Joint Submission: Banking Code Compliance Committee – Basic Bank Accounts
This joint submission is provided on behalf of Consumer Action Law Centre, Mob Strong Debt Help, Financial Rights Legal Centre, ICAN, Mortgage Stress Victoria and Financial Counselling Australia.
Basic bank accounts (BBA’s) are critically important for low- and no-income customers, ensuring access to fair and affordable everyday banking products, which are essential to financial inclusion and stability.
In summary, we recommend that the Banking Code Compliance Committee (BCCC’s) Guidance Note make clear that:
-All banks are expected to offer a basic bank account
-Banks should proactively identify who is eligible
-Banks should communicate about and offer BBAs to both new and existing customers
-Banks’ systems, processes, and staff training should ensure that all eligible customers are benefiting from BBAs, in the interests of promoting financial inclusion, reducing avoidable fees, and supporting access to fair and affordable banking products.
This advice is currently missing from the guidance note. It is critical that the BCCC sets out an expectation that banks proactively identify customers eligible for BBAs. Banks already use customer data to market products, assess loans, and manage risk. It is entirely proportionate and necessary that the same data be used to ensure eligible customers are on the accounts most suited to their needs.
Read the full submission (PDF).
Joint Consumer Submission – BCCC basic accounts guidance – 10 Dec 2025