Australians have $1.5 trillion stashed away in deposit accounts, but are we losing out by settling for subpar savings rates?

This week on the Friends With Money podcast, Money’s Tom Watson is joined by Rachel Wastell, personal finance expert at Mozo, to chat about setting yourself up for savings success.

• Have banks passed on cash rate hikes to savers?
• What are the highest savings account rates around?
• Why are some savers reluctant to switch banks?
• How can you choose an account that suits your needs?
• How safe is money in the bank?

**Clarification: The Financial Claims Scheme (referenced in this episode) covers deposits of up to $250,000 per account holder, per ADI. For more information visit APRA’s Financial Claims Scheme hub.

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