Westpac will provide emergency support for customers impacted by flooding in New South Wales, Victoria, and Tasmania as much of the country continues to experience some of the wettest conditions on record.
"While this is still an unfolding event and safety is the priority, we want our customers to know the bank is on standby to help if they have been impacted by severe flooding or are affected in the coming days," said Westpac Chief Customer Engagement Officer Ross Miller.
"We can offer our customers tailored financial support to help give them breathing space on making home loan, credit card and business loan repayments until they get back on their feet.
"We encourage any customer facing financial difficulty as a result of the floods to give us a call. The sooner we know there is an issue, the sooner we can discuss support options to meet their needs," said Mr Miller.
Support available for customers affected by the floods
- Home loan customers may apply to defer repayments for up to three months.
- Credit card customers may apply to defer repayments to their card for up to 90 days.
- Term deposits customers can withdraw funds early without any interest rate reduction.
- Business loan customers may apply to defer repayments for up to three months.
- Businesses with existing loans can request loan restructuring without incurring the usual bank establishment fees.
- Business customers with merchant facilities are eligible to receive assistance, including monthly terminal access fee refunds for up to three months.
- Customers experiencing hardship may also be offered a halt on all interest accrual on unsecured credit products for a period of up to three months.
To access financial assistance:
- Westpac consumer customers can apply online
