6 March 2025
Banks are on standby to assist customers across Queensland and Northern NSW who might be impacted by Tropical Cyclone Alfred in the coming days.
ABA CEO Anna Bligh said banks are closely monitoring the developing situation along the east coast and are putting in place arrangements to support customers in affected areas.
“This is a difficult time for many households, businesses and farmers across southern parts of Queensland and Northern NSW,” Ms Bligh said.
“I want to reassure customers that banks are here to support you. In the coming days, if you begin to face financial difficulties and need assistance, reach out to your bank.
“Our banks have highly experienced specialist teams ready to assist with any financial concerns or enquiries you might have.
“Banks have a range of practical measures that they can put in place to help you navigate through these uncertain times. You don’t have to tough it out on your own.
“It doesn’t matter if you’re an individual or a business customer, or both, banks have a variety of options available from repayment deferrals through to loan restructuring to help you get by.
“In the coming days, if you need help from your bank, contact them as early as possible to discuss what tailored assistance can be made available.”
Depending on individual circumstances, banks may be able to assist with:
- customised arrangements or deferrals of upcoming credit card payments or loan repayments
- temporary overdrafts or emergency credit limit increases
- restructuring of existing loans
- waiving or refunding fees and charges
- offering additional finance to help cover cash flow shortages.
Customers are encouraged to visit their banks’ website for regular updates. Due to the weather conditions, you may find your local branch is closed or on reduced operating hours. Branches will open again as soon as it is safe to do so.
For more information on Natural Disaster Assistance visit: https://www.ausbanking.org.au/natural-disaster-assistance/
Latest news
The ABA is reminding customers across North and Far North Queensland that they don’t have to tough it out on their own, as they continue to recover from February’s severe flooding event. ABA CEO Anna Bligh recently met with Queensland’s State Recovery Coordinator Andrew Cripps to discuss how banks can assist customers facing financial difficulty… Read more »
Banks stand ready to support customers in western Queensland and parts of New South Wales affected by heavy rainfall and flooding. ABA CEO Anna Bligh said customers don’t have to tough it out on their own and banks have a range of practical measures to assist those facing financial stress. “This is a challenging time… Read more »
The Australian Banking Association (ABA) welcomes the release of the 2025-26 Federal Budget that maintains confidence in our financial system. The ABA welcomes initiatives to: “This Budget provides extra support to Australians in the short-term whilst at the same time helping to address some of our longer-term challenges,” Ms Bligh said. “There are modest measures… Read more »