Skip to main content
Financial Assistance Hub

Banks offer flood victims a financial lifeline

3 March 2022

Australia’s banks have announced options to defer loan repayments for up to 3 months for those customers affected by the flood disasters in NSW and Queensland.

Australian Banking Association CEO Anna Bligh said: “As people affected by these terrible floods start the long, slow recovery, this will give some financial peace of mind”.

“Loan deferral or reduced repayment arrangements for home, personal and some business loans are being offered across individual banks”.

“Customers are encouraged to talk to their bank, as soon as they are able, and find out what assistance is available to get them through this tough time”.

“Once the worst of the emergencies are over and the clean-ups begin, we want Australians who have been impacted to know their bank is ready with tailored support to assist as they recover,” Ms Bligh said.

“The message from banks is clear: don’t tough it out on your own, call your bank, they are ready to help”.

ABA member banks offer a range of measures to help customers affected by natural disasters.


Depending on your 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  

Don’t tough it out on your own

Latest news

1 / 3
Media Releases
Banks strengthen support for customers facing financial difficulty
8 July 2025

The Australian Banking Association (ABA) has released an updated industry guideline setting out best practice for banks when assisting customers experiencing financial difficulty. The updated guideline reflects the industry’s ongoing commitment to support customers when they need it most. ABA CEO Anna Bligh said this guideline builds on the existing obligations as well as the… Read more »

Read more
Transcript
Launch of Confirmation of Payee
2 July 2025

ABA CEO Anna Bligh: Well, here we are on the front line of the fight against scams. This is one of Australia’s largest banks, and the team of people here talking with customers, trying to protect customers and fight against scammers. Today, here we are launching a new piece of technology called Confirmation of Payee…. Read more »

Read more
Media Releases
​Australian banks launch new defence in battle against scammers
2 July 2025

Australian banks have today unveiled their latest scam fighting technology, with the launch of Confirmation of Payee – a new name-matching service designed to help protect customers from being tricked into sending money to criminals. Banks have invested $100 million in this new technology which is a key initiative of the sector’s Scam-Safe Accord –… Read more »

Read more