Westpac announces emergency assistance for customers affected by severe weather events in Victoria

Westpac

Westpac has rolled out a range of emergency support measures for households and businesses affected by the severe weather events in Victoria.

Chris de Bruin, Westpac Chief Executive Consumer & Business Banking, said the support will provide a range of financial measures to help customers.

“The severe weather events in the Gippsland region and other parts of Victoria have caused devastation to homes and businesses, on top of the recent challenges caused by the COVID-19 pandemic,” said Mr de Bruin.

“Our thoughts are with our customers and employees in the impacted areas, as well as the emergency services personnel assisting with the response in extremely difficult conditions.

“This is an evolving situation, and the priority should be following the advice of emergency services.

“We want our customers to know there is a range of support available. When they are ready to speak with us, we have a dedicated team to support with assistance tailored to meet their circumstances,” he said.

Westpac’s emergency assistance support includes a range of options* for both business and consumer customers, such as:

Consumer

  • Home loan customers may apply to defer repayments for up to three months.
  • Credit card customers may request to defer repayments for up to 90 days.
  • Customers wishing to purchase replacement goods may apply for a personal loan at a discounted interest rate with no establishment fee.
  • Waived interest rate adjustments for customers wishing to withdraw term deposits.

Business

  • Business customers may request loan restructuring with no fees incurred.
  • Affected business customers with merchant facilities are eligible to receive assistance including monthly terminal access fee waivers for up to three months.

Earlier this week Westpac outlined support measures for households and businesses impacted by recent lockdowns.

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