Better Products
Improving the performance, accessibility and value of banking products.
1
Real-time banking:
A new system is being developed so payments can be processed faster between Australian bank accounts. This will start being used from late 2017.
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2
Account switching:
Bringing together the Federal Government, regulators, and consumer groups, we’ll work to make switching banks easier, including helping customers better understand how they can switch.
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3
Fee transparency:
We’re making bank fees clearer, communicated more simply, and easier to avoid.
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4
Affordable banking:
We’re committed to provide banking services for all Australians at a fair price. Banks offer a range of products with low fees or fee-free options for customers on low incomes including pensioners.
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5
Fraud protection:
Banks play an active role in alerting customers about suspicious activity. From security alerts and information about how to put in place the right safeguards, to reimbursing customers who are innocent victims of fraud, we’re always looking for new ways to help protect customers.
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