Induction: Code of banking practice - Principles of conduct - 3

Item 1 activity table
Item	Match item 1 and feedback	Match item 2 and feedback	Match item 3 and feedback	Match item 4 and feedback	Match item 5 and feedback	Match item 6 and feedback
Item 1 Opening accounts Go along this row to read each possible matching item.	Match item 1 Explain how both parties may withdraw funds from the joint account If you think this is a match, go down one cell to receive feedback.	Match item 2 Provide a statement of all transactions at least every six months If you think this is a match, go down one cell to receive feedback.	Match item 3 Provide information on the provision of Tax File Numbers upon request If you think this is a match, go down one cell to receive feedback.	Match item 4 Pay the customer the amount of the credit balance If you think this is a match, go down one cell to receive feedback.	Match item 5 Inform customers of the importance of safeguarding payment instruments If you think this is a match, go down one cell to receive feedback.	Match item 6 Advise customers that information will only be disclosed under exceptional circumstances If you think this is a match, go down one cell to receive feedback.
	Feedback match item 1 Incorrect. Please go back to the row above and try again.	Feedback match item 2 Incorrect. Please go back to the row above and try again.	Feedback match item 3 Correct! Upon request, the CBP states that the Bank needs to provide Rosie and Malcolm with: Their options under the Tax File Number legislation, which is explained in the PDS. General information about the account identification requirements. This information is specified in the Opening a Bank Account - the 100 point identification system booklet. The Bank must also state in writing whether the new account may be combined with any existing accounts and, if so, what the consequences may be. If the Bank exercises its right to combine accounts, then Rosie and Malcolm must be informed promptly. The Bank must also comply with applicable requirements in the Code of Operation for Centrelink Direct Credit Payments. Go to the left column of the next table to make another match.	Feedback match item 4 Incorrect. Please go back to the row above and try again.	Feedback match item 5 Incorrect. Please go back to the row above and try again.	Feedback match item 6 Incorrect. Please go back to the row above and try again.

Item 1 activity table

Item

Match item 1 and feedback

Match item 2 and feedback

Match item 3 and feedback

Match item 4 and feedback

Match item 5 and feedback

Match item 6 and feedback

Item 1
Opening accounts

Go along this row to read each possible matching item.

Match item 1
Explain how both parties may withdraw funds from the joint account

If you think this is a match, go down one cell to receive feedback.

Match item 2
Provide a statement of all transactions at least every six months

If you think this is a match, go down one cell to receive feedback.

Match item 3
Provide information on the provision of Tax File Numbers upon request

If you think this is a match, go down one cell to receive feedback.

Match item 4
Pay the customer the amount of the credit balance

If you think this is a match, go down one cell to receive feedback.

Match item 5
Inform customers of the importance of safeguarding payment instruments

If you think this is a match, go down one cell to receive feedback.

Match item 6
Advise customers that information will only be disclosed under exceptional circumstances

If you think this is a match, go down one cell to receive feedback.

Feedback match item 1

Incorrect.

Please go back to the row above and try again.

Feedback match item 2

Incorrect.

Please go back to the row above and try again.

Feedback match item 3

Correct!

Upon request, the CBP states that the Bank needs to provide Rosie and Malcolm with:

Their options under the Tax File Number legislation, which is explained in the PDS.
General information about the account identification requirements.
This information is specified in the Opening a Bank Account - the 100 point identification system booklet.

The Bank must also state in writing whether the new account may be combined with any existing accounts and, if so, what the consequences may be.

If the Bank exercises its right to combine accounts, then Rosie and Malcolm must be informed promptly. The Bank must also comply with applicable requirements in the Code of Operation for Centrelink Direct Credit Payments.

Go to the left column of the next table to make another match.

Feedback match item 4

Incorrect.

Please go back to the row above and try again.

Feedback match item 5

Incorrect.

Please go back to the row above and try again.

Feedback match item 6

Incorrect.

Please go back to the row above and try again.

Item 2 activity table
Item	Match item 1 and feedback	Match item 2 and feedback	Match item 3 and feedback	Match item 4 and feedback	Match item 5 and feedback
Item 2 Payment instruments Go along this row to read each possible matching item.	Match item 1 Explain how both parties may withdraw funds from the joint account If you think this is a match, go down one cell to receive feedback.	Match item 2 Provide a statement of all transactions at least every six months If you think this is a match, go down one cell to receive feedback.	Match item 3 Pay the customer the amount of the credit balance If you think this is a match, go down one cell to receive feedback.	Match item 4 Inform customers of the importance of safeguarding payment instruments If you think this is a match, go down one cell to receive feedback.	Match item 5 Advise customers that information will only be disclosed under exceptional circumstances If you think this is a match, go down one cell to receive feedback.
	Feedback match item 1 Incorrect. Please go back to the row above and try again.	Feedback match item 2 Incorrect. Please go back to the row above and try again.	Feedback match item 3 Incorrect. Please go back to the row above and try again.	Feedback match item 4 Correct! Under the CBP, the Bank is required to inform Rosie and Malcolm of the: Importance of safeguarding payment instructions such as debit cards or cheques Importance of notifying the Bank, as soon as possible, of the loss, theft or misuse of their payment instruments Means by which they can notify us of the loss, theft or misuse of their payment Consequences of failing to notify the Bank of the loss, theft or misuse of a payment instrument. All of this information is described in the PDS. Go to the left column of the next table to make another match.	Feedback match item 5 Incorrect. Please go back to the row above and try again.

Item 2 activity table

Item

Match item 1 and feedback

Match item 2 and feedback

Match item 3 and feedback

Match item 4 and feedback

Match item 5 and feedback

Item 2
Payment instruments

Go along this row to read each possible matching item.

Match item 1
Explain how both parties may withdraw funds from the joint account

If you think this is a match, go down one cell to receive feedback.

Match item 2
Provide a statement of all transactions at least every six months

If you think this is a match, go down one cell to receive feedback.

Match item 3
Pay the customer the amount of the credit balance

If you think this is a match, go down one cell to receive feedback.

Match item 4
Inform customers of the importance of safeguarding payment instruments

If you think this is a match, go down one cell to receive feedback.

Match item 5
Advise customers that information will only be disclosed under exceptional circumstances

If you think this is a match, go down one cell to receive feedback.

Feedback match item 1

Incorrect.

Please go back to the row above and try again.

Feedback match item 2

Incorrect.

Please go back to the row above and try again.

Feedback match item 3

Incorrect.

Please go back to the row above and try again.

Feedback match item 4

Correct!

Under the CBP, the Bank is required to inform Rosie and Malcolm of the:

Importance of safeguarding payment instructions such as debit cards or cheques
Importance of notifying the Bank, as soon as possible, of the loss, theft or misuse of their payment instruments
Means by which they can notify us of the loss, theft or misuse of their payment
Consequences of failing to notify the Bank of the loss, theft or misuse of a payment instrument.
All of this information is described in the PDS.

Go to the left column of the next table to make another match.

Feedback match item 5

Incorrect.

Please go back to the row above and try again.

Item 3 activity table
Item	Match item 1 and feedback	Match item 2 and feedback	Match item 3 and feedback	Match item 4 and feedback
Item 3 Joint accounts and subsidiary cards Go along this row to read each possible matching item.	Match item 1 Explain how both parties may withdraw funds from the joint account If you think this is a match, go down one cell to receive feedback.	Match item 2 Provide a statement of all transactions at least every six months If you think this is a match, go down one cell to receive feedback.	Match item 3 Pay the customer the amount of the credit balance If you think this is a match, go down one cell to receive feedback.	Match item 4 Advise customers that information will only be disclosed under exceptional circumstances If you think this is a match, go down one cell to receive feedback.
	Feedback match item 1 Correct! It is a CBP requirement to provide any customer opening a joint account with details of how both parties can access the funds. The Bank also needs to provide information on: How changes can be made to the instructions for operating the joint account The customer's potential liability for debts incurred on the joint account. To satisfy this requirement, you need to provide Rosie and Malcolm with a PDS. The PDS describes all of this information. Should Rosie and Malcolm request a subsidiary (or secondary) credit or debit card the Bank must also: Provide the primary cardholder with information about their potential liability for debts incurred by the subsidiary cardholder using the card Inform the primary cardholder of the means by which a subsidiary card may be cancelled or stopped. This information is also explained in the PDS. Go to the left column of the next table to make another match.	Feedback match item 2 Incorrect. Please go back to the row above and try again.	Feedback match item 3 Incorrect. Please go back to the row above and try again.	Feedback match item 4 Incorrect Please go back to the row above and try again.

Item 3 activity table

Item

Match item 1 and feedback

Match item 2 and feedback

Match item 3 and feedback

Match item 4 and feedback

Item 3
Joint accounts and subsidiary cards

Go along this row to read each possible matching item.

Match item 1
Explain how both parties may withdraw funds from the joint account

If you think this is a match, go down one cell to receive feedback.

Match item 2
Provide a statement of all transactions at least every six months

If you think this is a match, go down one cell to receive feedback.

Match item 3
Pay the customer the amount of the credit balance

If you think this is a match, go down one cell to receive feedback.

Match item 4
Advise customers that information will only be disclosed under exceptional circumstances

If you think this is a match, go down one cell to receive feedback.

Feedback match item 1

Correct!

It is a CBP requirement to provide any customer opening a joint account with details of how both parties can access the funds. The Bank also needs to provide information on:

How changes can be made to the instructions for operating the joint account
The customer's potential liability for debts incurred on the joint account.
To satisfy this requirement, you need to provide Rosie and Malcolm with a PDS. The PDS describes all of this information.

Should Rosie and Malcolm request a subsidiary (or secondary) credit or debit card the Bank must also:

Provide the primary cardholder with information about their potential liability for debts incurred by the subsidiary cardholder using the card
Inform the primary cardholder of the means by which a subsidiary card may be cancelled or stopped.
This information is also explained in the PDS.

Go to the left column of the next table to make another match.

Feedback match item 2

Incorrect.

Please go back to the row above and try again.

Feedback match item 3

Incorrect.

Please go back to the row above and try again.

Feedback match item 4

Incorrect

Please go back to the row above and try again.

Item 4 activity table
Item	Match item 1 and feedback	Match item 2 and feedback	Match item 3 and feedback
Item 4 Privacy and confidentiality Go along this row to read each possible matching item.	Match item 1 Provide a statement of all transactions at least every six months If you think this is a match, go down one cell to receive feedback.	Match item 2 Pay the customer the amount of the credit balance If you think this is a match, go down one cell to receive feedback.	Match item 3 Advise customers that information will only be disclosed under exceptional circumstances If you think this is a match, go down one cell to receive feedback.
	Feedback match item 1 Incorrect. Please go back to the row above and try again.	Feedback match item 2 Incorrect. Please go back to the row above and try again.	Feedback match item 3 Correct! In addition to the Bank's duties under the Privacy Act, the CBP acknowledges a general duty of confidentiality to customers. The only time the Bank will reveal confidential information is when: Disclosure is compelled by law There is a duty to the public to disclose or where our interests require disclosure Disclosure is made with the customer's express or implied consent. Upon request, Rosie and Malcolm should be provided with the Bank's privacy brochure, entitled Protecting Your Privacy. Go to the left column of the next table to make another match.

Item 4 activity table

Item

Match item 1 and feedback

Match item 2 and feedback

Match item 3 and feedback

Item 4
Privacy and confidentiality

Go along this row to read each possible matching item.

Match item 1
Provide a statement of all transactions at least every six months

If you think this is a match, go down one cell to receive feedback.

Match item 2
Pay the customer the amount of the credit balance

If you think this is a match, go down one cell to receive feedback.

Match item 3
Advise customers that information will only be disclosed under exceptional circumstances

If you think this is a match, go down one cell to receive feedback.

Feedback match item 1

Incorrect.

Please go back to the row above and try again.

Feedback match item 2

Incorrect.

Please go back to the row above and try again.

Feedback match item 3

Correct!

In addition to the Bank's duties under the Privacy Act, the CBP acknowledges a general duty of confidentiality to customers. The only time the Bank will reveal confidential information is when:

Disclosure is compelled by law
There is a duty to the public to disclose or where our interests require disclosure
Disclosure is made with the customer's express or implied consent.
Upon request, Rosie and Malcolm should be provided with the Bank's privacy brochure, entitled Protecting Your Privacy.

Go to the left column of the next table to make another match.

Item 5 activity table
Item	Match item 1 and feedback	Match item 2 and feedback
Item 5 Statements of account Go along this row to read each possible matching item.	Match item 1 Provide a statement of all transactions at least every six months If you think this is a match, go down one cell to receive feedback.	Match item 2 Pay the customer the amount of the credit balance If you think this is a match, go down one cell to receive feedback.
	Feedback match item 1 Correct! Under the CBP, the Bank must provide a statement of account at least every six months. The only time we do not have to provide a statement is if: The deposit account is a passbook account We reach agreement with the customer to either report transactions in another manner or not to provide a statement No amount, other than government charges or duties, has been debited to the account We cannot locate the customer. You should check the product specific information to confirm statement frequency for particular accounts. Customers, like Rosie and Malcolm, may also elect to receive statements more frequently. Should this occur you need to advise the customer of any applicable fees. Go to the left column of the next table to make another match.	Feedback match item 2 Incorrect. Please go back to the row above and try again.

Item 5 activity table

Item

Match item 1 and feedback

Match item 2 and feedback

Item 5
Statements of account

Go along this row to read each possible matching item.

Match item 1
Provide a statement of all transactions at least every six months

If you think this is a match, go down one cell to receive feedback.

Match item 2
Pay the customer the amount of the credit balance

If you think this is a match, go down one cell to receive feedback.

Feedback match item 1

Correct!

Under the CBP, the Bank must provide a statement of account at least every six months. The only time we do not have to provide a statement is if:

The deposit account is a passbook account
We reach agreement with the customer to either report transactions in another manner or not to provide a statement
No amount, other than government charges or duties, has been debited to the account
We cannot locate the customer.

You should check the product specific information to confirm statement frequency for particular accounts. Customers, like Rosie and Malcolm, may also elect to receive statements more frequently. Should this occur you need to advise the customer of any applicable fees.

Go to the left column of the next table to make another match.

Feedback match item 2

Incorrect.

Please go back to the row above and try again.

Item 6 activity table
Item	Match item 1 and feedback
Item 6 Closing accounts Go along this row to read each possible matching item.	Match item 1 Pay the customer the amount of the credit balance If you think this is a match, go down one cell to receive feedback.
	Feedback match item 1 Correct! Upon request, you must close an account that is in credit and pay the amount of the credit balance in accordance with the CBP and Bank policy. Under the CBP, the Bank can also elect to close an account that is in credit provided reasonable notice is provided to the customer. In this particular example, Rosie and Malcolm have decided to switch accounts.

Item 6 activity table

Item

Match item 1 and feedback

Item 6
Closing accounts

Go along this row to read each possible matching item.

Match item 1
Pay the customer the amount of the credit balance

If you think this is a match, go down one cell to receive feedback.

Feedback match item 1

Correct!

Upon request, you must close an account that is in credit and pay the amount of the credit balance in accordance with the CBP and Bank policy. Under the CBP, the Bank can also elect to close an account that is in credit provided reasonable notice is provided to the customer.

In this particular example, Rosie and Malcolm have decided to switch accounts.

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