Banking Code of Practice
From 1 March 2020, the new Australian Banking Association Banking Code of Practice (Code) will apply to certain products offered by Virgin Money (Australia) Pty Limited ABN 75 103 478 897 as the authorised representative and credit representative of Bank of Queensland Limited ABN 32 009 656 740, Australian Credit Licence/AFSL 244 616.
The Code applies to individuals, small business customers and their guarantors and regulates how we communicate with our customers and handle customer complaints. The Code sets minimum standards of disclosure regarding our products and services and our obligations to assist customers experiencing financial hardship or other personal circumstances impacting their financial position.
Compliance with the Code is monitored by the Banking Code Compliance Committee (BCCC), an independent organisation whose role is to ensure subscribing banks are honouring their commitments to customers as set out in the Code.
To ensure compliance with the Code, we have updated our terms and conditions for certain products. The updated documents effective from 1 March 2020, can be found below: