− Removed

# Source: https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/code-of-banking-practice.pdf

Banking Code
of Practice 
Setting the standards of practice for
banks, their staff and their representatives 
28 February 2025

Australian Banking Association
Banking Code
of Practice
Setting the standards of practice for banks,
their staff and their representatives
Australian Banking Association
PO Box H218 Australia Square NSW 1215
Telephone 02 8298 0417
Web https://www.ausbanking.org.au/
Banking Code of Practice
Published date 27 June 2024
Effective from 28 February 2025 
2 | ausbanking.org.au

Our role in society
Australia’s banks play an important role in
contributing to the prosperity of the nation’s
economy, for the benefit of all Australians. 
Our customers count on us to provide them
with a safe place to deposit money, to offer a wide range
of options to access banking and financial services,
and to help businesses start and grow.
We understand that trust is critical to our
relationships with customers and that for us to
earn that trust, we need to do the right thing.
We acknowledge that our responsibilities
to customers, investors, employees and the broader
community must be carefully balanced.
Customers, investors, employees and
communities expect our behaviour to meet
high ethical standards, backed up by the right
internal culture and practices.
We are committed to continuously
improving and being accountable.
In fulfilling these responsibilities,
we will continue to contribute
to the stability, strength and
prosperity of Australia’s
financial system and society.
To do this, we will look
to continually improve
our banking services
and how we engage
with our customers and
communities.
The Banking Code
of Practice is one of
the ways we strive to
achieve these goals. 
Banking Code of Practice   | 3

Table of Contents
Introduction   6
What is the Banking Code of Practice?   6
Guiding principles   7
Your rights and how to enforce them   8
Resolving complaints   8
Court action   8
The Banking Code Compliance Committee   8
Reporting to the BCCC   8
Resourcing the BCCC   8
Complying with requests of the BCCC   8
ABA industry guidelines and protocols   9
The Code   10
PART A - Our dealings with you under the code   11
A1 Who the Code applies to and how   11
A2 Our relationship with you   12
A3 Communicating with you   12
PART B – Customers   16
B1 Inclusive and accessible banking   16
B2 Taking extra care with customers who are experiencing vulnerability   16
B3 Banking services for people with low or no income   17
B4 Lending to individuals   18
B5 Lending to Small Business   19
B6 Guaranteeing a Loan   21
B7 Farmers   26
B8 Deceased estates   28
PART C - Banking services   30
C1 Joint Accounts   30
C2 Direct debit and recurring payment services   30
C3 Credit and debit cards   30
C4 Consumer credit insurance (CCI)   31
PART D - When things go wrong   32
D1 Contact us if you are experiencing Financial Difficulty   32
D2 Complaints   35
PART E - Definitions   36 
4 | ausbanking.org.au

The Banking Code of Practice is an important pillar of the financial 
services regulatory framework, setting a high standard of customer
protections for Australians.
It provides customers with safeguards and protections that are not
set out in law.
As subscribers to the Code, ABA member banks remain committed
to meeting a higher standard of customer protections for Australians.
This latest update of the Code is the culmination of an extensive
review and has been developed in consultation with consumer
representatives, small business organisations and regulators.
The review has resulted in significant uplift of Banking Code 
provisions and includes additional protections for small business
customers, guarantors, vulnerable customers and customers
requiring additional support.
This updated Code has again been approved by the Australian
Securities and Investment Commission (ASIC).
I look forward to the Banking Code of Practice continuing to improve
the banking experience for all customers. 
Anna Bligh
CEO, Australian Banking Association
Foreword by ABA CEO Anna Bligh 
Banking Code of Practice   | 5

Introduction
What is the Banking Code
of Practice?
The Banking Code of Practice (the Code) sets out
standards of practice and service in the Australian banking
industry for individual and small business customers, and
their guarantors.
The overall objective of the Code is to provide customers
with safeguards and protections not set out in the law.
The Code is intended to complement the law and,
in some areas, set higher standards than the law.
The Code was first introduced in 1993. Since then,
it has undergone multiple improvements,
responding to emerging issues and the changing
needs of our customers, to ensure it remains
relevant. Over time, many of the standards
embedded in the Code have been included
This version of the Code has been developed
in close consultation with key stakeholders
including consumer groups, government,
regulators and the banking industry. By
promoting best practice, the Code has
led to higher standards in the banking
and financial services industry.
It replaces the previous version
dated 5 October 2021. 
in the law. 
6 | ausbanking.org.au

Guiding principles
The Code is underpinned by these guiding principles shared by all member banks.
1. Trust and confidence 
a) We are committed to earning and retaining the
trust of our customers and the community.
b) We are committed to making promises and
keeping them to deliver good customer and
community outcomes.
c) We will comply with all laws relating to
banking services.
d) We will protect your privacy.
e) We recognise our role in society and our
impact on the wider community.
3. Service
a) We will deliver high customer service
and standards.
b) We will ensure banking services are
accessible and inclusive.
c) We will raise awareness of the basic
(low, or no fee) banking products that
we may offer.
d) We will work to help you if you are
experiencing financial difficulty. 
2.   Integrity 
a)   We will act honestly and with integrity. 
b)   We will be fair and responsible in our
dealings with you. 
c)   We will build and sustain a culture based on
strong ethical foundations. 
4.   Transparency and
accountability 
a)   We will communicate with you in
a clear and timely manner. 
b)   We will be accountable in our
dealings with you. 
c)   We will be transparent in our
communications with you. 
Banking Code of Practice   | 7

Your rights and how
to enforce them
The Code is part of a range of customer and guarantor
protections, including those under Australian law. The
types of protections that apply to you depend on what
type of customer or guarantor you are, and what type
of banking service you have. You are able to hold us to
these commitments in a variety of ways including, but not
limited to:
Resolving complaints
Internal Dispute Resolution (IDR)
If you have a complaint about a banking service we have
provided to you or think we have not met our obligations
to you under the Code, contact us in the first instance. 
We will try to resolve your complaint through our
IDR service.
Australian Financial Complaints Authority (AFCA)
If you are not satisfied with our response, you can make 
a complaint to AFCA if your complaint fits within their 
rules. We are bound to cooperate with AFCA in dealing
with your complaint. AFCA decisions are binding on us.
Lodging a complaint through our IDR service or AFCA is
free of charge.
Court action
You may also be able to bring a court action to enforce
your rights. You may wish to seek independent legal
advice about this. However, you may wish to first attempt 
resolving your complaint via IDR or AFCA as these
options are free and easy to access.
The Banking Code
Compliance Committee
We have established an independent Code monitoring
body, the Banking Code Compliance Committee (BCCC)
to monitor our compliance with the Code. Further details
on the BCCC’s role in Code monitoring, compliance,
complaints, powers and sanctions can be found in
the BCCC Charter bankingcode.org.au/about/the-
committee/our-charter.
Reporting to the BCCC
As part of its role, the BCCC collects information about
potential Code breaches, particularly issues that may
be serious or systemic in nature. If you think we have
breached a Code obligation you can report this to the
BCCC: bankingcode.org.au/customers/
when-a-bank-breaches-the-code.
The BCCC is not a complaints resolution body and does
not have a role in addressing and remediating individual
requests or complaints. There are other mechanisms in
place for this, set out in the section above.
Resourcing the BCCC
The ABA will ensure that the BCCC has sufficient
resources and funding to carry out its functions.
Complying with requests of the
BCCC
We will co-operate and comply with all reasonable
requests of the BCCC in the performance of its
monitoring and investigative activities.
For more information on the BCCC visit
bankingcode.org.au 
8 | ausbanking.org.au

ABA industry guidelines
and protocols
The ABA publishes and maintains industry guidelines
and protocols on some Code related matters. These may
assist industry in understanding or interpreting aspects of
the Banking Code.
The guidelines are intended to promote good practice
and may assist members to trial new approaches to
support customers. They can serve as a flexible tool
for the ABA and its members to respond to emerging
matters quickly, whether by drafting a new Industry
Guideline or amending an existing Industry Guideline.
Unless expressly stated otherwise in the Code, these
industry guidelines and protocols do not form part of
the Code.
ABA industry guidelines and protocols can be found at:
www.ausbanking.org.au/resources. 
Banking Code of Practice   | 9

This page and the following pages of this
document form the Code. Where the Code
makes reference to obligations under the law
or regulatory guides, the obligations referred to
are not incorporated into the Code or as terms
of your contract unless expressly stated. Those
obligations may be enforceable separately
under relevant legislation. The introduction,
including the guiding principles, also does not
form part of the Code.
We will promote the Code and make sure that
copies of the Code are available and accessible.
We will arrange for the Code to be
independently reviewed at intervals of no
more than 5 years after completion of the
previous review. Any independent review will
involve consultation with the public, including
consumer representatives, Small Business
organisations and other stakeholders.
The Code   The ABA and its member banks may also arrange for
the Code to be:
•   independently reviewed sooner, as necessary; or
•   reviewed and amended to respond to emerging
requirements, as necessary.
It is a condition of ABA membership that member banks
with a retail presence in Australia sign up to the Code.
Banks that have adopted the Code are listed on the
ABA website: www.ausbanking.org.au/banking-code 
10 | ausbanking.org.au

PART A
Our Dealings
with you under
the code
A1 Who the Code applies to and how
Who the Code applies to
1.   The Code applies to you if, at the time we provide the
Banking Service or information, you are:
a) our customer or a prospective customer, and you
are either:
i. an individual, who is not treated as a Business
under the Code;
ii. a Small Business; or
b) an individual who is a Guarantor, or a prospective
Guarantor, of a customer or prospective customer
referred to in subparagraph (a) above.
The Code forms part of our Banking Services
and guarantees
2.   Our written Terms and Conditions for all Banking
Services and guarantees to which the Code applies
will include a statement to the effect that the relevant
provisions of the Code apply to that Banking Service or
guarantee.
3.   The Terms and Conditions referred to above need not
set out those provisions. 
Banking Code of Practice   | 11

A2 Our relationship with you
How we will comply with the Code
4.   If the Code imposes an obligation on us that is in
addition to obligations applying under a relevant
law, then we will comply with the Code unless doing
so would lead us to breach the law, or relevant
regulatory obligation or guidance.
5.   We will do all things necessary to ensure that
Banking Services provided by us under the Code
are provided efficiently, honestly and fairly. This is 
the same standard of behaviour that applies to us
where applicable under section 912A(1)(a) of the 
Corporations Act   and section 47(1)(a) of the   National
Consumer Credit Protection Act .
BCCC Charter
6.   We are bound by our obligations in the BCCC
Charter, including but not limited to those referred
to in the Introduction.
Trained and competent staff
7.   We will make sure that our staff and our
representatives are trained so that they:
a) can competently do their work;
b) understand the Code and how to comply with it
when they are providing Banking Services to you; and
c) treat our diverse customers, vulnerable customers
and customers who appear to be vulnerable with
sensitivity, respect and compassion.
Customer Advocate
8.   We will have a Customer Advocate in our bank to
help facilitate fair customer outcomes and minimise
the likelihood of future problems. The Australian
Banking Association’s guiding principles for
Customer Advocates are available at:
www.ausbanking.org.au/resources.
Branch Closure Support Protocol
9.   We will comply with the ABA Branch Closure Support
Protocol when closing a branch. The protocol
outlines certain commitments to individuals and
Small Businesses in the event of a branch closure.
This protocol is available at:
www.ausbanking.org.au/resources.
A3 Communicating with you
Responding to your request for information
10. We will communicate with you in a timely manner,
and we will give you information that is useful and
clear. This includes information about our products
and services so you can make an informed decision
about which product or service is suitable for you.
11. If you ask us for advice on any of our Banking
Services, then we will provide it to you through
staff who are authorised and trained to give you
that advice. Alternatively, we may suggest you see
someone else who can provide independent advice,
such as a lawyer, accountant, financial adviser or
financial counsellor.
How we will communicate with you
12. Anything that we are required to give to you under
this Code may be given to you:
a) in person, writing, electronically, by telephone or
video conference;
b) by telling you that the information is available on a
website or other electronic forum; or
c) as otherwise agreed with you.
However, if this Code specifies the method of
communication, then we will comply with that
method.
13. Where this Code requires us to communicate
in writing, we may do so through electronic
communications or printed communications.
What information we will give you 
Terms and Conditions, Fees and Charges 
14. If you are entering into a contract for a Banking
Service with us, then we will give you the contract
Terms and Conditions before, or when, the contract
is made. The contract Terms and Conditions may be
in separate documents.
15. The documents in paragraph 14 will clearly set out:
a) details of fees and charges, their amounts (if
ascertainable), and how often they are debited;
b) any interest rate that applies, how and when
different interest rates may apply, the method by
which interest is calculated, and when interest will
be credited or debited; 
12 | ausbanking.org.au

c) how often we give you statements of account;
d) how we may change fees, charges, interest or
other Terms and Conditions, and how we will
notify you of these changes;
e) for a Loan, whether the Loan is repayable on
demand; and
f) a statement that information on current standard
fees, charges and any interest rates is available
on request.
16. Our Terms and Conditions will be distinguishable
from our marketing material. 
Specific information 
17. If the following information applies to your
Banking Service, we will give you that information in,
or with, our contract:
a) any minimum balance requirement;
b) any restriction on depositing money, or
withdrawing money, from a relevant account;
c) repayment details; and
d) how we will process your request to cancel a
direct debit.
18. Our Terms and Conditions for a term deposit account
will contain the following specific information: 
a) how we will pay interest and repay the principal to
you;
b) how funds may be dealt with at maturity; and
c) details of any fee, charge or change in an interest
rate resulting from a withdrawal in advance of
maturity.
19. If we provide you with cheque access, then we will
make available in the relevant Terms and Conditions
or otherwise provide information about cheques,
including information on clearing, stopping and
dishonouring cheques.
20. If we give you a foreign exchange service (other than
by credit card, debit card, or travellers’ cheque), then
we will give you:
a) details of the applicable exchange rates and
commission charges (to the extent ascertainable)
or alternatively details about how to find that
information; and
b) an indication of when any money you send
overseas would normally arrive at the destination.
21. If you have a Loan and we have a Security (such as
a mortgage) over your primary place of residence or
a residential investment property you own, we will
remind you at least once a year of your obligations to
insure that property. Our reminder will include:
a) a statement that you should check with your
insurer about cover; and
b) a reference to ASIC’s Moneysmart website
moneysmart.gov.au for information on property
insurance. 
Requesting copies of documents 
22. We will, within 30 Days of your request, give you a
copy of your documents in our possession including:
a) a contract (including Terms and Conditions,
Standard Fees and Charges and interest rates);
b) any mortgage or other Security document;
c) a statement of account; and
d) any notice we previously gave to you which is
relevant to us exercising our rights.
23. However, we do not have to give you a copy of either
of the following documents under paragraph 22:
a) a notice requiring you to take action if you ask for
the copy more than two years after the contract to
which the notice relates was discharged or ended;
or
b) a statement of account within three months after
we gave you a copy of the same statement of
account.
24. We may charge you a reasonable fee for providing
you with a copy of a document under this Code.
However, in certain circumstances, we may waive or
refund that fee.
25. We may charge you a fee for hard copy statements
that are not repeat statements (e.g. out of cycle
statements). If you tell us, and we are reasonably
satisfied that you do not have access to electronic
statements, then we will waive or refund that fee.
26. If we approve your Loan, and it is regulated under the 
National Consumer Credit Protection Act , we will let
you know that you can obtain our assessment about
whether the Loan is not unsuitable for you. 
Banking Code of Practice   | 13

Statements of account 
When we will give you statements for your deposit
account 
27. At least every six months, or more frequently if you
ask, we will give you an account statement for a
deposit account (unless it is a passbook account). 
When we will give you statements for your Loan or credit 
account 
28. If you are in Default on your Loan account, then we
will give you a statement of account or alternative (for
example, transaction history) if you ask for it.
29. If you are a Small Business or an individual and the
rules in the National Credit Code about statements of
account do not apply to your Loan or credit account,
then we will give you a statement of transactions on
your account as though those rules did apply.
30. However, we do not have to give you the statement
referred to in paragraph 29 if the nature of the relevant
Banking Service means it is impractical for us to do so.
Cost of transaction service fees
31. If you are an individual that is not a Business, we will
tell you about a transaction service fee immediately
before you incur that fee, if it is practical and
reasonable for us to do so.
32. However, it may not be practical or reasonable for us
to do so in certain circumstances, for example:
a) dishonour fees;
b) if the fee is charged based on end of day balance
and, therefore, is not necessarily incurred at the
time of the transaction (for example, an overdrawn
fee based on end of day balance);
c) if you are making an online purchase from a
third party, using a merchant terminal, or using
a third party ATM; or
d) break costs, which may be incurred if your
transaction makes a prepayment on a fixed
rate Loan.
When we change our arrangements with you
33. The Terms and Conditions of a Banking Service may
allow us to change those Terms and Conditions in
certain situations without your agreement where
allowable under law, including unfair contract terms
laws.
34. Subject to paragraphs 35 to 37 below, we will tell you
about any change to our Terms and Conditions as
soon as reasonably possible. This includes a change
to our Standard Fees and Charges.
35. If we change an interest rate, we will tell you as soon
as reasonably possible, but no later than the date
of the change, unless we are not able to because
the interest rate is calculated according to a money
market or some other external reference rate, or a
rate otherwise designated as a variable or floating 
rate.
36. Apart from changes to interest rates or changes to
repayments, if we believe a change is unfavourable
to you, then we will give you prior notice of at least
30 Days, subject to paragraph 37 below.
37. We may give you a shorter notice period,
or no notice, of an unfavourable change if:
a) it is reasonable for us to manage a material and
immediate risk; or
b) there is a change to, or introduction of, a
government fee or charge that you pay directly,
or indirectly, as part of your Banking Service. In
that case, we will tell you about the introduction or
change reasonably promptly after the government
notifies us (however, we do not have to tell
you about it if the government publicises the
introduction or change).
38. We will tell you about these changes by one or more
of the following methods:
a) by advertising in the national, or local, media;
b) by giving you written notice (this includes printed
or electronic communications such as app
notifications, emails, publishing the notice on our
website or another platform and directing you to
the notice);
c) by notifying you in any other way that is permitted
by law; or
d) through any other notice method agreed with you. 
14 | ausbanking.org.au

Closing any of your Banking Services 
We will give you information about closing your accounts 
39. We will give you readily accessible information about
how to close your account. 
You may close your accounts 
40. If you want to close your account, then we will
enable you to do this quickly and easily. Some
products may have a minimum notice period. 
Closing an account that is in credit 
41. If we close an account of yours under its Terms
and Conditions that is in credit, we:
a) will, if appropriate, give you reasonable notice
of the closure;
b) will, if appropriate, pay you the amount of the
credit balance (for example where we have
your payment account details); and
c) may charge you an amount that is our reasonable
estimate of the costs of closing your account.
Keeping your accounts safe and secure 
We will tell you about safeguarding important items 
42. We will tell you to safeguard your payment
documents (such as cheques) and Devices
(such as debit cards or credit cards). 
We will tell you when you should tell us if any of
those items are lost or misused 
43. Our Terms and Conditions set out when you
should tell us if any payment documents or
Devices are lost or misused.
44. We will tell you about:
a) how you can notify us of the loss, theft
or misuse; and
b) the consequences of you not telling us
about the loss, theft or misuse. 
Banking Code of Practice   | 15

PART B
Customers
B1 Inclusive and accessible banking
We believe in inclusive and accessible Banking
Services
45. We are committed to providing Banking Services
which are inclusive and accessible for all customers.
We will take reasonable measures to enhance access
to our services for customers including, but not limited
to:
a) older customers;
b) people with disability;
c) Aboriginal and Torres Strait Islander customers,
including those in remote locations;
d) people with limited English; and
e) people of diverse sexual orientations, gender
identities and sex characteristics including lesbian,
gay, bisexual, trans and gender diverse, intersex,
queer and asexual people, and people born with
an intersex variation.
46. We will work to improve inclusivity and accessibility
for our customers including, where appropriate and
practicable, organising or referring you to external
support free of charge, including:
a) interpreter services (for example via qualified
interpreters, including Auslan);
b) National Relay Services; or
c) accessible information (such as enabling the use
of screen readers and easy read guides).
Where it is not practicable to refer you to external
support (for example, where an interpreter is not
available), we will let you know of alternative ways we
may provide support (for example, rescheduling a call
to a time when an interpreter is available) or where
you may otherwise receive support.
47. Where our staff are fluent in non-English languages, 
nothing in paragraph 46 prevents those staff
members from conversing with you in those
languages.
When providing Banking Services to Aboriginal and
Torres Strait Islander customers
48. If you tell us you are an Aboriginal or Torres Strait
Islander customer, we will take reasonable steps to
make our Banking Services accessible to you.
We will also:
a) tell you about any accounts and services that are
relevant to you;
b) tell you about any accounts or services that have
no or low standard fees, if our enquiries indicate
you may be eligible for these and help you transfer
to another account you want; and
c) help you meet any identification requirements if
you do not have access to standard identification
documents, by following AUSTRAC’s guidance
on identification and verification of Aboriginal and
Torres Strait Islander customers.
49. We will provide cultural awareness training to staff
who regularly assist Aboriginal and Torres Strait
Islander customers and Guarantors.
50. We will also make cultural awareness training
available to all other staff.
When providing Banking Services to remote
customers
51. We will also assist our customers who reside in
remote communities (including remote Aboriginal and
Torres Strait Islander communities) to access and
undertake their banking.
B2 Taking extra care with customers
who are experiencing vulnerability
We will take extra care with customers who are
experiencing vulnerability
52. We are committed to taking extra care with
customers who are experiencing vulnerability. We
recognise that a customer’s circumstances may 
16 | ausbanking.org.au

require support and that these circumstances may
change over time and in response to particular
situations. While all customers may be at risk of
experiencing vulnerability, this risk may be increased
due to a range of characteristics which may include,
but are not limited to:
a) age;
b) disability;
c) mental health conditions;
d) cognitive impairment;
e) serious medical conditions;
f) elder abuse;
g) family and/or domestic violence;
h) financial abuse;
i) Financial Difficulty; 
j) literacy and/or language barriers including limited
English;
k) cultural background;
l) Aboriginal or Torres Strait Islander customers;
m)   remote locations; or
n) incarcerated persons or persons recently released
from incarceration.
We encourage you to tell us about your
circumstances so that we can work with you in
relation to your Banking Service, otherwise we may
not find out about your circumstances.
53. If you require extra care and you tell us about your
personal or financial circumstances, we will work with 
you to identify a suitable way for you to access and
undertake your banking.
54. When we are providing a Banking Service to
customers who are experiencing vulnerability we will:
a) be respectful of your need for privacy and
confidentiality; 
b) provide appropriate guidance and referrals
intended to help you to maintain, or regain, control
of your finances; and 
c) where appropriate, make it as simple as possible
for you to appoint a third-party representative
(such as a lawyer or financial counsellor) to deal
with us on your behalf.
B3 Banking Services for people with
low or no income
When providing transaction Banking Services to
low or no income earners
55. If you are an individual and you tell us that you are a
low or no income earner, we will give you information
about our accounts that you may be eligible for and
may be appropriate to your needs for which:
a) Standard Fees and Charges are low; or
b) there are no Standard Fees and Charges
(if we offer such a product).
56. Our obligation in the previous paragraph applies
to you regardless of whether or not you are our
customer.
We may become aware if you are a low or no income
earner only if you tell us about it.
If you receive a Commonwealth pension or
concession, we will give you information about our
low or no fee accounts
57. If you apply for a new transaction account, we will
ask you if you have any of the following government
cards. If you tell us that you have one of these cards,
and the account you enquire about is not a basic bank
account or low or no fee account, then we will give
you information about any basic bank accounts or
transaction or deposit accounts we offer that have low
or no Standard Fees and Charges (see paragraph 59):
a) a Commonwealth Seniors Health Card;
b) a Health Care Card; or
c) a Pensioner Concession Card.
Basic accounts
58. We may offer ‘basic accounts’, or other kinds of low
or no fee transaction accounts.
59. Basic accounts have, at a minimum:
a) no account keeping fees;
b) free periodic statements (you can choose monthly
or longer intervals);
c) no minimum deposits (except that, if your
government benefit is paid into a bank account
of yours, you may be required to have it paid into
this account);
d) free direct debit facilities; 
Banking Code of Practice   | 17

e) access to your choice of a widely accepted
debit payment method (including a debit card)
offered by us on your basic bank account at no
extra cost; and
f) free and unlimited Australian domestic
transactions.*
*Note that you may be charged for certain ancillary
services. For example, bank cheques, telegraphic
transfers, or transactions at ATMs operated by
third parties.
We will raise awareness of basic, low or no fee
accounts and give you information about them
60. We will raise awareness of our affordable banking
products and services such as basic, low, or no
fee accounts, including awareness of who they
are designed for.
61. We will give you information that is easily
accessible about accounts that have low, or
no, Standard Fees and Charges.
Special features for basic, low or no fee
accounts for Eligible Customers
62. If you are an Eligible Customer and you ask for
a basic account, or a low or no fee account, we
will offer you one of these accounts that has the
special features listed in this paragraph and, if we
offer basic accounts, will also have the features
listed in paragraph 59. The special features are:
a) no Informal Overdrafts (except where it is
impossible or reasonably impractical for us to
prevent your account from being overdrawn);
b) No Dishonour Fees; and
c) No Overdrawn Fees.
63. You are not obliged to accept our offer of an
account with the special features in paragraph
62. You may request (or we may offer you) other
accounts (including other basic, low fee or no
fee accounts) which do not have some or all the
special features or may have additional features.
64. We may also offer accounts with some or all of
the special features in paragraph 62, (and/or the
features in paragraph 59), to individuals who are
not Eligible Customers under this Part.
65. For the purposes of this Part:
‘Eligible Customer’ means an individual that is
not a Business who holds a current government
concession card listed in paragraph 57.
‘Informal Overdraft’ means credit we provide
when (without your express agreement) we permit
you to overdraw your account.
‘No Overdrawn Fees’ means we will not charge a
fee where your account falls into debit. However,
you may be charged interest on the amount
in debit.
‘No Dishonour Fees’ means we will not charge
a fee because a debit on a basic, low or no fee
account is declined due to insufficient funds in the 
account.
Training for staff about customers eligible for
basic, low, or no, fee accounts
66. We will train our staff to help them to recognise a
person that may qualify for a basic, low, or no fee
account.
B4 Lending to individuals
The   National Consumer Credit Protection Act 
generally applies to lending to individuals for their
personal (non-Business) use. You can refer to that Act
to find out more about the protections and information 
that you may be entitled to under that Act.
This Part B4 sets out our additional commitments
when we provide a Loan to an individual who is not a
Business.
Appropriate lending
67. If we are considering providing you with a new
Loan, or an increase in a Loan limit, we will
exercise the care and skill of a diligent and
prudent banker. We will do this by complying with
the law.
68. We also owe the above obligation to any
Guarantor of a Loan referred to in the above
paragraph in assessing the borrower’s ability to
repay the Loan.
Co-borrowers
69. If you are an individual applying for a Loan, or an
increase to a Loan limit, in your personal capacity
(i.e., not as trustee, director or co-borrower with 
18 | ausbanking.org.au

a company or as a partner in a partnership or joint-
venture arrangement), paragraphs 70 to 72 apply
to you.
70. If, on the information that you have provided to us
in the course of applying for this Loan, you will not
receive a substantial benefit from the Loan, we will
not approve you as a co-borrower unless we:
a) have taken reasonable steps to ensure that you
understand the risks associated with entering into
the Loan, and understand the difference between
being a co-borrower and a Guarantor;
b) have taken into account the reasons why you want
to be a co-borrower; and
c) are satisfied that you are not experiencing financial 
abuse.
71. A substantial benefit includes where: 
a) you acquire a reasonably proportionate legal or
equitable interest in assets purchased with the
Loan funds; or
b) a reasonable portion of the Loan funds are used to
repay your debts, or other obligations owed by you.
72. You may end your liability under the Loan by giving
us a written request to do so in the following
circumstances:
a) where credit has not been provided or relied upon
by any co-borrower; or
b) for any future advances under the Loan, where we
can terminate any obligation we have to extend
further credit to any other co-borrower under the
same Loan.
Lenders mortgage insurance
73. We may require you to pay for lenders mortgage
insurance in connection with a Loan you have. If we
do this, we will give you a fact sheet about lenders
mortgage insurance. The fact sheet will contain
information outlining the key policy features.
74. We will not charge you more for lenders mortgage
insurance than the actual cost we incur for that
policy. We will not receive a commission on your
lenders mortgage insurance policy.
75. Depending on the terms of the lenders mortgage
insurance policy, if your Loan is repaid or refinanced 
before the end of the policy, then you may be entitled
to a refund of part of the fee or charge you have paid.
We will explain this to you in the fact sheet.
B5 Lending to Small Business
This Part B5 sets out our specific commitments to Small
Businesses in relation to providing Loans. Any reference
to “you” or “your” in this Part B5 means “Small Business
and any reference to “guarantor” means any guarantor of
a Small Business, and is not limited to a “Guarantor” (as
defined in Part E).
Helping a Small Business when it applies for a Loan
76. We will tell you how to apply for a Loan, including the
following:
a) the information we require; and
b) after we have received the information we have
requested, how long before we are likely to make
a decision.
Assessing a Small Business Loan application 
Appropriate lending 
77. If we are considering providing you with a new Loan,
or an increase in a Loan limit, we will exercise the
care and skill of a diligent and prudent banker.
78. When assessing whether you can repay the Loan,
we will do so by considering the appropriate
circumstances reasonably known to us about one or
both of your:
a) financial position; or 
b) account conduct.
Where relevant, we may also take into account your
projected future cash flows. 
We will not ask a third party (such as your
accountant) to certify that you can repay the Loan.
Where reasonable to do so, we may rely on the
financial resources of third parties available to you,
provided that the third party has a connection to you
(that is, to the Small Business). For example, where
the third party is a Related Entity of yours (including
but not limited to your directors, shareholders,
trustees, beneficiaries or related body corporates), or
is a partner, joint venturer, or guarantor of yours.
79. We also owe an obligation to any Guarantor of the
Loan to comply with paragraph 78 in assessing the
borrower’s ability to repay the Loan. 
Documents we will give you 
80. Before you accept a Loan offer, we will give you a plain
English document clearly setting out the key general 
Banking Code of Practice   | 19

Terms and Conditions of the Loan. This is in addition to
any documents required under this Code and may be a
separate document or part of the Loan document. 
Where we decide not to approve your Loan 
81. If we decide not to approve a Loan to you, we will tell
you the general reason why, unless it is reasonable
for us not to do so.
When can we enforce a Loan against a Small
Business for non-payment?
For special conditions about other Defaults, see
paragraphs 86 to 92. 
How much notice will we give a Small Business before
enforcing a Loan for non-payment? 
82. If you have not met a Loan payment obligation under
your Loan(s) with us, we will give you no less than 30
Days’ notice of the payment failure before we make
a demand for full repayment or take Enforcement
Proceedings in relation to your Loan(s), unless
paragraph 84 applies.
83. We will not require full repayment or take
Enforcement Proceedings for non-payment where:
a) the overdue amount is paid during the notice
period referred to in paragraph 82; and
b) if during that notice period a subsequent payment
failure has occurred and that further overdue
amount is also paid during that notice period.
However, we may still rely on another Default that
is not a payment Default when permitted under
paragraphs 86 to 92.
84. We may give you a shorter notice period, or no
notice, for a payment failure if:
a) you or a guarantor is insolvent, goes into
bankruptcy, voluntary administration, other
insolvency process or arrangement, or no longer
has legal capacity; or
b) it is reasonable for us to do so to manage a
material and immediate risk relating to the
nature of the relevant Default, your particular
circumstances, or the value of the Security.
85. If you have an overdraft or on-demand facility, we
may not be required to give you any notice when we
require repayment, but if a failure to repay that facility
on demand also constitutes a Default under another
Loan with us, we will comply with this Part if we
enforce that other Loan based on that Default.
Specific events of other Defaults 
Paragraphs 82 to 85 deal with payment Defaults. The
following paragraphs 86 to 92 deal with other Defaults in
standard form Small Business Loans. 
Loan Terms and Conditions 
86. Our Loan Terms and Conditions will specify how and
when we can enforce a Loan against you for Defaults
other than payment Defaults. 
Enforcement of Small Business Loans for non-monetary
Defaults 
87. For Defaults other than payment Defaults, we will not
take action against you unless your Default is one
of the following and paragraph 90 permits action in
relation to that Default:
a) you or a guarantor is insolvent, goes into
bankruptcy, voluntary administration, other
insolvency process or arrangement, or no longer
has legal capacity;
b) another creditor brings Enforcement Proceedings
against you or a guarantor or against your or their
assets;
c) early repayment is required under a separate
financing arrangement you or a guarantor has
with us;
d) Default Based Action is taken by us under a
separate financing arrangement against you or
a guarantor, due to an event of Default which is
described in this Part;
e) we believe on reasonable grounds that you or a
guarantor has not complied with the law or any
requirement of a statutory authority, or it becomes
unlawful for you or us to continue with the Loan;
f) you or a guarantor gives us information or makes a
representation or warranty to us which is materially
incorrect or misleading (including by omission);
g) you use the Loan for a purpose not approved
by us;
h) your assets or a guarantor’s assets are dealt with,
or attempted to be dealt with in breach of the
Loan, or any Security or other agreement with us
without our consent;
i) you or a guarantor do not provide financial
information required by your agreement with us;
j) you or a guarantor do not maintain a licence or
permit necessary to conduct your Business; 
20 | ausbanking.org.au

Banking Code of Practice   | 21

k) you or a guarantor do not maintain insurance
required by your agreement with us;
l) legal or beneficial ownership, or management
control of a borrower or guarantor or their
Business changes without our consent; or
m)   status, capacity or composition of you or a
guarantor changes without our consent.
Nothing in this paragraph prevents us from taking action
under paragraphs 82 to 85 or in relation to Defaults
arising under covenants permitted by paragraph 91.
What we will do before we take Default Based
Action 
Remedying your Default 
88. Where your Default is identified in paragraph 87(a) to 
(m), we will give you:
a) a notice specifying the grounds on which we
consider there is a Default; and
b) no less than 30 Days’ notice of the Default (unless
paragraph 89 applies) to remedy your Default
where it is able to be remedied and notify you of
this time period.
89. We may give you a shorter notice period, or no
notice, if:
a) you or a guarantor is insolvent, goes into
bankruptcy, voluntary administration, other
insolvency process or arrangement, or no longer
has legal capacity; or
b) it is reasonable for us to do so to manage a
material and immediate risk relating to the
nature of the relevant Default, your particular
circumstances, or the value of the Security. 
Material impact 
90. We will only act on a specific event of Default identified 
in paragraph 87(a) to (m), if the event by its nature is
material, or we reasonably consider the event has had,
or is likely to have, a material impact on:
a) you or your guarantor’s ability to meet your or their
financial obligations to us (or our ability to assess 
this);
b) our Security risk (or our ability to assess this); or
c) our legal or reputation risk where paragraph 87(e),
(f) or (g) applies. 
Specialised Small Business Loans 
91. For the following types of Small Business standard
form Loans, we may include financial indicator
covenants or special covenants tailored to the
particular nature of these Loans as a trigger for
Default Based Action:
a) Loans for property development; or
b) Loans for specialised lending transactions,
which because of their nature, require additional
covenants as a way of banks managing their
risks, including margin lending, Loans to self-
managed superannuation funds, bailment, invoice
discounting, construction finance, foreign currency 
Loans and tailored cash flow lending. 
General material adverse change clauses 
92. We will not include an event of Default based
on unspecified material adverse changes in any
standard form Small Business Loan contract.
When we decide not to extend a Loan 
How much notice will we give you before the end of
a Loan 
93. If you are not in Default, and under the Loan contract
the principal owing is not to be fully repaid at the end
of its scheduled term by regular periodic repayments,
we will give you notice of our decision not to extend
your Loan, at least 3 months before you need to
repay your Loan in full.
94. If we decide to extend or refinance your Loan, we
are not required to do so on the same terms.
When we appoint external property valuers,
investigative accountants and insolvency
practitioners 
When using external property valuers, we will be fair and 
transparent 
95. Our processes in relation to external expert valuations
will be fair and transparent.
96. Our communication will be clear, and we will explain
the purpose of the valuation to you. 
When we will provide you with a copy of a valuation 
97. Where we have received a valuation of a commercial
or agricultural real property which you have paid
for, we will provide you with a copy of that valuation
and the related valuer instruction (except where 
22 | ausbanking.org.au

Enforcement Proceedings have commenced).
We may require you to acknowledge in writing that
you accept our reasonable limitations on your use of
the valuation before we provide it to you.
98. We will only appoint appropriately qualified
and experienced valuers who are members of
professional organisations which abide by a similar
code of practice. 
Appointing investigating accountants and insolvency
practitioners (including voluntary administrators) 
99. We will act fairly when using investigative
accountants and insolvency practitioners, and will
ethically manage potential conflicts of interest when
appointing receivers who have been investigating
accountants for a Small Business, for example:
a) We will only appoint qualified practitioners who are 
members of relevant professional organisations
with appropriate codes of conduct.
b) We will require additional internal oversight of
the appointment of investigating accountants as
receivers, to ensure that the decision is necessary
and to review the circumstances leading to the
appointment.
c) If the relationship between you and the
investigating accountant has deteriorated (for
example has become unworkable), we will
consider the appointment of an alternative
qualified practitioner. 
B6 Guaranteeing a Loan
When this part applies
100. If you are a Guarantor for a Loan that we give to
another individual or Small Business, and this Code
applies to the Loan, then this part of the Code
applies to your guarantee and/or indemnity.
101. Under this part of the Code, we must give you
information and follow certain processes designed
to help you understand the financial risks of giving
a guarantee and to decide whether you choose
to accept those risks. However, you must make
your own assessment of whether you choose to
enter a guarantee. You should consider seeking
independent legal and financial advice.
Limiting liability under the guarantee
102. Your guarantee will be limited to:
a) a specific amount and/or category of amounts 
such as all amounts owing under a specific Loan, 
plus other liabilities and amounts as described in
the guarantee (for example, interest and recovery
costs); or
b) the value of a specified property or other assets
under a specified mortgage or other Security at
the time of recovery.
What we will tell and give you 
Notice to you 
103. The Terms and Conditions of the guarantee will
contain a prominent notice that:
a) you should seek independent legal and financial
advice;
b) you can refuse to sign the guarantee;
c) there are financial risks involved; 
d) you can limit your liability in accordance with this
Code or as allowed by law;
e) you can request information about the
transaction or Loan; and
f) if applicable, that the guarantee may cover future
credit facilities and variations of the existing Loan.
We will also include a warning notice that appears
directly above the place where you sign the
guarantee (substantially in the form required
by section 55 of the National Credit Code and
detailed in Form 8 of the   National Consumer Credit
Protection Regulations 2010   (Cth) and consistent
with this Code).
104. We will tell you:
a) about any notice of demand we have made on
the borrower for the guaranteed Loan, or any
Loan the borrower has (or has had) with us,
within the previous two years; and
b) if any existing Loan we have given the borrower
will be cancelled if the guarantee is not provided.
This paragraph does not apply if you are a
Commercial Asset Financing Guarantor, Sole
Director Guarantor, Trustee Guarantor or
Partnership Guarantor. 
Banking Code of Practice   | 23

Guarantee documents 
105. We will give you a copy of the following documents
and/or information in relation to the borrower:
a) the proposed Loan contract;
b) a list of any related Security contracts;
c) any related credit report from a credit reporting
body;
d) any current credit-related insurance contract that
is in our possession;
e) any financial accounts or statement of financial
position the borrower has given us in the
previous two years for the purposes of the
guaranteed Loan;
f) the latest statement of account relating to the
Loan for a period in which a notice of demand
was made by us within the last two years; and
g) other information we have about the guaranteed
Loan that you reasonably request — but we do
not have to give you our internal opinions.
This paragraph does not apply if you are a
Commercial Asset Financing Guarantor, Sole
Director Guarantor, Trustee Guarantor or
Partnership Guarantor.
106. If we approve the Loan being guaranteed by you, we
will let you know that you can request a copy of our
assessment about whether the Loan is not unsuitable
for the borrower where regulated under the   National
Consumer Credit Protection Act , free of charge.
107. We will give the guarantee documents directly
to you or your representative. We will not give
the guarantee documents to the borrower, or to
someone acting on behalf of the borrower, to
arrange for you to sign the guarantee.
This paragraph does not apply if you are a
Commercial Asset Financing Guarantor, Sole
Director Guarantor, Trustee Guarantor or
Partnership Guarantor.
108. If you are a Director Guarantor (other than a Sole
Director Guarantor) we will tell you that you have the
right to receive the documents in paragraphs 103
to 105 and that these documents contain important
information that may affect your decision to give a
guarantee. You may choose not to receive some or
all of the documents and we will not influence your 
choice.
Before accepting a guarantee
109. Before we accept your guarantee, we will take
reasonable steps to ensure that a meeting is held
with you either in person or via video conference,
phone, or some other means to discuss you being
a Guarantor.
110. We will take reasonable steps to ensure that the
borrower is not, to our knowledge, present at the
time of the meeting referred to in paragraph 109.
Where the meeting is not in person, this will be
done by having you confirm that the borrower is not 
present, and if the meeting is via video conference,
we will also ensure that the borrower is not visible
on screen.
111. Paragraphs 109 and 110 do not apply if:
a) you or your lawyer confirm to us that you have
received independent legal advice about the
guarantee;
b) you are a Director Guarantor, Commercial Asset
Financing Guarantor, Sole Director Guarantor,
Trustee Guarantor, Partnership Guarantor or
Vehicle Asset Financing Guarantor; or
c) you are accepting an extension of the guarantee.
Signing your guarantee 
When we can accept your guarantee 
112. We will not accept a guarantee from you until the
third day after you have been given the information
provided at paragraphs 103 to 105.
113. However, we can accept the guarantee earlier if:
a) you or your lawyer confirm to us that you have
received independent legal advice about the
guarantee;
b) you are accepting an extension of the guarantee;
c) you are a Commercial Asset Financing Guarantor,
Sole Director Guarantor, Trustee Guarantor,
Partnership Guarantor or Vehicle Asset Financing
Guarantor; or
d) you are a Director Guarantor and you choose to
sign and deliver the guarantee earlier. We will not
influence your choice. 
114. If we attend the signing of the guarantee, we will
ensure that you sign the guarantee in the absence
of the borrower. Where the signing is via video 
24 | ausbanking.org.au

conference, this will be done by having you confirm 
that the borrower is not present, and ensuring that
the borrower is not visible on screen.
This paragraph does not apply if you are a
Commercial Asset Financing Guarantor, Sole
Director Guarantor, Trustee Guarantor or
Partnership Guarantor. 
During the guarantee 
115. We will send to you the following information, about
a borrower’s deteriorating financial position as it 
relates to the Loan you guarantee, within 14 Days of
the relevant event:
a) a copy of any formal demand or Default notice
we send to the borrower after we send it;
b) a written notice if the borrower has advised us
that they are experiencing Financial Difficulty 
which has resulted in a change to their Loan; and
c) a written notice if the borrower is in continuing
Default for more than two months after the
issuance of the Default notice referred to above.
This paragraph does not apply if you are a
Commercial Asset Financing Guarantor, Sole
Director Guarantor, Trustee Guarantor or
Partnership Guarantor.
116. You may write to us to limit, or further limit
the liabilities you have guaranteed under your
guarantee. However, we do not have to accept your
request if:
a) the amount, or nature, of the limit you request
does not cover the borrower’s existing liability
(plus any interest owed, or any fees, or charges
that we may incur in respect of that liability) under
the relevant Loan contract at the time;
b) we are obliged to make further advances to the
borrower; or
c) we would be unable to preserve the current value
of an asset which is Security for the Loan without
making further advances.
117. If you ask us to, within 30 Days we will give you
additional copies of any information we have given
you about your guarantee. However, we do not
need to give you those copies if we have given
you the information you requested within 3 months
before your request.
This paragraph does not apply if you are a
Commercial Asset Financing Guarantor, Sole
Director Guarantor, Trustee Guarantor or
Partnership Guarantor.
118. Nothing in this Code requires us to provide you
with any information other than the specific factual
information referred to in paragraphs 104, 105, 106
and 115.
Extending your guarantee
119. If a borrower obtains a new Loan or has changes
made to an existing Loan, then these may be
covered by your guarantee to the extent they fall
within the limit contained in your guarantee.
120. If we agree to increase the limit in your guarantee,
we will:
a) give you what is required under paragraph 105;
and
b) obtain your written acceptance of the extension
of the guarantee.
121. In these circumstances, we will provide you with
any unsatisfied notice of demand made by us on
the borrower in respect of the Loan.
Withdrawing or ending your guarantee 
Withdrawing your guarantee 
122. You may, by written notice to us, withdraw from the
guarantee:
a) at any time before we provide credit under the
relevant Loan; or
b) after credit is first provided, if the signed version 
of the relevant Loan differs in a material respect
from the proposed Loan, we gave you before you
signed the guarantee. This does not apply for any
change to the Loan described in paragraph 119.
However, if your guarantee applies to more than
one Loan, you may only withdraw in relation to a
Loan referred to in (a) or (b). 
Ending your guarantee 
123. You may end your liability under a guarantee you
have given to us by:
a) paying us the lower of:
i) the borrower’s outstanding liability, including
any future or contingent liability; or
ii) the amount to which your guarantee of 
Banking Code of Practice   | 25

the borrower’s liability is limited under the
guarantee; or
b) making other arrangements we agree to in return
for releasing you from your guarantee.
Enforcing our rights under the guarantee 
How we will enforce our rights under the guarantee 
124. We will not enforce any mortgage or other Security
you have given us in connection with the guarantee,
such as a mortgage over your principal place
of residence, unless we have first enforced any 
mortgage or other Security that the borrower has
provided for the guaranteed liability. Before we
enforce a mortgage over your principal place of
residence in connection with the guarantee, we will
encourage you to tell us about your circumstances
so that we can discuss other reasonable
alternatives for you to repay the guaranteed liability.
If you are experiencing Financial Difficulty, you can 
also contact us under paragraph 127.
This paragraph does not apply where the guaranteed
liability arises under a standard margin loan.
125. We will not enforce any judgement against you
under the guarantee unless:
a) we have first enforced any mortgage or other
Security that the borrower has provided for the
guaranteed liability; and
b) if one (or more) of the following has occurred:
i) we have obtained Court judgement in our
favour against the borrower for payment of the
guaranteed liability, and the judgement debt
remains unpaid for at least 30 Days after our
written demand for its payment;
ii) we have made reasonable attempts to locate
the borrower but without success; or
iii) the borrower is insolvent.
126. However, the restrictions under paragraphs 124 and
125 do not:
a) apply if, after the Default notice is issued and
after we have informed you of the limitations of
our enforcement rights under this Part, you have
specifically agreed in writing that they do not 
apply; or
b) require us to first enforce any mortgage or other
Security that the borrower has provided if we
reasonably expect that the net proceeds of
that enforcement will not be sufficient to repay
a substantial portion of the guaranteed liability,
or as a result of the borrower not providing
us with information, documents, or access to
premises or assets as required, we are unable
to reasonably assess whether the net proceeds of
that enforcement will not be sufficient to repay a 
substantial portion of the guaranteed liability.
Guarantors experiencing Financial Difficulty 
127. If you are a Guarantor and we have made a
demand for you to pay under a guarantee and you
are experiencing Financial Difficulty, then contact
us as soon as possible and we will discuss your
options.
B7 Farmers
Charging Default Interest during drought and
natural disasters
128. Subject to paragraph 129, where you are a Farmer
and we have provided you with a Loan for the
purposes of a Farming Operation, we will not
charge Default Interest (or any fee in lieu of Default
Interest) on that Loan during any period that the
land you use for that operation is in drought or
subject to natural disaster.
For the purposes of this paragraph, land is “in
drought or subject to natural disaster” where an
Australian State or Territory Government makes a
declaration to that effect, or, if no such declaration is
made, where we are satisfied on other grounds that 
the land is in drought or subject to natural disaster.
129. For paragraph 128 to apply, you may need to tell
us about the circumstances, and we will refund any
Default Interest or fees charged in lieu of Default
Interest which were charged during your Default
and the drought or natural disaster.
Farm debt mediation
130. Before we enter into a farm debt mediation with
you, we will inform you that you may have a right to
make a Complaint to AFCA. 
26 | ausbanking.org.au

Banking Code of Practice   | 27

131. If we do not reach an agreement at a farm
debt mediation and you then decide to make a
Complaint to AFCA, we will give our consent for
AFCA to consider the Complaint. This paragraph
only applies where your Complaint would have been
excluded by AFCA because it had previously been
the subject of a farm debt mediation.
B8 Deceased estates
This Part B8 sets out our commitments to assisting you
in relation to customer accounts where the customer is a
deceased individual. It does not apply to accounts held
by a customer who is a company. In this Chapter, “you”
or “your” means a Deceased Estate Representative or
any other person who we reasonably consider has an
appropriate interest in the Deceased Estate.
Deceased Estate Representatives
132. We will treat you with respect and compassion
and provide clear and accessible information as
to what a Deceased Estate Representative can do
to manage a customer’s account(s) in the event
of their death. We will also make this information
publicly available (for example, on our website). This
will include information about:
a) how to notify us of a customer’s death;
b) who has authority to access the customer's
account(s) or Loan details;
c) what information we need to verify the
identity and authority of a Deceased Estate
Representative;
d) what steps the Deceased Estate Representative
needs to take to manage the deceased
customer’s account(s); and
e) direct debits and recurring payments.
Notifying us
133. You should notify us of a customer’s death as soon
as practicable.
134. We may require you to provide us with documents
to confirm the customer’s death, such as a verified 
copy of the death certificate. If you are having difficulty 
obtaining a death certificate, please contact us to 
discuss alternative documents that may be acceptable
(for example, a verified copy of a medical report). 
What happens after we are notified 
135. Following notification of the customer’s death, we
will take reasonable steps to promptly secure any
accounts in the sole name of the deceased by:
a) removing the deceased customer’s internet and
app banking login credentials; and
b) restricting the types of debit transactions that
can be performed on the account. Certain
transactions may still be processed (for example,
those referred to in paragraph 139(a).
136. For any accounts in the sole name of the deceased,
we will also:
a) promptly identify and stop charging any fees
that are for Banking Services that can no longer
be provided, or will not be provided to the
deceased’s estate; and
b) if any fees referred to in paragraph 136(a) above
have already been charged since the customer’s
death, refund those fees.
Fees for Banking Services that will continue to be
provided to a deceased’s estate may continue to
be charged (for example, account keeping fees).
Notifying us that you are a Deceased Estate
Representative and acting on instructions
137. To allow us to determine that you are a Deceased
Estate Representative, to share information with
you and to take your instructions concerning a
deceased’s accounts, we will usually require proof
of identification together with the following:
a) if the deceased customer has made a Will and
you are the Executor(s) nominated in that Will, we
will require a verified copy of the Will; or 
b) if the deceased customer has not made a Will,
a verified copy of the death certificate identifying 
you as the Next of Kin(s) (if not already provided)
or other documentation that recognises you as
the Next of Kin.
We may require additional documentation to the
documents listed above. If you cannot produce the
documents referred to in 137(a) and 137(b) above,
please contact us to discuss. 
28 | ausbanking.org.au

138. If we have received verified copies of documents
to establish a Deceased Estate Representative, we
will act on a valid Deceased Estate Representative
instruction concerning a deceased’s accounts
within 14 business days of receiving that
instruction. If there are multiple Deceased Estate
Representatives (for example, two Executors named
in the Will), we may require valid instruction from
each Deceased Estate Representative.
139. In circumstances where a Grant of Probate or
Letters of Administration are required but have not
yet been issued, a Deceased Estate Representative
may only provide the following types of instructions:
a) instruction to provide all information about
the deceased’s account including relevant
ongoing fees;
b) instruction to receive payment towards a debt
owed to us by the deceased; and
c) instruction to release funds to pay or reimburse
permissible expenses such as funeral expenses
or court filing fees for Grant of Probate or Letters
of Administration (subject to receiving proof of
invoice or receipt).
140. If we do not require a Grant of Probate or Letters
of Administration, we will tell a Deceased Estate
Representative how they can finalise the estate.
141. A Deceased Estate Representative may apply to
open a deceased estate account in the name of the
estate of the deceased customer, if we offer that
type of Banking Service.
Grant of Probate and Letters of Administration
142. We will tell a Deceased Estate Representative
if we require a Grant of Probate or Letters of
Administration to accept certain instructions (for
example, to distribute assets).
143. If we have received a verified copy of a Grant of 
Probate or Letters of Administration (whichever is
relevant), we will act on a valid Deceased Estate
Representative instruction concerning a deceased’s
accounts within 14 business days of receipt of that
instruction. If there are multiple Deceased Estate
Representatives, we may require valid instruction
from each Deceased Estate Representative.
Appointing a legal representative to act on behalf of
the Deceased Estate Representative
144. A Deceased Estate Representative can appoint a
legal representative (lawyer or solicitor) at any time
to act on their behalf. Your legal representative will
need to provide us with information to enable us to
identify the estate that they are representing.
Joint accounts
145. If you are a joint account holder with a deceased
customer, you may continue to operate the account
subject to the Terms and Conditions of the account. 
Banking Code of Practice   | 29

PART C
Banking services
C1 Joint Accounts
146. If you have a joint account, we will tell you how you
can use that account.
How you can stop withdrawals
147. If you have a joint account, from which either you
or another account holder can make withdrawals,
you can ask us to change the account authority so
that all account holders have to approve any future
withdrawals. This may be relevant to you if you are
vulnerable (see Part B2).
148. The above paragraph does not apply to directors
of a company who are signatories on behalf of the
company, rather than joint account holders in their
personal capacity.
Joint Accounts and Financial Difficulty 
149. If you have a joint account with someone and you
are experiencing Financial Difficulty, then we can
assist you. If you ask us to, we can do so without
involving the other person initially.
C2 Direct debit and recurring
payment services
150. We will provide information on our websites about
how Direct Debits or Recurring Payments may be
cancelled.
We will give you a list of your Direct Debits and
Recurring Payments
151. If you ask us to, we will give you a list of Direct
Debits and Recurring Payments on your accounts
for up to the previous 13 months. The list will
include only those Direct Debits and Recurring
Payments that are known to us from the information
we receive about your transactions.
What we will do when you ask to cancel a Direct
Debit or advise us of a problem with a Direct Debit
152. You can ask us to cancel your Direct Debit request
and we will promptly process this.
This paragraph does not apply to cancellations of
Recurring Payments (whether via a debit card or
credit card), which must be done by contacting the
Merchant or service provider directly.
153. You can ask us to investigate an unauthorised
Direct Debit and we will act promptly to assist you.
C3 Credit and debit cards 
We will give you notice before an introductory balance
transfer offer ends 
154. If you have an introductory balance transfer offer on
your consumer credit card, we will give you at least
30 Days’ notice before it is due to end. 
How we treat your existing credit cards when you apply
for a new Loan or Loan increase 
155. If the National Credit Code would apply to the new
Loan or Loan increase we are considering providing
to you, we will factor in your ability to repay the
amount of your existing consumer credit card
limits within three years when complying with our
obligations to you under this Code. 
Setting a credit card limit when you apply 
156. You can let us know what your preferred credit card
limit is and we will not give you a limit that is more
than what you requested. Transactions may be
processed which nevertheless cause you to exceed
your limit. 
You can ask us to dispute a transaction on your credit or
debit card account 
157. If, within the time limit set by your credit card or
debit Card Scheme rules — you tell us that you
dispute a transaction on your card, then we:
a) will claim the relevant amount back if we find it to 
30 | ausbanking.org.au

have been incorrectly charged and you have not
contributed to the loss; or
b) may accept the Merchant’s refusal to make that
chargeback only if the refusal is made in a way
allowed under the relevant Card Scheme rules.
158. You have the rights under the above paragraph
even if the payment was debited from your credit
card or debit card account and was part of a
recurring payment arrangement you have with that
Merchant.
159. You may have rights to dispute an Unauthorised
Transaction under the ePayments Code (see asic.
gov.au/regulatory-resources/financial-services/ 
epayments-code) or as contained in your Terms
and Conditions.
160. We will make general information about disputed
transactions available to you and notify you of the
availability of this information at least once every 12
months.
Cancelling your credit card
161. If we cancel your credit card, we will tell you. If
appropriate, we will give you the general reasons
for doing so.
C4 Consumer credit insurance (CCI)
Our approach to selling CCI for credit cards and
Loans
162. If we offer CCI, then we will give you clear
information that enables you to make an informed
decision, including (to the extent we can):
a) the cost of the CCI, including any interest you
will pay on the premium;
b) how long you would be insured for;
c) the monetary limits on the key benefits payable
under the insurance; and
d) the date your insurance ends, if that date is
different to the date on which the underlying
credit product ends.
163. Before we enter the contract with you, we will
ensure we have your express consent to acquire
the CCI product.
Separation of application process for CCI for credit
cards and Loans sold through digital channels
164. We will refer to the availability of CCI only after you
have completed the digital application for a credit
card or Loan.
165. We will let you know that whether you purchase
CCI or not has no bearing on whether we approve
you for a credit card or Loan.
166. We will use clear disclosure for CCI on credit cards
and Loans to enable customers, as they navigate
through the digital experience, to better understand
this type of insurance. This will be through:
a) use of filtering questions so that we alert you to
key policy exclusions such as age, residency
and employment status and if you are not
eligible to claim a significant part of the policy,
not offering this product;
b) disclosing the limits of the policy as part of the
process (the circumstances in which a payout
will be made and the amount of the payout);
c) disclosing any incentives you might receive from
taking out the CCI product and their effect;
d) telling you the total cost of the insurance (if
known) before you complete the CCI purchase;
e) telling you how the premium is to be paid; and
f) where the ongoing premium is calculated
as a percentage or a cost per dollar of the
outstanding debt or statement balance, then we
will tell you that cost and how we calculate it. 
Banking Code of Practice   | 31

PART D
When things go wrong
Part D applies both to individuals, in addition to the
hardship provisions under the   National Consumer Credit
Protection Act , and to Small Businesses.
D1 Contact us if you are
experiencing Financial Difficulty 
Contact us if you are experiencing Financial Difficulty 
167. If you are experiencing Financial Difficulty, then 
you, or your representative should contact us as
soon as possible. We will discuss your situation and
the options available to help you. The sooner you
contact us, the sooner we can try to help. 
What does ‘Financial Difficulty’ mean? 
168. Financial Difficulty means you are unable to repay
what you owe, you expect to be unable to pay
upcoming repayments, or you are experiencing
difficulty meeting your repayment obligations.
This can be as a result of an unexpected event or
unforeseen changes outside your control including
impacts from:
a) an illness or injury;
b) loss of employment;
c) a pandemic; or
d) natural disasters such as droughts, fires, floods 
and earthquakes (as declared by an Australian
Federal, State or Territory Government) or, if no
such declaration is made, where we are satisfied 
on other grounds that a natural disaster has
occurred. 
We will listen to your situation of Financial Difficulty 
169. When you contact us, or are thinking about
contacting us, it is important for you to be open,
and as realistic as you can be, about your financial
position. In turn, we will be compassionate in trying
to understand your situation and when discussing
any way we can help. 
We will give you a choice to have us deal with your
financial counsellor or representative 
170. If we are working with you to help you respond to
Financial Difficulties, then you can tell us to deal with 
your financial counsellor or representative, rather 
than dealing with you. To do this, you will need to
give us their contact details in writing.
171. However, we may deal with you directly again in the
following situations:
a) if you ask us to;
b) if we have made reasonable attempts to
contact, or deal with, your financial counsellor or
representative but we are unsuccessful; or
c) if your representative is not a financial counsellor, 
and:
i) we reasonably believe the representative is not
acting in your best interests; or
ii) it is otherwise reasonable to do so in the
circumstances.
If we decide to deal with you directly under (b),
or (c), we will tell you, and will suggest other free
alternatives that may be available to you. 
We will respond promptly to you or your representative 
172. We will respond promptly to you, or your
representative’s request to discuss your Financial
Difficulties.
We may contact you if you are experiencing
Financial Difficulty 
We may contact you if we think you are experiencing
Financial Difficulty 
173. We will employ a range of practices that can
identify common indicators of Financial Difficulty.
If we identify that you may be experiencing
difficulty paying what you owe under a Loan (or
are experiencing Financial Difficulty), then we may 
contact you to discuss your situation and the
options available to help you. We will do this on a 
32 | ausbanking.org.au

Restoring your financial position is possible 
Our financial hardship arrangements focus on situations
from which you can recover your financial position.
In these situations, we may be able to help you by:
•   agreeing to interest only payments for a short period;
•   extending the term of your Loan to reduce your
repayments; or
•   temporarily postponing or deferring payments.
These arrangements may require you to pay more interest
over the Loan term.
What you can do
In these circumstances, contact us and we will help you
work out what you need to do.
Restoring your financial position is unlikely
A permanent change to your financial situation may
mean it is now unlikely that your financial position can
be recovered — even if your existing Loan were to be
changed.
In that case, it may not be appropriate, for us to offer you
changes to any payment arrangements under the National
Credit Code’s financial hardship process. 
However, even in these circumstances, we may be able to
offer you help — for example, options may include:
•   agreeing on an alternative arrangement, plan or
contract;
•   changing the terms of your Loan;
•   giving you time to sell your property; or
•   giving information about bankruptcy or insolvency
arrangements.
What you can do
In these circumstances, contact us and we will help you
work out what you need to do.
We may refer you to people who can help you find a
financial adviser or financial counsellor. 
case-by-case basis. 
174.   If we are able to contact you and discuss your
situation under paragraph 173 and we offer
basic bank accounts that you are eligible for, we
will offer this product to you. 
We will try to help you if you are experiencing 
Financial Difficulty 
We will work with you to help you respond to 
Financial Difficulty 
175.   With your co-operation, we will work with you 
to help you find a sustainable solution to your
Financial Difficulties. Any help we can give will 
depend on your individual circumstances. We
provide help to customers on a case-by-case
basis. 
We will give you information about our Financial
Difficulty processes 
176.   We will make information publicly available
about our processes for working with customers 
in Financial Difficulty. 
What we will consider when deciding on assistance
options 
177.   When we are deciding whether, and how, to 
help you with Financial Difficulty, we will take 
into account the information available to us,
including information you give us about your 
financial situation. 
Examples of how we may help you if you are
experiencing Financial Difficulty 
178.   The table to the right sets out examples of steps
we may be able to take to help you in particular
situations. 
When we may waive your debt 
179.   In exceptional circumstances, we may look 
outside normal processes to find a way to 
assist you if you are experiencing long term
hardship as a result of a material change in
circumstances. 
180.   If you are an individual, we may, at our
discretion, reduce or waive your debt if it is an
unsecured personal Loan or credit card, on
a case-by-case basis and on compassionate
grounds, having regard to the following: 
a)   your individual circumstances; 
Banking Code of Practice   | 33

b) if you are unable to meet your repayments now
and in the future;
c) whether the hardship is genuine and being
caused by factors outside your control; and
d) our commercial considerations. 
We will tell you about the relevant National Credit Code
provisions if they apply 
181. We will tell you about the hardship provisions of the
National Credit Code if they apply to you. 
We will not require you to access your superannuation 
182. We will not require you to access your
superannuation to pay any amount you owe us
under a Loan (unless you are borrowing for a self-
managed superannuation fund). However, you
may wish to discuss this option with a financial
counsellor. You can also find out more about this
from the Department of Human Services, see
www.servicesaustralia.gov.au 
Other people who can assist you 
183. If you ask us to and where appropriate, we will refer
you to financial counselling organisations that may 
be able to help you. We may also recommend on
our own initiative that you seek independent advice
from a financial counsellor. 
We will tell you about our decision in writing 
184. We will tell you in writing:
a) whether we will provide you with help in relation
to your Financial Difficulty; and
b) the reasons for our decision.
185. If we agree to provide you with help in the form
of changes to your agreement with us, then we
will tell you in writing about the main details of the
arrangements, including:
a) the repayments you need to make under the
proposed new arrangement;
b) what will happen at the end of the new
arrangement; and
c) whether you accepting the proposed new
arrangement will have any adverse consequences
in relation to Banking Services or your credit
history (for example, an entry in your credit report
or cancellation of a Banking Service).
This does not apply to minor individual instances
of help we provide — for example: deferrals,
refunds or fee waivers.
When you are in Default
186. If you are a Small Business and you are in Default,
we will tell you if we report any payment Default
of yours under your Loan to a credit reporting
body. We will also tell you that you may be able to
independently obtain a copy of your report directly
from a credit reporting body, but will let you know
that not all credit reporting bodies may offer such
reports and that credit reporting bodies may charge
fees for accessing reports.
When we are recovering a debt 
We will comply with debt collection guidelines 
187. We will comply with the following guidelines in
relation to debt collection:
a) the ACCC’s and ASIC’s   Debt Collection
Guideline: for Collectors and Creditors ; and
b) the   Code of Operation: Recovery of Debts   from
Department of Human Services Income Support
Payments or Department of Veterans’ Affairs
Payments.
188. If we sell a debt to another party, we will:
a) only choose a party that has agreed to comply
with the above guidelines;
b) have processes in place to monitor how the
buyer is undertaking their collection activities to
recover an unsecured debt; and
c) require that the buyer consults with us prior
to commencing bankruptcy or insolvency
proceedings to recover an unsecured debt. 
What we will tell you if we sell your debt to another party
and we will not be your contact 
189. If we sell your debt to another party, and you will be
obliged to pay the debt to that other party, and we
will no longer be your contact, we will write to you
to let you know and to explain:
a) that we have sold your debt; and
b) who we have sold it to. 
We will not sell debt when we are considering your
financial situation 
190. We will not sell your debt to anyone else if:
a) we are actively considering your financial situation 
under either:
i) paragraph 175 of this Code; or
ii) the hardship variation provisions of the 
National Credit Code ; 
34 | ausbanking.org.au

b) you are complying with an arrangement that you
have made with us after we have considered
your financial situation; or
c) you are experiencing vulnerability and:
i) we are of the view that the vulnerability is likely
to be ongoing; and
ii) there is no reasonable prospect of the debt
being recovered.
191. However, we may transfer your debt in any of those
circumstances if the transfer:
a) is part of a funding arrangement — for example,
a securitisation or the issue of covered bonds or
similar funding arrangements; or
b) is part of a sale of Business or Business
restructure.
Combining your accounts 
We will inform you if we combine or set-off your accounts 
192. If we combine or set-off your accounts, including
using available funds in one of your accounts to
repay a debt you owe us, then we will promptly
inform you we have done so. 
When we cannot combine your accounts 
193. If you have an account that relates to any amounts
you owe us under a Loan that is regulated by the 
National Credit Code , then we may not combine
that account in any of the following circumstances:
a) while we are actively considering your financial
situation under either:
i) paragraph 175 of this Code; or
ii) the hardship provisions of the 
National Credit Code ;
b) while you are complying with an arrangement
you have made with us after we have considered
your financial situation; or 
c) if doing so breaches   Code of Operation:
Recovery of Debts   from Department of
Human Services Income Support Payments or
Department of Veterans’ Affairs Payments.
194. If we are considering your financial situation in any of 
the ways referred to in the above paragraph, then we
may require that you keep funds in an account until
we have decided whether to agree to your request.
D2 Complaints
195. You can make a Complaint about our Banking
Services or our compliance with the Code. Our
Complaints resolution process will comply with 
ASIC Regulatory Guide RG 271 : Internal dispute
resolution. If that Regulatory Guide does not
apply to you, we will act as though it does.   ASIC
Regulatory Guide RG 271   is available on ASIC’s
website and can be accessed via this link:
asic.gov.au/regulatory-resources/find-a-document/ 
regulatory-guides/rg-271-internal-dispute-
resolution.
196. We will ensure our process for handling your
complaint is fair and reasonable.
197. We will keep you informed on the progress of
your complaint.
198. We will give you the name of the team who is
handling your complaint and a way to contact them.
199. If we are unable to resolve your complaint within
30 days (or within 21 days if it involves a hardship
notice, default notice or request to postpone
enforcement under the National Credit Code),
we will:
a) tell you the reasons for the delay;
b) tell you the date by which you can reasonably
expect to hear the outcome of our investigation;
c) give you monthly updates on the progress;
d) tell you about your right to complain to AFCA if
you are dissatisfied; and
e) provide you with contact details for AFCA.
However, for complaints involving hardship notices
or postponement of enforcement, exceptions apply
to the 21 day timeframe if we do not have sufficient 
information to make a decision or we reach an
agreement with you. If we require further information
from you then we will request it within 21 days of
receiving the complaint. 
Banking Code of Practice   | 35

Term   Definition 
ABA   The incorporated entity named Australian Banking Association Limited (or any approved
change of name).
ACCC   Australian Competition and Consumer Commission.
AFCA   Australian Financial Complaints Authority.
ASIC   Australian Securities and Investments Commission.
Asset Finance   Financial accommodation provided by us:
(a) for the acquisition, lease, rental, hire purchase or otherwise of a tangible asset that is not
land; and/or
(b) to fund the payment of any insurance products acquired in connection with that asset.
ATM   Automatic teller machines.
AUSTRAC   Australian Transaction Reports and Analysis Centre.
Bank
Means a corporation authorised by law to carry on the general business of banking in
Australia and that is authorised under the   Banking Act 1959   ( Cth ) to use the word “bank”
or a similar expression in its name.
Banking Service   Means any financial service or product provided by us in Australia to you:
(a) whether supplied directly or through an intermediary; and
(b) if provided by another party and distributed by us, extends only to the distribution or
supply, and not to the service or product itself.
Examples of Banking Services the Code applies to:
•   savings accounts and term deposits;
•   credit cards, debit cards, prepaid cards;
•   home Loans, personal Loans, bill facilities, overdrafts (in the Code these are included in
the definition of “Loans”); 
•   consumer credit insurance;
•   payment services; and
•   foreign currency exchange services. 
PART E 
Definitions 
36 | ausbanking.org.au

Banking Service
(continued)
However, Banking Services the Code does not apply to include:
•   life or general insurance;
•   superannuation;
•   shares, bonds and other securities that we issue; and
•   financial products and financial services for the purposes of Chapter 7 of the 
Corporations Act, if you are a ‘wholesale client’ rather than a ‘retail client’. For the
purpose of this test under the Code, we will substitute the definition of ‘small business’ 
in subsection 761G(7)(b) of the Corporations Act with the definition of ‘Small Business’ 
under the Code. Where a Banking Service that is a financial product or service under 
Chapter 7 is provided to a ‘Small Business’ under the Code, the Code will not apply
where the Small Business is otherwise deemed a wholesale client under Chapter 7.
BCCC   Banking Code Compliance Committee.
BCCC Charter   means the charter of the BCCC as amended from time to time.
BSB   A digital address that identifies a financial institution and its particular administration centre, 
processing centre, branch or office. 
Business
A customer is treated as a business if they apply for, or receive, a Banking Service for a
purpose that is wholly or predominantly a trading or commercial purpose, and where the
National Credit Code does not apply.
Card Scheme   Mastercard, Visa, eftpos, American Express, Union Pay or Diners Club.
Code   The 2025 Banking Code of Practice as published by the ABA, as amended from time to
time.
Commercial Asset
Financing   Asset finance provided by us to a Business. 
Commercial Asset
Financing Guarantor
A Guarantor that is a director, shareholder or manager of a company, that has provided a
guarantee for the company’s Commercial Asset Financing.
Complaint
An expression of dissatisfaction made to or about us in relation to our products, services,
staff or the handling of a Complaint, where a response or resolution is explicitly or implicitly
expected or legally required, as per ASIC guidelines.
Consumer Credit
Insurance or CCI
Insurance that provides cover if you can't meet the repayments on your Loan because you
lose your job, you are sick or injured, or you die.
Corporations Act   Corporations Act 2001   (Cth).
Days   Calendar days, unless otherwise stated.
Deceased Estate   An estate includes all of a person's property, assets and liabilities. A deceased estate refers
to all of the property, assets and liabilities belonging to the person when they died. 
Banking Code of Practice   | 37

Deceased Estate
Representative
The person who is entitled at law to deal with the Deceased Estate, who may be:
•   a person(s) nominated as Executor in the last Will of the deceased person;
•   a person(s) who has presumptive entitlement to Letters of Administration; or
•   in limited circumstances, the Next of Kin.
Our determination of a person(s) entitled to be a Deceased Estate Representative will
depend on documents provided following the death of the customer and/or following an
order from a court. There may be more than one Deceased Estate Representative (for
example, if there are two Executors appointed in the Will).
Default   You are ‘in default’ if you fail to meet any of the Terms and Conditions of the contract.
Default Based Action   Exercising a legal or contractual right as a direct result of an event of Default.
Default Interest   Is the application of a higher annual percentage rate applicable under a Loan because you
are in Default, for the period that the Default continues.
Device   A device given by us to you that is used to perform a transaction.
Examples include:
(a) ATM cards;
(b) debit cards and credit cards, whether physical or virtual;
(c) prepaid cards (including gift cards), whether physical or virtual;
(d) electronic toll devices;
(e) tokens issued that generates a pass code; and
(f) contactless devices.
Direct Debits
The regular payments from a deposit account. This is where you have given your deposit
account details (BSB and account number) to allow a Merchant or service provider to debit
your account regularly to pay for the services they provide you.
Director Guarantor   A Guarantor of a Loan who is a director of a company which is to be the debtor for the
Loan.
eftpos   Proprietary or domestic debit cards managed by eftpos Payments Australia Limited.
Eligible Customer   Has the meaning given to it in paragraph 65.
Enforcement
Proceedings
For a Small Business:
(a) commencing proceedings in a court to recover a debt or to recover possession of
property subject to Security; or
(b) otherwise enforcing Security by taking possession (or seeking to take) of Security
property, exercising a power of sale over Security property, appointing receivers or
receivers and managers, appointing voluntary administrators, or making application to
a court for the appointment of provisional liquidators or the appointment of a trustee in
bankruptcy; or
(c) enforcing a judgment against you, a Guarantor, or your or their assets. 
38 | ausbanking.org.au

Executor   Means the person(s) nominated to administer and distribute the Deceased Estate in the Will.
Farmer   As defined in section 4 of the   Farm Debt Mediation Act 1994   (NSW) (meaning a person
(whether an individual person or a corporation) who is solely or principally engaged in a
Farming Operation and includes a person who owns land cultivated under a share-farming
agreement and the personal representatives of a deceased farmer).
Farming Operation   Is as defined in section 4AB of the   Farm Debt Mediation Act 1994   (NSW) as meaning a
Business undertaking that primarily involves one or more of the following activities:
(a) agriculture (for example, crop growing and livestock or grain farming);
(b) aquaculture;
(c) the cultivation or harvesting of timber or native vegetation; and/or
any activity involving primary production carried out in connection with an activity referred to
in paragraphs (a)-(c).
Financial Difficulty   Financial Difficulty has the meaning given to it in paragraph 168. 
Grant of Probate
Means a court order granted by the Supreme Court (of the relevant state or territory) that
confirms the Will is valid, and the Executor(s) has/have authority to administer and distribute 
the Deceased Estate.
Guarantor   An individual who gives a guarantee and/or indemnity to secure a Loan that we give to
another individual or to a Small Business to which Part B6 of the Code applies.
Informal Overdraft   Has the meaning given to it in paragraph 65.
Letters of Administration
Means a court order granted by the Supreme Court (of the relevant state or territory) which
allows the administrator(s) (the person who is appointed by the Court) to administer and
distribute the Deceased Estate where there is no Grant of Probate
Loan   The credit or financial accommodation provided to you under the Banking Service, including, 
but not limited to, credit facility, credit contract, loan facility, home loan, personal loans, bill
facilities, overdrafts, commercial Asset Finance.
Merchant   A provider of goods and services.
National Credit Code   The National Credit Code set out in Schedule 1 of the   National Consumer Credit Protection Act .
National Consumer
Credit Protection Act   National Consumer Credit Protection Act 2009   (Cth).
Next of Kin   Ordinarily, this means the deceased customer's closest living relative who is 18 years or
older identified on the deceased’s death certificate and who is entitled at law to deal with the 
Deceased Estate, however this will need to be determined on a case by case basis.
No Overdrawn Fees   Has the meaning given to it in paragraph 65.
No Dishonour Fees   Has the meaning given to it in paragraph 65. 
Banking Code of Practice   | 39

Partnership Guarantor   A Guarantor of a Loan who is a partner of a partnership, and that partner is to be a debtor
for the Loan.
Recurring Payments   The regular payments from credit or debit cards. This is where you have given your credit
or debit card details (card number, expiry date and security code) to allow a Merchant or
service provider to charge your credit or debit card regularly to pay for the services they
provide you.
Related Entity   As defined in section 9 of the   Corporations Act .
Security   Includes, without limitation, mortgage of and a security interest within the meaning of the 
Personal Property Securities Act 2009   (Cth).
Small Business   What is a “Small Business”?
A Business customer is a “Small Business” if at the time it obtains the Banking Service it
satisfies the Small Business test below. 
If the customer is part of a Business Group (as defined below), then this test is applied to the 
Business Group.
Where two or more customers obtain a Business Banking Service jointly (such as joint
borrowers or joint account holders), the customers are assessed jointly under the below
“Small Business” test, together with each other entity that would form part of any of the
customers’ Business Group.
The “Small Business” test
A Business customer is a “Small Business” if the customer, or its Business Group (if
applicable):
(a) had an annual turnover of less than $10 million in the previous financial year; and 
(b) has fewer than 100 full-time equivalent employees; and
(c) has less than $5 million total debt to all credit providers (other than debt to which
the National Credit Code applies, and without double counting, debt owed between
members of a Business Group) including:
i) any undrawn amounts under existing Loans; and
ii) any Loan being applied for.
Businesses that are never “Small Businesses”
Despite anything above, a Business customer is not a “Small Business” if it is:
(a) listed on an Australian or overseas stock exchange;
(b) a partnership or joint venture with more than 20 partners or venturers;
(c) a government entity;
(d) an Australian Prudential Regulation Authority (APRA) regulated entity;
(e) an Australian Financial Services Licensee that is authorised under its licence to operate
registered managed investment schemes as a responsible entity, to provide custodial and
depository services, or to operate a corporate collective investment vehicle;
(f) a corporate collective investment vehicle; or
(g) a member of a Business Group that includes any of the above. 
40 | ausbanking.org.au

Small Business
(continued)
Business Group
The following entities are considered part of a customer’s Business Group for the purpose of
the above “Small Business” test:
(a) the customer;
(b) each entity the customer controls;
(c) each entity which controls the customer; and
(d) each other entity which is controlled by an entity referred to in (c).
An entity includes a natural person, corporation, trust, partnership and joint venture.
Control
An entity controls another entity if it:
(a) is a director or trustee of the entity;
(b) is a partner or joint venturer in the entity, and there are no more than 4 partners or joint
venturers in that entity; or
(c) has a shareholding, voting interest, unit holding, partnership, joint venture, or other
interest in the entity of 25% or greater.
Control includes direct control, and indirect control through other controlled entities.
Sole Director Guarantor   A Guarantor of a Loan who is a director of a company that has only one director, and that
company is to be the debtor for the Loan.
Standard Fees and
Charges
Fees and charges normally charged by us in respect of a Banking Service.
Terms and Conditions   Terms and conditions specifically applied by us to a Banking Service but does not include
any other terms and conditions that may apply by operation of law.
Trustee Guarantor
A Guarantor of a Loan where:
(a) the Guarantor and the debtor are the same person; and
(b) that person is acting as trustee of a trust in one of these roles and is acting in their
personal capacity in the other role.
Unauthorised
Transaction
A transaction that is not authorised by you. It does not include any transaction that is
performed by you or by anyone who performs a transaction with your knowledge and
consent.
Vehicle Asset Financing   Asset finance provided by us to an individual that is not a Business, in relation to a motor
vehicle and/or any related insurance products.
Vehicle Asset Financing
Guarantor
A Guarantor who has provided a guarantee for the vehicle Asset Finance of an individual
that is not a Business.
“we”, “us” and “our”   The Bank that you deal with that has signed up to the Code.
Will
A legal document typically nominating a person(s) to administer the Deceased Estate and
with directions for how the deceased would like their property and other assets distributed
after their death.
“you”, “your” and
“customer”
Unless defined otherwise, a person to whom the Code applies under paragraph 1 of the
Code. 
Banking Code of Practice   | 41

Transitional Period Rules
For the purpose of this section, the transition date means 28 February 2025.
Application to Banking Services
This Code will apply to Banking Services for which
you enter into an agreement with us on or after the
transition date. For ongoing Banking Services that we
were providing you as at the transition date or where
documentation was sent to you before the transition date:
(a) the Terms and Conditions of that Banking Service
need not comply with this Code and will continue
to apply even if they are inconsistent with this
Code. If we provide you with revised Terms and
Conditions after the transition date, those revised
Terms and Conditions will comply with this Code;
(b) this Code applies where it relates to matters that
are not specifically dealt with in the Terms and
Conditions of that Banking Service; and
(c) this Code does not affect things we did in relation
to that Banking Service before the transition date.
If our Banking Service arrangements with you as
at the transition date complied with the relevant
previous version of the Code, they will continue
to comply with this Code even if this Code would
have required something to be done differently.
Application to guarantees
This Code will apply to every guarantee which you enter
into on or after the transition date. For guarantees that
you entered into before the transition date or where
documentation was sent to you before the transition date:
(a) the Terms and Conditions of that guarantee
need not comply with this Code and will continue
to apply even if they are inconsistent with this
Code. If we provide you with revised Terms and
Conditions after the transition date, those revised
Terms and Conditions will comply with this Code;
(b) if after the transition date we ask you to increase
the limit of your guarantee, we will comply with the
relevant provisions of this Code;
(c) this Code applies where it relates to matters that
are not specifically dealt with in the Terms and
Conditions of that guarantee; and
(d) this Code does not affect things we did in relation
to the guarantee before the transition date. If
our guarantee arrangements with you as at
the transition date complied with the relevant
previous version of the Code, they will continue
to comply with this Code even if this Code would
have required something to be done differently. 
42 | ausbanking.org.au

Banking Code of Practice   | 43

---

# Source: https://www.boq.com.au/personal/help-and-support/forms-and-important-information/exception-fees

Style

Info-Details

# Exception Fees Policy

Fees you may be charged if your account becomes overdrawn

### Review of Terms and Conditions relating to Exception Fees{yellow-border}

BOQ have reviewed the terms and conditions that govern its products, and in particular how these relate to exception fees. BOQ is committed to educating consumers through our website and in branch about these fees and how they can be avoided. BOQ will also continue to investigate alternatives for customers to avoid paying these types of fees.

#### Exception Fees Policy

BOQ discloses a variety of fees and charges in its Terms and Conditions books. These terms and conditions govern how your account is operated by the Bank.

This page specifically deals with the types of fees you may be charged if your account becomes overdrawn or if the Bank makes the decision to honour a payment on your behalf.

#### Deposit Accounts

**Overdrawn Fee**

Charged on your account on the day where drawings are paid by the Bank and the account subsequently becomes overdrawn without prior approved arrangements, or where an approved overdraft limit is exceeded.

_The above fee is charged when Bank of Queensland decides to honour your payment when there are insufficient funds to cover it, to save you the embarrassment and inconvenience of having the payment dishonoured._

**Outward Dishonour**

Charged to your account on the day when any drawing on your account (cheque, direct debit, transfer order, Credit Card Saver transfer) is dishonoured due to lack of available funds, irregularity of drawing or stop payment request.

_The above fee is charged if you have insufficient balance in your account to cover any drawings, and the Bank has to return the item as unpaid._

#### Credit Cards

**Late Payment Fee**

If the minimum payment is not made on your credit card account by the due date, as indicated on your statement, a late payment fee will be applied to the account.

_In order to avoid paying the late payment fee, you must pay the minimum repayment (as set out on your statement) between the statement date and the due date for payment. By using our Credit Card Saver feature you can set up an automatic payment each month for either the minimum, the full amount or a fixed amount to ensure you do not incur a late payment fee._

**Over-Limit Fee**

If the balance outstanding on your credit card is more than 1% over the credit limit in any statement period, an over-limit fee will be applied to your account.

_You can avoid paying the over-limit fee by following the steps outlined below. In addition, if you feel a higher limit is necessary in the long term, you can apply for a credit limit increase._

#### Tips to avoid these fees

All of these fees can be avoided by doing a few simple things:

* Regularly check your account balance. You can do this for free:  
   * in a Bank of Queensland branch  
   * using a BOQ ATM  
   * through Internet Banking  
   * through an SMS when using Internet Banking  
   * through EasyPhone Banking  
   * on your regular statement
* Keep a record of when your regular payments are due to come out of your account (and make sure you have sufficient balance to cover the amount). Add up the total of your regular payments and try to keep that amount in your account as a floating balance.
* Check your account balance before you write out a cheque and ask the recipient of the cheque to contact you when they present the cheque so you can be sure there will be sufficient balance in your account.
* Set up regular payments yourself through Internet Banking. You can then manage them yourself and amend the amount to be transferred or cancel the payment if needed etc.
* Receive a SMS alert for any successful or failed future-dated Pay Anyone transactions that you setup through Internet Banking.
* Arrange for a personal overdraft facility on your transaction account.

**[Terms and Conditions](https://www.boq.com.au/personal/help-and-support/forms-and-important-information/terms-and-conditions/)**

**[Exception Fees Policy](https://www.boq.com.au/personal/help-and-support/forms-and-important-information/exception-fees)**

**[Banking code of practice](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/code-of-banking-practice.pdf)**

**[Target Market Determinations](https://www.boq.com.au/personal/help-and-support/forms-and-important-information/tmd)**

**[Availability of Payment Services](https://www.boq.com.au/personal/help-and-support/forms-and-important-information/availability-of-payment-services)**

**[Business banking terms and condition changes](https://www.boq.com.au/personal/help-and-support/forms-and-important-information/changes-terms-and-conditions)**

**[BOQ privacy policy and notice](https://www.boq.com.au/personal/help-and-support/forms-and-important-information/privacy/)**

Style

layout-cols-33-66, bg-light-grey

### We’re here to help{yellow-border}

#### 1300 55 72 72

[Call our contact centre](tel:1300557272)

#### Email us

[Get in touch](https://www.boq.com.au/contact-us/)

#### **Locate us**

[Find a branch or ATM](https://find.boq.com.au/)

---

# Source: https://www.boq.com.au/personal/help-and-support/forms-and-important-information/terms-and-conditions/

# Terms and Conditions

Important information for BOQ banking{sub-heading}

## Terms and conditions{yellow-border}

#### Terms and Conditions for the myBOQ Everyday Account, Future Saver, Smart Saver, Simple Saver and Term Deposit

* [myBOQ Deposit Account Interest Rates, Transaction Limits, Fees and Charges](https://www.boq.com.au/content/dam/boq/mobile-app/boq-app/files/myboq-deposit-account-interest-rates-transaction-limits.pdf)
* [myBOQ Deposit Accounts General Terms and Conditions](https://www.boq.com.au/content/dam/boq/mobile-app/boq-app/files/myboq-deposit-accounts-general-terms-and-conditions.pdf)
* [myBOQ PayID Terms and Conditions](https://www.boq.com.au/content/dam/boq/mobile-app/boq-app/files/myboq-payid-terms-and-conditions.pdf)
* [myBOQ Digital Wallet Terms and Conditions](https://www.boq.com.au/content/dam/boq/mobile-app/boq-app/files/digital-wallet-terms-and-conditions.pdf)
* [myBOQ Mobile App Terms of Use](https://www.boq.com.au/content/dam/boq/mobile-app/boq-app/files/myboq-mobile-app-terms-of-use.pdf)
* [myBOQ Electronic Identity Verification Disclosure](https://www.boq.com.au/content/dam/boq/mobile-app/boq-app/files/my-boq-electronic-identity-verification-disclosure.pdf)
* [myBOQ Privacy Notice & Consent](https://www.boq.com.au/content/dam/boq/mobile-app/boq-app/files/privacy-notice-and-consent.pdf)

#### BOQ Financial Services Guide

This guide contain information about the financial services we provide, it covers the commission’s staff may receive and the Bank's internal and external dispute resolution processes.

* [BOQ Financial Services Guide](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/boq-financial-services-guide.pdf)

#### Fees and Charges

You can find out about our fees and charges for personal and business banking services by viewing these booklets:

* [Personal Banking Guide to Fees and Charges](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/personal/personal-banking-guide-to-fees-and-charges.pdf)
* [Business Banking Guide to Fees and Charges](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/business/business-banking-guide-fees-and-charges.pdf)
* [Break Cost Fact Sheet](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/personal/break-cost-fact-sheet.pdf)

#### Personal Banking Terms and Conditions

* [Deposit Products Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/personal/deposit-products-terms-and-conditions.pdf)
* [Personal Lending Supplementary Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/personal/personal-lending-supplementary-terms-and-conditions.pdf)
* [Save to Win Account ™ Combined Financial Services Guide and Product Disclosure Statement](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/save-to-win-pds-and-fsg.pdf)
* [Save to Win Account ™ Promotion Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/save-to-win-promotion-terms-and-conditions.pdf)
* [Save to Win Account - Important Information](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/save-to-win-account-important-information.pdf)
* [Term Deposit Break Cost Fact Sheet](https://www.boq.com.au/content/dam/boq/files/personal/savings-and-deposits/term-deposit-break-cost-fact-sheet.pdf)
* [Bank of Queensland Bonds Product Disclosure Statement](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/boq-bonds-product-disclosure-statement.pdf)
* [BOQ Visa Gift Card Promotion Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/visa-gift-card-terms-conditions.pdf)

#### Credit Card Terms and Conditions & useful forms

* [Credit Card Fees and Charges Guide{external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/credit-card-fees-and-charges-guide.pdf)
* [Credit Card Terms and Conditions and Other Important Information{external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/credit-card-terms-and-conditions.pdf)
* [Privacy Notice{external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/privacy-consent-statement.pdf)
* [BOQ Credit Cards Complimentary Insurance Policy Information Booklet{external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/credit-cards-complimentary-insurance-terms-and-conditions.pdf)
* [Q Rewards Terms and Conditions{external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/qrewards-terms-conditions.pdf)
* [Click to Pay Terms and Conditions{external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/click-to-pay-terms-and-conditions.pdf)
* [BOQ Platinum Visa Credit Cards Complimentary Mobile Phone Insurance Terms and Conditions {external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/platinum-credit-card-mobile-phone-insurance.pdf)
* [Direct Debit (Autopay) Request form{external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/direct-debit-request-form.pdf)
* [Change of Name form (credit card accounts only){external-link}](https://www.boq.com.au/content/dam/boq/files/personal/change-of-name-form.pdf)
* [Change in Date of Birth Form{external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/credit-card-change-date-of-birth-form.pdf)
* [Power of Attorney Request Form{external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/credit-card-power-of-attorney-form.pdf)
* [Authorised Person Request Form{external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/credit-card-authorised-person-form.pdf)
* [Application for Financial Hardship Assistance{external-link}](https://www.boq.com.au/content/dam/boq/files/help-and-support/financial-hardship/credit-card-hardship-cover-sheet.pdf)
* [Financial Difficulty Letter of Authority{external-link}](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/letter-of-authority.pdf)
* [Unclaimed Monies Form{external-link}](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/refund-of-unclaimed-monies-request.pdf)

#### Insurance Terms and Conditions

* [Insurance Financial Services Guide (FSG)](https://www.insurance.boq.com.au/partner/documents#financial-services-guide)
* [Honey PDS & TMD (Home & Contents, Landlord & Motor Insurance)](https://www.insurance.boq.com.au/partner/documents#household-insurance)
* [BOQ Insurance 50% Offer Terms and Conditions](https://www.insurance.boq.com.au/partner/offer-terms-and-conditions/?campaignName=BOQ%5Fhomelending%5Fprepaid%5Fgiftcard)

#### Business Banking Terms and Conditions

* [Business Transaction and Investment Accounts Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/business/transaction-and-investment-accounts-terms-and-conditions.pdf)
* [Business Lending Supplementary Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/business/business-lending-supplementary-terms-conditions.pdf)
* [Foreign Currency Facilities Product Disclosure Statement October 2025](https://www.boq.com.au/content/dam/boq/files/business/financial-markets-and-international-services/foreign-currency-facilities-pds-october-2025.pdf)
* [Facility General Conditions March 2026](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/facility-general-conditions.pdf)
* [Facility General Conditions June 2024](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/facility-general-conditions-june-2024.pdf)
* [Key Terms Summary - General Business Facilities](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/business/key-terms-summary-general-business-facilities.pdf)
* [Key Terms Summary - Aggregate Trade Facility](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/business/key-terms-summary-aggregate-trade-facilities.pdf)
* [Aggregate Trade Facility - General Conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/business/aggregate-trade-facility-general-conditions.pdf)
* [International Trade Enabler Customer Access Agreement - General Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/business/financial-markets-and-international-services/international-trade-enabler-general-terms-and-conditions.pdf)
* [International Trade Enabler Customer Access Agreement - Annexure for Trade Finance Facilities](https://www.boq.com.au/content/dam/boq/files/business/financial-markets-and-international-services/international-trade-enabler-annexure.pdf)
* [BOQ Equipment Finance General Terms](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/business/boqef-general-terms.pdf)
* [Unregulated Guarantee Indemnity General Conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/business/unregulated-guarantee-indemnity-general-conditions.pdf)
* [Unregulated Guarantee Indemnity General Conditions November 2023](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/business/unregulated-guarantee-and-indemnity-general-conditions-nov-2023.pdf)

#### Digital Wallet Terms and Conditions

* [Digital Wallet Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/boq-digital-wallet-terms-conditions.pdf)

**Current Credit Card Digital Wallet Terms and Conditions**

* [Apple Pay Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/apple-pay-terms-conditions.pdf)
* [Samsung Pay Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/samsung-pay-terms-conditions.pdf)
* [Google Pay Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/google-pay-terms-conditions.pdf)

**Effective 24 November 2025 Credit Card Digital Wallet Terms and Conditions**

* [Apple Pay Terms and Conditions Effective 24 November 2025](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/apple-pay-terms-conditions.pdf)
* [Samsung Pay Terms and Conditions Effective 24 November 2025](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/samsung-pay-terms-conditions.pdf)
* [Google Pay Terms and Conditions Effective 24 November 2025](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/google-pay-terms-conditions.pdf)

#### Electronic Banking Terms and Conditions

* [BOQ Electronic Banking Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/electronic-banking-terms-conditions.pdf)
* [myBOQ Home Loan Electronic Banking Terms and Conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/electronic-banking-terms-and-conditions.pdf)

#### Interest Rates

You can find out about our Interest Rates for personal and business banking services by viewing these flyers:

* [Personal Deposits - Interest Rates](https://www.boq.com.au/personal/help-and-support/rates-and-fees/savings-accounts-interest-rates)
* [Business Deposits - Interest Rates](https://www.boq.com.au/business/todays-business-interest-rates/business-account-interest-rates)

#### Banking Code of Practice

Bank of Queensland Limited ABN 32 009 656 740 (BOQ) AFSL and Australian Credit Licence No 244616 subscribes to the Banking Code of Practice. The Code regulates how we communicate with our customers and handle customer complaints, minimum standards of disclosure regarding our products and services and BOQ’s obligations to assist customers who may be 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.

* [Banking Code of Practice](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/code-of-banking-practice.pdf)

#### BOQ Credit Guides

* [BOQ Credit Guide](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/boq-credit-guide.pdf)
* [BOQ Credit Guide (NAB)](https://www.boq.com.au/content/dam/boq/files/personal/credit-cards/boq-credit-guide.pdf)

#### Additional Information

Additional information is also available through:

* [Australian Bankers Association](https://www.ausbanking.org.au/)
* [Family Law Court Guidelines](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/family-law-court-guidelines.pdf)

#### Competition terms and conditions

* [BOQ Business Event Gift Card terms and conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/boqb-event-giftcard-terms-conditions.pdf)
* [BOQB Hole-in-One Competition terms and conditions](https://www.boq.com.au/content/dam/boq/files/terms-and-conditions/BOQB-Hole-in-One-Competition-TCs.pdf)

#### Privacy notices

* [BOQ Privacy Policy](https://www.boq.com.au/content/dam/boq/files/about-us/corporate-governance/boq-privacy-policy.pdf)
* [BOQ Privacy Notice & Consent](https://www.boq.com.au/content/dam/boq/files/about-us/corporate-governance/privacy-notice-and-consent.pdf)
* [BOQ Privacy Collection and Credit Reporting Notice](https://www.boq.com.au/content/dam/boq/files/about-us/corporate-governance/privacy-collection-credit-reporting-notice.pdf)
* [Business Bank Privacy Collection and Credit Reporting Notice](https://www.boq.com.au/content/dam/boq/files/about-us/corporate-governance/business-privacy-collection-credit-reporting-notice.pdf)
* [Comprehensive Credit Reporting (CCR)](https://www.boq.com.au/personal/help-and-support/forms-and-important-information/privacy/credit-reporting)

Style

layout-cols-33-66, bg-light-grey

## We're here to help.{yellow-border}

#### 1300 55 72 72

[Call our Customer Contact Centre](tel:1300557272)

#### Email us

[Get in touch](https://www.boq.com.au/contact-us/)

#### Locate us

[Find a branch or ATM](https://find.boq.com.au/)

---

− Removed

\* Bank@PostTM and its device mark are trademarks (registered or otherwise) of the Australian Postal Corporation. All rights reserved.

---

# Source: https://www.boq.com.au/personal/help-and-support/rates-and-fees/home-loan-rates-owner-occupier

# Owner Occupied Home Loan Rates

View today's home loan interest rates for owner occupiers{sub-heading}

**[Compare home loan rates](https://www.boq.com.au/personal/home-loans/)**

_[View investor home loan rates](https://www.boq.com.au/personal/help-and-support/rates-and-fees/home-loan-rates-investor)_

## Owner Occupier Interest Rates{yellow-border}

Get a snapshot of the range of fixed and variable interest rates you would receive when you take out an owner occupier home loan.

[/fragment/help-and-support/rates-and-fees/home-loans/owner-occupier/variable-rate](https://www.boq.com.au/fragment/help-and-support/rates-and-fees/home-loans/owner-occupier/variable-rate)

Tab Title

#### Variable Rate Home Loans

[/fragment/help-and-support/rates-and-fees/home-loans/owner-occupier/fixed-rate](https://www.boq.com.au/fragment/help-and-support/rates-and-fees/home-loans/owner-occupier/fixed-rate)

Tab Title

#### Fixed Rate Home Loans

Style

layout-cols-33-66, small-button

## View Investor Home Loan rates{yellow-border}

#### Investment Property

Compare Investment property home loan interest rates.

[View interest rates](https://www.boq.com.au/personal/help-and-support/rates-and-fees/home-loan-rates-investor)

#### Compare our home loans

Find the rate that's right for you and what your repayments could be.

[Compare home loan interest rates](https://www.boq.com.au/personal/home-loans/)

[/fragment/personal/home-loans/got-questions](https://www.boq.com.au/fragment/personal/home-loans/got-questions)

Style

bg brand highlight

## Explore our tools and resources for owner occupiers{yellow-border}

#### Borrowing power calculator

Calculate how much you can borrow & estimate home loan repayments with BOQ’s borrowing power calculator

[Calculate borrowing power{icon-button}](https://www.boq.com.au/personal/help-and-support/tools-calculators/borrowing-power-calculator)

#### Loan repayments calculator

Calculate your home loan repayments using fixed or variable interest rates over a range of terms.

[Calculate repayments{icon-button}](https://www.boq.com.au/personal/help-and-support/tools-calculators/loan-repayment-calculator)

#### Questions about changing interest rates?

Calculate what your home loan repayments could look like with rate changes and learn what that means for you.

[Visit our interest rate hub{icon-button}](https://www.boq.com.au/personal/help-and-support/home-loans/interest-rate-hub)

## Need more home loan help?{yellow-border}

### Buying Your First Home

We go the extra mile to help you buy your first home, with low rates and personalised support from start to finish.

[Explore your options](https://www.boq.com.au/personal/home-loans/buying-your-first-home)

### Refinance Your Home Loan

Switch to a BOQ home loan and enjoy great interest rates and a more personal approach to your banking.

[Switch to a BOQ home loan](https://www.boq.com.au/personal/home-loans/home-loan-refinancing)

### Buying Your Next House

Whether you're upgrading or downsizing or buying a holiday home, we’re here to help you with your next move.

[Find help with your next move](https://www.boq.com.au/personal/home-loans/buying-your-next-home)

### Important Information

Credit provided by Bank of Queensland Limited ABN 32 009 656 740 (Australian Credit Licence Number 244616) (BOQ). Fees and charges payable. BOQ's standard credit assessment criteria apply. Full terms and conditions are available at any BOQ branch. Interest rates quoted are indicative only, and are subject to change without notice.

Interest rates are current as at {current-date} and are for new lending only. Fixed interest rates may vary between application and drawdown of the loan. A rate lock fee can be paid at application to secure the initial fixed rate for 100 days. For eligible Top Up loan applications, the interest rate or package tiers (if applicable) disclosed in your original loan schedule will apply.

| Fragment                                                                                                                           |                                       |
| ---------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------- |
| [/fragment/terms-and-conditions/home-loans/home-loans](https://www.boq.com.au/fragment/terms-and-conditions/home-loans/home-loans) | 11, \~, +, ++, +++, ##, ###, \*, \*\* |

---

# Source: https://www.boq.com.au/personal/help-and-support/rates-and-fees/interest-rate-hub

# Navigating Interest Rate changes

Explore our hub for useful home loan guides and easy tools.{sub-heading}

Style

layout-cols-33-66-must, small-button

## BOQ interest rate update

On Wednesday 30 September 2026, BOQ announced interest rate changes for variable home loan customers, following the Reserve Bank of Australia’s (RBA) decision to increase the cash rate by 0.25%.

* From **Friday 2 October 2026**, BOQ will increase variable BOQ Classic home loan and business loan interest rates by 0.25% per annum (p.a.) for new and existing customers (excluding commercial rate loans).
* From **Saturday 3 October 2026**, BOQ will increase variable myBOQ digital home loan interest rates by 0.25% per annum (p.a.) on the Essential and Plus Home Loans for new and existing customers.

Our customers will receive a notification from us in the coming weeks to confirm your new interest rates and minimum repayment (where applicable).

Style

layout-cols-33-66-must, small-button

## How rate changes impact your Home Loan

As interest rates change, you may be wondering what this means for your home loan. We understand the importance of staying informed and being prepared.

#### Fixed Loans

If you have a fixed rate loan, your repayments stay the same for the duration of the fixed rate period. When your fixed rate period ends, your loan will revert to a variable rate. If rates have changed during this time, your repayments may change to reflect this.

#### Variable loans

If you have a variable rate loan, your repayments may change if interest rates change. The tools below can help you to calculate how an interest rate change can affect your loan repayments.

Style

layout-cols-33-66-must, small-button

## Financial Difficulty Assistance

If you’re worried you can't pay what you owe, won't be able to manage your upcoming repayments, or you’re having difficulty meeting your repayments, please get in touch - we’re here to help.

For more information, please visit our [Financial Difficulty Assistance](https://www.boq.com.au/help-and-support/assistance) page.

## Paying off your home loan

Find the best loan to suit your current situation.

### Review your home loan

Find out if your home loan is still a good fit by booking an easy and free Home Loan Review with a BOQ home loan specialist today.

[Start review{icon-button}](https://www.boq.com.au/personal/home-loans/home-loan-review)

### Offset account

Reduce your interest and pay off your home loan faster.

[Learn about offset{icon-button}](https://www.boq.com.au/personal/home-loans/mortgage-offset-account)

### Split your loan

Get the best of fixed and variable rates with a loan that fits your lifestyle.

[Read about splitting{icon-button}](https://www.boq.com.au/personal/home-loans/manage-home-loans/changing-home-loan/split-home-loan)

### Fix your loan

Have the certainty of your home loan repayments at a really great rate.

[Learn about fixing{icon-button}](https://www.boq.com.au/personal/home-loans/fixed-rate-home-loan)

Style

bg-light-grey

Style

layout-cols-33-66-must, small-button

## Review the numbers

Our calculators can help homeowners budget for their repayments.

In the event of interest rate changes, it’s good to be prepared so you can budget for your home loan.

Our calculators can help you work out what your new repayments will be, how much you can borrow, and the best home loan for you out of fixed, variable, or split repayments.

#### [Loan repayment calculator](https://www.boq.com.au/personal/tools-and-calculators/loan-repayment-calculator)

See how much you can expect to repay on your loan

#### [Borrowing power calculator](https://www.boq.com.au/personal/help-and-support/tools-calculators/borrowing-power-calculator)

Discover your borrowing capacity

#### [Split loan calculator](https://www.boq.com.au/personal/tools-and-calculators/split-loan-simulator)

Calculate your repayments based on fixed or variable terms

Style

layout-cols-33-66-must, small-button

## Your financial future

Tips and tools to help you budget and manage your home loan.

### Economic updates

Keep up to date with the latest economic and interest rate updates.

[Read updates{icon-button}](https://www.boq.com.au/blog/economic-update)

### Manage debt

Three things you can try if you’re struggling with debt.

[Learn about debt{icon-button}](https://www.boq.com.au/blog/life-moments/struggling-to-pay-your-debts-three-things-you-should-consider-doing)

### Budgeting

Our budget planner can help you set a plan you can stick to.

[Budget planner{icon-button}](https://www.boq.com.au/personal/tools-and-calculators/budget-planner)

### Savings tips

Learn 10 easy ways to cut costs every day.

[Read saving tips{icon-button}](https://www.boq.com.au/blog/personal-finance/10-every-day-money-saving-tips)

### Offset, redraw or top up?

Find the right features to help make the most of your home loan.

[Learn features{icon-button}](https://www.boq.com.au/blog/property/offset-redraw-top-up)

### Fixed, variable or split?

Find the best interest rate option for your situation.

[Read options{icon-button}](https://www.boq.com.au/blog/property/fixed-vs-variable-vs-split)

Style

layout-cols-33-66, small-button

## **Frequently asked questions**

#### What causes my variable home loan rate to change?

The Reserve Bank of Australia (RBA), the nation’s central bank, sets the cash rate to help manage the Australian economy. This rate determines the interest banks pay to borrow funds and directly impacts mortgage rates. The RBA reviews the cash rate eight times a year, deciding whether to raise, hold, or cut the rate. Lenders may pass these changes on to their borrowers.

Lenders may also adjust home loan rates independent of the RBA. These changes are often influenced by factors such as shifts in funding costs, market conditions, or the need to balance the interests of savers and borrowers while staying competitive.

#### If my interest rate changes, how will I know what my new repayments will be?

In the event of a rate increase, BOQ will send existing variable rate customers a letter informing you of your new repayment amount and when this will take effect.

You can use [BOQ’s Loan Repayment Calculator](https://www.boq.com.au/personal/tools-and-calculators/loan-repayment-calculator) to calculate how your repayments may change.

For existing home loan customers currently on a fixed rate, your loan repayment amount will not change for the duration of the period you have chosen to fix the rate of your loan.

#### Is there any change to my fixed rate loan?

For our existing home loan customers currently on a fixed rate, your loan repayment amount will not change for the duration of the period you have chosen to fix the rate of your loan.

#### When you approved my loan, how did you know I could afford it?

BOQ applies a number of 'tests' when assessing customers' ability to repay a loan.

These ‘tests’ include consideration of potential movements in interest rates over the life of the loan and evaluate a customer’s living expenses against their income.

Along with requirements by Australia’s banking regulators, these 'tests' are put in place to assess if a customer can still meet repayments in a higher interest rate environment before approving a loan.

#### What can I do if I’m having difficulty meeting my home loan repayments?

We’re here to help. If you are having trouble making loan repayments, the best thing you can do is get in touch with our Customer Assistance Team as soon as you can once you know what your new repayments are.

You can find further details on our [Financial Difficulty Assistance](https://www.boq.com.au/help-and-support/assistance) page.

The [Australian Banking Association’s Financial Assistance Hub](https://www.ausbanking.org.au/assistance/) is also an excellent resource to help you understand the options that may be available if you are in financial difficulty.