The Banking Association South Africa is an industry body representing all registered banks in South Africa.The broad role of The Banking Association is to "establish and maintain the best possible platform on which banks can do responsible, competitive and profitable banking".
The Code of Banking Practice applies to all retail products and services of a bank provided to individuals and certain small legal entities. All banks which are members of the Banking Association subscribe to the Code and are therefore bound by the obligations and undertakings.
As it becomes evident that the code was drafted from this angle it can be understood that it did not have the consumer in mind apart from the very nice words that is contained therein.
Words like the ones quoted above in red. Words that does not mean a thing as the following was considered to be part of the introduction :
None of the provisions of this Code:
will be legally binding in any court of law;
may be used to influence the interpretation of the legal relationship between you and your bank;
will give rise to a trade custom or tacit contract or otherwise between you and your bank.
So although the banks bind themselves to all sorts of promises there is no
method whereby any of them can be taken to task for not abiding by their "Promises"
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