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

Q27 – Should there be a time after which EFT Code subscribers are no longer required to resolve complaints about EFT transactions on the basis set out in Part A of the Code?

Consumer stakeholders accept that some limitation period should apply. However, it is important that the period only begins when the consumer becomes aware of the breach, and that financial institutions do not unfairly rely on limitation periods to discourage legitimate complaints. For further details please refer to the Consumer Caseworker Submission