Major banks announce relief packages for Northern Queensland flood victims
CommBank, NAB and Westpac are offering a range of emergency assistance measures for affected customers.
Three of the four major banks have announced relief packages for customers affected by flooding in Northern Queensland. The measures, available to both individuals and businesses, include emergency accommodation assistance, loan restructuring, waiving loan fees and other measures. Find out the details of each bank's measures, including how to access them, below.
CommBank is offering various assistance options for affected customers. This includes:
- Emergency assistance for CommInsure customers with damaged homes.
- Expedited claims for CommInsure customers.
- Customised assistance if you have a home loan, credit card or personal loan with the bank.
- CommBank will consider applications for additional loans and emergency credit limit increases.
- Business customers can apply for loan restructuring for existing loans.
- Fees will be waived for temporary and damaged EFTPOS terminals and merchant fees will be waived until trading recommences.
- Other selected fees and charges will be waived.
How to get assistance from Commonwealth Bank:
Call 1300 720 814 or visit a Commonwealth Bank branch.
Affected customers may be able to access any of the following:
- Credit card and personal loan relief.
- Suspended home and personal loan repayments.
- Support to manage existing agribusiness bank facilities.
- Waived costs and charges if you need to withdraw term deposits early.
- Waived personal and home loan application fees.
- Support for restructuring existing bank facilities.
- NAB's employee assistance will also be available to customers so they can access support and counselling.
How to get assistance from NAB:
- Individual customers can visit a NAB branch or call NAB Assist on 1800 701 599.
- Small businesses can call 1300 961 577.
- Agri customers can contact their bankers.
- For those with emergency claims or general insurance claims, call 1300 555 013.
- For those that need assistance with property and motor vehicle insurance, call 132 652.
NAB's general manager for retail in Queensland, Paul Collins, said it had been a difficult time in the area.
“This is a tough time for people and we want them to know that they have our support. From staff who need time off to customers needing to take a break from their mortgage repayments and we are here to help,” he said.
“We are here to support all NAB customers, employees and the wider community. Anyone who needs assistance or advice can contact us so we can discuss their circumstances and work out the best way to help.”
If you're an ANZ customer and have been affected by the floods in Northern Queensland, you may be able to access any of the following:
- Suspended repayments on loans and credit cards for up to three months.
- Waived fees on and restructuring of business loans.
- Temporary adjustments to lending limits, which includes credit cards.
- Waived fees if you need to access your term deposit balance.
- Waived fees to replace damaged business EFTPOS and credit card terminals.
- Relief assistance such as emergency funds and temporary accommodation to eligible customers with Home and Contents Insurance.
How to get assistance from ANZ:
- Customers can visit an ANZ branch or call the hardship team on 1800 149 549.
- Customers looking to lodge insurance claims can do so online or call 13 16 14.
Tony Tapsall, ANZ General Manager for Northern Queensland said: “While our immediate concern is for the safety of those in the impacted areas, we want all our customers impacted to know we’re ready to provide them with the support to help get them back on their feet."
"Our branches remain open and we encourage any customers that have been adversely impacted to get in touch as soon as they can to discuss their individual needs,” he said.