Banks are ready to assist customers in financial difficulty
3 June 2021
Customers affected by the mouse plague are being encouraged to contact their bank to access assistance on offer, which can include deferring principal payments on business loans, credit card and personal relief and waiving costs for withdrawing term deposits early.
Chief Executive Officer of the Australian Banking Association Anna Bligh said as the plague continues to worsen banks are ready to assist communities and have been helping customers in need.
“Whether it be a drought, flood, COVID-19 or a mouse plague, Australian banks are committed to assisting customers in need,” Ms Bligh said.
“I’m urging anyone who has been affected by the mouse plague to get in touch with their bank and find out about the assistance on offer.”ABA CEO Anna Bligh
“I’m urging anyone who has been affected by the mouse plague to get in touch with their bank and find out about the assistance on offer.”
“No one needs to suffer in silence and we all know natural disasters and plagues can bring unwanted stress into people’s lives, so customers should make the most of this opportunity and speak to their bank to find out what’s on offer.”
ABA member banks are offering a range of assistance measures to help customers in need. These measures can include:
- Deferring principal payments on business loans and/or leasing payments
- Offering a reduction on home loan and personal loan repayments
- Credit card and personal loan relief
- Waiving application fees for restructuring business facilities
- Mental health support via specialist programs
Customers are encouraged to contact their bank directly to discuss hardship arrangements available to them.
Hamish MacDonald: A Senate inquiry is examining a wave of bank closures that have hit regional Australia particularly hard. More than 1600 bank branches have closed nationally in the past six years, including 309 in the last financial year. Like post offices and milk bars, bank branches form part of the architecture of regional communities… Read more »
New laws banning the use of credit cards for online gambling are one step closer with the introduction of the Federal Government’s Interactive Gambling Act 2001 Bill to Parliament. The Australian Banking Association (ABA) has welcomed this milestone saying the new laws will make it illegal for an online gambling company to accept a credit… Read more »
The Australian Banking Association (ABA) has welcomed the introduction of new legislation to boost the security of identity verification services.