If you are a Small Business or an individual and the of the change, unless we are not able to because rules in the National Credit Code about statements of the interest rate is calculated according to a money account do not apply to your Loan or credit account, market or some other external reference rate, or a then we will give you a statement of transactions on rate otherwise designated as a var. [...] We will tell you how to apply for a Loan, including the being a co-borrower and a Guarantor; following: b) have taken into account the reasons why you want a) the information we require; and to be a co-borrower; and b) af ter we have received the information we have c) are satisfied that you are not experiencing financial requested, how long before we are likely to make abuse. [...] If you are a Guarantor for a Loan that we give to another individual or Small Business, and this Code a) about any notice of demand we have made on applies to the Loan, then this part of the Code the borrower for the guaranteed Loan, or any applies to your guarantee and/or indemnity. [...] However, we can accept the guarantee earlier if : the guarantee documents to the borrower, or to a) you or your lawyer conf irm to us that you have someone acting on behalf of the borrower, to received independent legal advice about the arrange for you to sign the guarantee. [...] If you are a Director Guarantor (other than a Sole Guarantor; or Director Guarantor) we will tell you that you have the d) you are a Director Guarantor and you choose to right to receive the documents in paragraphs 103 sign and deliver the guarantee earlier.
Authors
- Pages
- 44
- Published in
- Australia
Table of Contents
- Australia’s banks play an important role in contributing to the prosperity of the nation’s economy, for the benefit of all Australians. 3
- Our customers count on us to provide them with a safe place to deposit money, to offer a wide range of options to access banking and financial services, 3
- and to help businesses start and grow. 3
- We understand that trust is critical to our relationships with customers and that for us to earn that trust, we need to do the right thing. 3
- We acknowledge that our responsibilities to customers, investors, employees and the broader community must be carefully balanced. 3
- Customers, investors, employees and communities expect our behaviour to meet high ethical standards, backed up by the right 3
- internal culture and practices. 3
- We are committed to continuously improving and being accountable. 3
- In fulfilling these responsibilities, we will continue to contribute to the stability, strength and prosperity of Australia’s financial system and society. 3
- To do this, we will look to continually improve our banking services and how we engage with our customers and 3
- communities. 3
- The Banking Code of Practice is one of the ways we strive to achieve these goals. 3
- Introduction 6
- What is the Banking Code of Practice? 6
- Guiding principles 7
- Your rights and how to enforce them 8
- Resolving complaints 8
- Court action 8
- The Banking Code Compliance Committee 8
- Reporting to the BCCC 8
- Resourcing the BCCC 8
- Complying with requests of the BCCC 8
- ABA industry guidelines and protocols 9
- A1 Who the Code applies to and how 11
- A2 Our relationship with you 12
- A3 Communicating with you 12
- B1 Inclusive and accessible banking 16
- B2 Taking extra care with customers who are experiencing vulnerability 16
- B3 Banking Services for people with low or no income 17
- B4 Lending to individuals 18
- B5 Lending to Small Business 19
- B6 Guaranteeing a Loan 23
- B7 Farmers 26
- B8 Deceased estates 28
- C1 Joint Accounts 30
- C2 Direct debit and recurring payment services 30
- C3 Credit and debit cards 30
- C4 Consumer credit insurance (CCI) 31
- D2 Complaints 35
