Bank not obliged to disclose information about another customer

Categories:
Retaining personal information,
Summary:
Stevie was the chair of her building's body corporate. The body corporate's funds were managed by a property management company that had its accounts with the bank. In 2023, the body corporate began to find the property management company was behaving unco-operatively and acting inappropriately, and it initiated court proceedings against the company. Stevie approached the company’s bank seeking information about the body corporate’s accounts so she could see how the company was spending the body corporate's funds.
Published:
January 2025

The bank refused to provide any information about what it said was another customer’s accounts. Stevie then asked the bank what document she would need to provide to obtain this information. The bank responded that no document could be obtained to force the release of this information, and she should instead discuss the matter with the body corporate's lawyers. Dissatisfied with this response, she asked us to investigate.

Our investigation

We found the bank’s response to Stevie’s request for information to be reasonable. It was not obliged to give her information about another account holder, and it was reasonable to suggest she seek legal advice. We also considered the bank’s offer of $300 to compensate for delays in responding to her concerns to be fair and reasonable.

Outcome

We did not uphold Stevie’s complaint, and she did not accept the bank's offer of $300.

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