🎁🎁🎁 Grab some Freebies! 🎁🎁🎁 💰Get $100 FREE if you sign up to ING with this link or use code: Jir462 & complete the 4 steps: bit.ly/3BuKGHd 💰 Ubank: Get $20 FREE if you sign up with my code & make 5 small purchases: bit.ly/3L0duZM or Use Code: MDPYUAG Bank of Queensland 5.4%: bit.ly/4a1Ue8q Macquarie 5.35% (4 months) then 4.75% : bit.ly/3PenZee ANZ Plus 4.9%: bit.ly/3PeAOFs 💰 Get 10 FREE Stocks (worth up to $3,626) + Earn 6.8% Interest (up to $3,353) for up to 100K Uninvested Cash + Free Premium Research Features if you sign up to Moomoo & deposit $1 using this link: j.moomoo.com/00A1xQ
Thanks! Well done on hitting your limit. The good news is there are many other savings accounts out there that can still give you a relatively high interest rate.
Taco .... Ubank is my favorite place to park most of my money ........I only keep 2 or 3 bank accounts to keep it simple and easy to manage ..... i Did have a Rams account but they dont offer any more good rates .....Cheers Bryan
Cheers Sir Dino. 2 or 3 is a good sweet spot for most people. You don't have to be a lunatic like me and have more than that. Have a wonderful week ahead mate.
Wonderful video as always. I really like your background. Judging from the that alone, I can totally tell you're a 90s kid! Source: I am also a 90s kid. 😊🌮
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Belinda dawn
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
Can you please do a video in regards how to transfer money from one bank to another, without paying any fees!??? I mean from the 4 big Banks, ex NAB!!? I want to transfers $100,000.00 but I am not sure if I would have to pay for fees!!???
Hey Bryan, TACO! Firstly, just want to say that I love your videos and have been following your channel for a while now. I make sure to hit a like on each one! Your research is great and your videos are a real joy to watch! You are definitely doing a great job! I live in Sydney and just want to know about your opinion on the UP Bank (brench of Bendigo and Adelaide Bank). I just opened an account with them I think the app is great. But their savings accounts offer only 4.35% at the moment. After watching your video I might consider also opening an account with UBank. I am also an ING costumer and do have a saving maximizer. Thanks and looking for your reply.
Hey mate, thanks a lot for the support! I really appreciate it. From purely a financial aspect UBank wins hands down due to the higher interest rate you will receive. 5.1% vs 4.35%. So it's a no contest if that's what you're after. Ubank + ING is the ultimate combo in my (biased) opinion. However, I have heard that Up Bank has a slightly better app and it's better at tracking your spend, connecting with other banks, and helps with budgeting. So it appeals with the new gen who like to budget. UBank also does these things but to a lesser level. I personally think UBank's app is already very good and easy to navigate. It does all the simple things well - receive interest, pay anyone, instant transfers, and multiple free accounts. I'll probably sign up to an Up Bank soon just so I can do a comparison in the future! Btw, love the content on your channel. It's absolute fire. I really enjoy motivational music 🎧🔥
Hi Bryan. As always, a legendary video! I have a few questions: 1) Am I correct that each one of the banks you have mentioned, has a base interest as well as bonus interest for savings account? Meaning that if I am not qualified for the bonus interest in a given month, will I still receive a base interest at least? Or will it be absolutely nothing?! 2) Let's say I put in my money in Ubank and 1 year later another bank gives a much better offer. In general, is it possible for me to withdraw all of my money from my savings account of my current bank, and transfer them to another savings account that has a better rate? 3) I have heard of something in the lines of the honey-moon period interest (not sure what the technical term is), during which the bank would give you a larger interest, and after which usual interest will apply. So, I guess I am confused about the difference between Base Rate Interest, Bonus Interest, and Honey-Moon interest. 4) If there is a honey-moon period rate, then a slick individual would keep transferring their savings between banks just for the duration of the honey-moon rate in order to maximize their returns. Is this possible in general? Could you please help me figure these issues out?
Hi there, I like your questions and the way you think. 1) Correct. You will still receive a 'base interest' but this is usually peanuts so try not miss any months. 2) Absolutely. It's your money and you're free to put it wherever you like without permission. The only problem you may encounter is a daily limit. Most banks including Ubank has a limit of around $20K so you may have to transfer it over several days if you have more than that. 3) Honey Moon Interest = a temporary offer to reward you with additional interest (on top of your bonus + base) for a few months. Base Interest = what you always get when you do nothing or don't qualify for the bonus. Bonus interest = what you will get if you complete all their monthly requirements. 4) Yes it is possible and slick people do this. It's called churning. However, the honey money interest would only be available to new customers. So once you jump to a new bank, you won't be able to get the honey moon rate again unless you cancel your bank and re-apply (which probably doesn't look good on your record). Also, there probably isn't enough banks offering high enough honey moon interest for it to be sustainable. A better plan would be to look for the banks with the highest interest and split your money across. Eg. Ubank currently offers 5.5% for the first 100K & 5% for the next 150K. ING offers 5.5% for up to 100K. There aren't many other banks offering more than that. If you had a spare 200K, it's better for you put 100K in Ubank and another 100K in ING instead of all into Ubank to maximise your interest earnings. Hopefully this answers your questions and gives you some ideas. Wish you all the best! 💛
Loved this. Finally some real actionable suggestions for a new immigrant to Australia. Just arrived and bogged down by the analysis paralysis for where to open my 1st bank account
Thanks Ethan. I've heard Up Bank is a very good bank/app. However, it 'only' offers 4.35% which is too low compared to all the options in this video. So unfortunately, it didn't make the cut.
Hey Bryan, are the banks you mentioned only for aus citizens or permanent residents? I know that temporary visa holders cannot open an account with Ubank.
Ubank and ING are for Australian citizens/permanent residents only. However, I think the other 3 may allow international visa holders especially ANZ Plus. You can give it a try, it only takes a few minutes to apply.
Thanks Vincent! Do you mean invest in gold? I’m not really a big fan of investing into precious metals at this stage in my life. I think it’s more a defensive/diversification move if you want to preserve your wealth.
Cheers mate. Some of my favourites: The Barefoot Investor Rich Dad Poor Dad Richest Man In Babylon Psychology Of Money Die With Zero The Intelligent Investor 5 Hour Work Week
Yeah, they almost made my list. On paper they look great, 5.4% with an easy requirement. However, from my research I’ve seen a lot complaints about their apps and customer service. I need to do more research for it to make to make the list next time.
Yes, that was one of the banks I researched. However, the 5.75% is only for 4 months then it reverts to 4.4%. I also heard from the finance community that the app is a bit outdated and slow. Too much work just to get a bit more interest rate for 4 months.
Hey Bryan love your video they're so helpful! Quick question: you mentioned with Ubank depositing the $200 requirement, are you actually able to deposit the money and then straight away send it back out of the account - still earning the interest? Thanks!
Yes, Ubank and ING are for Australian citizens/permanent residents only. However, I think the other 3 may allow international visa holders especially ANZ Plus. You can give it a try, it only takes a few minutes to apply.
Hi Bryan TACO I have a NAB reward saver savings account and its 5% interest up to any amount as far as I know. I never hear NAB being recommended or mentioned as a high interest savings account. Is there a reason for this ? Is it compounding interest like the others?
Hey mate, yeah I had a look and the no withdrawal requirement was a deal breaker for me. It basically turns it into a term deposit. Plenty of other banks out there that offer a higher rate with easier requirements. Compounding interest is just a term. As long as you get paid a consistent return, your money will always be ‘compounding’.
Hey Sarah, yeah I was tempted to include AMP Bank. On paper, that requirement is fantastic. The only thing holding me back was reading about some negative experience people were having with the app. Problems with opening accounts, being made to wait, transfers not going through, accounts getting locked out for extended period of time. It's definitely an option to consider but I'll have to do more research in order to include it in my next video!
Hi Bryan, would you make video for comparison between High Interest saving account such as Ubank or AMP or ING VS Government bonds ? we want to know if bonds is worth it or HISA is better to keep our money for short term 1-3 years time frame
Hi, great video! I've got a question though... I have a saving account in Europe and investments in ETFs in that account as well... But I'm going to live to Australia next year. So, Could I transfer my ETFs (acc) from the Europe's account to anothet broker in Australia without selling them? Thanks!
Hey mate you got a new subscribe here. Im trying to open account in ING but Im a bit confunsed on the process of how to unlock the 5.5 % interest rates. Can anyone explain again? Im a bit slow yet
Hey mate, welcome to the channel. Every month you need to: 1. Deposit $1,000 into either your Orange or Savings Maximiser Account. 2. Make 5 settle purchases using your Orange card. 3. Grow your balance from the previous month.
From what I've heard, it's a very good bank/app. However, it 'only' offers 4.35% which is too low compared to all the options in this video. So unfortunately, it didn't make the cut.
Can i ask a question? I want to start saving more (im a bad saver) But im lucky. I have a home loan. My homeloan has an offset account. Am i better off saving money and keeping it in my offset account? Or is it better to save it in a separate account such as ubank? I can see 1 downside to having it in my offset, and thats the fact that i might spend it. I feel if i had a seperate account specifically for saving it would help me not touch it. What do you think? 🌮
I was about to say keeping it in the offset was the easy and obvious choice. Perhaps create a seperate offset account and name it something you’re working towards like ‘emergency fund’ or ‘holiday fund’ to remind yourself it’s there for a reason and don’t touch it. Putting it in a seperate account probably won’t help you since you can still access it. I would say try to fix the root of the problem. Learn to be discipline with your money.
Hello Taco Bryan. I've been learning a lot through your channel and already recommend to friends. Just one question (maybe silly question) about tax deduction from Savings Maximiser earnings: they ask us to supply our TFN, which I did as my wife did as joint holder . That means they will deduct tax from both of us or just from the account principal holder? Thank you and appreciate your help
Hey mate, thanks so much for recommending me and I’m glad you find my videos helpful! The bank doesn’t have the right to deduct anything from your account. The TFN is more a record for the ATO tracking your interest. So during tax time, since it’s a joint account, you and your wife can both report half the total interest you received during the year. So you’ll essentially only pay tax once. Hope this makes sense.
Not really a fan personally. You’re not getting that much extra interest for locking your money up. Could be a decent option if you know for sure you won’t need the money for x period of time.
Taco! Thanks for the good info. Found your channel only few weeks ago and almost caught up. Any chance you could please do a beginners video on buying BTC /ETH which exchanges you recommend. Pros and cons. Thanks again Bryan!
Great video, even though you speak fast, it's easy to follow. I'm searching for a video on how to best manage personal bank accounts, daily spending, bills etc, do you have one?
Hi, sorry I’ve never invested directly into the Indian market from Australia. I’m not aware of any apps in Australia that provides this. You can have a look at something like IIND which is an ETF that tracks Indian companies from the ASX.
Hey bro if we invest in etfs through moomoo app, is it also risky? In your video you said it's not protected by the Australia for our funds if something bad happens?
Moomoo is chess sponsored so your ETFs will be safe for your Aussie stocks since they will be under your name. In the unlikely event moomoo goes bankrupt, you’ll be able to transfer your shares to another broker.
Taco! Thank you for this video. I'm a 48 year old Aussie and I'm trying to learn about finances to be better with my money. I just opened an account with uBank who now offer 5.5% with $500 monthly deposits up to $100K. It beats the paltry 2.35% interest that CBA were offering. I'm leaving CBA for good after seeing your video. Thanks again Bryan.
Awesome! I'm proud of you mate. I really like Ubank's new offer. I wonder if ING will try to beat it since Ubank is basically offering what ING is but more and easier to get.
It will take a while. Have you made the 5 purchases with your Orange card? As long as you completed all the steps, they will send the money don’t worry.
Bryan I need a favor from can you recommend which broker let you buy usa over the counter (otc) or pink shares. For example I am not able to buy Nestlé S.A. (NSRGY) & Mercedes-Benz Group AG (MBGAF). Can you please recommend a broker in Australia who let me do it
What do you know about Maxiron? They are offering up to 8.15% for a fixed term 3 - 36 months, fixed amount greater than $20k. Seems too good to be true. With the market so volatile at the moment, is it worth tucking some money into this and compounding it over the fixed term?
i've already applied for ubank by your link and made 5 purchases ( it said 5 not 3 ) which both of us can get30$ soon thank your for sharing I"ll kept waiting for another clip cheers
Hi friend, I am currently living in Australia, I am from Colombia and I will go back to my conuntry and not sure about coming back in the future, what account would you suggest me to save my money and that I do not have any problem, I will be in Colombia for long time and then travel around the world and not sure about coming back to Australia, I am not a citizen or permanent resident, but it could be a possibility in the future. Could you please help me, Thank you!
I actually checked them out. They promise a high 5.75% but it's only for 4 months then it reverts to 4.4%. I also heard from the finance community that the app is a bit outdated and slow. Too much work just to get a bit more interest rate for 4 months.
@@reachdigitalaus You got to look for which banks offer you interest in the first month. Some are sneaky and offer you interest only on the second month. So ideally move to a new bank once your current one has paid out your interest.
Correction: ANZ Plus Flexi from 1.Oct 2024 will pay 5% interest. Sounds good. No, this is a dead duck. The fine print says the 5% is only for the first 5000$. After that it is only 2%. So in the end the average interest is miserable if you have more than 5000$.
🎁🎁🎁 Grab some Freebies! 🎁🎁🎁
💰Get $100 FREE if you sign up to ING with this link or use code: Jir462 & complete the 4 steps: bit.ly/3BuKGHd
💰 Ubank: Get $20 FREE if you sign up with my code & make 5 small purchases: bit.ly/3L0duZM or Use Code: MDPYUAG
Bank of Queensland 5.4%: bit.ly/4a1Ue8q
Macquarie 5.35% (4 months) then 4.75% : bit.ly/3PenZee
ANZ Plus 4.9%: bit.ly/3PeAOFs
💰 Get 10 FREE Stocks (worth up to $3,626) + Earn 6.8% Interest (up to $3,353) for up to 100K Uninvested Cash + Free Premium Research Features if you sign up to Moomoo & deposit $1 using this link: j.moomoo.com/00A1xQ
Westpac life??
Worth mentioning that this offer isn't available in South Australia :(
@@ericagraham5225 Hey Eric, that's interesting. Which offer isn't in SA?
Love those Tacos! Signed up to your newsletter. Great to have someone focusing on Aussie content instead of only American! 🇦🇺
Thanks so much Oli. I totally agree. We need more Aussies talking about money!! ✊
Taco! 🌮 Thanks for the easy to follow and informative tips. I just hit my limit in ING and was looking at who to begin with next.
Thanks! Well done on hitting your limit. The good news is there are many other savings accounts out there that can still give you a relatively high interest rate.
Cheers, Bryan. You're my fav Aussie Finance RUclipsr! 100K is coming in no time. I'm off to eat some tacos now 🌮🌮🌮
Too kind, Jeff. I really appreciate your continued support 💙
Taco! Thanks for these videos, very helpful
Thanks Pieter. I'm glad it helps 😁
Taco .... Ubank is my favorite place to park most of my money ........I only keep 2 or 3 bank accounts to keep it simple and easy to manage ..... i Did have a Rams account but they dont offer any more good rates .....Cheers Bryan
Cheers Sir Dino. 2 or 3 is a good sweet spot for most people. You don't have to be a lunatic like me and have more than that. Have a wonderful week ahead mate.
@@BryanInvest cheers mate same to you ,, love your work on the channel ...
Wonderful video as always. I really like your background. Judging from the that alone, I can totally tell you're a 90s kid! Source: I am also a 90s kid. 😊🌮
Thanks! Haha, yep you got it me. What gave it away? The Mario star? The 3 Pokemon? Goku and Vegta? or all of the above? 😂
Taco 🌮!! Thank you so much for good information video 😁
Thanks Ranyoung for the support! 😊
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Belinda dawn
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
SHE'S MOSTLY ON TELEGRAMS, USING THE USERNAME
MITCHELL110 💯 ..that's it
or you can look her up on the web with her full name Belinda Dawn Mitchell
Can you please do a video in regards how to transfer money from one bank to another, without paying any fees!???
I mean from the 4 big Banks, ex NAB!!?
I want to transfers $100,000.00 but I am not sure if I would have to pay for fees!!???
Bank transfers in Australia are usually free. You should have no problem transferring out money from the big 4 banks without any fees.
Hey Bryan, TACO! Firstly, just want to say that I love your videos and have been following your channel for a while now. I make sure to hit a like on each one! Your research is great and your videos are a real joy to watch! You are definitely doing a great job! I live in Sydney and just want to know about your opinion on the UP Bank (brench of Bendigo and Adelaide Bank). I just opened an account with them I think the app is great. But their savings accounts offer only 4.35% at the moment. After watching your video I might consider also opening an account with UBank. I am also an ING costumer and do have a saving maximizer. Thanks and looking for your reply.
Hey mate, thanks a lot for the support! I really appreciate it. From purely a financial aspect UBank wins hands down due to the higher interest rate you will receive. 5.1% vs 4.35%. So it's a no contest if that's what you're after. Ubank + ING is the ultimate combo in my (biased) opinion. However, I have heard that Up Bank has a slightly better app and it's better at tracking your spend, connecting with other banks, and helps with budgeting. So it appeals with the new gen who like to budget. UBank also does these things but to a lesser level. I personally think UBank's app is already very good and easy to navigate. It does all the simple things well - receive interest, pay anyone, instant transfers, and multiple free accounts. I'll probably sign up to an Up Bank soon just so I can do a comparison in the future! Btw, love the content on your channel. It's absolute fire. I really enjoy motivational music 🎧🔥
Hi Bryan. As always, a legendary video! I have a few questions: 1) Am I correct that each one of the banks you have mentioned, has a base interest as well as bonus interest for savings account? Meaning that if I am not qualified for the bonus interest in a given month, will I still receive a base interest at least? Or will it be absolutely nothing?! 2) Let's say I put in my money in Ubank and 1 year later another bank gives a much better offer. In general, is it possible for me to withdraw all of my money from my savings account of my current bank, and transfer them to another savings account that has a better rate? 3) I have heard of something in the lines of the honey-moon period interest (not sure what the technical term is), during which the bank would give you a larger interest, and after which usual interest will apply. So, I guess I am confused about the difference between Base Rate Interest, Bonus Interest, and Honey-Moon interest. 4) If there is a honey-moon period rate, then a slick individual would keep transferring their savings between banks just for the duration of the honey-moon rate in order to maximize their returns. Is this possible in general? Could you please help me figure these issues out?
Hi there, I like your questions and the way you think.
1) Correct. You will still receive a 'base interest' but this is usually peanuts so try not miss any months.
2) Absolutely. It's your money and you're free to put it wherever you like without permission. The only problem you may encounter is a daily limit. Most banks including Ubank has a limit of around $20K so you may have to transfer it over several days if you have more than that.
3) Honey Moon Interest = a temporary offer to reward you with additional interest (on top of your bonus + base) for a few months. Base Interest = what you always get when you do nothing or don't qualify for the bonus. Bonus interest = what you will get if you complete all their monthly requirements.
4) Yes it is possible and slick people do this. It's called churning. However, the honey money interest would only be available to new customers. So once you jump to a new bank, you won't be able to get the honey moon rate again unless you cancel your bank and re-apply (which probably doesn't look good on your record). Also, there probably isn't enough banks offering high enough honey moon interest for it to be sustainable. A better plan would be to look for the banks with the highest interest and split your money across. Eg. Ubank currently offers 5.5% for the first 100K & 5% for the next 150K. ING offers 5.5% for up to 100K. There aren't many other banks offering more than that. If you had a spare 200K, it's better for you put 100K in Ubank and another 100K in ING instead of all into Ubank to maximise your interest earnings.
Hopefully this answers your questions and gives you some ideas. Wish you all the best! 💛
@@BryanInvest Bryan thanks a million for taking the time and elaborating on these issues. Yes! It is super clear now!
Taco! 🌮 please do an updated video on how beginners can buy ETFs 🙏
Good idea! I'll definitely put that on the priority list.
Loved this. Finally some real actionable suggestions for a new immigrant to Australia. Just arrived and bogged down by the analysis paralysis for where to open my 1st bank account
Welcome to Australia! I wish you enjoy your time here. All the best 👍
Signed up; with Macquarie last week due to the no fuss required
Great choice. No messing about. Only high interest rates.
TACO TONIGHT! How about UpBank? I thought it was Ubank but apparently there's another bank with a similar name...
Thanks Ethan. I've heard Up Bank is a very good bank/app. However, it 'only' offers 4.35% which is too low compared to all the options in this video. So unfortunately, it didn't make the cut.
Hey Bryan, are the banks you mentioned only for aus citizens or permanent residents? I know that temporary visa holders cannot open an account with Ubank.
Ubank and ING are for Australian citizens/permanent residents only. However, I think the other 3 may allow international visa holders especially ANZ Plus. You can give it a try, it only takes a few minutes to apply.
Taco! Thanks so much for this review, it was really helpful. Keep up the great work Bryan!
Awesome! Thanks for watching. I’m glad it helped 😊
Amazing content Bryan, during your video I saw a pub for Kinesis, what do you think about saving in gold banks instead of classic saving account?
Thanks Vincent! Do you mean invest in gold? I’m not really a big fan of investing into precious metals at this stage in my life. I think it’s more a defensive/diversification move if you want to preserve your wealth.
Taco, thank you @Bryant. Can you recommend some books of finance?
Cheers mate. Some of my favourites:
The Barefoot Investor
Rich Dad Poor Dad
Richest Man In Babylon
Psychology Of Money
Die With Zero
The Intelligent Investor
5 Hour Work Week
@@BryanInvest perfect, I started yesterday with barefoot investor thank you
TACO! I feel like we know each other, but i know we dont. If i ever see you get a massive hug. thanks for the tips.
What a wholesome comment. I live in Perth. If you ever see me, come say hello and I’ll give you a hug myself 💛
Hey man what about AMP bank they might be okay
Yeah, they almost made my list. On paper they look great, 5.4% with an easy requirement. However, from my research I’ve seen a lot complaints about their apps and customer service. I need to do more research for it to make to make the list next time.
How come you are not mentioning rabobank which offers 5.75% currently?? Just curious
Yes, that was one of the banks I researched. However, the 5.75% is only for 4 months then it reverts to 4.4%. I also heard from the finance community that the app is a bit outdated and slow. Too much work just to get a bit more interest rate for 4 months.
Hey Bryan, I really enjoy these videos. Can you please make a topic on real estate vs stocks for beginners? 🌮🌮
Thank you! Yes, this is a highly requested video so I am working on it. Please stay tuned!
Just signed up for email 🚀🚀🚀 Thanks Bryan
Awesome! Thanks for the support 🙏
Keep these videos coming...very helpful
Thanks Riley. Heapssssss more videos are coming out this year and beyond!
Hey Bryan love your video they're so helpful! Quick question: you mentioned with Ubank depositing the $200 requirement, are you actually able to deposit the money and then straight away send it back out of the account - still earning the interest? Thanks!
Yes, you can deposit and withdraw straight away and it will count :)
However, please note Ubank has changed their minimum deposit to $500 now.
Do you have to be a Permanent Resident to open a high interest savings account? It appears ubank requires to do so?
Yes, Ubank and ING are for Australian citizens/permanent residents only. However, I think the other 3 may allow international visa holders especially ANZ Plus. You can give it a try, it only takes a few minutes to apply.
Hi Bryan
TACO
I have a NAB reward saver savings account and its 5% interest up to any amount as far as I know. I never hear NAB being recommended or mentioned as a high interest savings account.
Is there a reason for this ? Is it compounding interest like the others?
Hey mate, yeah I had a look and the no withdrawal requirement was a deal breaker for me. It basically turns it into a term deposit. Plenty of other banks out there that offer a higher rate with easier requirements. Compounding interest is just a term. As long as you get paid a consistent return, your money will always be ‘compounding’.
Thanks for explaining that to me Bryan.
After this month I will be using UBANK for my emergency funds.
What about AMP Bank? It offers 5.4% and the only requirement is to deposit $1000 per month. Taco!
Hey Sarah, yeah I was tempted to include AMP Bank. On paper, that requirement is fantastic. The only thing holding me back was reading about some negative experience people were having with the app. Problems with opening accounts, being made to wait, transfers not going through, accounts getting locked out for extended period of time. It's definitely an option to consider but I'll have to do more research in order to include it in my next video!
Oh and signed up for your newsletter!
Appreciate it!
Hi Bryan, would you make video for comparison between High Interest saving account such as Ubank or AMP or ING VS Government bonds ? we want to know if bonds is worth it or HISA is better to keep our money for short term 1-3 years time frame
Hi, great video! I've got a question though... I have a saving account in Europe and investments in ETFs in that account as well... But I'm going to live to Australia next year. So, Could I transfer my ETFs (acc) from the Europe's account to anothet broker in Australia without selling them? Thanks!
aust Unity 5.2% no string attached!
I love how stoked you are about finance and I’m learning a lot. Taco!
What can I say? I live and breathe personal finance 😂. Thanks man, I appreciate it!
Thanks mate! really helpful appreciate your video very much bro, oh, i almost forgot to say Olla!! Oops i mean Taco!!🌮😂
Hey mate you got a new subscribe here. Im trying to open account in ING but Im a bit confunsed on the process of how to unlock the 5.5 % interest rates. Can anyone explain again? Im a bit slow yet
Hey mate, welcome to the channel.
Every month you need to:
1. Deposit $1,000 into either your Orange or Savings Maximiser Account.
2. Make 5 settle purchases using your Orange card.
3. Grow your balance from the previous month.
If you were to park 50k only one institute which would you choose?
Thank you for the delicious TACO 🌮 what are your thoughts on Up Bank?
From what I've heard, it's a very good bank/app. However, it 'only' offers 4.35% which is too low compared to all the options in this video. So unfortunately, it didn't make the cut.
Taco mate!! We need video about real state investment in Australia
Thanks Fernando. Yes, I am working on some. I have some interesting videos coming out!
Hi Bryan,if I deposit $1000 into the ANZ account do I get 4.90% paid per month or per year? Thanks
Hey Andrew, it’s per year 😊
Can i ask a question?
I want to start saving more (im a bad saver)
But im lucky. I have a home loan. My homeloan has an offset account.
Am i better off saving money and keeping it in my offset account? Or is it better to save it in a separate account such as ubank?
I can see 1 downside to having it in my offset, and thats the fact that i might spend it. I feel if i had a seperate account specifically for saving it would help me not touch it.
What do you think? 🌮
I was about to say keeping it in the offset was the easy and obvious choice. Perhaps create a seperate offset account and name it something you’re working towards like ‘emergency fund’ or ‘holiday fund’ to remind yourself it’s there for a reason and don’t touch it. Putting it in a seperate account probably won’t help you since you can still access it. I would say try to fix the root of the problem. Learn to be discipline with your money.
Great help thank you
Hello Taco Bryan. I've been learning a lot through your channel and already recommend to friends. Just one question (maybe silly question) about tax deduction from Savings Maximiser earnings: they ask us to supply our TFN, which I did as my wife did as joint holder . That means they will deduct tax from both of us or just from the account principal holder? Thank you and appreciate your help
Hey mate, thanks so much for recommending me and I’m glad you find my videos helpful! The bank doesn’t have the right to deduct anything from your account. The TFN is more a record for the ATO tracking your interest. So during tax time, since it’s a joint account, you and your wife can both report half the total interest you received during the year. So you’ll essentially only pay tax once. Hope this makes sense.
@@BryanInvest yes.. this make sense . thank you so much for your help.
Taco. Great insights.
Thoughts on term deposits?
Not really a fan personally. You’re not getting that much extra interest for locking your money up. Could be a decent option if you know for sure you won’t need the money for x period of time.
Been ur subscriber since u had 2k. Love ur contents mate
Thanks so much for the support mate. I really appreciate it ✊
Taco! Thanks for the good info. Found your channel only few weeks ago and almost caught up. Any chance you could please do a beginners video on buying BTC /ETH which exchanges you recommend. Pros and cons. Thanks again Bryan!
Wow, thank you for the support Frank! I really appreciate it. Yes, I will do more crypto beginner videos in the future. Stay tuned! 👍
Hi brian, just wanna ask if any of the account can be opened by an international student.
Great video, even though you speak fast, it's easy to follow. I'm searching for a video on how to best manage personal bank accounts, daily spending, bills etc, do you have one?
Thanks for these videos, very helpful
💙
Hi buddy could you recommend any app to invest in Indian market from Australia other than ibkr
Thanks in advance
Hi, sorry I’ve never invested directly into the Indian market from Australia. I’m not aware of any apps in Australia that provides this. You can have a look at something like IIND which is an ETF that tracks Indian companies from the ASX.
How about AMP Saver Account? They offer 5.4% p.a
I’m researching them now. They look good on paper but hearing complaints about the sign up process and issues withdrawing money.
TACO. Thank you so much, Bryan.
You’re welcome, Mary ☺️
Hey bro if we invest in etfs through moomoo app, is it also risky? In your video you said it's not protected by the Australia for our funds if something bad happens?
Moomoo is chess sponsored so your ETFs will be safe for your Aussie stocks since they will be under your name. In the unlikely event moomoo goes bankrupt, you’ll be able to transfer your shares to another broker.
Hi,
can international students apply for saving accounts in Australia?
thank you
Taco!! Subscribed, thanks for the info, very much appreciated
Glad to have you with us! Welcome to the community 😊
Taco! Thank you for this video. I'm a 48 year old Aussie and I'm trying to learn about finances to be better with my money. I just opened an account with uBank who now offer 5.5% with $500 monthly deposits up to $100K. It beats the paltry 2.35% interest that CBA were offering. I'm leaving CBA for good after seeing your video. Thanks again Bryan.
Awesome! I'm proud of you mate. I really like Ubank's new offer. I wonder if ING will try to beat it since Ubank is basically offering what ING is but more and easier to get.
Thanks Bryan!
🌮
Cheers Lorenzo! 🌮
Hi Bryan I didn’t get the 75 in ING I created the account but nothing
It will take a while. Have you made the 5 purchases with your Orange card? As long as you completed all the steps, they will send the money don’t worry.
@@BryanInvest oh ok awesome everything it’s clear, thanks Bryan and really good video!!
keep going!!
What about nab savings account?
Good interest rate 5% but I don’t like their no withdrawal requirement which effectively makes it a term deposit.
Just signed up to the newsletter after having a taco 🌮
Thanks, you won't regret it!
Bryan I need a favor from can you recommend which broker let you buy usa over the counter (otc) or pink shares. For example I am not able to buy Nestlé S.A. (NSRGY) & Mercedes-Benz Group AG (MBGAF). Can you please recommend a broker in Australia who let me do it
Taxi, good stuff dude 🤙
Thanks man 🙏
I opened ING account, and then hit this video, my bad 😞. thanks anyway, cheers!
Haha all good. You’ve chosen a great bank. Enjoy the interest rates!
Taco, new I loved it
Thanks Sandra 😊
Thank you so much! 🌮🛎️
Great channel mate love it good to have you on the platform go eagles
Thanks a lot mate. Go Eagles! 🦅
What do you know about Maxiron? They are offering up to 8.15% for a fixed term 3 - 36 months, fixed amount greater than $20k. Seems too good to be true. With the market so volatile at the moment, is it worth tucking some money into this and compounding it over the fixed term?
i've already applied for ubank by your link and made 5 purchases ( it said 5 not 3 ) which both of us can get30$ soon
thank your for sharing I"ll kept waiting for another clip cheers
Hey Chanya, thanks for pointing that out. It used to be 3 purchases. Looks like they’ve recently changed it. Hope you enjoy Ubank ✌️
The ING bank referral code is expired 😢
Yes, unfortunately it expired on the 31st March. They will likely bring it back around the end of the year.
@@BryanInvesti tried to click on the link and it seems its still valid? Can i still use it and get $75
Taco🌮 very helpful info thanks
Thanks! All the best 😊
Hi friend, I am currently living in Australia, I am from Colombia and I will go back to my conuntry and not sure about coming back in the future, what account would you suggest me to save my money and that I do not have any problem, I will be in Colombia for long time and then travel around the world and not sure about coming back to Australia, I am not a citizen or permanent resident, but it could be a possibility in the future. Could you please help me, Thank you!
Great video thanks 😊
Thanks for watching! 😃
Taco! How about rabobank?
I actually checked them out. They promise a high 5.75% but it's only for 4 months then it reverts to 4.4%. I also heard from the finance community that the app is a bit outdated and slow. Too much work just to get a bit more interest rate for 4 months.
@@BryanInvest thank you , I've heard the same. One more question how do you time moving to a new bank. End of month start of month?
@@reachdigitalaus You got to look for which banks offer you interest in the first month. Some are sneaky and offer you interest only on the second month. So ideally move to a new bank once your current one has paid out your interest.
Taco! great advise
Thanks!
Tacos! Thanks mate!
Legend! 🌮🌮🌮
Taco. Thanks Bryan 🙏
💛
This is the best taco video I've ever seen 👀
What a compliment. Thank you mate 🙌
you forgot Bank Australia...
👍🏼👍🏼👍🏼 Thanks for helping
💙💙💙
Taco!!!! Great Vid!
Thanks! 🙏
Correction:
ANZ Plus Flexi from 1.Oct 2024 will pay 5% interest. Sounds good. No, this is a dead duck. The fine print says the 5% is only for the first 5000$. After that it is only 2%. So in the end the average interest is miserable if you have more than 5000$.
Sheesh! I agree, I don't like that new update at all. Thanks for sharing.
Exactly what I need to start doing right now! Thanks Bryan for educating us about 💸! I am hooked and binge watching your videos 😃
No worries mate! Much more videos to come. I appreciate the support. Wishing you all the best for the future 👊
Taco!!! 🌮 thank u so much
You're welcome! Thanks for stopping by 😊
Great video👌👍
My mum works for one of these banks I’m gonna talk to her about this tomorrow 😂
I wonder which one...? 🤔
Tomorrow is Taco Tuesday 😋
Enjoy my friend. You have definitely earned it! 🌮🌮🌮
Great video, though don't trust ASIC to be watching out for Australian consumers. Their level of oversight is abysmal!
THANKSS !!! tacooo
Taco. Thankyou
Tacos Mate!
Cheers mate 👊
Tacos please.
Don't mind if I do 🌮🌮
TACOO
Yes! 🌮
taco thanks
Tacos 🌮 💙
Appreciate it bro 👊
Taco king
Haha! I like it 🌮👑
🌮🌮🌮🌮🌮Thanks, Bryan!
Thank you, Grace 🌮
11:55 💀🤣
😂 This life ain't for everyone...
Taco 🎉
🌮💙