australian banking system (3)

besides big four australian banks, there are also several other banks, some are regional banks and some are international banks.
there are a lot of regional banks such as Macquarie banks, bank of Queensland, St George Bank. but M &A are very common between these banks. Adelaide Bank is merged another banks last year, and Westpac bank looks like acquire St George bank, i think. these banks interest rates are various, due to fierce competitive in banking market, these banks' term deposit interest rates are commonly higher than the big four banks. Macquarie bank is a famous bank, but i have not seen that bank in VIC. from the textbook, i know that Macquarie is the biggest investment bank in Australia, and in 2008 or 2009, the CEO of Macquarie bank earned 30 million, that's the highest paid to CEO i have ever heard. 30 million, so much money. and if i remeber correct, i think that in 2008, Macquarie totally paid for the directors for more than 1000 million. the salary paid by Macquarie is higher than any big four banks. and almost all the regional banks have the same services as big four banks.
another type is international banks, such as HSBC, Citibank. there are few branches in Australia, but these two banks are bigger than any Australian banks. LOL. one of the Citibank branches is in Chinatown, just opposite the ANZ, the term deposit interest rates of Citibank are always higher than ANZ. but i do not have account in Citibank, so i never have a term deposit in Citibank. there is a branch of Bank of China in Melbourne, but i never been there, but i have a credit card of that bank, my only credit card. through the assignment of AFF 5050, i heard that there is a branch of Standard Chardard Bank in Melbourne, but i never see it.
i do not know whether it is a correct statement, i wanna say that BPAY and EFTOPS are very useful and convenient sevices provided by the banks. u can pay almost all the bill via BPAY without fee. BPAY is very easy to be used, just log in your online bank system, there is a option call BPAY, then start to use it. in Australia, u can pay your bill in post office too, but there are always a long line in there, so BPAY is a good choice for us to pay the bill. EFTPOS are everyone, although the machines belong to different banks, there is no fee for you to purchase, the shops take care of it. but in same circumstance, there is a surcharge for using credit card. if you use credit card, you can push the saving buttom on the machine, u can avoid the surcharge.

Australian Banking System (2)

in the last post, it stated that almost the big four banks provide the similar services, also the rules are similar.
for the students, no matter local students or international students, they both can avoid the monthly fee. but international student rarely can be approved for the credit card.for the normal bank users, some banks now have some special rules to help these users to avoid the monthly fee. for example, CBA has a promotion called "put a R into fee", that meaning free for monthly fee. but there are some conditions for a monthly fee free accouning, you must deposit certain amount money in your account until certain date, then in the rest of time of your card, you need not pay the monthly fee. other banks also has the similar rules, for example, u can see some big advertisements on some buses or bus stops, the ads say that NAB has no monthly fee account now, but i do not know the details.
about the credit card, i never apply for it, because i do not have job. but i hear that everyone who beyond 18 has the right to apply the credit card, but whether be approved depends on the bank. and CBA's rule is the most loose i hear, some students without job also get their CBA credit card, i do not know why and how. there is a type of card similar as credit card, that is debit vias or debit master card. debit visa or master is debit card but has the functions of visa or master card, but no credit. u spend your own money. the traditional debit card can not be used for online shopping or telephone shopping, but debit visa or master can. it has 16 numbers on the card as normal credit. when you shop online, debit visa or master card is treated as credit cards. visa and master are the most acceptable credit union in OZ, there are also other two credit union can be used in OZ, i.e dinner and American express. but not all the orginisations here accept these two credit cards. at first, ANZ's debit visa card needs to pay 5 dollar monthly fee even students can not avoid it. but now it is free. WEP and CBA at first, only Australian citizen or PR can apply the debit card, but now every can. NAB is the best, from the beginning, everyone can apply for it. and NAB's debit card is my first debit visa card, but for some reasons, i canceled it after using it for almost one year. i am now disputing with one US company, i think it is a fraud company, and i checked online, it really a fraud company. i canceled account, but my case is not end, i hope i can win in the dispute.
and about term depist, i think it you have small rest funds, say 5000-50000 australian dollar, ANZ's short term deposit rate is highest among these big four australian banks.
about the other services provided by these banks i have not used them, such as loan. so i do not konw the information about it.
in the next post, i will introduce other types banks exist in australia.

Australian Banking System (1)

this one will talk something about Australian Banking System
first of all, there are four big banks, all we can call it big four, of course, not the same as big four relates to accouting firm. the big four banks are ANZ (australian and new zealand bank), CBA (commonwealth bank), NAB (natioanal australian bank) and WEP (wespac bank). i have appied for all these banks debit card. but i have canceled NAB nad WEP. and ANZ card is my primary card. CBA is debit master card, so i can use it buy some stuff online, such as eBay.
these four banks are really huge, they all listed on the Fortune 500. they all the listed on the top 10 companies of australia. but the ranking order sometime changes, some years ago, NAB is the largest bank of Australia, but two years ago, CBA was the largest one, last year, ANZ was on the top. WEP's moto is the first bank of Australia, I think here first is means in timeline.
my first card in OZ is WEP card, then ANZ, after that is NAB, the last one is CBA.
australian banking system is a little different from China, there is a reserve bank in both China and OZ, but the different is, when reserve bank publishs the standard interest rate, the banks in China must follow it, but the banks in OZ don't. australian banks can adjust the interest rate reference to the reserve bank's interest rate, but not to follow it. and in most time, the banks' interest rate is higher that the standard rate. concequently, the interest rates are different among the australian banks. according to my own experience, maybe not accurate, in the term deposit aspect, ANZ is higher than the other 3 banks. 
and the services provided by the big four banks are almost the same, i think. debit card, credit card, term deposit, online banking, private banking, home loan, business loan and so on.
more details will be introduced tomorrow, i want to sleep now.....