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Big four banks offer relief packages to NSW storm victims



Customers impacted by the storm can take advantage of waived fees and suspended repayments. Here's a full round-up of the bank relief packages.

The storm that shook NSW last weekend may have passed, but some residents are still feeling the brunt of the extreme weather. Following torrential rain and flooding, many homes, businesses and infrastructure were severely damaged over the weekend. To show support for their customers affected by the extreme weather, ANZ, Commonwealth Bank, NAB and Westpac have announced that they'll offer assistance packages to help storm victims get back on their feet.

Here we've outlined exactly what each of the packages includes and how you can make a claim.


ANZ’s assistance package includes:

  • Suspended repayments on loans, including credit cards, for up to three months (which may include interest capitalisation).
  • Waived fees associated with restructuring business loans considered necessary due to flood impacts.
  • Temporary adjustments to lending limits, including credit cards, to assist with unexpected costs.
  • Waived fees associated with replacement of damaged business EFTPOS/credit card terminal.
  • Early access to term deposits without incurring any fees for impacted customers.
  • Assistance such as emergency funds and temporary accommodation to eligible customers with Home and Contents insurance

If you’ve been impacted by the storms, ANZ encourages that you visit a local branch or get in contact with your relationship manager to discuss what you’re eligible for. You can also contact ANZ’s financial hardship team on 1800 149 549 if you’d like some advice on how to manage your finances following the storm.

Commonwealth Bank

Commonwealth Bank hasn't updated what flood victims can claim from their Emergency Assistance Package since announcing that the packages had been activated on social media, but its packages usually include:

  • Customised assistance for Commonwealth Bank home loan, credit card and personal loan customers who may experience difficulties because of the fires.
  • Loan restructuring for business customers with existing loans.
  • Allowing withdrawal of Cash Deposit Account Fixed Term Deposit funds before maturity without penalty.
  • Waiving the early termination amount for insurance payouts.
  • Expediting claims to CommInsure for customers seeking help through their home, contents and motor vehicle assistance.
  • Waiving other selected fees and charges (such as credit card fees).

If you're a CBA customer affected by the storms on the east coast, the bank encourages you to contact it 1300 720 814 immediately to discuss your options.


The National Australia Bank today announced its disaster relief package for customers affected by floods across NSW and ACT this week. The measures available for NAB customers include:

  • Credit card and personal loan relief where appropriate.
  • Suspending home and personal loan repayments.
  • Waiving costs and charges for withdrawing term deposits early.
  • Waiving home loan and personal loan application fees.
  • Support to restructure other existing bank facilities.
  • Provision of support and counselling by making NAB’s Employee Assistance Program available to customers.

Customers who need help with their finances can pop into their nearest NAB branch or contact NAB Assist on 1800 701 599. For emergency claims, please call 1300 555 013.


Westpac has also offered its Disaster Relief Package to customers suffering hardship following the East Coast severe weather event. The package includes:

  • Affected customers with Westpac home loans may apply to defer repayments for up to three months.
  • Businesses with existing loans can request loan restructuring without incurring the usual bank establishment fees.
  • Impacted credit card customers may request an emergency credit limit increase.
  • Affected credit card customer may apply to defer repayments to their credit cards for up to 90 days.
  • Customers wishing to purchase replacement goods may apply for a personal loan at a discounted interest rate with no establishment fee.
  • Westpac will waive interest rate adjustments for affected customers wishing to withdraw term deposits.
  • Affected Westpac customers with Home and Contents insurance may be eligible to receive assistance including emergency funds and temporary accommodation.

If you wish to take advantage of some of these relief measures or want to discuss alternative assistance, you should visit your local Westpac branch or contact Westpac Assist on 1800 067 497.

The big four frequently offer similar assistance, with ANZ and CBA offering assistance to dairy farmers last month and financial relief to bushfire victims in January this year.

If you're not banking with one of the big four banks and you've been affected by the storms, you'd be advised to get in touch with your financial services provider as soon as possible to discuss your options. The storms have also resulted in numerous insurance claims.

Picture: Twitter

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