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The Banking Code was a voluntary code of practice agreed by banks in certain countries. The code typically described how banks dealt with accepting deposits and withdrawals and with customer disputes on transactions. Banking codes have in most countries been replaced by government imposed financial regulation governing banking practices.
Thus, Banking regulators have a significant private and self-regulatory element. The Australian Bankers' Association Inc. is responsible for drafting of the Code of Banking Practice . [ 8 ] In 2016 ASIC admitted to the Joint Committee on Financial Services and Corporations that ASIC does not have the power to oversee FOS on a day-to-day basis.
AusPayNet is also the official issuer and custodian of Bank State Branch (BSB) numbers, the bank code system used in Australia. AusPayNet assigns the bank code to a financial institution who then allocates the other digits, in line with guidelines set by AusPayNet. AusPayNet also manages the Magnetic ink character recognition (MICR) cheque ...
The Australian Banking Association (ABA), formerly the Australian Bankers' Association, is the trade association for the Australian banking industry. The ABA was founded in 1985 [1] and is based in Sydney, New South Wales. The ABA represents twenty-two banks [2] and associate members.
Australia & New Zealand Banking Group; National Australia Bank; There are several smaller banks with a presence throughout the country, and a large number of other financial institutions, such as credit unions. Many large foreign banks have a presence, but few have a retail banking presence. The central bank is the Reserve Bank of Australia ...
A Bank State Branch (often referred to as "BSB") is the name used in Australia for a bank code, which is a branch identifier. The BSB is normally used in association with the account number system used by each financial institution.
Great Southern Bank has an Australian-based contact centre in Melbourne. It is part of the Customer-owned Banking Association, [7] the industry association for mutual banks, credit unions, and building societies, adhering to the association's Customer-owned Banking Code of Practice. [8]
Banking in Australia is dominated by four major banks: Commonwealth Bank, Westpac, Australia & New Zealand Banking Group and National Australia Bank.There are several smaller banks with a presence throughout the country which includes Bendigo and Adelaide Bank, Suncorp Bank, [1] and a large number of other financial institutions, such as credit unions, building societies and mutual banks ...