$150.00

Banking Code of Practice

Course preview

At a glance

Course length:
15-20 minutes online

Regulation/Law:
Banking Code of Practice

Course audience:
All personnel who work in the banking industry

Region:
Available in Australia

Course type:
Accelerated Multi-Device LearningiThis course type is designed for learners with prior knowledge, giving learners more ability to self-direct how they engage with the full course content. Using scenarios with voice-overs, tests within the course, and a ‘Learn More’ option, learners can engage the course on any smartphone, tablet, or PC..

About this course

The Banking Code of Practice sets out the standards of practice and service in the Australian Banking Industry for individual and small business customers and their guarantors. The code provides safeguards and protections not set out in the law, rather it complements the law and sets higher standards than legislation.

The code applies to individuals, small businesses and guarantors who provide a banking service or information. Small businesses are businesses with:

  • An annual turnover of less than $10 million in the previous financial year;
  • Less than 100 full-time (or equivalent employees); or
  • Less than $3 million total debt to all credit providers.

Safetrac’s ‘Banking Code of Practice’ course ensures that staff are trained on the information provided in the code which has taken effect from the 1st of July 2019. It is a condition of membership of the Australian Banking Association (ABA) that member banks with a retail presence in Australia are required to sign up to the Code.

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Learning outcomes

On completing this course, learners should:

  • be able to apply the Code of Practice;
  • understand the standards of practice and service in the Australian banking industry for individual and small business customers and their guarantors;
  • have comprehensive knowledge of the new code, which took effect from the 1 July 2019;
  • understand the statement of guiding principles which provides an ethical, customer-oriented and sustainable framework; and
  • understand good decision-making when performing work and serving customers.

Course contents

  • Introduction to the Code
  • Statement of Guiding Principles
  • How the Code works
  • Our customer’s banking relationship
  • Using our banking services
  • Inclusive and accessible banking
  • When a customer applies for a loan
  • Lending to a small business
  • Guaranteeing a loan
  • Managing the customer’s account
  • Customers experiencing financial difficulty
  • Resolving a customer’s complaint
  • Code monitoring, complaints and sanctions

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