Talk to you bank if you’ve been impacted by floods
![<strong>Bank support to flood impacted Kimberley region</strong>](https://www.ausbanking.org.au/wp-content/uploads/2023/01/WA-Floods-Banner.jpg)
9 January 2023
The Australian Banking Association said banks are ready to support communities impacted by flooding in the Kimberley region.
WA emergency services described ex-tropical cyclone Ellie as producing the worst flooding ever seen in the region. There has been significant damage to properties and businesses, and challenges in evacuating locals to safety.
Chief Executive Officer, Anna Bligh said, “This weather system has affected many in the region and banks stand ready to support impacted communities and businesses. Our message to those experiencing these challenging times is ‘don’t tough it out on your own’. When you can, call your bank if you are in financial difficulty, they are ready to help.”
“Banks hardship teams have experience working with those impacted by floods and can assist with a range of practical measures to support people to get through,” Ms Bligh said.
Depending on individual circumstances, ABA member banks offer assistance to help customers including:
- 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
“Our thoughts are with emergency services, those lending support to others and the entire Kimberley region”, said Ms Bligh.
Latest news
The ABA has today released the findings of a strategic review undertaken by Accenture into the roll-out of Australia’s Consumer Data Right (CDR) regime. The CDR went live to customers of major banks in July 2020, and to customers of other banks in July 2021. Approaching 4 years since its launch, the ABA commissioned Accenture… Read more »
The Australian Banking Association welcomes ASIC’s approval of an updated Banking Code of Practice that will continue to drive better banking outcomes for customers. The updated Code strengthens consumer protections by providing customers with safeguards that are in addition to the law. ABA CEO Anna Bligh said this Code will provide an even higher… Read more »
Australia’s digital banking boom is continuing with payments by mobile wallets surging by 35 per cent in the last year alone, according to a new report released today by the Australian Banking Association. The 2024 ‘Bank On It’ Report shows that in the last year alone customers made $126 billion in payments with their mobile… Read more »