Banking Code of Practice 2025
ABA member banks bound by the Banking Code — fair conduct + dispute resolution requirements.
Who must comply
All ABA members + any bank that voluntarily subscribes.
What triggers it
Bank-customer relationship establishment.
When due
Continuous compliance + annual self-assessment.
Evidence required
Internal compliance framework + BCCC reporting + customer remediation.
Max penalty
—
Effective from
28 February 2025
Summary
Banking Code of Practice 2025 (in force 28 February 2025). Replaces 2021 Code. Customer-owned banks have their own Code. AFCA enforces Code commitments alongside ASIC + ABA Banking Code Compliance Committee (BCCC).
Enforced by
Topics
Related obligations
- CWLTHGeneral Insurance Code of Practice 2020ICA member insurers bound by service standards + claims handling timeframes.
- CWLTHLife Insurance Code of Practice 2.0FSC member life insurers bound by Code 2.0 (commenced 1 July 2023).
- CWLTHBanking Executive Accountability Regime (BEAR) — pre-FARBEAR superseded by FAR for banks 15 March 2024; historical exposure remains.
Frequently asked questions
- Who must comply with Banking Code of Practice 2025?
- All ABA members + any bank that voluntarily subscribes.
- What triggers Banking Code of Practice 2025?
- Bank-customer relationship establishment.
- When is Banking Code of Practice 2025 due?
- Continuous compliance + annual self-assessment.
- What evidence is required for Banking Code of Practice 2025?
- Internal compliance framework + BCCC reporting + customer remediation.
Source: https://www.ausbanking.org.au/banking-code/. Rules Mate is not a law firm. Always verify against the live regulator source before acting.