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Australian Banking & Finance, Dec 1, 2008

Authorised deposit-taking institutions (ADIs) have commenced providing account switching services to their customers.

Under the account switching package, a customer’s existing ADI will provide the customer with a list of their direct debit, direct credit and other automatic payments going back 13 months.

The customer’s new ADI, in return, will assist the customer with re-establishing their direct debits and credits.

The new services have been developed by banks, building societies, credit unions and other groups in a project co-ordinated by the Australian Payments Clearing Association (APCA).

“Delivering this initiative is a further example of the industry working co-operatively with government to promote competition and assist consumers,” APCA chief executive officer, Chris Hamilton, said.

The project involved active participation by more than 40 financial institutions, which together process around six million payments between accounts each day, according to Hamilton.

The initiative is part of federal Treasurer Wayne Swan’s Account Switching Package–as agreed between the Treasurer and financial institutions in February this year–which aims to reduce barriers to switching, and increase consumer awareness of financial services products and their costs.

“The services will make it easier for consumers to switch accounts by reducing the hassle involved in updating direct debit, direct credit and other automatic payments,” Australian Securities and Investments Commission (ASIC) chairman, Tony D’Aloisio, said.

“The switching services are expected to promote competition by encouraging consumers to shop around for the transaction account that offers the best value for money,” he added.

Independent financial comparison website, InfoChoice.com.au, supports the new service, saying it will be more convenient for consumers to transfer their banking relationships.

“This is particularly relevant in today’s economic climate when Australians need to be able to find and move to the best banking products, and the best institutions to suit their needs,” InfoChoice chief executive officer, Shaun Cornelius, said.

“These steps help encourage healthy competition in the market, which is ultimately good for Australians.”

It is still early days and Cornelius is watching with interest the adoption of the measures through the transition time.

“There remains an opportunity to build awareness of these benefits that consumers are now entitled to,” he said.

The general obligations for ADIs under the account switching package are contained in the new Part D of the Electronic Funds Transfer Code of Conduct (EFT Code), which is administered by ASIC.

The EFT Code is a voluntary industry code of practice, adopted by virtually all ADIs, covering all forms of consumer electronic payment transactions such as ATM and EFTPOS transactions, and telephone and internet banking transactions.

0 Comments | Oakland Tribune, Oct 21, 2008 | by Neil Gonzales

SAN BRUNO — Parkside Intermediate School officials are fed up with a rash of graffiti hitting their campus, and they want to install security cameras to catch the culprits.

“It’s not appropriate for younger kids when they see nasty stuff and inappropriate language” spray-painted on campus walls, said Assistant Principal Dan Lyttle. “It’s not the environment I want for the kids.”

Parkside leaders are scheduled to go over their proposal for a camera system during a San Bruno Park School District board meeting tonight.

Some local high schools already have such a surveillance system to deter vandalism, student fights and other problems, but Parkside would be the first middle school in San Mateo County to follow suit.

The proposal is to install up to 16 cameras outside the main building and gymnasium area, Lyttle said. “During the summertime, we were pretty badly vandalized.”

The cameras would focus on “blind spots” or areas that can’t be seen from the street after school hours, he said.

The use of the devices would respect students’ privacy in that the cameras would not be directed at bathrooms and locker areas, he said.

The consideration of cameras doesn’t mean Parkside has more problems than any other school, said district board President William “Skip” Henderson.

“We’re trying to do everything we can to maintain our facilities, keep the school clean and keep it safe for the kids,” Henderson said. “That’s a good school.”

The board would still have to approve the cameras. Lyttle didn’t immediately have a cost for the project.

Aragon High School in San Mateo and Terra Nova High School in Pacifica have brought in cameras in recent years.

“It’s been very beneficial,” said Michael Valmonte, dean of students at Aragon. “We’ve uncovered a couple of thefts and caught a couple of fights and some vandalism.”

But Valmonte cautioned that schools considering cameras should be aware of occasional maintenance and technical issues. “A couple of cameras (at Aragon) went out, and the recording wasn’t working for a week.”

Those schools would also need a person dedicated to review video, he said. “Sometimes it’s a tedious process.”

Staff writer Neil Gonzales covers education