Submission - Joint response to the Review of the Electronic Funds Transfer Code of Conduct (2008)

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Proposal F2

• F2Q1 Do you agree with this proposal? Please give reasons.

 

F2Q1 Do you agree with this proposal? Please give reasons.

ASIC has proposed that receipts must include a truncated version of the account number, and must not include any extraneous information (such as an expiry date). This is a positive development and consumer stakeholders support this proposal. Consumer stakeholders also note that this provision effectively moves a key privacy protection from the non-binding ‘guidelines’ section of the current Code to the binding text of the main Code.

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