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We live in your world - March 2013

We live in your world - March 2013

Supporting vulnerable customers

Supporting vulnerable customers

We have been working with Australian consumer groups, financial counsellors and our regulators to help create better minimum service standards for our personal and small business customers.

CEO Australia Philip Chronican said: “We know there is more we can do to understand and assist our most vulnerable customers. These improvements expand on the level of support available to customers in need and will help customers to better access that support.”

Our new commitments – detailed in our industry’s Banking Code of Practice - include:

  • Further training staff to help recognise a customer who may qualify for an account which attracts no or low fees;
  • Supporting Indigenous customers by ensuring staff are culturally aware and can assist customers to meet identification requirements;
  • Sending customers with a loan secured against a residential property an annual reminder about maintaining appropriate home insurance; and
  • Ensuring debt collectors comply with regulatory guidelines.

More information:

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