About the Consumer Data Right (CDR)
The Consumer Data Right (CDR) was introduced by the Federal Government to provide customers with rights to access specified data that relates to them (CDR data) held by organisations (data holders) and allow them to authorise the sharing of that external CDR data to other third parties (accredited data recipients).
BNK is currently a data holder. This means that we will share your data with an accredited data recipient, but only when you authorise us to do so.
CDR is jointly regulated by the Australian Competition and Consumer Commission (ACCC) and the Office of the Australian Information Commissioner (OAIC). The legislative framework includes the Competition and Consumer Act 2010 and the Competition and Consumer (Consumer Data Right) Rules 2020 (CDR legislation).
About this policy
Where BNK holds CDR data about you, you can ask us to share that data with other accredited data recipients. This policy describes your rights under the CDR legislation.
You should read this CDR Policy together with our Privacy Policy.
This policy may change as a result of future provisions or updates to the CDR legislation. The most current version of the policy will be published on our website and is available on request.
What data will be available under the CDR?
As a data holder, under CDR legislation we are required to make available certain data we hold about the products we offer and products which you hold with us.
The CDR data that is available for sharing includes:
- Customer data – certain data we hold about you such as your name, occupation and contact details and, if you operate a business, your organisation profile and contact details
- Account data – certain data we hold about your account such as account name, number, type, balance and features
- Transaction data – certain data we hold about transactions on your account
- Product specific data – certain data we hold about the product the account relates to such as, where relevant to the account, the type, name, price, associated features and benefits, terms and conditions and eligibility requirements.
We only share CDR data that we are required to share under the CDR rules (required product data and required consumer data). We do not accept requests for additional data we are not required to share (voluntary product data or voluntary consumer data).
How can your BNK data be shared?
You may want to share your data with an accredited data recipient so that they can provide you with a product or service.
To commence the process to share your CDR data, you must first connect with the accredited data recipient’s and provide your consent. You then notify BNK that you have given your consent. When this option is available we will advise you on how you can provide your consent.
We will then ask which product and service information you want to share. You then authorise BNK to share that information. Please note, you will need to review or refresh your consent and authorisation every 12 months, if you have not withdrawn your consent and authorisation.
Once BNK has disclosed your personal information to the accredited data recipient, we will then confirm:
- What CDR data was disclosed, including a data range, and the frequency for ongoing disclosure (if applicable)
- When the CDR data was disclosed
- The accredited data recipient of the CDR data
Please note to share your BNK CDR data you’ll need to be at least 18 years old and set up for online banking.
BNK and the CDR register
Whilst under the CDR rules we were required to enable sharing of your data by 1 July 2021, we will not be able to share your data until early 2022.
We are working hard so that we can be active on the CDR register as soon as possible. We are keeping the ACCC updated on our progress as we get closer to being able to support CDR data requests.
Once we have a launch timeline we will publish it on our website.
How do you correct or amend your CDR data?
If any of your BNK CDR data is incorrect, please contact us and ask us to correct it.
1300 BNK BANK (1300 265 226)
info@bnk.com.au
Within 10 business days we will let you know in writing whether we corrected your BNK CDR data or if we found it to be accurate.
How we deal with complaints
Our priority is to make things right.
If there’s a problem with how we handled your CDR data, it’s important we hear about it so we can make it right.
How to make a complaint
You can call us on 1300 265 226 or email one of our resolution officers at complaints@bnk.com.au
Please tell us your name and contact details, what your complaint is about (which can include the way we’ve handled your CDR data), what went wrong and what you would like us to do and any supporting documentation.
What happens after you have made a complaint?
Firstly, we’ll let you know as soon as we can that we’ve received your complaint.
We’ll then assess the information we have and investigate the issue. We will work with you to find a fair outcome.
If you’re unhappy with our response
If despite our best efforts you are not satisfied with the outcome or handling of your complaint, you may lodge a dispute with the Australian Financial Complaints Authority (AFCA). AFCA are a free complaint resolution service and their contact details are:
www.afca.org.au
1800 931 678 (free call)
GPO Box 3, Melbourne, VIC, 3001
If your complaint is about your privacy or how we handle your CDR data, you can also contact the Office of the Australian Information Commissioner:
1300 363 992
GPO Box 5218, Sydney NSW 2001
Contact us
If you have any questions about our CDR policy or need help, please get in touch:
1300 BNK BANK (1300 265 226)
info@bnk.com.au