Wednesday 17 October, 2018

Bankers Association launches Code of Banking Practice

The Bankers Association of Trinidad and Tobago (BATT) has given its commitment to providing more efficient service to bank customers and has launched a Code of Banking Practice to help do so.

The Code, which is a revised version to one already in existence, was launched on Monday and signed by BATT's eight member banks.

Speaking during the launch, BATT President Anya Schnoor said the Code would help to improve customer confidence and trust.

One of the commitments given under the Code is full disclosure of bank fees and charges.

The Code also sets out procedures to be followed in dealing with customer complaints and disputes.

Schnoor said the Code would lead to customer empowerment and improved efficiency.

"The relaunch of our Code of Banking Practice today demonstrates BATT's unreserved commitment to open and transparent banking practice, to foster consumer confidence and conversation, to the improvement of the operational standards of the industry and engender a better public understanding of the way banks operate," she said.

Financial Services Ombudsman Dominic Stoddard praised the initiative and said it is a step towards building positive relationships between banks and customers.