Westpac will provide disaster relief assistance for customers affected by flooding in western Queensland.
“Many communities have been hit by the worst flooding in more than 50 years,” said National General Manager Regional and Agribusiness, Peta Ward.
“Farmers are now facing widespread livestock losses and infrastructure damage that represent generations of work swept away.”
“In response to these floods, we’re launching a comprehensive Disaster Relief Package to provide immediate financial assistance to those affected. By providing financial breathing room, we hope affected Queenslanders can focus on what truly matters, the safety of their families and friends, and the recovery of their communities,” said Ms Ward.
Support for affected Business customers:
- Cashflow support via temporary overdraft may be available to assist small businesses up to a maximum of $15,000 and larger businesses up to a maximum of $50,000 depending on size and needs of the business*.
- Business loan customers may apply to defer repayments.
- Business customers with merchant facilities may be eligible to receive assistance, including monthly terminal fee refunds.
Support for affected Consumer customers:
- Home loan customers may apply to defer repayments.
- Customers with home and contents insurance may be eligible to make a claim.
- Credit card customers may apply to defer repayments to their card, while customers experiencing hardship may also be offered a halt on all interest accrual on unsecured credit products for a period.
- Term deposit customers experiencing hardship may apply to waive the minimum notice period to access funds prior to maturity.
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