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Seven simple steps to better banking security

Be mindful. It’s a sad fact that there are people out there who would rather steal than earn their money. Your bank is highly aware of the ever-evolving tricks and techniques they use to access your accounts pretending to be you in order to steal your money. Your best defence is to always be aware and keep your confidential banking details confidential. These seven simple steps below will help keep your accounts secure with your money safe and sound inside. …

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Adding up the costs of buying a home

There are a number of costs which don’t immediately come to mind… Home purchase costs may vary depending on such things as the type of property, the location and value of the property. Let us help you navigate through these costs so when the time comes for you to buy your first home, you have them in your budget.  Stamp Duty This will be your biggest upfront cost after the deposit. The exact amount depends on the value of the …

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Federal Budget

The Budget was delivered on May 11 by Treasurer Josh Frydenburg and, as expected, it is considerably shaped by the extraordinary times we live in: the ongoing impacts of the COVID-19 pandemic on our economy, our lifestyle and our economic recovery path. Major metrics Defying predictions, unemployment hasn’t risen to forecast all-time highs as a result of the pandemic and is now expected to drop below 5% late next year. This is great news for a government whose strategies of supporting people through a range of supportive programs appear to be working. Inflation and the CPI …

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Update: Internet Banking Outage Resolved

All of First Option’s internet banking and mobile app services are now back online. If you have any further issues with your banking services, please email our member services team at info@firstoption.com.au, or call us on 1300 855 675 during business hours.

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March inflation and mortgages

According to the latest data from the Australian Bureau of Statistics (ABS), CPI rose 0.6 per cent in the March 2021 quarter and annual inflation increased to 1.1 per cent the lowest annual movement on record. Read more on the ABS website CPI (the universal acronym for Consumer Price Index) indicates the economy’s inflation rate, the percentage increase/decrease of the actual cost of essential products and services, the buying power of your dollar. That’s why it’s often called a ‘cost …

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Banking through Australia Post

The Bank@Post initiative championed by Australia Post under CEO Christine Holgate is a part of the wider strategy to broaden the range of services offered by post offices in order to make the overall organisation profitable and keep it from being privatised. Bank@Post means that Australia Post’s 3,500 post offices around the country, including many in rural and regional areas, are able to act as proxy branches for First Option Bank. In any post office you can deposit cash and …

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New fraud protection SMS Messages for First Option Bank accounts from 3 May 2021

We are making changes to our Debit and Credit Card fraud monitoring services. We will now be sending SMS (text messages) asking you to confirm if certain transactions are genuine. You will be able to respond by a simple SMS reply. This new SMS service applies to all First Option Bank VISA cards enabling you to easily authenticate genuine transactions, and be alerted about suspected fraudulent ones.   SMS messages you receive will include the transaction amount and time and …

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Easter Hours

Our Member Services Team will be on leave for two Australian holidays: Good Friday and Easter Monday. We will be open again from 9:00 am on Tuesday, 6th April. We wish all Members a happy and safe Easter break! Photo by Waranya Mooldee on Unsplash

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