Media Release

BankSA today announced a relief package to assist customers suffering hardship as a result of the severe storms across South Australia.

BankSA’s Disaster Relief Package offers immediate financial help to customers affected by the storms, with BankSA staff providing additional support for those in need through local branches and contact centres.

Chief Executive of BankSA, Nick Reade, said fellow South Australians affected by some of the worst storms in the state’s history need not also worry about immediate financial commitments.

“This is a difficult time for many, and particularly for those South Australians living in flood-affected areas or who are still without power.  It’s extremely hard emotionally, physically but also financially,” Mr Reade said.

“By offering some additional support to our customers, we hope to help alleviate any concern they may have with their financial commitments so that they can concentrate on more important issues at hand.”

As part of BankSA’s Disaster Relief Package:

• Affected customers with BankSA home loans may apply to defer repayments for up to three months.
• Affected businesses with existing loans can request loan restructuring without incurring the usual bank establishment fees.
• Affected credit card customers may request an emergency credit limit increase.
• Affected credit card customers may apply to defer repayments to their card for up to 90 days.
• Customers wishing to purchase replacement goods may apply for a personal loan at a discounted interest rate with no establishment fee.
• BankSA will waive interest rate adjustments for affected customers wishing to withdraw term deposits.
• Affected BankSA customers with home and contents insurance may be eligible to receive assistance, including emergency funds and temporary accommodation, under the terms of their insurance policies.
• Customers experiencing severe hardship will also be offered a halt to all interest accrual or unsecured credit products for a period of up to three months.

BankSA customers who wish to utilise these special relief measures or need assistance are encouraged to contact BankSA Assist on 1800 335 544 to discuss their personal or business circumstances, or visit a local branch.

Customers are advised that due to storm impacts, BankSA’s Port Lincoln, Roxby Downs, Tumby Bay and Jamestown branches will be closed today.

Further information about BankSA’s Disaster Relief Package can be found at www.banksa.com.au

* Home & Contents Insurance is issued by Westpac General Insurance Limited (WGIL) ABN 99 003 719 319 (except workers compensation cover where applicable). BankSA – a division of Westpac Banking Corporation ABN 33 007 457 141 (the Bank) arranges the insurance, but does not guarantee the insurance. This information does not take into account your personal circumstances. Terms and conditions, and limitations and exclusions apply. Read the Product Disclosure Statement, to see if this insurance is right for you. WGIL is a subsidiary of the Bank.

© Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.

* Eligibility and credit criteria, terms and conditions apply.  This information has been prepared without taking your objectives, needs and overall financial information into account.  To request the full terms and conditions please contact BankSA.