Westpac NZ is offering a range of financial support to business and consumer customers affected by heavy rain in Otago and Southland.
Financial support options may include:
Business (including Agri) customers
- Suspension of principal payments on loans for up to three months.
- Deferred payment on credit cards for up to three months.
- A temporary overdraft facility.
Consumer customers
- Suspension of home loan payments for up to three months for individuals ahead on their repayments and who have a sufficient undrawn balance.
- Financial hardship assistance, which may include a reduction in loan repayment amounts for a period of time, access to term deposit funds or other support.
Westpac NZ Managing Director of Consumer Banking and Wealth, Helen Ryder, says the bank is on standby to provide emergency financial support, but its top priority is the safety of customers and staff.
“Our thoughts are with everyone caught up in what is clearly a distressing situation in parts of Dunedin and the wider region,” Ms Ryder says.
“We’re in regular contact with affected staff and we encourage people to make sure they look after their wellbeing, and reach out to friends and family where possible to ensure they’re safe and well.
“We’re contacting nearly 5,000 home, contents and vehicle insurance customers with helpful information should they need to make a claim.
“Customers needing help with any aspect of their banking should call our dedicated phone line on 0800 738 691 to see what support they may be eligible for.”
Westpac is also offering support to farmers in Otago and Southland who are dealing with waterlogged ground conditions from months of rain, which are heavily impacting milking and feeding of cows and the beginning of the lambing season.
