Dear Customers:

Please be advised that effective from 1st October 2020, Bank of China (Australia) Limited will join Open Banking and start to provide developer API for product details.

Please refer to the file attached for introduction of Open Banking and products involved for first phase.

If you have any queries regarding this notice, please send us an email at cdr.au@bankofchina.com.

Bank of China (Australia) Limited
ABN 28 110 077 622 AFSL 287322
30 September 2020

Attachment:

• Open Banking Introduction Notice

What is Open Banking?
On 26 November 2017, the Australian Government announced the introduction of a Consumer Data Right (CDR) legislation in Australia. The CDR will give consumers greater access to and control over their data, to get a better products or services by empowering consumers’ ability to share their data to the trusted recipients only with their authorisation.
On 9 May 2018, the Australian Government agreed on the review of CDR and determined to implement on the financial sector first as the Open Banking. The rollout of the Open Banking data sharing will be in 3 phases as follow:
Phase 1: Credit and Debit cards, deposit and transaction accounts data will be available.
Phase 2: Mortgage and personal loan data will be available.
Phase 3: Business finance, investment loan account, line of credit, overdraft account, asset finance, cash management account and all other remaining accounts data will be available.
For more detail information about CDR, please refer to www.cdr.gov.au/what-is-cdr

Benefit of Open Banking
Open Banking gives you the power of control on your data and allows you to have a better access to your data. You can do a comparison when you select the right financial products that suit your needs.

Phase 1 Product reference data sharing
The Customer Data Right – Open Banking regime applies to Bank of China (Australia) Limited (BOC, we, us, our) – it does not apply to Bank of China Limited, Sydney Branch. On the 1 October 2020, BOC product data is available for access via application programming interfaces (API). Developer can use the API provided below to obtain our current product details.
Our Product API will cover following products:

• Saving Accounts
• Transaction Accounts
• Term Deposits
• Credit Cards
• Debit Cards

Product details including features eligibility, rates and fees may change from time to time without notice.

BOC Open Banking developer APIs
We have developed our Product APIs accordance with the Consumer Data Standards Australia.
These are public APIs and do not require any authentication from consumers.
Product API URL: https://ob.bankofchina.com.au/cds-au/v1/banking/products
Product Details API URL: https://ob.bankofchina.com.au/cds-au/v1/banking/products/{productId}
If you need help with our APIs, please send us an email on cdr.au@bankofchina.com

Consumer Data Right（CDR）Policy
Our Customer Data Right Policy (The CDR Policy) describes how we manage your CDR data and describes how you can access and correct your CDR data, or make a complaint (if needed) as set out in the will provides the explanation of how BOC will manages your data under CDR legislation. For more detail information, please refer to "Consumer Data Right Policy".
If you want to know more about how we handle your information at Bank of China, including how we manage your personal information under applicable privacy laws, please refer to "Privacy Policy and Credit Reporting Policy".