Code of Banking Practice - setting standards for good banking practice
OurBank has adopted the Australian Code of Banking Practice by the Australian Bankers' Association as its Code of Conduct which sets standards for good banking practice when dealing with individual or business customers, prospective customers and their guarantors. The code has been customised to meet the environment in Second Life.
All real life Australian banks that adopt the Code are contractually bound by their obligations under the Code. Because OurBank isn't a registered banking corporation outside of the virtual world of Second Life it is not legally bound by any banking regulations, however OurBank will unofficially operate under the code.
OurBank is not a real life bank, it is a registered group in the virtual world of Second Life a trademark of Linden Labs. The OurBank group is owned and operated by LukeConnell Vandeverre on behalf of Hope Capital Ltd. OurBank has been established to provide participants of Second Life with a transparent in-world banking service.
OurBank operates under the Terms of Service agreement provided by Linden Labs. OurBank is not affiliated with Linden Labs.
The four key areas of the Code are:
- Our key commitments and general obligations
- Disclosures
- Principles of conduct
- Resolution of disputes, monitoring and sanctions
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