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Regulatory agencies and self-regulatory bodies

MBNA’s customer commitment

"MBNA’s vision is to enable our customers to purchase today, with money they will pay us tomorrow, working with us a company they can trust. We are working hard to continue to maintain and build that trust."

"We’re a specialist UK credit card business with more than 20 years experience and millions of customers in the UK. We have hundreds of millions of interactions with our customers every year – either when they pay their credit card bills, spend on their cards, use our websites or call us for support. The vast majority of these interactions are positive, but we are working hard to get it right first time, every time."

"We remain committed to dealing with legacy issues like payment protection insurance in the right way and we’ll continue with this work so that we deliver the right outcomes for our customers."

"Doing the right thing by our customers is part of the DNA of our business – and it will remain so – and we are working closely with all of our regulators to ensure that we continue to conduct our business in a way that customers have the right to expect – and that they deserve."

Elyn Corfield, MBNA Managing Director


Regulatory agencies:

Financial Conduct Authority

MBNA’s general activities are authorised and regulated by the Financial Conduct Authority (FCA).

The FCA regulate the financial services industry in the UK. Their main aim is to protect consumers, ensure the industry remains stable and promote healthy competition between financial services providers. The FCA have rule-making, investigative and enforcement powers that they use to protect and regulate the financial services industry.

MBNA is entered on the Financial Conduct Authority’s register ( with Financial Conduct Authority Register Number 204487.


Payment Systems Regulator

The Payment Systems Regulator (PSR) was incorporated as a subsidiary of the FCA on 1 April 2014, and came into operation on 1 April 2015.

The PSR’s objectives are to promote innovation and effective competition in payment systems and the service they provide, and to ensure that payment systems are operated and developed in a way that takes account of, and promotes, the interests of service users.
Payment systems regulated by the PSR include card payment systems e.g. payments/transactions made by using debit and credit cards, faster payments and cheques.
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Information Commissioner‘s Office

The Information Commissioner's Office (ICO) is an independent official body. The Commissioner is responsible for administering the provisions of the Data Protection Act 1998 and the Freedom of Information Act 2000.

The ICO is set up to uphold information rights in the public interest, promoting openness by public bodies and data privacy for individuals.

MBNA must notify the Information Commissioner’s Office of certain details about the processing of personal data through the Annual Registration process. Compliance is responsible for keeping the register entry for MBNA up to date and accurate.

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OFCOM is the communications regulator. OFCOM operates under the Communications Act 2003.

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Self-regulatory bodies:

Finance & Leasing Association

The Finance & Leasing Association is a trade body for the asset, consumer and motor finance sectors in the UK, and the largest organisation of its kind in Europe. Its members include banks, subsidiaries of banks and building societies, the finance arms of leading retailers and manufacturing companies, and a range of independent firms.

MBNA Limited are full members of the FLA. All FLA members must comply with the standards specified in the FLA Lending Code, which sets out best practice in consumer lending. It is intended to provide assurance to customers that they may buy with confidence from full members of the FLA. It contains key commitments about how customers should be dealt with through the whole product life cycle, from marketing and account opening to also include detail on how to help when something goes wrong; for example when someone is experiencing financial difficulties. The FLA member companies will meet the standards set out in the Code and the FLA monitors companies’ performance in doing so.

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Download a copy of the FLA Lending code.  Alternatively please call 03456 062 062 or write to us at MBNA Limited, P.O. Box 1004, Chester Business Park, Wrexham Road, Chester, CH4 9WW.


Lending Standards Board (LSB)

The LSB proactively monitor and enforce the Standards of Lending Practice making sure registered firms provide a fair deal to personal customers. The Standards of Lending Practice are voluntary and set the benchmark for good lending practice in the UK for financial products like loans, current accounts, overdrafts and credit cards.
As a Lender, we have a responsibility to act fairly and as part of this we have committed to follow the Standards of Lending Practice. The Standards cover how customers should be treated throughout their product lifecycle, including:  financial promotions, communications, product sales, account maintenance and servicing, money management, financial difficulty and consumer vulnerability.
The Statement of Lender and Borrower Responsibilities sets out some of our key responsibilities, and what we ask of you, to make sure that the relationship works well for both of us. Click here for a copy.
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