The new Banking Code of Practice sets a new standard of customer service for Australia’s banks.
The new Code is part of a significant reform agenda to improve banking services to better meet community standards and expectations. Australians, along with businesses large and small, entrust their financial security and wellbeing to one or more of the banks who are signatory to this Code.
In signing this important document, these banks make a commitment to you, their customers, to ethical behaviour, to fair and responsible lending practices and to the protection of your privacy.
In a world where technology is rapidly changing the banking experience, making it more convenient, more mobile and more transparent than ever before, strong, ethical banks remains critical to customer trust and confidence.
With this new Banking Code of Practice, banks take on a stronger responsibility to deliver on that expectation.
In addition to a community and industry wide expectation, the high standards of behaviour and service set out in this Code are enforceable rights for customers.
In an Australian first, this new Banking Code of Practice has been considered and approved by the Australian Securities and Investments Commission under their industry code approval powers.
The Banking Code Compliance Committee (BCCC) is an independent body that has been established to monitor all Australian banks' compliance with this Code.
ABAL acknowledges its responsibility to serve our customers in a fair, reasonable and ethical manner. We have accordingly implemented a Statement of Ethics, under the guidance of the Banking Code of Practice and in line with our responsibilities as a Bank.