Australian Banking Association (ABA)

From today, the price on the shelf or on the menu is the price you will pay at the checkout. As part of the RBA reforms, banks are also reducing the fees they charge for processing debit and credit card payments. The RBA's card surcharge reforms are now in effect, meaning: 💳 Businesses can no longer add a surcharge when customers pay with eftpos, Visa or Mastercard 📉 Lower domestic interchange fee caps apply, with new caps for foreign-issued cards from 1 April 2027 🔍 Increased transparency will help businesses better understand and compare payment costs "Whether it's paying the plumber or buying a coffee, you will no longer be hit with an extra few cents or dollars for tapping your card." - ABA CEO Simon Birmingham 🔗 More information in the comments below.

If higher interest rates have you worried about your mortgage repayments, a conversation with your bank's specialist hardship team can help make things feel more manageable. You don't have to tough it out on your own. Support can be tailored to your situation and may include: 📉 Restructuring the length of a loan to lower repayments 🔄 Moving to interest-only payments for a period 🧾 Reducing or waiving fees The sooner you reach out, the more your bank can do to help. It can also pay to review your loan, with more than 660,000 home loans refinanced last year as Aussies shopped around for a better deal. Find your bank's hardship contact details on the ABA's Financial Assistance Hub: https://lnkd.in/gy-53Qqe

The ABA was pleased to welcome a delegation from the Vietnam Banks Association to our Sydney office today. It is always worthwhile to spend time with our counterparts from other markets and we appreciated the chance to welcome the delegation in person. 🤝 Our thanks to the VNBA for meeting with us today and we hope the rest of the visit goes well.

ABA CEO Simon Birmingham was at the Agribusiness Australia CEO Summit today, talking capital, competitiveness and food security with Grant Thornton Australia's Cameron Bacon. Banks finance the investment that helps make Australian farms and agribusinesses more productive and resilient. That is the machinery, technology and infrastructure that increases what they can produce, and the cash flow support that carries them through a dry year or a turn in prices.

When someone's money is being used to control them their bank is often the first place they turn. What happens next matters. The ABA's updated industry guideline, released today, strengthens how banks spot early warning signs, build safety directly into products and make sure customers only have to tell their story once. "Banks will never accept their products being used to control or coerce someone. It is despicable behaviour and the industry is working around the clock to stamp it out." - ABA CEO Simon Birmingham Read the media release: https://lnkd.in/gx5aQfcz

Your bank will never call and ask you to move your money to another account. Ever. Scammers know that if they can make you feel rushed, you're less likely to stop and check. So before you act on any call, message or payment request, watch for these warning signs: 🚨 Being pressured to act quickly 🚨 Being asked for your password or one-time passcode 🚨 Being asked to give a caller access to your online banking If this sounds familiar, contact your bank straight away, using a number you already trust not one from the call, text or email you just got.

The ABA and member banks are reminding businesses to make sure they are ready for the RBA's upcoming card surcharge reforms, which take effect from 1 October 2026. "From next month, the price consumers see in the aisle or on the menu will be the price they pay at the checkout. Similarly, when you shop or pay a bill online, you won't be hit with a card surcharge when you enter your payment details." ABA CEO Simon Birmingham 📄 Read the media release: https://lnkd.in/gP5AjsGQ

Money mules are the getaway vehicles that criminals use to run away with stolen cash. Offered fast, easy money for minimal effort? It’s not a deal, it’s a trap. Criminals are actively recruiting everyday Australians to rent, buy or use their bank accounts to move the proceeds of crime. 🛡️ Protect yourself: Never rent, sell or lend your bank account details to anyone, for any reason. Watch this video from Crime Stoppers Australia's 'Money Trap' campaign to learn how to spot the signs. 📹👇

Ever wondered where big bank profits actually go? Beyond the headlines, bank earnings are doing much more for Australia than you might think: 💡 interest returns paid straight back to customers 💼 wages & jobs supporting thousands of Aussie workers 📈 dividends returned to everyday Australians through super funds 🏛 taxes funding essential schools, healthcare and infrastructure 🎥 Watch to see how bank earnings are working for Australia.

The Banking Code of Practice is the only industry code approved by ASIC, setting consumer protections and safeguards that are in addition to the law. Today, the five-yearly independent review got underway led by former ASIC Deputy Chair Peter Kell. “This review is a chance to have a look at how the current Code is operating, hear the views of stakeholders and further strengthen standards for customers where necessary.” - ABA CEO Simon Birmingham Read the media release and access the new review website here: https://lnkd.in/gmMF_ivj