6 March 2025
Banks are on standby to assist customers across Queensland and Northern NSW who might be impacted by Tropical Cyclone Alfred in the coming days.
ABA CEO Anna Bligh said banks are closely monitoring the developing situation along the east coast and are putting in place arrangements to support customers in affected areas.
“This is a difficult time for many households, businesses and farmers across southern parts of Queensland and Northern NSW,” Ms Bligh said.
“I want to reassure customers that banks are here to support you. In the coming days, if you begin to face financial difficulties and need assistance, reach out to your bank.
“Our banks have highly experienced specialist teams ready to assist with any financial concerns or enquiries you might have.
“Banks have a range of practical measures that they can put in place to help you navigate through these uncertain times. You don’t have to tough it out on your own.
“It doesn’t matter if you’re an individual or a business customer, or both, banks have a variety of options available from repayment deferrals through to loan restructuring to help you get by.
“In the coming days, if you need help from your bank, contact them as early as possible to discuss what tailored assistance can be made available.”
Depending on individual circumstances, banks may be able to assist with:
- customised arrangements or deferrals of upcoming credit card payments or loan repayments
- temporary overdrafts or emergency credit limit increases
- restructuring of existing loans
- waiving or refunding fees and charges
- offering additional finance to help cover cash flow shortages.
Customers are encouraged to visit their banks’ website for regular updates. Due to the weather conditions, you may find your local branch is closed or on reduced operating hours. Branches will open again as soon as it is safe to do so.
For more information on Natural Disaster Assistance visit: https://www.ausbanking.org.au/natural-disaster-assistance/
Latest news
Jim Chalmers: Thanks for joining us. I’m here with the Small Business Minister, Anne Aly, Bran Black, the head of the BCA, Skye Cappuccio from COSBOA, Simon Birmingham, from the ABA as well. We’ve got a bit to run through today to give you a sense of the work that we are doing together. But… Read more »
E&OETV InterviewSky News Afternoon Agenda1 April 2026. Topics: hardship support from banks; RBA decision on surcharging and interchange. Laura Jayes: I want to bring it back to the situation we find ourselves in economically now. A lot of you are hurting. Petrol prices are pushing up really the cost of everything. Joining me now is… Read more »
Australian banks are stepping up to help customers struggling with loan repayments and higher cost of living challenges. ABA CEO Simon Birmingham said banks stand ready with practical support measures to help customers and businesses get through this tough time. “Banks know many of their customers are making tough financial decisions right now as… Read more »