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Banking Code of Practice

Current 2013 Code of Banking Practice

The Code of Banking Practice is the banking industry's customer charter on best banking practice standards. A copy of the current Code, which was finalised in 2013, is available here.

New 2019 Banking Code of Practice


The new Banking Code of Practice is available here. Each bank that has adopted the Code will comply by 1 July 2019.

The new Code will introduce a range of new measures to make banking products easier to understand and more customer focussed.  

It represents a stronger commitment to ethical behaviour, responsible lending, greater financial protection and increased transparency.

Banks value their customers and the new Code is a big step towards providing better banking for all Australians. 

Customers will see real tangible benefits, including more information about changes to their accounts, delay in offering on add-on insurance products and simpler contracts, with fewer conditions for small business loans.  

The Code sets out the banking industry's key commitments and obligations to customers on standards of practice, disclosure and principles of conduct for their banking services. The Code applies to personal and small business bank customers.

More information about the benefits of the new Code is available here.

Independent review of the 2013 Code

An independent review of the existing Code of Banking Practice began in July 2016 by Phil Khoury, Managing Director of Cameron Ralph Pty Ltd.

In February 2017 Mr Khoury presented his final report to the ABA with 99 recommendations. More information and a copy of the report is available here.

The review of the Code is part of major industry initiatives announced in April 2016 to raise banking standards. For more information see the ABA media release.

Breach of the Code of Banking Practice

An independent compliance monitoring body, the Code Compliance Monitoring Committee (CCMC) investigates possible breaches of the Code. Anyone can refer a possible breach of the Code to this committee. For more information visit the CCMC website. A customer can also refer an allegation of the breach of the Code to the bank’s external dispute resolution scheme, the Australian Financial Complaints Authority, if the customer has suffered a loss and is not satisfied with the bank’s internal dispute resolution.

The CCMC Mandate 2013 is a public document that sets out the role, functions and powers of the CCMC for monitoring subscribing banks’ compliance with the Code, including undertaking investigations and own motion inquiries. The Mandate replaces the “Constitution of the Code Compliance Monitoring Committee Association”.

Clause 36 of the 2013 Code and the CCMC Mandate is in force from 1 February 2013.

Although the Code and the Mandate are separate instruments they are contained in a single document to make it easier to read both. The information contained in the Mandate will assist consumers better understand the role of the CCMC.

Banks that have subscribed to the current 2013 Code

The list of banks that have subscribed to the current Code is available here.

Previous versions of the Code

Code of Banking Practice (modified May 2004)
Code of Banking Practice (August 2003)
Code of Banking Practice (1993)

What’s new

A sensible path forward for Open Banking
10 May 2018
Open Banking will allow customers, at their request, to share their personal information with other financial institutions to allow them to find a better deal on expenses such as electricity bills, telecommunications and other items.
Download PDF

ABA blog

Listening to Regional Australia
Anna Bligh, ABA CEO, Australian Banking Association
Read more 22 Jan 2019

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