Don’t tough it out on your own
17 October 2022
The Australian Banking Association today said banks stand ready to support Australian communities hit by rain and devastating floods.
“We know more rain is on the way and this event has already affected many tens of thousands of Australians. It is a terribly difficult time right across Australia’s east coast but particularly for people in Victoria, Tasmania and western NSW,” Chief Executive Officer, Anna Bligh said today.
“Banks have very experienced hardship teams. They’ve worked with families who have experienced floods before and have a range of very practical measures to support people to get through these experiences”
ABA CEO Anna Bligh
“The message from banks is clear: don’t tough it out on your own, call your bank as soon as you are able to, they are ready to help.
“Banks have very experienced hardship teams. They’ve worked with families who have experienced floods before and have a range of very practical measures to support people to get through these experiences,” Ms Bligh said.
ABA member banks offer a range of measures to help customers affected by natural disasters. Depending on individual circumstances, assistance may include:
- A deferral of scheduled loan repayments, on home, personal and some business loans for up to 3 months
- Waiving of fees and charges, including for early access to term deposits
- Debt consolidation to help make repayments more manageable
- Restructuring existing loans free of the usual establishment fees
- Offering additional finance to help cover cash flow shortages
- Deferring upcoming credit card payments
- Emergency credit limit increases
Latest news
Transcript
Anna Bligh Interview Sky News, discussing financial hardship and what banks can do to help
Read more
22 April 2024
Tom Connell Those people with a home loan who have had a fixed rate are getting a shock as they come off that fixed rate. Often as low as two percent and onto the new variable rate that can be as high as six or even seven percent. So how is that affecting people out… Read more »
Media Releases
Banks remind customers, ‘don’t tough it out on your own’
Read more
22 April 2024
Australians facing difficult financial decisions are being reminded to get in touch with their bank and get the support they need to keep repayments on track. The Australian Banking Association (ABA) is extending its ‘don’t tough it out on your own’ campaign which was launched last year, with a further round of advertisements to run… Read more »
Transcript
Anna Bligh Interview with ABC Radio Brisbane, discussing future of cash and Digital ID
Read more
3 April 2024
Steve Austin Well as you know, the Commonwealth Government has made it clear they consider access to cash a priority for the Australian economy and the country’s largest banks, as well as Coles, Woolworths, companies like Wesfarmers and Australia Post have been trying to put together a short term lifeline for Armaguard, who’s the company… Read more »