Submission - Joint submission to the 2007 Review of the Electronic Funds Transfer (EFT) Code of Conduct to ASIC (May 2007)

Q10 – Should biller accounts continue to be excluded or should cl 1.4 be modified or, alternatively, removed altogether?

The reasons for the current exclusion of Biller accounts are unclear. It is preferable to have the coverage of the Code be as broad and simple as possible and the biller exemption has already caused some confusion. Biller accounts are growing in popularity and the exclusion should be removed to ensure that all EFT transactions receive equal treatment.