Commonwealth Bank extends bushfire relief to Victorian customers

29 January 2003

The Commonwealth Bank has extended its special assistance package to customers affected by the Victorian bushfires. 

Customers in fire-affected areas can also fast-track their insurance and banking inquiries through a 24-hour toll-free emergency hotline set up by the Bank.

The toll free number is 1800 650 630.

Group Executive, Retail Banking Services, Mr Hugh Harley, said the Bank staff were on hand to assist customers through this emergency.

“The Commonwealth Bank is concerned at the impact the fires in Victoria will have on families and business people and we have put these special arrangements in place to help our customers,” Mr Harley said.

Key features of the Bank’s emergency assistance package include:

  • prioritisation of claims to CommInsure for customers seeking assistance for their home and contents insurance,
  • loan restructuring for business customers with existing loans, without incurring the usual bank establishment fees,
  • additional loans or changes to repayment arrangements for Commonwealth Bank home loan customers who may experience difficulties because of the fires,  
  • review and postponement of credit card instalments for customers of good standing and consideration of requests for emergency credit limit increases,
  • waiving prepayment charges over the next month for affected customers wishing to access term deposits, Commonwealth Investment Bonds and CBFC debentures ahead of the maturity date,
  • waiving branch service fees where the customer is looking to obtain a service from the Bank as a result of the disaster.

Mr Harley said that in addition to the hotline, the Bank’s branch staff and relationship managers are ready to discuss with affected customers their overall financial position and possible changes in repayment arrangements.