The Code of Banking Practice sets out the principles of good banking that banks agree to follow as a minimum standard.  The code was established by the New Zealand Bankers Association.

The code does not form part of the contract between customers and the bank and so does not override any contractual terms.

The code provides:

  1. That banks will treat customers fairly and reasonably and act in a consistent and ethical manner.
  2. That banks will communicate clearly and effectively with customers (including any guarantors) and provide information and respond to questions and requests quickly and in plain language.
  3. Banks will respect customers’ privacy and confidentiality and keep their systems secure.  This includes providing information on how to report a security problem and they will reimburse customers for fraud if the customer has not been dishonest or negligent, has complied with the terms of the contract and has taken reasonable steps to protect themselves from fraud.
  4. The bank will act responsibly if it offers or provides credit and this includes being satisfied that the customer will be able to make the repayments of the loan without substantial hardship.
  5. Banks will deal effectively with concerns and complaints and this includes information on how to raise a complaint, acknowledgment of receipt of complaints, keeping customers up to date on progress with complaints and considering complaints fairly and advising on results within a reasonable time.
  6. Customers can complain to the Banking Ombudsman once the bank has looked into the complaint.

If you are having any issues with your bank it pays to take advice from a professional experienced in this area.

Leading law firms committed to helping clients cost-effectively will have a range of fixed-price Initial Consultations to suit most people’s needs in quickly learning what their options are.  At Rainey Collins we have an experienced team who can answer your questions and put you on the right track.

Alan Knowsley


If you are a New Zealand Super Gold Card Holder (Australian Senior Cards do not qualify) we will give you a 75% discount off our initial 1 hour consultation fee. We will also give you a 17.5% discount off the first matter we handle for you and then 12.5 % off any subsequent matters for you.  These discounts relate to your personal matters only (i.e. not business or organisational matters).