The ACCC released an issues paper on 2 October 2018, seeking views and experiences from a variety of parties, including:
- consumers
- small businesses
- suppliers of foreign currency conversion services
- other stakeholders, including consumer advocacy groups and industry bodies.
The ACCC invited responses from parties through written submissions and online questionnaires.
Written submissions
The ACCC received 63 written submissions. We have removed personal details from each of the submissions. Aside from these redactions, submissions are presented in full unless a confidentiality claim over part or all of the submission has been made and accepted by the ACCC.
Submissions received from consumers and small business
| Document title | Published date |
|---|---|
| Consumer 1 ( PDF 108.5 KB ) | 20 December 2018 |
| Consumer 2 ( PDF 94.3 KB ) | 20 December 2018 |
| Consumer 3 ( PDF 88.39 KB ) | 20 December 2018 |
| Consumer 4 ( PDF 65.64 KB ) | 20 December 2018 |
| Consumer 5 ( PDF 106.94 KB ) | 20 December 2018 |
| Consumer 6 ( PDF 47.84 KB ) | 20 December 2018 |
| Consumer 7 ( PDF 94.85 KB ) | 20 December 2018 |
| Consumer 8 ( PDF 35.37 KB ) | 20 December 2018 |
| Consumer 9 ( PDF 44.87 KB ) | 20 December 2018 |
| Consumer 10 ( PDF 84.8 KB ) | 20 December 2018 |
| Consumer 11 ( PDF 40.99 KB ) | 20 December 2018 |
| Consumer 12 ( PDF 56.45 KB ) | 20 December 2018 |
| Consumer 13 ( PDF 54.84 KB ) | 20 December 2018 |
| Consumer 14 ( PDF 25.76 KB ) | 20 December 2018 |
| Consumer 15 ( PDF 106.05 KB ) | 20 December 2018 |
| Consumer 16 ( PDF 282.6 KB ) | 20 December 2018 |
| Consumer 17 ( PDF 92.01 KB ) | 20 December 2018 |
| Consumer 18 ( PDF 49.54 KB ) | 20 December 2018 |
| Consumer 19 ( PDF 97.63 KB ) | 20 December 2018 |
| Consumer 20 ( PDF 245.57 KB ) | 20 December 2018 |
| Consumer 21 ( PDF 163.99 KB ) | 20 December 2018 |
| Consumer 22 ( PDF 706.13 KB ) | 20 December 2018 |
| Consumer 23 ( PDF 130.08 KB ) | 20 December 2018 |
| Consumer 24 ( PDF 98.44 KB ) | 20 December 2018 |
| Consumer 25 ( PDF 83.88 KB ) | 20 December 2018 |
| Consumer 26 ( PDF 141.97 KB ) | 20 December 2018 |
| Consumer 27 ( PDF 515.93 KB ) | 20 December 2018 |
| Consumer 28 ( PDF 238.59 KB ) | 20 December 2018 |
| Consumer 29 ( PDF 567.93 KB ) | 20 December 2018 |
| Consumer 30 ( PDF 58.77 KB ) | 20 December 2018 |
| Consumer 31 ( PDF 16.58 MB ) | 20 December 2018 |
| Consumer 32 ( PDF 702.34 KB ) | 20 December 2018 |
| Consumer 33 ( PDF 182.31 KB ) | 20 December 2018 |
| Consumer 34 ( PDF 43.88 KB ) | 20 December 2018 |
| Consumer 35 ( PDF 8.25 MB ) | 20 December 2018 |
| Consumer 36 ( PDF 13.87 MB ) | 20 December 2018 |
| Consumer 37 ( PDF 521.19 KB ) | 20 December 2018 |
| Consumer 38 ( PDF 178.84 KB ) | 20 December 2018 |
| Consumer 39 ( PDF 5.68 MB ) | 1 February 2019 |
| Small business 1 ( PDF 254.93 KB ) | 20 December 2018 |
| Small business 2 ( PDF 105.01 KB ) | 20 December 2018 |
| Small business 3 ( PDF 15.87 MB ) | 20 December 2018 |
Submissions received from suppliers of foreign currency conversion services
| Document title | Published date |
|---|---|
| Alipay Australia and New Zealand ( PDF 147.47 KB ) | 20 December 2018 |
| American Express ( PDF 559.25 KB ) | 20 December 2018 |
| Commonwealth Bank of Australia ( PDF 41.32 KB ) | 20 December 2018 |
| HiFX ( PDF 342.04 KB ) | 20 December 2018 |
| Mastercard ( PDF 6.61 MB ) | 20 December 2018 |
| NAB ( PDF 77.39 KB ) | 20 December 2018 |
| OFX ( PDF 955.9 KB ) | 20 December 2018 |
| Paypal ( PDF 1.06 MB ) | 20 December 2018 |
| TransferWise ( PDF 655.83 KB ) | 20 December 2018 |
| Travelex ( PDF 15.12 MB ) | 20 December 2018 |
| Visa ( PDF 533.54 KB ) | 20 December 2018 |
| Western Union ( PDF 4.44 MB ) | 20 December 2018 |
| Westpac ( PDF 115.59 KB ) | 20 December 2018 |
Submissions received from other stakeholders
| Document title | Published date |
|---|---|
| ARCPA ( PDF 237.52 KB ) | 20 December 2018 |
| FEXCO ( PDF 755.09 KB ) | 20 December 2018 |
| Finder ( PDF 118.23 KB ) | 20 December 2018 |
| NSW Small Business Commissioner ( PDF 204.72 KB ) | 20 December 2018 |
| Queensland Consumers Association ( PDF 208.71 KB ) | 20 December 2018 |
Questionnaire responses
The ACCC released a consumer and small business questionnaire on the ACCC Consultation Hub on 2 October 2018 seeking views from consumers and small businesses about their use of foreign currency conversion services. The ACCC received 147 responses. Responses have had personal details removed, but we have otherwise presented questionnaire responses in full.
Responses have been collated into the below spreadsheet, or are available individually at: ACCC Consultation hub
| Document title | Published date |
|---|---|
| Consumer and small business questionnaire results ( XLSX 111.98 KB ) | 20 December 2018 |