MACQUARIE
Group chief executive Allan Moss
leaves the "millionaires'
factory" with a fortune worth
more than $80 million, setting
new standards in a debate about
how much executive pay is too
much.
Switchbanks
has had our meeting with the Federal
Treasury department. The news
is pending due to our successful
meeting.
Stay
tuned for the full update, at
which will help Australian's reduce
debt.
Points
of call - Debt consolidation hotline
- programs for people to eliminate
debt - Switchbanks has the tools
and will now take them further
for analysis with the Government.
Switchbanks
is currently in discourse with
the Treasurery Department through
The Hon Wayne Swan MP. We have
a meeting set down for April 2008
with the Treasurer. We will be
addressing many of the issues
that the government have been
discussing of late, when we meet
with Mr Swan next month. The governments
clarity and willingness to participate
with us now in helping Australian
citizens to reduce their debts
is very welcomed. Our vision is
without malarkey or discombobulation
and our desire has always been
to assist Australians, under financial
pressure. Switchbanks is not against
the banks, but has empathy for
Australian citizens who desire
a "switch" to ensure
a better outcome for themselves
in these difficult times or reduce
debt.
HAS
NOW BEEN WON WITH THE MEDIA AND
NEWS GROUPS ACROSS AUSTRALIA.
THE
AUSTRALIA GOVERNMENT HAS ACKNOWLEDGE
OUR DREAMS TO MAKE IT EASIER FOR
THE PEOPLE TO SWITCH.
Well...
This is not entirely true...
After
speaking with the Treasury (Jim
Chalmers PA DCS) and the hand
off attitude of APCA,
who appear to be just a puppet
of the treasury without their
backing, we became very suspicious
of the motives.
Switchbanks
called the CEO of APCA,
numerous times to discuss how
we might be able to work together
to help battling Australian's
under financial pressure. There
was very little response which
makes us think that they are not
really interested in helping us
to help Australian's.
Choice
stated that it was a great plan
back then, we didn't.
Switchbanks
were left in the dark as usual
to bigger corporations with more
power and stupid idea's.
To
put it simply, the Australian
Government has no power over the
banks. If the Government was really
interested, they could work to
provide ways of simplifying the
switching process by initiating
simpler compulsory procedures
for switching detailed bank accounts
from one bank to another.
This
is something that we don't think
will ever happen anyway, even
though it is used in various intelligent
countries.
Difficulty
in switching is always going to
exist. I don't feel that we will
ever see in our lifetime the banks
and the federal government working
together to provide simpler switching
"systems" that will
assist the Australian community
in this regard.
The
government is only compiling information
for the customer to take to another
bank. Reducing fees on the exit
and making the banks accountable
for the system of information
that will be produced to another
bank for easy entry. No porthole
or backend system will be produced
ever for an online switch.
Even
our switching system is manual
- time consuming and we can only
guide the switch externally.
SWITCHBANKS
WILL CONTINUE IN OUR MISSION TO
HELP PROVIDE A SIMPLER WAY FOR
AUSTRALIAN'S TO SWITCH BANKS.
WE WILL CONTINUE TO DO THIS FREE
OF CHARGE BECAUSE WE BELEIVE THAT
AUSTRALIANS SHOULD HAVE CHOICE
AND THAT THE SWITCH SHOULD NEVER
BE COMPLICATED.
At
least John Stewart head of NAB
states accurately how it is...
Thanks NAB for telling the truth
rather than skirting around the
table like some other major banks.
AUSTRALIA'S
banks should be focusing on customer
service and online security if
they want to retain their customers,
figures show. And the banks should
be concerned, with 80 per cent
of customers prepared to consider
switching providers, a survey
by information technology and
communications solutions provider
Fujitsu Consulting shows. He said
an average of 25 per cent of customers
a year were switching banks. Of
those respondents prepared to
consider switching banks, 26 per
cent said they would look for
a better rate, while 23 per cent
would switch to find better service.
NOW
CHOICE HAD DONE A REPORT LIKE
THIS SEVERAL MONTHS AGO STATING
THAT NOBODY WOULD SWITCH BANKS.
The
bank will transfer what it describes
as 41 back office finance roles
to Bangalore in India, which the
Finance Sector Union of Australia
(FSU) said will affect 90 employees
of the bank's Wealth Management
Finance division in Sydney.
ALMOST
$32 billion was wiped off the
value of the Australian share
market yesterday in the worst
day of trading, In other news
we have discovered that Australia's
top banks are still giving poor
service, creating Australian's
to use online banking because
of the drama of heading down the
bank. Switch understands that
the banking service is getting
worse with Australian banks ranking
13 out of 17 countries. Makes
you wonder why we pay top dollar
than nearly all of those other
countries in charges alone.
ANZ,
ANZ
National Australia Bank NAB,
Westpac WBC
and St George SGB
which have, to varying degrees,
already made the move to India
with ANZ reportedly paying Indian
IT graduates salaries of $8000
a year to work in its Bangalore
processing business. This compares
to the $35,000 it would have to
fork out for an equivalent Australian-educated
worker. NAB told staff in its
payroll department 10 days ago
it was putting their work out
to tender, possibly to offshore
providers.
BANK
of Queensland will now walk away
from the Bendigo Bank after its
second attempt at a merger has
been rejected in as many months.
With BOQ
switch understands they
are very difficult to deal with
(well our contact) and quite arrogant...
no wonder Bendigo bank wants nothing
to do with them
BROKING
analysts are worried that ANZ
Banking Group is facing an exodus
of senior executives following
the appointment of "an outsider"
to take over from John McFarlane
as chief executive.
SUNCORP
chief executive John Mulcahy has
stitched up a lucrative employment
contract that earn him at least
$5 million a year, plus up to
$8.5 million in shares, if all
his hurdles are cleared
Brisbane's
District Court heard Peter Charles
Gaff was employed in a senior
position with the NATIONAL
when
he dipped into dormant accounts
20 times beginning in January
last year.
By
Katherine Jimenez
THE nation's banks are facing
another shake-up of the payments
system as the Reserve Bank of
Australia considers scrapping
lucrative fees on credit, debit
and eftpos card transactions and
broadening its regulatory powers
to include American Express and
Diners Club.
HIRING
more workers in cheaper offshore
locations such as India is inevitable
for Westpac WBC
and other large Australian financial
institutions, according to the
bank's chairman, Ted Evans.
ANZ
has a company-owned facility in
Bangalore. There the bank ANZ
employs 1700 Indians on the same
terms and conditions, but significantly
less pay, than Australian workers
would receive.
Terry
McCrann - special report from
Melbournes leading News limited
Herald Sun writer. NAB'S
paddling British banks have had
a couple of good halves, indeed
on a par with the strong performance
of the Australian bank.
CITIGROUP
said overnight it would axe 17,000
jobs, or about 5 per cent of its
global workforce, in a broad restructuring
designed to cut costs and boost
profit.
A
letter written by former Bendigo
Bank board members has accused
the Bank of Queensland of being
arrogant and opportunistic in
its takeover bid, and warned the
bank's proposal could destroy
the central Victorian economy.
ANZ,
the third largest Australian bank,
has also more than 1000 information
technology employees in Bangalore,
India, working on computer software
for banking systems.
COMMONWEALTH
BANKS A $2.2 BILLION DOLLAR PROFIT
[ $2.191 billion for the half
year ended Dec 31, up from $1.99
billion in the same period last
year. ] source
SMH 14TH FEB 07
THANKYOU
TO ALL THE NEWS REPORTERS / COMPANIES
/ WRITERS...THAT HAVE PARTICIPATED
WITH THE LINKS - NEWS.COM.AU AND
THE RESOURCES ACROSS AUSTRALIA
- COURIER MAIL - PERTH NOW - DAILY
TELEGRAPH - HERALD SUN - THE AGE
- NT NEWS - ADELAIDE NOW - THE
MERCURY NEWS - THE AUSTRALIAN
- SMH.
IF
YOU WOULD LIKE US TO TAKE DOWN
ANY LINKS PLEASE CONTACT US AT
SWITCHBANKS VIA THE SUPPORT PAGE.
SWITCHBANKS IS ONLY HELPING THE
AUSTRALIAN CONSUMER GAIN MORE
KNOWLEDGE
