Fire Your Bank! Money Tip without the Boring Stuff
December 8, 2008 by Josie Kay · Leave a Comment
Not happy with your bank, credit union or building society, but overwhelmed by the thought of canceling and re-activating all those direct debits? The Government introduced new rules from November 2008 which should make it easier (in theory anyway). Following is a link to http://www.fido.gov.au/fido/fido.nsf/byheadline/Switching%20bank%20accounts?opendocument#2 which provides a step by step process.
For people who love detail, included in the information is a booklet published by APCA (Australian Payments Clearing Association) which includes lots of good information. There is also a copy of the Code of Conduct that the financial institutions need to adhere to. Just go to Part D. It states they have to provide you with the information within five working days. Make sure you keep them on their toes. Read more
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