The new Banking Code of Practice, which commenced from 1 July 2019, is a set of enforceable standards that customers, small businesses and their guarantors can expect from Australian banks.
Key benefits of the new Banking Code of Practice include:
- Greater protection for customers
- Basic, low or no fee accounts
- Stronger enforcement and compliance
- Easier credit card management
- Easier for small business
For more information, please visit https://www.ausbanking.org.au/campaigns/new-banking-code/