Interest Rate Rise, Time for a Commission Refund

With the recent interest rate rise in Australia, which showed big banks such as Commonwealth jump up 0.45 percentage points, Australian’s are heading towards receiving commission refunds.

When most people find out that the commissions they have been paying to financial advisors for years can be refunded they think it is too good to be true. Most think that the companies who will help recover these fees will hit them with more fees making the process all a big headache. Wrong, these companies will charge you a small upfront fee and only take a fair amount that is required for processing.

When you open a financial product such as a home loan, insurance policy or even superannuation, commissions will be paid towards a financial broker. These commissions are generally upfront, and then paid as an ongoing basis. Typically, these fees range from 0.2-1.2% of the total value.

For example, YourShare, rated Australia’s best commission refund service, will only ever take 50% up to $295, and then the rest is yours. As Paul Brady CEO says, “It really is money for jam. We can save the average family up to $1500”.

Commission rebates work on the following structure:

• No obligation service, if you request a commission rebate you will not be charged any fees for joining and can opt out at any time. No lock-ins.
• You are only charged if you receive commissions, when using these services you will never be charged an ongoing fee, instead you are generally charged up 50% up to $295.
• Your fees will never go up, when using commission refund services you will never be charged more by your funds. Also, as commissions are calculated as a percentage of the account balance the more your fund grows the more commissions you will receive.

So wait no longer, go and join a commission refund service today and start saving!