Banking Code of Practice
Bank Australia is a member of the Australian Banking Association, which represents the Australian banking industry. As a member of the ABA, we subscribe to the Banking Code of Practice, which will take effect on 1 July 2019.
The ABA Code sets out a range of ethical and customer focused standards and behaviours that protect and serve individual and small businesses customers, and their guarantors as defined by the code.. These are underpinned by four core principles:
- Trust and confidence
- Transparency and accountability
Further information about the Banking Code of Practice is available at the Australian Banking Association website.
The Code Compliance Monitoring Committee monitors compliance with the Banking Code of Practice.
The power of cooperatives
Australia's customer owned banks, credit unions and mutual building societies provide banking and other financial services to 4.5 million Australians and are highly regulated, safe and secure financial institutions with total assets of more than $77.5 billion.
We support the Customer Owned Banking Code of Practice, a set of ethical standards for customer owned banks, credit unions and mutual building societies which focus on customer benefits, community involvement, fairer fees and quality service.
Bank Australia proudly supports the 10 Key Promises in the COBA Code of Practice:
- We will be fair and ethical in our dealings with you.
- We will focus on our customers.
- We will give you clear information about our products and services.
- We will be responsible lenders.
- We will deliver high customer service and standards.
- We will deal fairly with any complaints.
- We will recognise customers' rights as owners.
- We will comply with our legal and industry obligations.
- We will recognise our impact on the wider community.
- We will support and promote the Customer Owned Banking Code of Practice.