ARCHIVED: Code of Banking Practice 2012   /  2. Communication

2. Communication

This is an old version of the Code of Banking Practice. View the current Code

2.1 Customer Privacy
2.2 Communication with You
2.3 Bank Disclosure

 2.1 Customer Privacy

  1. We have a strict duty to protect the confidentiality of all our Customers’ and former Customers’ affairs. We are also obliged in our dealings with our personal Customers to observe and comply with the Privacy Act 1993.
  2. When you are dealing with us we may ask you to prove your identity. This helps us protect your property and information.
  3. We will endeavour to ensure that your information that we hold is accurate. Prompt advice of any changes in your personal contact details such as residential or email address, or telephone or facsimile numbers will help us to do this. This is very important because we will then be able to communicate with you and send you information on your accounts and other relevant matters.
  4. We will only use the information we hold about you for the promotion of other products or services if you have consented to this. If you do not wish to receive promotional material from us at any time, tell us and we will not send it.
  5. We require all of our employees, contractors and agents to sign a confidentiality agreement.
  6. You can help us to protect your confidential information by keeping all information regarding your accounts, products and services in a safe place.
  7. When you are dealing with us by telephone, your conversation with us may be recorded for verification or training purposes.
  8. Certain circumstances require us to disclose your confidential information, for example, under the Tax Administration Act 1994 the Inland Revenue Department may request certain information from us, as could other government agencies or departments under relevant legislation. We may be required to disclose information on individuals, companies and other entities for the purpose of investigation. Section 11.2 of this Code lists examples of some additional laws that may require us to disclose your confidential information.

 2.2 Communication with You

  1. We will provide information to you from time to time using plain language where we can. This may include advising you of changes that may affect your business with us. We will communicate with you in at least one of the following ways:
    1. by direct communication (e.g. by letter, email, fax or telephone);
    2. by displaying information in all Branches;
    3. by notice in the media (including public notices);
    4. by notice on our website; or
    5. by any electronic banking channel used by you.
  2. When there is a change to the terms and conditions of any banking service, including changes to fees and charges, we will give you at least 14 days’ notice of such change in at least one of the following ways:
    1. by direct communication (e.g. by letter, email, fax or telephone);
    2. by display in all Branches;
    3. by notice in the media (including public notices);
    4. by notice on our website; or
    5. by any electronic banking channel used by you.
  3. Prior notice is not required for interest rate changes and other variations that are subject to market fluctuations.
  4. You are responsible for informing us of any change of your name or address.

 2.3 Bank Disclosure

  1. You may request a copy of our current quarterly Disclosure Statement.
  2. In addition to any other disclosure required by law, we will make available to you the terms and conditions of any product or service you have, both at the time you take that product or service and upon request by you at a later stage.
  3. At the time you open an account, we will inform you of the details of standard fees and charges payable for the normal operation of the account. We will advise charges for other products and services on request or at the time the product or service is offered.
  4. We will make sure our advertising and promotional material is not deceptive or misleading and that it complies with all relevant legislation.
  5. We will inform you of our non-standard fees and charges before payment is due. There may be charges from other parties (including overseas banks) of which we have no knowledge or control. If legal charges are to be passed on to you, you will be told the amount due before we pay the account (provided your contact details are up to date). Your right to apply for a review of the costs you have been charged will then be preserved under the Law Practitioners Act 1982 or the Lawyers and Conveyancers Act 2006.
  6. Any advertisement that includes a deposit interest rate will state that full details of the terms and conditions will be available on request and will also include any other disclosure required by law. If you request it, we will provide you with the following information:
    1. the rate of interest, and whether it may change over the period of the deposit, how the interest is calculated and when interest will be credited to your account;
    2. any fees and charges you must pay;
    3. any government charges and taxes you must pay, including Resident Withholding Tax, Non-Resident Withholding Tax and Approved Issuer Levy; and
    4. other information, such as the consequences of withdrawing deposits early or in part.