you avoid financial surprises when the roof leaks, you find termites, or the hot water system dies.

The pay-yourself-first rule:

This one is easy and still rings true - as soon as your pay hits your account, transfer money straight into savings or investments before spending anything else. Even $20 or $50 a week adds up over time. Treat it like any other bill, one that pays your future self. If you wait until the end of the month to save “what’s left,” you’ll usually find there’s nothing left.

While money rules may shift with the times, one thing never changes, the more you understand and plan for your finances, the more control and peace of mind you’ll have.

This information provides general advice only. We do not provide advice based on any consideration of your personal objectives, needs or circumstances.

What is refinancing

Wed, 12 Nov 2025 05:14:30 Z

Refinancing is something many homeowners hear about but don’t always fully understand. You might have friends or family who’ve refinanced to get a better deal, pay off their loan faster, or free up cash, but how do you know if it’s right for you?

What is refinancing?

Refinancing simply means replacing your current home loan with a new one, either with the same lender or a different one.

Think of it like trading in your old car for a newer model. The new car might have better fuel efficiency, smoother handling, and more features. Similarly, a new loan might offer a lower interest rate, better features, or terms that better fit your current needs.

There are a few reasons why someone might choose to refinance:

To get a lower interest rate: This can help you save on repayments and potentially pay off your loan sooner.
To access equity: If your home’s value has gone up, you might be able to tap into the equity which is the portion of your home you own outright, calculated as the difference between your home’s current value and what you still owe on your loan. You can use this equity to fund renovations, consolidate debt, or cover other big expenses.
To change your loan type or features: Maybe you want to switch from a variable to a fixed rate, or get new loan features such as an offset account or redraw facility.
To consolidate debts: You can roll high-interest debts like credit cards or personal loans into your home loan, simplifying your finances and potentially saving on interest.

Read our article ‘What is debt consolidation’ to learn more.

When refinancing makes sense

Refinancing can suit a wide range of homeowners and is often a smart move for anyone who wants to make their money work harder. While there’s no one perfect time to refinance, there are a few signs it could be worth a closer look.

You haven’t reviewed your loan in a while.
Home loan rates and products change all the time so if it’s been a few years since you last checked your loan, it could be worth seeing whether your rate is still competitive or if a different loan could suit you better.
Interest rates have moved.
If rates have risen or fallen significantly, it can be a good time to review your loan. Even a small change in your interest rate could make a noticeable difference to your repayments over time.
Your financial situation has changed.
Maybe you’ve received a pay rise, started a family, or moved to a single income. Refinancing can help you adjust your loan so it fits better with your current circumstances.
Your home’s value has gone up.
If your property has increased in value, you may have built up equity you can use for renovations, investments, or other major expenses such as a holiday or even school fees.
You’d like more flexibility or features.

Some loans may not include features like an offset account, redraw facility, or flexible repayment options. Refinancing could help you change your loan type to access these and help you manage your money more effectively.

What to consider before refinancing

While refinancing can provide a number of benefits, understanding when it might not be suitable is just as important. A few things to consider are:

Fees and costs
Refinancing can come with costs such as discharge fees from your current lender, application fees for the new loan, and, if you’re on a fixed rate, potential break costs. It’s important to do the maths. Sometimes the long-term savings outweigh the upfront costs, but not always. A good rule of thumb is that refinancing makes sense if you’ll recover those costs within the first year or two of the new loan.
Loan term reset
When you refinance, your new loan usually starts fresh, often with another 25 or 30 year term. That can lower your repayments, but it might also mean paying more interest over time.
If your goal is to save money long-term, you could ask for a shorter loan term or continue paying your old repayment amount to stay ahead.
Your credit history
Applying for a refinance can temporarily impact your credit score. If your credit score has recently dropped or if you anticipate needing credit for other purposes soon, reconsider the timing of a refinance. If you’re shopping around for a new home loan, it’s best to compare loans carefully before submitting applications, and only apply once you’re confident you’ve found the right one.
Equity and property value
Your home’s value affects how much you can borrow. If property prices have fallen or you have less than 20% equity, you might have to pay Lenders Mortgage Insurance (LMI) again which can add thousands to your costs.
Future plans
If you plan to sell your home soon or are unsure about your future plans, it might not make sense to refinance. The benefits of refinancing usually come from staying in the new loan for a few years.

If you’re thinking about refinancing, here are a few steps to get you started:

Check your current loan details by looking at your interest rate, loan balance, repayment amount, and remaining term.
Compare home loans options, but don’t just focus on the rate. Consider features, flexibility, and fees.
Learn more about our range of award-winning home loans.
Talk to a home lending consultant who can help you compare your options, crunch the numbers, and handle the paperwork.
Find your local Auswide Bank lending consultant.

Refinancing can be a great way to save money, access funds, or make your loan work better for your lifestyle. But like any big financial decision, it’s worth taking the time to understand your options and get advice if you need it.

A quick review of your home loan every year or two could help you stay on track and make sure you’re not paying more than you need to.

Talk to an Auswide Bank lending consultant

If you’re thinking about refinancing, our home lending consultants can help you find the right fit for your goals. They’ll take the time to understand your situation, explain your options and guide you through the process from start to finish.

Contact your local branch or find your local lending consultant to see if refinancing could work for you.

This is not an offer to lend - approval is subject to credit assessment criteria. Terms, conditions, fees & charges apply - full details on application. Prior to entering into a credit contract with us you should read our Credit Guide. This information provides general advice only. We do not provide advice about this product based on any consideration of your personal objectives, needs or circumstances.

Notice to customers

Thu, 06 Nov 2025 06:47:48 Z

Changes to Terms and Conditions for Deposit Accounts and Guide to Banking Services

The following documents have been updated - effective 1 December 2025:

Auswide Bank

Elders Finance

National Seniors Australia

Help us give back: Ronald McDonald House Toy Drive

Tue, 07 Oct 2025 03:18:07 Z

Help us bring joy to the children and families staying at the Ronald McDonald House Charities this Christmas.

Families staying at the Ronald McDonalds Houses often travel from all over Queensland to receive the treatment and care they need for their sick children. This can often mean spending weeks away from the comfort of their home and families, including over Christmas.

We’d like to bring them a little extra cheer and help make their season bright with our second annual toy drive!

How You Can Help:

Donate a gift, or make a cash donation before Friday November 21st.

Gifts and cash donations can be dropped off at any Auswide Bank branch. Please ensure gifts are unwrapped or in a gift bag.
You can find your nearest branch by heading to our website: auswidebank.com.au/findus
If you would prefer to make a donation via electronic transfer, you can donate via our community account which will then be presented to the Ronald McDonald House Charities at the end of the drive:
Auswide Bank Community
Acc: 107 843 250
BSB: 645 646

Gifts for all ages are needed including babies, children, teens, Mums and Dads. If you’d like to provide a gift, but you’re not sure what to get we’ve compiled a brief wish list below:

Gifts for all:

Gift Cards - New premmie onesies
Food hampers - Dummies, rattles, bottles
Christmas cake/ pudding - Infant toys/ toddler toys
Gingerbread / shortbread - Baby’s 1^st Christmas gifts

Gifts for Babies:

New premmie onesies
Dummies, rattles, bottles
Infant toys/ toddler toys
Baby’s 1^st Christmas gifts

Gifts for kids:

Baby dolls - Make-up and hair items
Disney princess dolls - Bath and body wash kits
Barbies - Portable speakers
Superhero toys and games - Google Play/ Apple vouchers
Lego kits - Movie vouchers
Playdough and craft kits - Craft supplies
Cars, trucks & trains - Headphones
Action figures - Coles/ Myer/ Wish vouchers

Gifts for teens:

Make-up and hair items
Bath and body wash kits
Portable speakers
Google Play/ Apple vouchers
Movie vouchers
Craft supplies
Headphones
Coles/ Myer/ Wish vouchers

Gifts for Mums:

Make-up - Mugs
Purses and tote bags - Wallets
Craft supplies - Bath and body items
Bath & body items - Hats
Home décor - Puzzles/ games
Clothing - Clothing

Gifts for Dads:

Mugs
Wallets
Bath and body items
Hats
Puzzles/ games
Clothing

Thank you for your generous support. Your kindness will help bring the magic of Christmas to those who need it most. Together, we can make a difference this holiday season.

A new era of payment protection

Mon, 29 Sep 2025 05:52:33 Z

Auswide Bank has introduced Confirmation of Payee (CoP), a new way to help keep your payments safe.

CoP adds a layer of protection for payments to a BSB and account number. It checks the account name, BSB and account number you’ve entered against the details held by the recipient’s bank and lets you know whether it’s a match, helping to reduce your risk of being scammed or sending money to the wrong account.

The service is part of an Australia-wide initiative led by Australian Payments Plus - the team behind BPAY^®, Osko^®, eftpos^®, PayID^®, and PayTo^® - to make banking safer. You’ll be able to use it automatically through internet banking and our mobile app.

To learn more, visit the Confirmation of Payee page or view our frequently asked questions.

^®BPAY and Osko are registered trade marks of BPAY Pty Ltd ABN 69 079 137 518
^®eftpos is a registered trade mark of eftpos ABN 37 136 180 366
^®PayID and PayTo are registered trade marks of NPP Australia Ltd ABN 68 601 428 737

Interest Rate Changes for Savings Accounts effective 23 September 2025

Mon, 22 Sep 2025 05:52:28 Z

The following interest rates are effective 23 September 2025.

Everyday Pension Account:

Up to $2,000 – Decreasing by 0.05% from 0.05% p.a to 0.00% p.a
Over $2,000 up to $50,000 - Decreasing by 0.25% from 1.00% p.a to 0.75% p.a
Over $50,000 - Decreasing by 0.25% from 1.30% p.a to 1.05% p.a

Simple steps to improve your credit score

Thu, 18 Sep 2025 01:50:07 Z

When it comes to borrowing money, such as applying for a home loan, car finance, or even a credit card, your credit score plays a big role in whether you get approved. But while many Australians know they have a credit score, fewer actually understand what it is, how it’s calculated, or how to improve it. The good news is that if your credit score isn’t looking too healthy, there are a few simple steps you can take to boost and maintain your score over time.

What is a credit score?

A credit score is a number between 0 and 1,200 that represents how reliable you are when it comes to borrowing and repaying money. Lenders use it to help decide whether you’re likely to pay back a loan on time. The higher your score, the lower the risk you appear to be.

In Australia, your score is calculated by credit reporting agencies like Equifax, Experian, and illion. They collect information from banks, utility companies, and other providers about your repayment history, credit applications, and overall financial behaviour.

Your score usually falls into one of five categories:

Excellent: 800–1000 or 1,200 (depending on the credit reporting agency)
Very good: 700–799
Good: 600–699
Average: 500–599
Below average: 0–499

Why is your credit score important?

Your credit score matters because it can directly affect:

Loan approvals: Lenders often check your score before approving applications.
Interest rates: A higher score may help you secure lower interest rates, saving you money over time.
Borrowing power: A good score can make it easier to access higher amounts of credit if needed.
Everyday services: Even phone plans, electricity, and internet providers may check your score before signing you up.

In short, a strong credit score gives you more financial flexibility.

Why might a credit score be low?

According to moneysmart.gov.au, there are a few reasons your score could be sitting on the lower side:

Missed or late repayments: Even one missed bill can have a negative impact.
Too many credit applications: Every time you apply for a loan, credit card, or store finance, it’s recorded on your file. Lots of applications in a short time can raise red flags.
High levels of debt: If you’re carrying large balances on credit cards or personal loans, your score may take a hit.
High credit card limits: Even if you don’t use the full amount, lenders consider your approved credit limit as potential debt. Having a limit that’s much higher than you realistically need can reduce your borrowing capacity and hurt your credit score.
Limited credit history: If you’ve never borrowed before, there may not be enough information for lenders to assess you, which can keep your score lower.

Simple steps to improve your credit score

The good news is that your score isn’t set in stone. With a few smart habits, you can gradually improve and maintain it. Here’s how:

1. Pay bills on time

Your repayment history makes up a large part of your credit score, so paying bills late, even once, can leave a mark. This includes not just loans and credit cards, but also everyday bills like phone, internet, and electricity if they end up unpaid and reported. Setting up direct debits or calendar reminders can help make sure nothing slips through the cracks. If you know you’ll struggle to pay on time, reach out to your provider early as many offer hardship programs that can prevent missed payments from being recorded.

2. Keep credit applications to a minimum

Every time you apply for credit, whether it’s a personal loan, car finance, or even a store card, it’s recorded on your file. Too many applications in a short space of time can make lenders think you’re under financial stress. Instead of applying for multiple options at once, do your research first and only submit applications where you’re confident of being approved.

3. Reduce existing debts

If you’re carrying high-interest debt, focus on paying it down as quickly as possible. Even small, regular repayments above the minimum can make a big difference over time and will not only improve your score, but will also save you money on interest.

4. Check your credit report regularly

Mistakes happen and sometimes credit reports contain errors, such as accounts that don’t belong to you, or debts that you’ve already paid off. You’re entitled to a free copy of your report each year from agencies like Equifax, Experian, and illion and checking your report means you can spot issues early and request corrections. It’s also a good way to make sure you haven’t been a victim of fraud or identity theft.

5. Use and maintain credit responsibly

The length of your credit history is part of what makes up your score and lenders want to see how you’ve managed money over time. Keeping a credit account open over a period of time, such as a low rate and low fee credit card, can work in your favour when you keep the balance low and continue to pay it off in full.

6. Set up an emergency fund

Many people run into credit trouble when unexpected expenses pop up and they don’t have savings to fall back on. This often leads to taking on more debt and possible missed or late repayments. By setting aside even a small amount regularly into an emergency fund, you can create a buffer that helps you stay on top of your commitments. Even a few hundred dollars tucked away can protect your credit score in tough times.

How long does it take to see improvement?

There’s no overnight fix for a credit score and improvements depend on your personal circumstances and the issues dragging your score down. For example, missed repayments may stay on your report for up to two years, while defaults can last for up to five.

That said, positive behaviours like paying on time and reducing debt can start making a difference within a few months. The key is consistency, building good habits and sticking with them.

Once you’ve boosted your score, it’s important to keep it there. A strong score is all about consistent financial responsibility - paying bills on time, avoiding unnecessary debt, and checking your report regularly. Think of it like maintaining your health in that small, ongoing efforts are far more effective than one-off fixes.

This is not an offer to lend – approval is subject to credit assessment criteria. Terms, conditions, fees and charges apply – full details on application. This information provides general advice only. We do not provide advice about this product based on any consideration of your personal objectives, needs or circumstances.

How to Plan a debt-free Christmas

Thu, 18 Sep 2025 01:28:20 Z

It may seem like a while away yet, but before you know it you’ll be hearing carols in the shops and scrambling to finish your shopping. The festive season has a way of sneaking up, and if you’re not prepared, the costs can hit harder than a Boxing Day heatwave. The good news? A little planning now can help you enjoy Christmas without spending the following months paying for it. Here’s how to make it happen:

1. Start planning early

The earlier you start preparing, the easier it is to spread out expenses. Make a list of everything you’ll likely spend money on such as gifts, groceries, travel and end-of-year events.

Once you’ve got a ballpark figure, break it down into manageable weekly savings goals. For example, if you expect to spend $1,000 over Christmas and you have 12 weeks to go, aim to put aside around $85 each week.

2. Set a Christmas budget (and stick to it)

One of the biggest reasons people overspend is because they haven’t set a clear limit. Work out what you can realistically afford without dipping into savings.

Once you know your total budget, allocate amounts to each of the categories listed above so you know you’re covered for everything you will be needing to spend money on over Christmas.

3. Embrace Secret Santa and gift limits

If your extended family or friends tend to go all out on presents, suggest a Secret Santa or a spending cap. Not only does this save money, but it also take the pressure off of gift giving and you can focus on choosing something meaningful for just one person.

4. Get creative with gifts

Expensive doesn’t always mean better and some of the most appreciated gifts are personal, thoughtful, or homemade. Consider gift ideas such as:

Baking: Christmas biscuits, fudge, or rum balls in a nice jar.
Themed DIY hampers: such as coffee, pamper night, movie snacks.
Experiences: Plan an activity to do together.
Photo gifts: framed photos, calendars, or personalised ornaments.
Pottery: Make a one-of-a-kind piece such as a serving plate, utensil holder or trinket dish.
Thrift: Source treasures from local op shops which are full of unique finds. You could even suggest a ‘second-hand Christmas’ where everyone purchases gifts from an op shop which saves money, supports charity and guarantees one-of-a-kind presents.

5. Shop smart and early

Avoid the last-minute December rush where prices are high and choices are limited. Start keeping an eye out for sales earlier in the year, particularly mid-season sales, EOFY and Black Friday.

Other smart tips for shopping early:

Use cashback and rewards programs where possible.
Compare prices online before buying.
Buy in bulk for things like wrapping paper or non-perishable food.
Spread out purchases so you’re not hit with everything at once.

6. Cut back on extras that don’t matter

It’s easy to overspend on things that don’t actually add much to your celebrations. Do you really need three new sets of decorations, or will last year’s still do the job? Could you host a bring-a-plate lunch instead of covering the entire meal yourself?

Think about what really matters to you and your family. For most people, it’s spending time together, not how much money was spent.

7. Plan for travel costs

If Christmas involves travel, factor these costs in early. Booking flights and accommodation well in advance usually means better deals, while driving gives you more flexibility around costs.

If travel will stretch your budget, consider alternative arrangements, like celebrating slightly before or after Christmas when demand isn’t as high.

8. Focus on what matters most

When you think back to your best Christmas memories, chances are it’s not the price tag you remember - it’s the laughter, traditions, and time with loved ones. Create meaningful moments that don’t cost much, like a family games night, watching Christmas movies together, or a neighbourhood walk to see the lights.

Shifting the focus away from money and onto connection can help keep spending under control.

9. Start a Christmas fund for next year

Finally, one of the best ways to have a debt-free Christmas is to prepare for the next one. Once this season is done, consider setting up a dedicated Christmas savings account. By putting away even $20 a week from January onwards, you’ll have over $1,000 saved by December, making the festive season much less stressful.

This information provides general advice only. We do not provide advice based on any consideration of your personal objectives, needs or circumstances.

The scams you need to be aware of in 2025

Mon, 25 Aug 2025 07:28:15 Z

Scams continue to evolve in both sophistication and frequency, and in 2025 we’re seeing a surge in tactics designed to catch even the most cautious people off guard. Here’s a six of some of the most common scams doing the rounds right now, and how you can protect yourself and those around you.

1. Bank impersonation scams

What it is:

Scammers are pretending to be from your bank, often calling or texting you to alert you to ‘suspicious activity’ or a ‘compromised account’. They may already have some of your details and sound convincing. In some cases, they may even spoof the bank’s official phone number. Their goal can be to get you to transfer money to a ‘safe account’, share your text message verification codes, or allow remote access to your device.

How to spot it:

Banks will never ask you to move your money to a different account for security reasons.
Never share one-time passcodes, PINs, or remote access with someone who contacts you out of the blue.
If you’re unsure, hang up and call your bank back using the official number on their website or app.

Learn more about how we protect our customers and what to do if you think you’ve been scammed.

2. MyGov impersonation scam

What it is:

Scammers are pretending to be from MyGov, sending fake texts or emails that claim your MyGov account has been suspended, or that you’re owed a tax refund or Centrelink payment. The message will include a link to ‘log in’, which actually takes you to a fake site designed to steal your login credentials, identity and bank details.

How to spot it:

Be cautious of any messages claiming urgent action is needed with your MyGov account.
Never click on links in unsolicited emails or text messages – instead, log in directly at my.gov.au.
MyGov will never ask for your banking details via text, email or over the phone.

3. Fake job and recruitment scams

What it is:

Scammers are posing as recruiters or companies advertising high-paying remote jobs, often through job boards, social media platforms or text message. After expressing interest, you may be asked to provide personal information or make upfront payments for ‘training’ or ‘equipment’, only to find out the job doesn’t exist.

How to spot it:

If a job offer seems too good to be true, especially if it requires little experience or effort for high pay, it probably is.
Avoid any ‘employers’ who ask you to pay money upfront.
Always research the company independently and apply directly through official company websites when possible.

4. Fake parcel delivery scams

What it is:

These scams are still going strong in 2025, particularly around common sale times and in the lead up to Christmas. You might receive a text or email saying a parcel couldn’t be delivered or that extra payment is required. The message includes a link to reschedule or pay a fee, but the link will go to a fraudulent site designed to steal your information or install malware on your device.

How to spot it:

Be wary of delivery messages when you’re not expecting a package.
Don’t click on suspicious links, go directly to the courier’s official website or app.
Check the sender address closely. Scammers often use slight variations of real company names.

5. PayID scams

What it is:

A newer twist on buying and selling scams, PayID scams are increasingly common in online marketplaces. Scammers pretend to buy an item from you and claim they’ve made payment via PayID, then send a fake email saying you need to ‘upgrade’ to a business account to receive the money. They’ll ask you to transfer money to ‘complete’ the transaction.

How to spot it:

PayID is free and never requires an upgrade or extra fees to receive money.
Always log in to your own bank account or app to verify if money has been received, never rely on screenshots or emails.
If something feels off, trust your gut and walk away from the sale.

6. AI voice scams

What it is:

Thanks to AI technology, scammers are now using cloned voices of loved ones, particularly elderly parents or children to create distressing phone calls asking for help or money. They may say they’ve been in an accident or are in trouble and need urgent financial assistance.

How to spot it:

Be extremely cautious if you receive a call or voice message from a loved one asking for money under urgent circumstances.
Hang up and call the person back using their correct phone number to verify if the call was from them.
Establish a family “safe word” that can be used to confirm authenticity during emergencies.

How to protect yourself from scams

Stay sceptical: treat unexpected messages, phone calls or urgent requests for money with extreme caution.
Verify independently: use the official website, app or phone number to verify any claims, and never use contact details provided in a suspicious message.
Know the red flags: requests for remote access, personal information or payments are big warning signs.
Secure your accounts: use strong, unique passwords and turn on multi-factor authentication wherever possible.
Report scams: If you see or fall victim to a scam, report it to your bank immediately and report the scam to Scamwatch to help protect others.

Scams are getting smarter, but so can we. Talking about them with your friends, family and co-workers can spread awareness and go a long way in stopping scammers in their tracks.

This information provides general advice only. We do not provide advice based on any consideration of your personal objectives, needs or circumstances.

7 helpful tips to help get home loan ready

Fri, 22 Aug 2025 07:24:56 Z

Buying your first or even upgrading to your second home is an exciting milestone, but before you start scrolling through property listings and dreaming about paint colours, there’s some groundwork to lay. One of the most important steps in the home buying journey is preparing your finances and putting yourself in the best position possible for home loan approval.

Lenders look at more than just your income when assessing your application and want to ensure you’re financially responsible and capable of managing a mortgage.

Here are some smart, practical tips to help get your finances home loan ready.

Stay on top of repayments

If there’s one thing lenders love to see, it’s consistency. Making regular, on-time payments on things like an existing mortgage, rent, credit cards, personal loans, utilities, or buy-now-pay-later services helps show that you’re reliable with money.

If you’ve had the occasional late payment in the past, now’s the time to set reminders, automate payments where possible, and get back on track. A history of missed or late payments can work against you, even if they’re small, so proving that you’re financially dependable can make a big difference.

Keep your debt manageable

While having some debt doesn’t automatically disqualify you from getting a home loan, too much of it can affect how much you’re able to borrow, or whether you’re likely to be approved.

Try to reduce your existing debts before applying for a home loan. This includes personal loans, car loans and credit card balances. The less you owe, the more confident lenders will be in your ability to afford regular mortgage repayments.

Paying off smaller debts can also give your savings a boost by freeing up money each month that you can put towards your deposit.

Keep your credit card balances and limit low

It’s not just about whether you pay your credit card off each month, lenders also look at how much of your credit limit you’re using and the size of the limit itself. Even if your balance is at zero, lenders often calculate your potential repayments as if the full limit was being used.

For example, if you have a $15,000 credit limit, they’ll factor in the possibility that you could borrow and owe that entire amount, which can reduce your borrowing power.

To put yourself in the best position, try to:

Use only a small portion of your credit limit to show you’re in control of your spending.
Consider lowering your limit to what you actually need. A smaller limit means less “potential debt” for lenders to account for, which can improve your borrowing capacity.

If you have multiple cards, consolidating them or cancelling unused ones can also help present a cleaner financial picture and potentially boost the amount you’re able to borrow.

Hold off on big purchases

While it can be tempting to splurge on a new car or holiday, big purchases can set back your home ownership goals in two ways: they can reduce the amount you’re able to save for your deposit, and they may increase your ongoing expenses.

When you’re preparing for a home loan, it’s a good idea to keep your spending steady and avoid new financial commitments that could eat into your savings. The more you can grow your deposit, the stronger your application will look, and the less you’ll need to borrow.

Maintain job stability where possible

Lenders want to see that you have a steady, reliable income to cover your future mortgage repayments. If you’ve recently changed jobs or your income is unpredictable, it can make your application look a little riskier.

Generally, the longer you’ve been in a role, the better it looks to lenders. Of course, life doesn’t always wait for the perfect timing, but where you do have control, maintaining job stability can help strengthen your application.

Limit new credit applications

Every time you apply for credit, whether it’s a new credit card, car loan, or even interest-free finance on a purchase, it leaves a mark on your credit report. Too many applications in a short period can make lenders worry that you’re in financial difficulty or relying heavily on credit to get by.

Before applying for a home loan, avoid taking out new credit unless absolutely necessary to help protect your credit score and present a cleaner financial picture to your lender.

Consider keeping a well-managed credit card open

While having lots of credit cards can be a negative, keeping a single, well-managed card open can work in your favour. If you’ve used the card responsibly over time, making regular payments, keeping your balance low, and not missing due dates, it can help demonstrate a positive credit history.

This can be especially useful for younger buyers who might not have had much experience with credit yet.

Getting home loan ready isn’t just about saving a deposit, it’s about showing lenders that you’re financially stable, responsible, and ready to take on the commitment of a mortgage. The good news is many of the steps you can take are simple habits you can start right away.

Whether you’re buying your first home or upgrading to your next, these smart moves can help boost your chances of getting approved, and set you up for success as a homeowner.

And if you’re ever unsure about where you stand or what to do next, it’s worth having a chat with an Auswide Bank lending consultant. They can help you understand your borrowing power, find the right home loan for you, and guide you through the process step by step.

Our new mobile app is here!

Mon, 18 Aug 2025 23:28:54 Z

Our new Auswide Bank mobile banking app is here and ready for you to upgrade from Monday 18th August, 2025.

We’ve refreshed the app with a new look and feel that has a cleaner design, improved navigation, and even better accessibility features, making it easier than ever for everyone to bank with confidence.

Plus, we’ve made sure that upgrading is quick and effortless. Here’s what you need to know:

If you have automatic updates turned on, there's nothing you need to do, your app will update automatically
To manually upgrade to the new app, choose update from the App Store or Google Play
There is no need to re-register or reconfigure the app. Simply log in using your usual method of PIN, pattern or biometrics (such as TouchID or FaceID)
If you’re using biometrics and don’t have a backup PIN, you will be prompted to set a 6-digit PIN
As part of the app upgrade, some optional settings—including savings goals and quick balance needed to be reset. You can set them up again by selecting ‘Profile’ from the menu at the bottom of the screen.

Important: The current app won’t be available for much longer after the new app launches, so we encourage you to make the switch now to keep your mobile banking running smoothly.

It’s a quick and seamless upgrade and we think you’ll love the fresh new experience.

For more information or further assistance, please contact our Customer Care team on 1300 138 831 Monday to Friday, 8am - 6pm (AEST).

Learn more about the Auswide Bank mobile app

View our Frequently Asked Questions

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Apple, Apple Pay, Apple Watch, iPhone, Face ID, Touch ID and Mac are trademarks of Apple Inc., registered in the U.S. and other countries and regions. App Store is a service mark of Apple Inc., registered in the U.S. and other countries and regions.

Auswide Bank cuts variable home loan rates by 0.25% p.a.

Wed, 13 Aug 2025 23:49:15 Z

Auswide Bank will decrease rates for new and existing variable rate Home Loans by 0.25% p.a. effective from 28 August 2025.

Update for customers:
Auswide Bank will notify existing lending customers in writing to inform them of any changes to their repayment details.