Code of Banking Practice

What you can expect from your bank

This Code sets out the good banking practices we'll follow

We want a positive relationship with you. By working together, we can help you to have a good banking experience.

To achieve that goal, this Code of Banking Practice sets out the principles of good banking practice. We agree to follow good banking practices as a minimum standard in our relationship with you.

In this Code, 'we', 'us', and 'our' means your bank and 'you' and 'your' means you, the customer.

How the Code relates to bank terms and conditions

This Code doesn't form part of the terms and conditions of your relationship with us. How we deal with you depends on the accounts, products, and services you have. 

You should refer to the terms and conditions of the contracts you entered with us for details on our obligations to you and your obligations to us. This Code doesn't override or replace those terms and conditions. It also doesn't form part of any contracts with us. 

The Code doesn't apply to wholesale customers 

If you're a wholesale customer, this Code won't apply to your banking relationship with us. 'Wholesale customers' has the same meaning as 'wholesale clients' in the Financial Advisers Act 2008, and includes large organisations. 

Talk to us or the Banking Ombudsman if you have any problems

Later in this Code we set out what you can do if you're not happy with anything we've done, including how to complain to us or the Banking Ombudsman.

When looking into a complaint, the Banking Ombudsman refers to this Code's principles, the law, and the contracts you've entered with us. When needed, the Banking Ombudsman also consults the industry. 

This Code is set by the banking industry

Member banks of the New Zealand Bankers' Association prepared this Code - consulting the public, other industry participants, and the Banking Ombudsman. 

We'll cooperate with other industry participants, where necessary, to achieve this Code's principles, including if you change banks.

Where to find more information

The Banking Ombudsman provides quick guides with practical information for bank customers on many banking issues. You can find these quick guides at bankomb.org.nz.

You can also find this Code on our website or the New Zealand Bankers' Association's website, nzba.org.nz, or ask at any branch.

 


What you can expect from us

When you deal with us, we will do these things.

  • Treat you fairly and reasonably.
  • Communicate with you clearly and effectively.
  • Respect your privacy and confidentiality and keep our banking systems secure.
  • Act responsibly if we offer or provide you with credit.
  • Deal effectively with your concerns and complaints. 

We explain these principles in more detail below. We also include some things you can do to help you have a good banking experience.

 


 

We will treat you fairly and reasonably

What we will do for you

We'll act fairly, reasonably, and in good faith, in a consistent and ethical way.

What's fair and reasonable depends on the circumstances, including our conduct and yours, and our terms and conditions, the law, and good banking practice.

We'll ensure our staff are aware of this Code, and relevant staff know how to comply with our responsibilities to you.

We'll do our best to meet the needs of all our customers. 

We'll also follow the New Zealand Bankers' Association guidelines, available at nzba.org.nz, to help us meet the needs of older and disabled customers. 
If you seek independent legal or other professional advice about the accounts, products, and services we provide, we'll cooperate with your advisers.

 


 

We will communicate with you clearly and effectively

What we will do for you

We will communicate with you clearly and effectively.

We'll give you information about the accounts, products, and services that we provide you with, and how to access them. 

We'll respond to your questions and requests quickly. 
We'll make information about us and our accounts, products, and services readily available and in plain language. 

We'll comply with laws about how we give you information, including about our fees. 

How you can help us

We want to help, so please ask if you have any questions or don't understand any information we give you. 

And if your contact details change, remember to let us know.

 


 

We will respect your privacy and confidentiality and keep our banking systems secure

What we will do for you

We'll respect your privacy and keep your information confidential. And we'll keep your information and the ways you bank with us secure. 

We'll also let you know how to report a problem about the security of your banking, including our electronic banking systems. 

If you're a victim of fraud where someone accessed and used your electronic banking or your card without your authority, talk to us immediately. We'll look at how we can help. 

We'll reimburse any of those fraud losses if you:

  • weren't dishonest or negligent
  • complied with our terms and conditions for electronic banking or card use, and
  • took reasonable steps to protect your banking. 

See our terms and conditions for details. 

How you can help us

It's important to keep your banking safe and secure. 

Please follow any security requirements in our terms and conditions or on our website and regularly check your accounts. And if your name or contact details change, remember to let us know.  

Keep information about you and your accounts safe and your computer, mobile phone, and other devices secure. 

Be a little suspicious - avoid clicking email links or downloading unknown software as it could be a scam. 

Please don't let anyone else use or see your PIN or password while you're doing your banking. Banks never ask you for your PIN or password.

 


 

We will act responsibly if we offer or provide you with credit

What we will do for you

We will act responsibly if we offer or lend you money or credit, complying with all relevant laws.

We will only give you credit if we are satisfied that you are likely to make repayments without substantial hardship.

How you can help us

Please provide us with accurate and complete information to help us assess your credit application. 

If you're worried you may not be able to make your repayments, please contact us so we can consider your situation. The sooner you contact us, the easier it may be for us to help you.

 


 

We will deal effectively with your concerns and complaints

You can make a complaint through our internal complaints process

We want you to have a good banking experience. If you're not happy with anything we've done, please let us know. We'll try to put it right, quickly and fairly. 

We'll make information about our free complaints process easily available, including on our website.

If you do make a complaint, we'll:

  • let you know that we've received it within five working days 
  • keep you up-to-date with progress, if it's something we can't resolve for you immediately, and 
  • consider your complaint fairly - letting you know the result within a reasonable time.

You can also contact the Banking Ombudsman

The Banking Ombudsman provides a free and independent service that helps people with unresolved problems they have with their banks.

Generally, the Banking Ombudsman can only look into your concerns once we've had a chance to review and respond to a complaint or concern you've raised. So, if you're not happy with our response, we'll let you know that you can contact the Banking Ombudsman. 

The Banking Ombudsman can consider most complaints. See the Banking Ombudsman's website, bankomb.org.nz, for more information. 

The Banking Ombudsman may also refer some complaints to other organisations, like the Insurance and Financial Services Ombudsman, the Privacy Commissioner, or the Human Rights Commissioner.

How to contact the Banking Ombudsman

You can contact the Banking Ombudsman from their website, bankomb.org.nz. Or write to Freepost 218002, PO Box 25327, Featherston Street, Wellington 6146, email help@bankomb.org.nz, or call 0800 805 950.

Our complaints processes are available to guarantors

Our internal complaints process and the Banking Ombudsman's service are also available to people who provide us with a guarantee or other security for your loan.