Bendigo Bank adopts 2004 Code of Banking Practice
Bendigo Bank today announced it would adopt, in full, the revised 2004 Code of Banking Practice for personal and small business customers of the bank.
Managing Director Rob Hunt said the Code incorporates many of the ethics and practices adopted by Bendigo Bank throughout its 147-year history and reflected in the bank’s own Code of Conduct.
“We pride ourselves on our internal code of ethics which stresses our aspiration to always do the right thing by our customers,” Mr Hunt said.
“We are pleased to adopt the new Code in order to formalise the way in which we conduct relationships with our customers and to bring ourselves under the independent monitoring regime incorporated in the Code.”
Mr Hunt said the bank had spent months preparing documentation and procedures to comply with the Code requirements and would adopt the new Code from tomorrow (eds: Friday 1 July).
He said Bendigo Bank had been working under the original 1993 Code of Banking Practice to set standards of good practice for banks’ relationships with their personal customers.
The Revised Code builds on the earlier edition with initiatives including:
- The inclusion of small business.
- Providing prospective guarantors with information before they commit to guaranteeing someone else’s bank debt.
- Providing important information on credit card chargebacks.
- Helping customers wishing to cancel direct debit authorities.
The Code also provides education for customers in day-to-day matters such as just what it means when you cross a cheque,” Mr Hunt said.
“It also makes customers aware of their rights to dispute transactions if they believe something is not right.
“Bendigo Bank is very supportive of the thrust of the Code, which is all about ensuring customers are totally comfortable in their dealings with the bank.”