BOQ Responds to QLD & NSW Flooding

Wednesday, 08/12/2010

BOQ today announced plans to help Queensland and New South Wales customers affected by flooding this week.

BOQ Managing Director & CEO David Liddy said to assist the Bank’s customers who’ve been impacted as a result of the floods, BOQ has put together a special assistance package.

BOQ insurance customers can contact the Bank’s insurance partners Vero Insurance, St Andrew’s and GIO for insurance claims. The Bank’s insurance partners have indicated they’ll have well-manned call centres and officers on the ground to assist with customer enquiries.

Lending and Credit Cards

• Restructuring of home/business and personal loans, including suspension or recasting of repayments without impacting arrears (on a case-by-case basis). All bank fees (establishment or conversion) will be waived in these instances.

• Waiver of establishment fees for personal loans and overdrafts where related to the provision of assistance.
• Customers with fixed rate loans who are ahead of their scheduled repayments will be allowed to redraw their early repaid principal at no cost.
• Deferral of equipment finance repayments, when required, for up to three months.
• Each Special Assistance Lending Application will be assessed on a case-by-case basis

• For Term Investment customers, waiver of fees and penalties related to breaking the term deposit if required to access cash (on a case-by-case basis).
• Waiver of over-the-counter service fees (e.g. bank cheques or cashing of cheques) resulting from the disaster. 

In the event that customers have lost access to their PC or Internet the BOQ Customer Contact Centre will:
• action BPay for customers who have an existing Internet Banking and or Telephone Banking profile for amounts less than $5000 in the situation where they have lost their PC or lost access through down power lines, phone lines, etc.
• transfer customers to Customer Relations for special needs other than actioning BPay on behalf of the customer. 

Hardship Provisions
• Under the Bank’s current Hardship Assistance Policy the customer’s Branch Manager/Lender would discuss hardship with the customer and complete the application and submission.
• The Hardship Team can take application details over the phone in the event that the customer cannot contact their branch.
• When the Hardship application is taken over the phone the Hardship Team will action in partnership with the Branch to process these applications and submissions. 
• Customers can contact the Hardship Team on 1800 079 866 

BOQ Managing Director David Liddy said the Bank has a strong commitment its customers and the wider community and understands how significantly this flooding will impact all parts of the community.

“Our hearts go out to all those affected by this disaster and we really want to help those affected by the floods to get back on their feet as quickly as possible,” Mr Liddy said.