Important Information

The Banking Code of Practice (the Banking Code) is an industry code that’s published by the Australian Banking Association (ABA). Medfin is not a member of the ABA and is not a subscriber to the Banking Code.  However Medfin enters into Personal Loan Agreements as agent for National Australia Bank Limited ABN 12 004 044 937 Australian Credit Licence 230686 (‘NAB”).  NAB is a member of the ABA and is a subscriber to the Banking Code.  This means the Banking Code applies to Medfin’s relationship with personal loan customers in its capacity as agent for NAB.

If we sent a personal loan agreement to you for signing before 1 October, 2021 then please note:

• our terms and conditions should have stated that information on current standard fees, charges and any interest rates is available on request – if you do require information on current standard fees, charges and any interest rates, please contact us; and
• we should have had information publicly available about our processes for working with customers in financial difficulty – this information can now be found on our Financial Hardship page.

The Banking Code provides safeguards and protections to individual and small business customers and their respective guarantors, and in some areas sets higher standards than the law.

The Banking Code is underpinned by principles that will guide subscribers in their decision-making when providing services, including being fair, responsible, and accountable in their dealings with personal and small business customers, and acting with honesty and integrity.

The latest update of the Banking Code is effective on 28 February 2025 and can be accessed through the link below. The updated Banking Code is a culmination of an extensive review, developed in consultation with consumer representatives, small business organisations and regulators. The updated Banking Code provides additional protections for small business customers, guarantors, vulnerable customers, and customers requiring additional support.

The original code (known as the ‘Code of Banking Practice’) was first published in 1993 with revisions made over the years to better meet evolving community expectations.

Some of the topics covered in the Banking Code:

• Communicating with customers about bank accounts and banking services
• Inclusive and accessible banking
• Lending to individuals and Small Business
• Guaranteeing a loan
• When things go wrong, including financial difficulty and complaints.

View or download the current version (including the latest update) of the Banking Code of Practice on the ABA website.