Major banks offer support for flood-affected New Zealanders

by NZ Adviser10 Apr 2017
BNZ and ANZ have announced they will be providing relief packages for customers affected by the flooding resulting from the tail-end of Cyclone Debbie. 

BNZ stated on Friday it will provide financial flexibility and support for customers, both business and personal, who have been hit by flooding. They can apply to:
 ·        Access temporary overdraft facilities or credit limit increases
·         Restructure business loans without incurring fees
·         Suspend loan payments on business and home loans
·         Access term deposits early, and without penalty.

BNZ CEO Anthony Healy said the bank understands that customers will have different needs now and in the coming weeks.

“If you are a BNZ customer and you need assistance, please get in touch with us and we will do our best to help,” said Healy. 

“We know that our customers need to first look after themselves, their families and their businesses and that financial flexibility means different things to different people.”

ANZ will also provide a financial relief package for customers impacted by flooding in the North Island.

ANZ managing director of retail and business banking Antonia Watson said a number of customers have had property loss or damage as a result of severe weather in the aftermath of Cyclone Debbie.

“We are thinking of all that have been impacted,” said Watson. 

“We’ve been monitoring the impact of the flooding and have activated our financial relief package. We hope this is of help as people recover from this devastating flooding.”

In a statement, ANZ said the assistance package is offering:
  • The ability to apply for overdraft facilities;
  • Waiving fees associated with restructuring business loans or applying for new home or personal loans;
  • Access to term deposits without the usual stand-down period;
  • Affected customers with Home and Contents insurance may be eligible to receive assistance including emergency funds and temporary accommodation; and
  • Waiving life insurance premiums for up to three months for impacted customers of ANZ or its insurance group OnePath.

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