Don’t tough it out on your own

14 October 2022
With floods continuing to affect Australians, particularly those across the east coast of Australia the Australian Banking Association (ABA) urges all customers affected to contact their bank to find out about support that may be available.
Australian Banking Association Chief Operating Officer, Vanessa Beggs said Australia has once again been affected by multiple flood events which has tested the nations resilience.
“Australian banks are supporting their customers with tailored assistance to help them at this difficult time,” Ms Beggs said.
“Natural disasters can quickly turn into a financial emergency. To best prevent this from happening customers are encouraged to reach out to their bank as early as possible to get the support they need.
“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,” she 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
Former Federal Finance Minister and Senate Leader, The Hon. Simon Birmingham, will join the Australian Banking Association as Chief Executive Officer. ABA Chair and National Australia Bank CEO Andrew Irvine today announced Mr Birmingham’s appointment, replacing retiring CEO, The Hon. Anna Bligh AC. “We are delighted to have Simon lead our industry and help ensure… Read more »
Rick Hind: Anna Bligh is the CEO of the Australian Banking Association. Welcome back to 105.7 ABC Radio Darwin. Anna Bligh: Good morning, great to be with you. Rick Hind: Is it getting easier to scam people out of money from their bank accounts? Given how good technology is, the scammers seem to have as… Read more »
With end of financial year nearly here, the ABA is reminding customers to be on high alert for scammers looking to steal your hard-earned money. Common EOFY scams to be on the lookout for: ABA CEO Anna Bligh said with the end of financial year approaching, scammers are lining up and looking to cash in…. Read more »