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

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Q15 – Should cl 4.1(b)(v) be changed to allow a receipt for an EFT transaction by voice communication to specify the merchant identification number instead of the name of the merchant to whom the payment was made?

Consumers are likely to accept that this is an area where the EFT Code can be made more flexible to reflect the practical difficulties posed by telephone / voice systems. The revision of Clause 4.1(b)(v) proposed in the consultation paper appears suitable.

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