Blog Post

Life’s too short to be manually typing in BPAY Biller Biller and Reference codes. Do you slice your own pizza?
Save yourself time by scanning your bills. All you need is your mobile phone’s camera and the Sniip app. 

Once you have scanned in your first bill, you will never go back to typing. But don’t just take our word for it, test it out for yourself!

The Sniip app auto-magically captures your bill’s BPAY Biller Code and Reference Code with a single scan. Then, all you need to do is confirm your details and choose your payment method.

Here’s how you do it. Simple!

1. Open the Sniip app on your phone

If you don’t have the Sniip app yet, no worries. download it from the Apple app store or the Google Play store.

2. Tap “+” to add your bill

3. Tap “Scan” 

4. Scan the BPAY Biller Code and Reference

Hover your phone camera over the BPAY Biller Code and Reference Code on your bill. The camera will automatically scan in the codes to your Sniip app.

5. Enter the amount you’re paying and your bill’s due date

6. Tap “Add Bill”

7. Tap “Pay” to pay now, or select the clock icon to schedule the payment for later

That’s right, you can schedule your bills for later payment when it suits you better.

8. Select/ Add payment type

Select a payment type you previously added or tap “+” to add a new payment type, like your debit card or credit card. And still get your reward points when using your credit card.

9. Review the details and tap “Confirm”

10. Enter your Sniip PIN or use your Face ID (for iPhones)

11. Tap “Pay”

12. All done

This is just the tip of the iceberg. Sniip has so many amazing features to make your life easier. You’ll love the ability to set reminders for bills and to save your bill history for easy access later. 

You’re not alone. Late fees are costing Australians around $286m a year according to research from one of the big four banks. 

Some energy bills can have late fees of up to 40 percent.

But despite this, 27 per cent of Australians pay at least one bill late each year.

In times like these, with unemployment up to 7.5 percent, we simply cannot afford to throw money away. 

So what’s the answer? 

Lining up at your local post office to pay your utilities bills is not only time consuming, with COVID-19, it’s less appealing than ever before.

Then there’s paying bills via internet banking. What should be easy enough tends to be a real chore. You start off your regular bill paying session with a coffee and a biscuit but after getting through a stack of bills and data-entry, you’re ready to drink something a little harder.

And let’s not forget to mention the bills you never even saw. Maybe the paper bill that never arrived, or got accidentally thrown into the bin with the latest wad of junkmail. 

Electronic bills sent by email definitely help. But why is it that most important bills end up in junk mail or spam? Or if you’re like us, you need someone to remind you to check your email regularly – both junk and spam too. 

Surely there’s a better way!? Well there is. 

There’s Sniip. 

Sniip is a Brisbane-based, Australian owned bill paying mobile app that makes bill payments super easy.

Better yet, Sniip’s bill scheduling feature helps you say goodbye to those late payments fees. 

Sniip’s m-billing (mobile billing) subscriptions means your regular bills can be sent straight to the app with push notification alerts for you when they arrive. This is in addition to any paper or electronic version you may wish to receive.

You can then pay your m-bill directly in the app with just a few clicks. Goodbye manual data entry and wrong digits! 

With Sniip, you can pay any BPAY bill. That’s right. Simply take a picture of the BPAY or Sniip code with your phone and let the Sniip app do the rest.

But our favourite feature? Bill scheduling of course! 

We’ve all paid a bill late because we’re waiting for our pay to come in, or wanted to push the bill into the next credit card cycle. There’s usually a good reason for not paying straight away, but then we often get distracted and completely forget about the damn bill.

With Sniip, you can schedule payment for when it best suits you. As soon as you get the bill, simply schedule the bill, and then forget about it. No worries!

But don’t just take our word for it. The results speak for themselves with 90 percent of bills paid using Sniip paid before the due date. 

That’s compared to our 63 per cent national average. 

It’s time for you to start getting back those late fees? You deserve to spend your money on what you want to spend it on, and we bet it’s not late fees. 

Sign up for Sniip today and together, we’ll make your life easier and less stressful.

Santa is thrilled to know that borders will likely be open by Christmas. The stock market was up again for another month and China is banning more Australian imports. 

The AUD continues to perform strongly with some economists tipping US80¢. We also had another record for the current account surplus.

The government passed JobKeeper 2.0 and a NSW Supreme Court ruling promises extended rent relief for small businesses.

In other news, Elon Musk is putting implants in pigs’ brains, Germany is getting tough on dog walking, and Domino is using AI to predict when you will order your next pizza.

The one-minute weekly recap

• PM calls for opening the domestic economy by Christmas and Daniel Andrews has agreed, meanwhile Victorian businesses are pushing for workforce bubbles. A Christmas bauble?
• JobKeeper 2.0 has been passed by parliament.
• The RBA keeps the cash rate on hold.
• The number of dwellings approved rose 12 per cent in July. 
• Australia’s 5th consecutive record current account surplus driven by a further widening in net exports will soften the June quarter GDP contraction to 5 per cent
• UQ says Australia’s aged care sector needs a $620m funding boost to meet basic standards and $3.2bn for best-practise. 
• QBE CEO sacked after complaint from female employee over inappropriate comments. 
• Channel 7 has acquires the Voice from the Nine Network.
• Harvey Norman has reported record sales and profits in 2020 and a boom in sales in July and August. 
• China has banned imports from a fifth major Australian meatworks. 
• Market economists tip the AUD to hit US80¢
• ASX caps off best August in 11 years with 2.2pc rise
• Japanese PM resigned for health reasons. 
• US Federal Reserve to adopt an average inflation target for monetary policy. Does that mean we’re guaranteed to get deflation now?

A Sniippet for You

What will happen to property this spring (AFR, 31 Aug)

• Except for Sydney, the stock of houses for sale is well down
• Potential sellers are waiting to see if the pandemic and the economy will improve
• Demand has been persistent during the pandemic

Small business rent relief to last until April after court ruling (AFR, 1 Sep)

• Retailers who received rent relief under the federal government’s COVID-19 mandatory code of conduct should continue to enjoy concessions for six months after the regulations expire in October according to the NSW Supreme Court
• Retailers and landlords who fail to reach agreement will have to pursue mediation
• The decision would affect all small and medium sized businesses (including retailers) in NSW and perhaps nationally

AI tells Domino’s when you will want a pizza with uncanny accuracy (AFR, 31 Aug)

• Domino’s is trialing a new AI system to predict deliveries 3 weeks in advance
• The goal is to make rosters more efficient to save on wage costs
• The system takes the TV guide, sporting fixtures, and past sales into account

Afterpay, Sezzle hit as PayPal unveils US push (AFR, 1 Sep)

• PayPal has unveiled plans to launch a buy-now pay-later product in the US
• The announcement led to a sell off in the buy-now pay-later sector in Australia on Tuesday
• PayPal can roll this out to its merchants very easily and has many more merchants and customers in the US than Afterpay

‘Sitting for just 90 minutes could be fatal’ – working from home (AFR, 1 Sep)

• Sitting for just 90 minutes slows the blood flow behind the legs by 50 per cent. The slower the flow of blood, the more risk there is of it becoming ‘sticky’ and forming dangerous clots.
• Anyone of any age can get a clot and if untreated, death can incur
• In the UK, working from home has seen the number of people who sit at their desk for four and half hours a day increase by 22.5 per cent

Competition rises for low-cost rental housing (AFR, 1 Sep)

• Rental supply has increased but demand for low-cost rentals has increased according to Anglicare
• Middle-cost renters are moving to low-cost rentals to save costs
• This has prevented rents falling in the low-cost category

QLD Premier cancels schoolies (AFR, 31 Aug)

• Last week, Palaszczuk announced schoolies week was cancelled
• QLD opened its borders to the rest of Australia (except Victoria) on July 10, but snapped them shut again three weeks later with the 2nd wave in Victoria
• Palaszczuk said she would not be pressured to open the borders by the PM or anyone else

How Australia could become the Saudi Arabia of renewable energy (The Guardian, 27 Aug )

• A massive 5,000-megawatt renewable hydrogen export operation has been proposed for the small WA town of Kalbarri and could be a model going forward
• Historically the production of hydrogen relied on fossil fuels 
• But advances in renewable energy means hydrogen production can now be green
• Countries such as Japan, Korea and Germany have already approached Australia for renewable hydrogen exports

A Sniippet of Finance advice

Why getting better with money starts with habits not spreadsheets (ABC)

• Choose a medium to long-term goal to motivate you e.g. holiday, education, new car, etc
• Break it down into small goals that take only one to three months to achieve
• On a day-to-day basis, come up with steps you can take towards the small goals

A Sniippet of Brain food

Elon Musk showcases brain implant in pig (The Verge, 28 Aug)

• Elon Musk’s brain-machine interface company Neuralink showcased a pig outfitted with the company’s brain implant
• It’s “like a Fitbit in your skull with tiny wires,” Musk said
• Merging human brains with AI is why Musk wants to create the devices 
• The device hasn’t been tested in humans yet, though the USFDA has designated it a breakthrough device

A Sniippet of Trivia

Germans must walk their dogs twice a day, new law will say (The Guardian, 19 Aug)

• Germany’s 9.4 million dogs are not getting enough exercise according to lawmakers
• Owners will need to take them out daily for at least one hour in total
• Doubts are being raised over enforcement

Last week, local politics was dominated by border-closure-wars and covid. Victoria continues to struggle. It was the only state not to see retail sales increase in July. Now QLD may host the AFL grand final. 

China has once again flexed its muscle on Australian exports with the wine industry now in its sights. Nothing like a Barossa red?

In the US ghost kitchens are replacing local restaurants as covid accelerates the delivery only category. Will we see this trend here?

In finance advice we look at the benefits of using an asset allocation for your portfolio. And in trivia we look at the dangers of riding Sydney ferries!

The one-minute weekly recap

• Business leaders are lobbying against the state and territory border closures while Treasury has said that opening borders will accelerate a jobs recovery. Cheers to Federation!
• QLD is set to pinch Melbourne’s AFL grand final in a deal expected to cost Victoria’s economy more than $50 million. Brisbane Cup anyone?
• Retail turnover was up 3.3 percent in July with only Victoria not seeing an increase.
• The PM has now said that the scheduled 12 percent rise in compulsory superannuation contributions will depend on the state of the economy next year, particularly unemployment. Maybe I should have done the early withdrawal ):
• Rating agencies and bondholders are suggesting that state governments may need to sell off assets to maintain their credit ratings. You mean they have things left to sell after the 90s?
• The RBA governor is advising the federal and state governments to transition COVID-19 support away from income support for business and households, to direct outlays on job-creating infrastructure projects. 
• The PM has announced a $1bn defence boost to stimulate the economy. It seems the PM thinks defence is the best offence against a struggling economy.
• Electric vehicle sales in Australia have tripled in the past year while overall sales are down 20 percent but Australia still lags the world. 
• David Murray and John Fraser have resigned from the AMP board, while Boe Pahari stood down as AMP Capital CEO in response to the release of the independent QC’s report into sexual harassment at AMP

A Sniippet for You

Is Australia’s ‘peak China’ moment here? (AFR, 19 Aug)

• China’s move to put heavy import duties on Australian wines because of allegations of dumping could mark a big change in Australia’s economic relations with China
• Has Australian exporters to China naively ignored the political risks?
• What will Australia do when the Chinese iron-ore boom tapers?
• Is the safer bet for investors to buy shares in Chinese companies?

Victoria’s stage four lockdown could last until end of September (AFR, 20 Aug)

• Melbourne University epidemiologist Professor James McCaw, who is leading virus modelling for the Commonwealth, predicts that Victoria’s stage 4 restrictions will last until the end of September
• Deputy Chief Health Officer Allen Cheng indicated “single digits, low double digits” are needed to lift restrictions
• Business groups and medical experts have called for greater disclosure on Victoria’s contact tracing efforts amid concerns

How to covid-proof your holiday bookings (ABC, 24 Aug)

• Pay with credit cards — they’re often protected by chargeback in case of cancellations 
• Book last minute 
• Drive rather than fly
• Read cancellation policies carefully
• Travel insurance will not generally cover trips booked after March 2020

Workers to lose $33k a year without reforms (AFR, 19 Aug)

• NSW Productivity Commissioner has warned that people will be $33,000 a year worse off and living standards will slip, unless governments stop relying on the mining boom
• The federal government had done “most of the heavy lifting” on productivity reforms in the 1980s and 1990s but now it is the states’ turn
• He has made 55 recommendations in a green paper including best-practice teaching, smarter infrastructure, and a better mix of state and local taxes

CEOs back apprenticeship scheme to train IT workers (AFR, 19 Aug)

•  6 CEOs have called for a formal IT apprenticeship scheme to address a labour shortage in the industry
• The federal Employment Minister has given tentative support

Despite everything, being a landlord is still the best job (AFR, 21 Aug)

• Landlords make more money than an average income earner – especially if they bought more than 10 years ago
• In 16 of the 29 quarters leading up to June 2019, the median Sydney home earned more than the median full-time worker earned from wages
• But according to the chief economist at AMP the good times could be ending, “There’s a high probability, particularly if immigration doesn’t return in strong numbers and we continue to see excess stock in the rental market, that prices and rent will fall and stay weak for a very long time”.

CBA is looking to help SMEs (AFR, 25 August )

• CBA is looking at ways to increase their SME share this includes: 
  • allowing receivable and inventory as collateral
  • growing their SME digital loan channel BizExpress: under a pilot program, SMEs can get access to unsecured loans of up to $50,000 within 15 minutes
  • putting about 120 business bankers back into branches by December

Are ghost kitchens the future of restaurants? (Wired, 8 Aug)

• Ghost or virtual kitchens are co-working spaces for restaurants who specialise in delivery only
• There are 119 in the US but that is expected to double over the next 12 months
• The coronavirus is playing a part with many traditional restaurants going delivery only
• Ghost kitchens save restaurants money on rent, servers, and other dine-in costs
• But is something lost when customers can’t dine in?

What happens to the markets if there’s a vaccine? (AFR, 20 Aug)

• Scenario 1: Taper tantrum: as governments pull back from their enormous fiscal stimulus, investors get nervous, and markets become volatile
• Scenario 2: The market jumps and expensive stocks get more expensive
• Scenario 3: Big recoveries in airline, travel, and other covid affected stocks
• Of course, a successful vaccine is not guaranteed

A Sniippet of Finance advice

Asset allocation as a guiding light (AFR, 24 August)

• Choosing investments based on current market conditions is unlikely to be a winning strategy in the long run
• Having an asset allocation rule based on diverse assets reduces return volatility
• Choose asset classes that have little correlation between them
• Within asset classes diversify between domestic and international
• Having an asset allocation rule also takes emotions out of trading

A Sniippet of Brain food

3 Brain Hacks To Be More Decisive (Forbes, 6 Aug)

• According to a recent McKinsey Global Survey, only 20 percent of respondents said their organizations excelled at decision-making
• Acknowledge that making NO decision IS a decision
• Accept that the future is unknown. Our brains like certainty but we need to get over it.
• Pursue growth not perfection. A great decision-maker isn’t hard on themselves when things don’t work out perfectly.

A Sniippet of Trivia

Low blow: Sydney’s new ferries won’t fit under bridges with passengers on top deck (The Guardian, 24 Aug)

• 10 newly purchased ferries will not be able to safely pass under bridges along the Parramatta River if commuters are sitting on the top decks
• Commuters may risk decapitation if they do not move below decks
•  In 2018, the NSW government bought 55 new trains worth $2bn that were too wide to safely fit through some tunnels