Banking Review

Trading places

Millions of Aussies switch banks every year. However APCA says reducing the barriers
to switching would enhance the utility of the payments system.

BY CHARIS PALMER

Bank account portability looks set to be debated within coming months, with the issue featuring in the submissions of several parties to the current Senate Committee inquiry into competition in the banking sector.

BPAY’s controversial MAMBO project may also come under increased scrutiny, raised ij both the Westpac and the Australian Payments Clearing Association submissions as an opportunity to make account switching easier.

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