Disclosing reversal transactions

Question

When a reversal transaction occurs for a Data Holder (DH), the DH can remove both the original transaction as well as the reversal transaction from Internet Banking, so that the customer no longer sees them in their transactions when viewing their account.

In Open Banking, the transaction data is kept in a separate data store, making it difficult to remove the original transaction from the data store when a reversal occurs.

The simplest option is to include both the original transaction and the reversal transaction in the data store for Open Banking, e.g.
-$20 payment
+$20 reversal

This is not consistent with what the member would see in Internet Banking, where both transactions would be removed. 

Is this approach of including both the transaction and reversal conformant according to the Consumer Data Standards (CDS)?

Answer

There is nothing in the standards to indicate the approach you describe is non-conformant. How to approach this is largely left to the competitive space.

Alignment to existing digital channels is a convention that should be honoured, but in this scenario it is not explicitly required by the CDS.

Using the approach you describe may result in consumer experience issues, leading to a complaint under the CDR complaint process. You may want to take this into account.