On 1 November 2008, a new Part D of the EFT Code of Conduct commenced.
An authorised deposit-taking institution must assist a user seeking to switch to a new authorised deposit-taking institution for their personal transaction accounts by providing a listing and switching service.
The listing service assists customers wanting a list of existing arrangements on their account. The switching service assists new customers in transferring arrangements from their previous account to their new account.
A user's current authorised deposit-taking institution must provide the user with lists of the following for the previous 13 months:
(a) direct debit arrangements;
(b) direct credit arrangements; and
(c) periodical payments
The user’s current authorised deposit-taking institution must also provide instructions to help the user identify the user’s own internet "pay anyone" payments.
The lists and information should be issued to the user as soon as practicable, and no later than 5 days after the request.
Until 1 December 2009, if an authorised deposit-taking institution that receives a request to provide a listing service cannot provide full lists containing all the information required , it must ensure that there is sufficient information for the user and their new authorised deposit-taking institution to identify all the relevant direct debit arrangements, direct credit arrangements and periodical payments.
From 1 December 2009, an authorised deposit-taking institution that receives a request to provide a listing service must comply with Part D in full.