The Australian Communications and Media Authority (ACMA) has developed a factsheet on the recently enacted Financial Hardship Industry Standard, which outlines what assistance is available, eligibility and how to make a complaint should things go wrong.
The Telecommunications (Financial Hardship) Industry Standard 2024 (the Standard) came into effect on 29 March 2024. It requires telecommunications providers to take all reasonable steps to proactively identify customers who may be experiencing financial hardship, ensure they provide appropriate support, and prioritise keeping customers connected.
The Standard replaced the rules on financial hardship that were contained in the Telecommunications Consumer Protections Code, and provides the ACMA with strong enforcement powers to ensure telcos are following through on their obligations.
Practical improvements include:
- Requirements to determine whether a customer is experiencing financial hardship, and if so, prioritising keeping them connected;
- Greater promotion of information to consumers on financial hardship assistance; and
- Telcos being required to offer customers at least six different options for assistance, including payment plans
The safeguards cover goods and services provided by telcos, including mobile phones, mobile services, as well as internet and voice services used by individuals and small businesses.
