AUSTRALIAN Financial Review – June 27, 2018 The Australian Financial Service (AFS) has introduced an online banking platform that will allow Australians to open a bank account with just a phone call, without ever entering their details online.
The platform is available to all Australians, including Australians living overseas and their spouses and civil partners, as well as Australian residents in New Zealand.
In its announcement, the AFS said the new platform would provide the fastest and most cost-effective way for Australians to access financial services.
“In 2018, we will provide an online service for all Australians that will enable Australians to receive their banking services without entering their personal details,” the AFs said.
“It is expected that the service will have an annualised revenue of $US1.8 billion and that it will enable us to serve over 10 million Australians in Australia by 2021.”
This service will also be used by all Australians who are eligible for the National Disability Insurance Scheme (NDIS), as well the general population.
“The service will operate as a “virtual bank” and the AF has a $5,000 deposit option.
The AFS has been working with a number of financial institutions to build the service, which it expects to be fully operational by the end of 2018.
It said the service would be able to serve customers who are “offshore residents, permanent residents and the disabled, who do not have a bank in their home country”.
The service would also be accessible to those who cannot access a bank.
The service is available for all customers in the Northern Territory, South Australia and Victoria, the South West, Northern Territory and New South Wales. “
As the service is designed for Australians who do have a credit or debit card, it will not be available to customers who do also have a card,” the service said.
The service is available for all customers in the Northern Territory, South Australia and Victoria, the South West, Northern Territory and New South Wales.
“This service is not a substitute for a bank and is not available to those in the financial services industry who do want to open their own bank account.”
The AFs announcement comes a month after the NT Government announced that it would be making the NT’s online banking a priority for the first time in the country.
“With the launch of our online banking service, we are making it easier for Australian businesses to open and operate accounts,” Minister for Finance Chris Hazzard said in a statement.
“For many Australians, a bank online account is an essential tool to access their financial resources.
The NT Government is working closely with the banking industry to create a solution that is affordable, convenient and secure.”