page top

Latest News


Slashed stamp duty gives a positive boost for first home buyers

Attention: open in a new window. Print

The new scheme released by the NSW Government for first home buyers is a game-changer and a welcome helping hand during these tough times.

For first home buyers, under the new scheme, the threshold that Stamp Duty will be charged on new homes will increase from the current $650,000 to $800,000, with the concession reducing on higher values before phasing out at $1 million. The stamp duty threshold on vacant land will rise from $350,000 to $400,000 and will phase out at $500,000.

Read more: Slashed stamp duty gives a positive boost for first home buyers

 

CUPID-19: Romance scammers taking advantage of the continuing pandemic

Attention: open in a new window. Print

With the pandemic continuing to affect the daily lives of Australians, romance scammers are targeting the emotionally vulnerable and taking advantage of people wanting to escape the reality of lockdown. 

Coined “romance scammers”, criminals create fake profiles on popular social media platforms such as Facebook and Instagram or dating sites. They then start a conversation with their targets to build their trust, sometimes talking to them multiple times a day and for several months. Once they have built up this trust, they will trick their victims through a false story and ask for money.

Read more: CUPID-19: Romance scammers taking advantage of the continuing pandemic

 

Lodging your tax return COVID-19 Edition

Attention: open in a new window. Print

As many of us would already know, lodging your tax return at the end of this financial year may be different compared to previous years. COVID-19 has resulted in many disruptions in the workplace causing some companies to relocate their staff to work from home. The Australian Taxation Office (ATO) has recognised this and has implemented a different method to claim some of your expenses this year.

Read more: Lodging your tax return COVID-19 Edition

 

Verified by Visa Changes to Visa Secure

Attention: open in a new window. Print

Visa recently enhanced its security for online purchases making the experience more seamless and easier while protecting Visa card users from fraud. Along with these enhancements, Visa has rebranded the name from Verified by Visa to Visa Secure.

Visa Secure is a free service available to all Members who are making online purchases with their Unity Bank Visa card. It provides an additional layer of protection for online purchases from participating retailers.

Read more: Verified by Visa Changes to Visa Secure

 

Savings Interest Rate Changes effective 1 June 2020

Attention: open in a new window. Print

We are reducing interest rates for our Bonus Saver Account (S7) by 0.10% to 1.00% (inclusive of the base rate plus bonus rate).

Read more: Savings Interest Rate Changes effective 1 June 2020

 

Spear Phishing: What is it and how to protect yourself.

Attention: open in a new window. Print

Cybercriminals are once again working hard to take advantage of the COVID-19 situation through new phishing campaigns. Most recently, a wide range of political and private-sector organisations in Australia have come under cyber-attack by a “sophisticated state-based cyber actor”. This phishing tactic is called spear phishing.

Read more: Spear Phishing: What is it and how to protect yourself.

 

Reducing your excess transaction fees

Attention: open in a new window. Print

In Oct last year, the entire Wesfarmers Group including Coles and Bunnings rolled out changes to their transaction routing capabilities on their EFTPOS machines where contactless payments are accepted. This software change now generates excess bank charges when a customer uses the Visa PayWave transactions at any of their business outlets. 

Read more: Reducing your excess transaction fees

 

Important Changes to BPAY Payments via Phone Banking

Attention: open in a new window. Print

As part of our ongoing commitment to the security of our Member’s funds, we will be reducing the daily BPAY limit for Members making payments via Phone Banking.

Read more: Important Changes to BPAY Payments via Phone Banking

 

Always Be On The Lookout To Avoid Scams

Attention: open in a new window. Print

Smiley face As your Mutual Bank, we strive to educate and operate vigilantly to prevent our Members from falling victims to scams or frauds. In the past few years, we have advised Members about different types of scams. The latest scam is where the caller identifies themselves as a representative of the "Fraud Department", "Visa Fraud Monitoring Team" or "Fraud team in Collins Street Melbourne" to coerce Members to provide their personal information, card number and transactional data.

Read more: Always Be On The Lookout To Avoid Scams