Yabby>> So your 25% of the market, seems to be dreaming.<<

I agree.

Doesn't change the premise though. It just changes the total investments into the CBA by the Australian superanuation segment, it is 14%....still bugger all, where do the returns from the remaining 76% go. The majority to other banks

*It just changes the total investments into the CBA by the Australian superanuation segment, it is 14%....still bugger all,*

Well no, you are grasping that number out of thin air. Super funds have around 55% of their assets in Australian and international shares. More then half of that would be the top 200 companies, in the Australian market. Banks make up about a third of the ASX and with 1 trillion held in major funds, that would be a huge banking investment. Add to that the half million private funds, again with a huge chunk in local shares, banks dominating, then add straight moms and pop shareholders, CBA has around 800'000 of those. It adds up to a huge invesment in our banks. For good reasons. Good dividends, and of course dividend imputation, which is not available to foreigners
who don't pay tax here.

Your going to be the death of someone Yabby, talk about return for investment in transaction accounts, it relates more closely top your assertion that the banks are benefactors.

*Right now the CBA are paying 0.01% interest on savings accounts with balances up to $49,999*

Well you had better change banks, Sonofgloin. My Westpac Esaver pays 3.5%, money available anytime. My cheque account pays zilch, so there is not much in it. But I can transfer money in and out of my esaver from my cheque account, as I please. I just renewed a short term deposit at 4.75%, down from 6%, as interest rates have dropped.

Yes, banks charge high interest on credit cards, but in total its a small part of their business. I've never paid interest on a credit card, as I pay it off before the due date.

What we know is this, as its published by all banks in their annual reports: Banks have a variety of sources of funding, from local moms and pops, deposits, overseas borrowings etc. I know of some people still being paid 8%, when they took out 5 year term deposits at that rate, a few years ago. Banks publish what they call their spread.
That is average cost of funds versus average interest received over their whole loan book of 2 trillion $. That averages out at a little over 2%. So if banks decided to make no profit at all, that would
only affect interest rates to the tune of about 1%, given that one percent of two trillion, is around 20 billion.

So best you rush to Westpac, Sonofgloin, I have shares in them and then I can make a profit out of you :)

It makes me smile, when you smile Yabby, and I bet you smiled as you tapped out that quite entertaining market comparison. OK I'll go the Wespac and give them my money and they give me 3.5%.

Then I take some of theirs, the one they paid 3.5% for and pay them 14% for the privilege. They do nothing excepting electronically storing a number of digits and I pay them 400% more for exactly the same type of transaction they give me 3.5% for.

The CBA announced a record profit the other day.
Then promptly announced huge staff cuts. Get real tiger.

On a whimsical note. Yabby is a deceiving nom de plume for your good self; it should be Lobster, silver tail lobster…lol…...

*Then I take some of theirs, the one they paid 3.5% for and pay them 14% for the privilege*

Well I never claimed that you were bright Sonofgloin, so if you do such silly things, I can blame nobody but you :)

You own a house, so could easily add to your mortage and pay maybe
6-7%, depending on how well you negotiate your deal.

14% loans would only apply to higher risk loans, with more write offs for the bank. To cover a higher risk, they charge more, fair enough.

Now if you were really smart, you could have put your money in fixed deposit at the bank for 8% when it was available and now borrow it back on the house for a couple of percent less!

But what many of the punters are really doing is blowing their money at the pokies and having none left, which you claim is great for the economy. Then they are off to the payday lender and pay 400%, to get through until next week. Then they wonder why life sometimes sucks.
Then they want to blame people like me, who worked and saved a bit, for their perils. I've never claimed that humans are too rational either.