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

Q70 – How much of the EFT Code’s requirements do non-subscribing entities take into account even though they do not subscribe to it?

It is unlikely that non-subscribing entities take any notice of the EFT Code provisions. PayPal and Checkout both offer EFT services. Their terms and conditions do not reflect basic EFT Code consumer protections.

For example, Google Checkout makes the consumer liable for ‘any and all transactions by persons that you give access to or that otherwise use such username or password’.