Borrow
Big 4 bank offers $10m in grants to flood-affected customers
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
A big four bank has launched a $10 million Flood Support Fund to provide grants to customers and businesses in flood-affected areas.

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.
“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.
About the author

About the author


Banking
AMP Bank GO adds business overdraft to mobile platform for small businesses
AMP Bank has launched a business overdraft feature within its mobile-first banking platform AMP Bank GO as cash flow concerns continue to affect small business owners across Australia. Read more

Banking
Bendigo Bank named most trusted bank in Australia for 10th consecutive quarter
Bendigo Bank has retained its position as Australia's most trusted bank, according to the latest trust rankings released by research firm Roy Morgan. Read more

Banking
Account-to-account and instant payments set to reshape global payments landscape
A new report from Capgemini predicts that instant payments will account for 22% of all non-cash transactions globally by 2028, signaling a major shift in the payments industry. Read more

Banking
Powell's Jackson Hole speech to shape market expectations on rate cuts
All eyes are on Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole symposium, as investors anxiously await clues about the central bank's future rate decisions. Read more

Banking
Bendigo Bank economist forecasts stable rates for 2024, cuts in 2025
Bendigo Bank's Chief Economist David Robertson is maintaining his prediction that the Reserve Bank of Australia (RBA) will keep interest rates unchanged throughout 2024, with cuts likely to begin in ...Read more

Banking
Hawkish central bank expectations dampen market sentiment, boosting dollar
Recent economic data and central bank communications have dampened the market's appetite for risk assets, leading to a stronger US dollar and a pullback in commodities and equities, according to Ipek ...Read more

Banking
Bank of England expected to provide guidance on future rate cuts at today's MPC meeting
European and UK stocks are outperforming their US counterparts due to a combination of factors, including high valuations in the US, strong corporate earnings from European companies, and expectations ...Read more

Banking
Investors advised to prepare for central bank policy divergence, says deVere CEO
The Bank of England, European Central Bank (ECB), and US Federal Reserve are set to take different paths in their monetary policies, which will significantly impact investors around the world, ...Read more

Banking
AMP Bank GO adds business overdraft to mobile platform for small businesses
AMP Bank has launched a business overdraft feature within its mobile-first banking platform AMP Bank GO as cash flow concerns continue to affect small business owners across Australia. Read more

Banking
Bendigo Bank named most trusted bank in Australia for 10th consecutive quarter
Bendigo Bank has retained its position as Australia's most trusted bank, according to the latest trust rankings released by research firm Roy Morgan. Read more

Banking
Account-to-account and instant payments set to reshape global payments landscape
A new report from Capgemini predicts that instant payments will account for 22% of all non-cash transactions globally by 2028, signaling a major shift in the payments industry. Read more

Banking
Powell's Jackson Hole speech to shape market expectations on rate cuts
All eyes are on Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole symposium, as investors anxiously await clues about the central bank's future rate decisions. Read more

Banking
Bendigo Bank economist forecasts stable rates for 2024, cuts in 2025
Bendigo Bank's Chief Economist David Robertson is maintaining his prediction that the Reserve Bank of Australia (RBA) will keep interest rates unchanged throughout 2024, with cuts likely to begin in ...Read more

Banking
Hawkish central bank expectations dampen market sentiment, boosting dollar
Recent economic data and central bank communications have dampened the market's appetite for risk assets, leading to a stronger US dollar and a pullback in commodities and equities, according to Ipek ...Read more

Banking
Bank of England expected to provide guidance on future rate cuts at today's MPC meeting
European and UK stocks are outperforming their US counterparts due to a combination of factors, including high valuations in the US, strong corporate earnings from European companies, and expectations ...Read more

Banking
Investors advised to prepare for central bank policy divergence, says deVere CEO
The Bank of England, European Central Bank (ECB), and US Federal Reserve are set to take different paths in their monetary policies, which will significantly impact investors around the world, ...Read more