This document is very decpeptive and misleading in parts and raises some very serious questions on proper operational code . Companies have to comply with specific disclosure requirements and Supperannuation funds must ENSURE the imformation is not presented in a deceptive or manipulative manner as to mislead or decieve members about the particular fees and charges that may apply . Executing a transcation or automatic fee deduction on behalf of the customer without written authorization and a clear and mutual understanding of the contract is a clear breach of The Consumer Code and if this is proven to be correct then subsequent disciplinary measures should be taken against the Company .
This is a form of affirmative action on behalf of BT and perhaps others such as IOOF . I would be contacting the office and requesting a fee disclosure record and balance this against my original transactions just to ensure they are operating on an open and transparent lv .
BT has used its Discretionary power in influencing or effecting a transaction ( automatic fee deduction ) for a customers account without first obtaining written discretionary authority from the customer . There have been numerous documented complaints where Clients of BT have returned the forms and ticked NO and have still been charged despite their non agreement .
This behaviour is pedestrian at best . I wonder what ASIC are doing and whether these improperly acquired fees will be returned to their unsuspecting Fund holders . I doubt it
