Secondary users and Closed accounts

Does a person continue to have account privileges when an account is closed?

Rule 1.7 specifies that a person is a secondary user for an account if the person has account privileges in relation to the account. Rule 1.7 also refers to the sector specific schedules to the Rules for the definition of ‘account privileges’. Clause 2.2 of schedule 3 specifies that a person in the banking sector has account privileges in relation to an account with a data holder if the account is for a phase 1, a phase 2 or a phase 3 product and the person is able to make transactions on the account.

We consider that being able to “make transactions on the account” includes situations where a person is “permitted” or “allowed” to make transactions on an account. This can cover the wider situation where an account is closed and transactions cannot technically be affected. Hence, we consider secondary users continue to have account privileges when an account is closed.

What happens to a secondary user instruction when an account is closed?

Closing an account does not affect a secondary user instruction and it therefore remains current.

Can a secondary user continue sharing CDR data from a closed account?

As above, a person can continue having account privileges and a current secondary user instruction in relation to a closed account. The person can therefore continuing being a secondary user of that closed account. If the person continues being eligible in relation to the data holder (i.e. despite the account closure, the person continues to satisfy the eligibility criteria under r 1.10B and clause 2.1 of schedule 3), the person will continue to be able to share CDR data from the closed account subject to clauses 3.2(4) and (5) of schedule 3.