Westpac has outlined a range of support measures available for businesses and households impacted by the severe weather in Far North Queensland.
Small business customers who meet the eligibility criteria can apply for a $3,000 grant per customer group to help with urgent expenses and repairs.
In addition, Westpac is offering tailored support for impacted customers through a disaster relief package including loan deferrals for up to three months and emergency credit card relief.
“It’s been devastating to see the ongoing impacts of Cyclone Jasper in Far North Queensland, and we know that this is an extremely stressful time for the communities impacted with homes, property and livestock lost,” said Jason Yetton, Consumer Chief Executive, Westpac.
“While the immediate focus is on the emergency response, our teams are standing by and ready to support our consumer and business customers who need a helping hand over the coming days and weeks.
“This couldn’t have come at a worse time for travel, tourism, and hospitality operators ahead of the holiday season, so we’re making grants of $3,000 available to impacted small business customers to help with emergency expenses and clean-up or repair costs.
“This support is also available for our agribusiness customers with farms, livestock and crops impacted by the flooding,” said Mr Yetton.
Support available for affected customers:
- Home loan customers can apply to defer repayments for up to three months.
- Credit card customers can also apply to defer repayments to their card for up to 90 days, while customers experiencing hardship can be offered a halt on all interest accrual on unsecured credit products for a period of up to three months.
- Term deposits customers can withdraw funds early without any interest rate reduction.
- Business customers can apply to defer repayments for up to three months.
- Business customers with existing loans can request loan restructuring without incurring the usual bank establishment fees.
- Business customers with merchant facilities are eligible to receive assistance, including monthly terminal access fee refunds for up to three months.
To access financial assistance:
- Westpac consumer customers can apply online at https://www.westpac.com.au/disasterrelief, or call Westpac Assist on 1800 067 497. Business customers who need support can contact their Relationship Manager or call Westpac Assist on 1800 067 497.
- St.George consumer customers can apply online at https://www.stgeorge.com.au/disasterrelief, or call St.George Assist on 1800 629 795. Business customers who need support can contact their Relationship Manager or call St.George Assist on 1800 629 795.
- Westpac’s Indigenous Call Centre Team is also available on 1800 230 144.
Flood grants eligibility criteria
Westpac’s flood grants are available for existing small business customers in Far North Queensland in flood impacted postcodes who have experienced significant damage to, or destruction of, income-producing assets as a result of the floods, urgent expenses, clean-up and repair costs. This could include business premises, equipment, and loss of stock or livestock. There is one grant per customer group and this must be deposited into a Westpac or St.George bank account.
The grants will be open for applications until 17:00 AEST on 5 January 2024 or until the fund is exhausted. Additional eligibility criteria apply.
