“Banks know many of their customers are making difficult financial decisions right now as the country navigates challenging economic conditions,” said ABA CEO Anna Bligh.
“Banks stood by their customers during the COVID-19 pandemic deferring payments for people who for the first time in their lives found themselves unable to pay. Banks stand ready to help people again now.”
“The earlier people reach out, the faster banks can help. Don’t tough it out on your own.”
The Australian Banking Association ads will feature on radio, in digital news and on social media for four weeks starting today.
Ms Bligh said banks may be able to help by:
- lowering home loan or credit card loan payments
- restructuring the length of a loan
- moving a customer to interest-only payments for a while
- deferring payments for a period.
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