New disclosure rules, introduced last week by the Australian Communications and Media Authority (ACMA), will make the comparison of mobile, home phone and broadband plans simpler for consumers to understand.
Telcos are now required to provide you with a two-page ‘critical information summary’ which clearly shows the value of any contract and the monthly charges incurred.
The most important changes are to do with mobile phone contracts, with telcos now required to outline the following:
- Minimum length of contract
- Cost of contract
- Early exit fees
- Cost per call
- Cost per text
- Cost for services not included in monthly fee (International or video calls etc)
These new rules mark the second phase of new consumer-friendly rules introduced by the ACMA with the next phase expected in September to focus on mandatory usage limit notifications.