Skip to main content
Financial Assistance Hub

Statement regarding ACCC and the Banking Code of Practice

27 September 2019

The new Banking Code of Practice, came into operation on 1 July 2019.  

On the 22nd May, the ABA applied for authorisation from the ACCC to further amend the Code by adopting the recommendations from the Royal Commission. These recommendations relate to default fees on farm properties during natural disasters, prevention of informal overdrafts on basic accounts and overdrawn fees.

We welcome the ACCC’s proposed authorisation for these changes. We note the ACCC has raised three further conditions which the ABA will consider in more detail following discussions with members.

ENDS

Contact: Nathalie Samia 0475 741 007

Latest news

1 / 3
Media Releases
Banks welcome APRA commitments to support more competition in Australia’s banking system
24 July 2025

The ABA welcomes APRA’s commitment to boosting competition for Australia’s mid-tier and international banks. In a speech today to the ABA’s Banking 2025 Conference, Chair John Lonsdale announced that APRA would: ABA CEO Anna Bligh said it was customers who would ultimately benefit from a strong and competitive banking system. “Today’s announcements from APRA will… Read more »

Read more
Media Releases
Mobile wallet payments soar amid digital banking boom
24 July 2025

Australians made a staggering $160 billion worth of payments with their mobile wallets last year, as they continue to embrace the ease and convenience of digital banking. The Australian Banking Association’s 2025 ‘Bank on It’ report released today reveals digital payments continue to surge with over four billion mobile wallet transactions made in the past… Read more »

Read more
Transcript
Anna Bligh interview with ABC Sydney Drive on mule accounts
23 July 2025

eo&e Chris Bath (Host): Now, I had no idea this is a thing. Australians are renting or selling their bank accounts so crooks can cash in. It’s called being a money mule. Anna Bligh is the CEO of the Australian Banking Association, and she’s here to tell you all about it. Anna, thank you very… Read more »

Read more