Consumer Data Right
This policy sets out how we manage product and consumer data (such as transaction history and account balances) under the Consumer Data Right (CDR). We’ll provide a copy of this policy to you at your request.
This CDR policy applies to ubank, part of National Australia Bank Ltd (ABN 12 004 044 937 and AFSL and Australian credit licence 230686) and its appointed representative 86 400 Pty Ltd (ABN 13 621 804 813) (both part of the NAB Group). NAB is the issuer of the products and services offered.
References to “we”, “us” or “our” used in this policy mean one or all of these organisations as the context requires.
This policy is effective as at 31 March 2022. We may update this policy – if we do, you’ll always find the most up-to-date version on the website or in the app.
What is the Consumer Data Right?
The Australian Government introduced the CDR (also known as ‘Open Banking’) providing consumers the ability to:
- Request access to CDR data relating to banking products i.e. product data;
- Share their CDR data with other providers that have been accredited to receive such data i.e. consumer data; and
- Correct their consumer data.
For more information please visit the CDR website at cdr.gov.au.
Accessing our Product Data
Product data is information about the banking products and services that we offer and extends to information about our pricing, eligibility criteria, fees, terms and conditions, and availability of our product offerings.
We’ve made information about our products available through public API’s. To access our product data please visit ubank.com.au/cdr/apis.
Accessing your consumer data
Consumer data is information about banking products and services that relate to you, as an individual including:
- Information about you as a user of a product and service;
- Information about your use of the product and service; and
- Data that is wholly or partly derived from these categories of information. For example, your transaction, savings accounts and home loans.
The types of consumer data that we hold include:
- Customer information such as your name, and contact details;
- Account details such as your account number, account name, balances, and fees and charges;
- Payee details such as the account name, number and institution;
- Scheduled and recurring payment details such as the amount, frequency and biller account details; and
- Transaction information including dates, description and the amount debited or credited.
You can access consumer data we hold by authorising us to share your data with another provider. We will only share your consumer data with organisations that have been ‘accredited’ to receive consumer data and only once you have provided consent. To view a list of these accredited organisations please see the CDR website at cdr.gov.au/find-a-provider.
Accessing your personal information that is also consumer data
To access your personal information that we hold contact us on 13 30 80 (or +61 2 9070 0202 if overseas). We’ll always give you access to your personal information unless there are certain legal reasons why we can’t.
Cancelling your consent to share data
You can cancel your consent for us to share your data at any time and we will stop sharing your data.
Correcting your data
You have the right to correct your consumer data if it is inaccurate, out-of-date, incomplete, irrelevant or contains misleading information. If any of your CDR data is incorrect, please call us on 13 30 80 and ask us to correct it. There is no charge for this.
Once you submit a request, we’ll aim to correct your consumer data within 10 business days. If we can’t correct your data, we’ll provide you with reasons why and how to escalate this matter.
In the unlikely event that you’re not happy with how we’ve reviewed your request, you can lodge a complaint with us.
If you have a complaint
If you have a complaint about the way we handled your CDR data, please get in touch and we’ll try to resolve your complaint quickly and fairly. We aim to acknowledge your complaint within 1 business day of receipt. When making a complaint please provide us with your name, preferred contact details and a short description of your complaint. We aim to resolve complaints within 30 days. The kind of resolution we provide will depend upon the nature of your issue or complaint, for example investigating and resolving concerns you may have in relation to your CDR data, or addressing issues with you accessing your CDR dashboard.
If we can’t resolve your complaint within these timeframes, we’ll tell you the reason for the delay, give you a date you can expect a final outcome and provide progress updates.
In the unlikely event that you’re unhappy with how we’ve resolved your complaint, you can seek assistance from the Australian Financial Complaints Authority (AFCA), the free and independent dispute resolution service.
You can also contact The Office of the Australian Information Commissioner if your complaint is about your privacy or how we handled your CDR data.