We are developing the priorities for our 2024–25 work program and would like to hear from you on issues that may be causing harm to bank customers or leading to poor outcomes.
We received valuable input as part of the consultation we held last year to develop our 2023-34 work program.
The input influenced our priorities in 2023-24, which included:
- preparedness to deal with financial hardship requests and raising awareness of low or no fee bank accounts
- addressing the risk of financial abuse and issues with banks accepting and implementing third party authority requests as part of our planned follow-up inquiry into compliance with Part 4 of the Banking Code: inclusivity, accessibility and vulnerability.
Our 2023-24 Business Plan details all our current and planned areas of focus, including our activities to implement the recommendations of the 2021 independent review of the BCCC and the proposed transition to the new Banking Code, which is expected to continue into 2024-25.
We are working with banks, through the Australian Banking Association (ABA), to improve compliance with the relevant Code obligations for banking services offered through Bank@Post (part of Australia Post). We are also maintaining a watching brief on compliance with Code obligations for direct debit, including implementation of PayTo.
Our priorities for 2024-25
We would like you to consider new or emerging risks, issues or industry practices that are causing or likely to cause customer harm.
We invite you to complete a short survey to share your views on our priorities for next year.
The survey will be available from 12 December 2023 to 9 February 2024.
Prioritising our work
Using our Priority Monitoring Framework, each year we aim to focus our resources on the most important code compliance issues, particularly ones that are industry-wide, serious or systemic.
We value the perspective of all stakeholders in helping us establish our priorities for the year ahead.
Publishing survey responses
We intend to publish survey submissions on our website.
You have the option in the survey to notify whether you want your survey response published on our website.