Don’t have your Nedbank ID yet?
Nedbank ID single sign-on gives you full digital access to Nedbank Private Wealth’s banking and lifestyle products and services on the Nedbank Private Wealth app or Online Banking.
Log in
Log in to Online Banking or another one of our secured services.
Get in touch
- Login & Register
- Online Banking
- Online Share Trading
- NedFleet
- Register for Nedbank ID
- Bank
- Private banking
- International banking
- Focus Platform
- Forex
- Rewards
- Greenbacks
- Digital tools
- Explore Bank
- Private banking
- International banking
- Focus Platform
- Forex
- Rewards
- Level 1
- Level 2
- Level 3
- Level 4
- Level 5
- Digital tools
- Borrow
- Home loans
- Vehicle and asset finance
- Structured lending
- Overdrafts
- Aviation finance
- Explore Borrow
- Home loans
- Vehicle and asset finance
- Structured lending
- Overdrafts
- Aviation finance
- Personal insurance
- Business insurance
- Grow
- Investment planning
- Investment solutions
- International investments
- Cash management
- Retirement planning
- Stockbroking
- Fund fact sheets
- Explore Grow
- Investment planning
- Investment solutions
- International investments
- Cash management
- Retirement planning
- Stockbroking
- Fund fact sheets
- Exclusive Funds | Nedbank Private Wealth
- Select Fund of Funds | Nedbank Private Wealth
- International MultiFunds | Nedbank Private Wealth
- Core Income Funds | Nedbank Private Wealth
- Global Portfolio (AMC) Fund | Nedbank Private Wealth
- Exclusive Funds | Nedbank Private Wealth
- Select Fund of Funds | Nedbank Private Wealth
- International MultiFunds | Nedbank Private Wealth
- Core Income Funds | Nedbank Private Wealth
- Exclusive Funds | Nedbank Private Wealth
- Select Fund of Funds | Nedbank Private Wealth
- International MultiFunds | Nedbank Private Wealth
- Core Income Funds | Nedbank Private Wealth
- Global Portfolio (AMC) Fund | Nedbank Private Wealth
- Exclusive Funds | Nedbank Private Wealth
- Select Fund of Funds | Nedbank Private Wealth
- International MultiFunds | Nedbank Private Wealth
- Core Income Funds | Nedbank Private Wealth
- Structure
- Specialist advisory services
- Will drafting
- Estate administration
- Financial accounting
- Estate planning
- Explore Structure
- Specialist advisory services
- Will drafting
- Estate administration
- Financial accounting
- Estate planning
- Our offering
- Giving Report
- Learn
- Blog
- Explore Learn
- Blog
- Become a client
- Explore Become a client
- Contact us
- Explore Contact us
Effective 1 July 2025
1 What is the new Code of Banking Practice?
- The new Code of Banking Practice is a voluntary code for banks that is aligned with the Conduct Standards for Banks, 3 of 2020, and the Treating Customers Fairly (TCF) principles.
- It replaces the old Code which was published in 2012.
- The new Code sets out the minimum standards for service and good conduct practices that customers can expect from their banks in all interactions.
2 Who drafted the new Code?
The Code was drafted by the member banks of the Banking Association South Africa (BASA) -the national association for domestic and international banks operating in South Africa.
3 Why is it important to have a Code?
Having the Code of Banking Practice ensures consistent fairness, customer protection, and confidence in the banking sector. Regardless of where they the bank, customers will receive fair treatment knowing that all banks abide by the same Standards.
Key reasons for the Code of Banking Practice
- Customer protection
The Code provides minimum standards for service and conduct customers can expect from their bank.
- Transparency and clarity
It fosters transparency, helping customers understand their products better, leading to improved usage.
- Fair and open relationships
The Code encourages open and honest communication between banks and customers, fostering positive and trusting relationships.
- Confidence in the banking sector system
By promoting good practices and setting clear expectations, the Code helps build and maintain public trust in the sector, promoting a culture of integrity, transparency, and fairness.
4 Who does it apply to?
The Code applies to individual or personal customers as well as small, medium, and microenterprises with a turnover of up to R10 million in the last financial year.
5 What has changed?
The new code introduces several key changes, including the following:
- Medium and microenterprises with a turnover of up to R10 million in the last financial year are now covered.
- New obligations for banks when giving advice to a guarantor.
- A comprehensive definition of vulnerable customers.
- Updated guidelines on inclusive and accessible banking.
Importantly, the Code is written in plain, and simple language for easy understanding.
6 What a New Code means for you as a Nedbank Private Wealth customer?
The key principles are fairness, transparency, trust, confidence, accountability, integrity, and reliability, which are already part of Nedbank Private Wealth's client-centred strategy.
7 What processes are in place for customers to report concerns where the Code is not being followed?
Customers can report concerns through a bank's complaints resolution process.
At Nedbank Private Wealth, you will find the process on our website at
https://nedbank-private-wealth.nedbank.co.za/contact-us.html.
8 When does the new code become effective?
The new code is effective from 1 July 2025.
9 Where can I find a copy of the code?
You can download a copy here.
You can also find the new code on the BASA website.
