Banking Code of Practice
The new Banking Code of Practice is a set of enforceable standards for all Australian banks to improve banking services for customers, small businesses and their guarantors.
This new code is the strongest ever. It is clearer, easier to understand, and has greater protections for all customers.
In signing this important document, Virgin Money Australia has made a commitment to you, our customers, to behave ethically and fairly, to uphold responsible lending practices and to prioritise the protection of your privacy.
We commit to make it easier to bank with Virgin Money Australia, and to take extra care with customers who are experiencing vulnerability.
Maintain the code
The Banking Code Compliance Committee (BCCC) is the regulator tasked with monitoring and driving best practice in compliance with the Banking Code of Practice.
To do this, the BCCC will:
- Examine banks’ practices
- Identify current and emerging industry wide problems
- Recommend improvements to bank practices
- Consult and keep stakeholders and the public informed.
If you believe that ME has broken one or more of our promises in the code, you can report the issue to the BCCC.