PART I - INTRODUCTION .1 1. Status of the Code of Banking Practice 1 2. General Principles.1 3. Objectives.3 4.

Enquiries.3 PART II - RECOMMENDATIONS ON BANKING PRACTICE .4 CHAPTER 1 - RELATIONSHIP BETWEEN INSTITUTIONS AND CUSTOMERS4 5. Terms and Conditions.4 6. Fees and Charges5 7. Debt Recovery Expenses 6 8.

Collection, Use, Holding and Erasure of Customer Information.6 9. Personal Referees7 10. Equal Opportunity 8 11. Bank Marketing 8 12. Annualised Percentage Rates9 13. Handling Customer Complaints10 14.

Closing Bank Branches.10 15. Management of Banking Activities 11 CHAPTER 2 - ACCOUNTS AND LOANS12 16. Opening of Accounts12 17. Closing of Accounts12 18. Operation of Accounts12 19. Rights of Set-off .

13 20. Deposit Accounts14 21. Loans and Overdrafts15 22. Residential Mortgage Lending16 23. Other Secured Lending .18 24. Guarantees and Third Party Securities18 CHAPTER 3 - CARD SERVICES .

20 25. Application .20 26. Issue of Cards .20 27. Terms and Conditions.24 28.

Fees and Charges25 29. Interest Rate25 30. Repayment 27 31. Rights of Set-off .27 32. Security of Cards/PINs .28 33.

Transaction Records .28 34. Unauthorized Transactions.30 35. Lost Cards/PINs31 36. Liability for Loss 31 37. Treatment of Credit Balances.

32 38. Direct Mailing.32 CHAPTER 4 - PAYMENT SERVICES.33 39. Cheques 33 40. Cross-border Payments.33 41.

Other Payment Services34 CHAPTER 5 - RECOVERY OF LOANS AND ADVANCES 35 42. Application .35 43. Debt Collection Activities 35 44. Management of Debt Collection Agencies37 CHAPTER 6 - ELECTRONIC BANKING SERVICES 38 45. Disclosure for e-banking Services 38 46. Security in relation to e-banking.

38 47. Reporting of Actual or Suspected Security Incidents39 48. Liability for Loss 39 CHAPTER 7 - STORED VALUE CARDS (OR DEVICES) .40 49. Application .40 50. Issue of Stored Value Cards or Devices (SVCs)40 51.

Terms and Conditions and Fees and Charges40 52. Operation of SVCs.41 Annex I - Useful Definitions42 Annex II - Ban on Double-Cycle Billing 45 Annex III - Recommended template on monthly statements.47 .