Banks are ready to assist customers in financial difficulty
11 June 2021
Australian banks are supporting communities in the Victorian Gippsland region after devastating rain and floods have engulfed the area.
Flood waters have hit the region harshly, badly affecting residents including farmers, and the wild weather is expected to continue.
Australian Banking Association CEO Anna Bligh says banks have a range of measures in place for residents in need.
“Once conditions ease, it’s important for anyone impacted to know their bank is ready to provide assistance,” she said.
“During disasters like this, the message from banks is always clear: don’t tough it out on your own, your bank is ready to help.”
“During disasters like this, the message from banks is always clear: don’t tough it out on your own, your bank is ready to help.”
ABA CEO Anna Bligh
There are a range of services available from the banks, which include:
- Credit card, personal loan and home loan relief.
- Waiving fees and charges.
- Waiving the application fee for restructuring business facilities.
- Deferral of principal and/or leasing payments.
- Free professional and confidential counselling.
Anyone impacted by the floods is encouraged to contact their bank directly.
Latest news
Australian banks strongly support the RBA’s proposed ban on debit and credit card surcharges, while overwhelmingly calling for an alternative pathway forward on interchange fees. The ABA has made the following calls in a submission to the RBA’s current consultation on the Review of Merchant Card Payment Costs and Surcharging: ABA CEO Simon Birmingham said… Read more »
Australia’s banks welcome the passing through the Senate of new legislation to ensure payments laws are up-to-date and reflect today’s digital economy. The new laws will bring digital wallets, cash distribution services, buy now, pay later schemes and other emerging payment methods within regulatory oversight, significantly enhancing protections for customers. ABA CEO Simon Birmingham said… Read more »
The ABA welcomes the passage through the House of critical legislation to ensure Australia’s payments regulatory framework is brought up-to-date and urges the Senate to quickly pass this overdue legislation too. The proposed legislation will bring digital wallets, cash distribution services, buy now, pay later schemes and other emerging payment methods within regulatory oversight, significantly… Read more »