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Big 4 bank offers $10m in grants to flood-affected customers

  • March 25 2021
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Borrow

Big 4 bank offers $10m in grants to flood-affected customers

By Maja Garaca Djurdjevic
March 25 2021

A big four bank has launched a $10 million Flood Support Fund to provide grants to customers and businesses in flood-affected areas.

Big 4 bank offers $10m in grants to flood-affected customers

Big 4 bank offers $10m in grants to flood-affected customers

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  • March 25 2021
  • Share

A big four bank has launched a $10 million Flood Support Fund to provide grants to customers and businesses in flood-affected areas.

Big 4 bank offers $10m in grants to flood-affected customers

Westpac has announced a Flood Support Fund of up to $10 million to provide emergency grants for customers and employees in flood-affected areas across NSW and South-East Queensland.

The big four bank is offering $3,000 emergency grants to households to help with costs for essential items and services, as well as $5,000 reopen grants for business customers to assist the recovery and reopening process.

“The recent severe weather events have impacted tens of thousands of residents, and caused devastation to homes, farms and businesses across New South Wales and Queensland,” said Chris de Bruin, Westpac chief executive consumer and business banking.

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“We are providing up to $10 million in funding to enable our customers and employees to access grants to assist them with purchasing items and services that will help them get through this challenging time,” Mr de Bruin said.

Eligibility criteria for consumer customers:

  • Current Westpac Group customers who have banked with Westpac on or before 20 March 2021 and hold at least one active account.
  • Have experienced severe impact to their primary place of residence caused by or as a result of the floods (rent or own) – meaning that the property is no longer in a liveable condition.
  • One grant per household (a household is defined as a residential address).
  • Applies to primary residences as per Westpac’s customer records on 20 March 2021.

Eligibility criteria for business customers:

  • Current Westpac Group customers with a business trading/transaction account opened on or before 20 March 2021, with the business currently in operation.
  • Minimum total business lending limits (including equipment finance, term lending, working capital and invoice finance) of $250,000 per customer group.
  • Have experienced significant damage to, or destruction of, income-producing assets as a result of the floods. This could include business premises, equipment and loss of stock or livestock, but not loss of income.
  • One grant per business customer group.
Big 4 bank offers $10m in grants to flood-affected customers
Big 4 bank offers $10m in grants to flood-affected customers
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About the author

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Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

About the author

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Maja Garaca Djurdjevic

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

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