Mackay Chapman August 2026 ACCC Update

In this month’s ACCC update:

• Banks required to expand access to low and no-fee accounts;
• Court dismisses case against Magnamail;
• Super funds may share information to combat financial and cyber crime;
• Origin Energy to refund customers over electricity plan claims; and
• Google and Epic Games settlement terms considered for authorisation.

Banks required to expand access to low and no-fee accounts

The ACCC has authorised Australian Banking Association member banks to continue working together to provide low and no-fee accounts to eligible customers, with new conditions designed to increase access.

Banks will need to offer eligible new customers information about lower-cost accounts and take reasonable steps each year to identify existing customers who may qualify. Eligible customers must also be moved to an appropriate account unless they choose to opt out.

The changes follow after research found that more than 150,000 low-income customers remained in higher-fee accounts despite qualifying for cheaper alternatives, collectively paying $6 million in fees over 12 months.

The authorisation also allows banks to continue suspending default interest on agricultural loans for farmers affected by droughts and natural disasters. It will remain in place for five years, with participating banks required to report to the ACCC annually.

Court dismisses case against Magnamail

The Federal Court has dismissed the ACCC’s case against mail order retailer Magnamail over prize promotions sent to hundreds of thousands of consumers.

The ACCC had alleged that promotional materials used between May 2022 and July 2023 gave consumers the impression that placing a catalogue order made them eligible to claim major prizes, including cash prizes of up to $25,000. The relevant prize draws had already taken place before the materials were received.

The Court found that the promotions did not make the false or misleading representations alleged by the ACCC. Its case against Magnamail’s parent company, Direct Group, was also dismissed.

Super funds may share information to combat financial and cyber crime

The ACCC is proposing to allow superannuation industry participants to work together and exchange information to help identify and respond to cyber and financial crime.

Under the draft determination, the Association of Superannuation Funds of Australia and specified participants would be able to collectively negotiate and share information through platforms established to address these threats.

The proposed authorisation would apply for five years and include a condition on the arrangements. Feedback is sought from the ACCC before making its final decision, with submissions due by 10 August 2026.

Origin Energy to refund customers over electricity plan claims

Origin Energy will refund more than $270,000 to over 4,500 customers following an ACCC investigation into claims made about its Ongoing Saver electricity plan.

The ACCC was concerned that the plan’s terms and customer bills suggested customers would pay less than under Origin’s Basic plan for as long as they remained on Ongoing Saver. Some customers were instead charged more than they would have paid on the Basic plan.

Affected customers will receive around $60 on average through refunds or account credits. Origin has also agreed to discontinue the Ongoing Saver plan and avoid using plan names that imply savings or monetary value unless those savings are built into the product.

Origin has not admitted breaching the Australian Consumer Law. Given the refunds and other changes made by the company, the ACCC has decided not to take further enforcement action.

Google and Epic Games settlement terms considered for authorisation

The ACCC has issued a draft determination proposing to authorise certain terms of a settlement between Google and Epic Games relating to their ongoing Australian litigation.

The relevant terms relate to service fees that Google may charge to developers through Google Play, as well as how alternative payment options to ‘Google Play Billing’ can be displayed and used.

The ACCC is proposing to authorise the arrangements until 30 September 2032.

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The contents of this update do not constitute legal advice, are not intended to be a substitute for legal advice, and should not be relied upon as such. They are designed and intended as general information in summary form, current at publication, for general informational purposes only. You should seek legal or other professional advice concerning any particular legal matters you or your organisation may have.

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