Commonwealth Bank activates emergency package for customers affected by Townsville storm

Sydney, 20 March 2012: The Commonwealth Bank has activated its special emergency assistance package for customers and businesses affected by the high winds and severe rain in Townsville today.

Commonwealth Bank is concerned at the impact the flash storm has had on local residents and businesses across the Townsville.

As a result, special arrangements are in place to provide support to our customers should they need it, and our staff are ready to assist them promptly with their financial concerns and enquiries.

There are a number of options available as part of the Bank’s special assistance package, not limited to:

  • providing tailored solutions and assistance to Commonwealth Bank home loan, credit card and personal loan customers who may experience difficulties because of the flooding;
  • loan restructuring for business customers with existing loans, without incurring the usual bank establishment fees;
  • considering requests for additional loans (including emergency credit limit increases) where, based on our enquiries, the customer could meet the additional repayments without financial difficulty;
  • expediting claims to CommInsure for customers seeking help through their home, contents and motor vehicle insurance;
  • 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 and;
  • waiving branch service fees where the customer is looking to obtain a service from the Bank as a result of the disaster.

Our staff will be happy to discuss with customers their overall financial position, any change in repayment arrangements, or to consider options for additional loan funds. We understand that each customer will have different needs and we encourage our affected customers to discuss their individual circumstances with us by phoning: 1300 720 814.


- ENDS -


For more information contact:

Tracy Hicks, Commonwealth Bank
Ph: 02 9118 6919