The Banking Code of Practice is a set of promises outlining how a bank should conduct itself in its dealings with customers, as well as specific requirements for banking services.

The Code is owned and published by the Australian Banking Association and forms an important part of the broader financial services consumer protection framework.

Banks can choose to sign up to the Code. When they do, they are promising to meet the Code’s standards of good banking practice.

Banking Code of Practice [PDF]

What does the Code cover?

The Banking Code of Practice contains a range of obligations to customers and potential customers, including obligations related to:

  • account suitability
  • terms and conditions
  • direct debits and chargebacks
  • privacy and confidentiality
  • joint debtors
  • guarantees
  • provision of credit
  • financial difficulty and debt collection
  • dispute resolution

Who subscribes to the Code?

See the register of banks that subscribe to the Banking Code of Practice.

Who monitors the Code?

The Banking Code Compliance Committee (BCCC) independently monitors the Banking Code of Practice to ensure code subscribers are meeting their obligations, and achieving service standards Australians can trust.

The Code Compliance and Monitoring team (Code Team) at the Australian Financial Complaints Authority (AFCA) provides code monitoring, secretariat and administrative services to the Committee. The Code Team is a separately operated and funded business unit of AFCA. Find out more about the Codes of Practice

Report a concern

The BCCC’s role is to ensure banks comply with the Banking Code of Practice. It does not provide compensation. If you are seeking compensation, talk to your financial firm or make a complaint with AFCA.

If you believe a bank may have breached the Banking Code of Practice, you can report your concern by emailing the Code Team or calling 1800 931 678.