When it comes to banking, the vast majority of people seem to take a â€˜better the devil you knowâ€™ attitude, despite repeated calls from industry experts and even the Government to shop around for the best. This despite an abundance of baking alternatives and the introduction of numerous regulations designed to make the process easier.
Australians are increasingly time poor and banking decisions tend to be one we continue to put on the back burner to focus on what we perceive to be more pressing tasks. Many consumers also have multiple products with the one institution, which is another common impediment to making a change as people often feel invested emotionally with their provider.
Your choice of bank is a significant financial decision and it is well worth taking the time to decide whether or not you are being well served by your current institution.
Did you know that some banks are now offering interest rates below 6.00%. How much are you paying?
Speak to us immediately to organise a Free No Obligation Health Check on your finances.