The National Bank Goes Extra Mile

For immediate release

The National Bank Goes Extra Mile For Internet Banking Customers

The National Bank provides a number of security measures for Internet Banking customers that exceed the minimum standards set out in the new Code of Banking Practice.

“We recognise the importance and popularity of online banking and our terms and conditions protect our customers to a much higher degree than set out as minimum standards in the Code,” National Bank Retail Banking Managing Director Craig Sims said today.

“In the very unlikely event that a customer incurs a loss, and they have operated within our online banking terms and conditions, the Bank will not hold the customer responsible. In those situations, we will work with them on a case by case basis to ensure they are not out of pocket.

“In very rare circumstances, we might ask a customer’s permission to look at the protective software on their personal computers to gain a better understanding of how a loss was incurred. But this will not determine whether we compensate the customer.”

Mr Sims said that while the wording of the new Code of Banking Practice had attracted some comment, this had not in any way changed the National Bank’s absolute commitment to its Internet Banking customers.

“We know how important online security is to our customers. While we’ve seen some debate about the Code’s wording, its intent is clear: Banks and customers have a shared responsibility around Internet banking security.”

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