What you can expect from your bank

The Code of Banking Practice sets out what you can expect from your bank.

The Code contains five principles that set out what banks will do to give their customers a good banking experience. Under the Code banks will:

  • Treat customers fairly and reasonably
  • Communicate with customers clearly and effectively
  • Respect customers’ privacy and confidentiality and keep their banking systems as secure as they can
  • Act responsibly when offering or providing customers with credit
  • Deal effectively with customer concerns and complaints.

The Code is available on bank websites, in bank branches, and at nzba.org.nz.

The Code applies to banks’ relationships with all their customers except wholesale customers.

The Code is used by the Banking Ombudsman, along with bank terms and conditions, and the law, to assess and make recommendations in disputes between banks and their customers.

The Code was developed by the banking industry through the New Zealand Bankers’ Association (NZBA) in consultation with the public, industry stakeholders and the Banking Ombudsman.