Finance & Fury Podcast

Welcome to Finance and Fury, The Say What Wednesday edition.  Today's question comes from David Hi Louis, I must commend you on your contribution to the finance community. If you have thought me one thing, it’s that the more you learn the more you realise how little you know. So, one thing that does perplex me is the Australian made product of the offset account. Whilst I understand how they work and the power they have when used correctly, I can’t figure out why the banks have them. I mean it’s the modus operandi of the banks to extract money from lenders via the mechanism of interest. Call me a cynic but I feel the banks must have an ulterior motive to this play. I would love to know your thoughts. - David    That is a great question – made me think as well and do some further digging – today - Offset accounts and Why banks allow them? First – the basic = Offset accounts are a type of deposit account that is directly linked to a loan – like a mortgage Money deposited into offset accounts effectively reduc