What is a PayID business account scam?
If you are one of the millions of Australians using PayID, you have probably chosen it because of a mixture of convenience and security. But you can be vulnerable to a PayID business account scam – whether you have a business account or not.
Beware the PayID scam marketplace
As the cost of living bites in homes across the country, many Australians are turning to Facebook Marketplace to raise a bit of extra cash. But be warned: it has also become the PayID scam marketplace.
Rent increases: Do tenants have any rights?
Your landlord has just hit you with another rent rise. But this one isn’t just incremental, in keeping with inflation or the cost of living. It’s a jump of several hundred dollars a week. How are you going to afford it?
Smart money: How to avoid PayID scams
Have you heard about PayID scams? Perhaps you or a friend have fallen foul of the electronic payment system?
More than 18 million Australians have signed up to use PayID since its launch six years ago. The attraction is simple: it’s easy to use, free, and money is transferred quickly – whether you’re paying or being paid. The unique identifier (the ID part) is linked to your bank account and you only need a mobile number or email (and an ABN or CBN if you’re a business) to send and receive money.
The Australian Banking Association maintains it’s one of the most important steps customers can take to prevent scams, but the mobile-friendly service hasn’t been immune to scammers. Even the tech-savvy younger generation - least likely to be caught in other financial scams - has been caught out.
Online platforms such as Facebook Marketplace and Gumtree are popular hunting grounds for PayID scams.
Bad numbers: What’s behind the record complaints against financial firms?
Are you unhappy with your bank? Still disputing a transaction on your account that you didn’t make? Or have your dealings with the buy now, pay later (BNPL) sector left you more than a little hot under the collar? You’re not
Oversubscribed? Breaking the subscription trap
How many subscriptions do you have? Is it just Netflix and one other streaming service? Or do you subscribe to myriad apps on your phone or online? Do you even know how many subscriptions you have anymore?
Grocery gripe: Why does food cost so much more?
With everything from fuel, utility, to grocery bills rising constantly, Australians are watching their pennies – cutting back on luxuries, leaving heaters off, adding more blankets in winter, and catching the bus instead of driving.
But food isn't just another bill—it's a necessity. We have to eat, ideally healthily - shunning fast food and snacks in favour of fruit and vegetables, lean meat and seafood. But with food prices increasing an average of eight percent a year (many items have risen a lot more), the grocery bill is taking a bigger and bigger slice out of household budgets each week.
Broken promises: Are you eligible for an insurance refund?
Did you know that you could be in line for an insurance refund of up to $290? The Australian Securities and Investment Commission (ASIC) has discovered that over 5.6 million consumers have been overcharged by insurers, amounting to a total of $815 million.
Not so super: How to avoid delays in superannuation claims
Superannuation is our retirement safety net, a nest egg no one wants to access too early. But there are many reasons why you might need to do so, not the least of which is financial distress.
The Australian Financial Complaints Authority (AFCA) says the number of complaints involving delays in the handling of superannuation claims has jumped in the past year, from 18 percent of all complaints in 2022 to 24 percent in May 2023.
Raising hell: Why does childcare cost so much?
More than one million Australian families used childcare last year. If you were one of them, you know how expensive it has become.
After a six-month investigation, the Australian Consumer and Competition Commission (ACCC) handed down its interim report into the sector earlier this month.
The ACCC found that childcare fees were rising faster than inflation and wage growth, and government subsidies have failed to keep pace.