Bank of Queensland Announces Flood Support Initiatives Including Donation to Queensland Flood Appeal

Sunday, 27/01/2013

We have moved quickly to put in place a range of initiatives to support customers and communities impacted by the major flooding taking place in Queensland and northern NSW. 

BOQ has established a package of relief measures for impacted customers, including the ability to defer mortgage and loan repayments for a period. A special Flood Hotline has been set up for customers with questions or those requiring urgent assistance and can be contacted by calling 1300 737 766. 

BOQ Chief Executive Officer Stuart Grimshaw said BOQ stood ready to help those severely impacted by the weather, and encouraged customers to call to discuss their situation if necessary. 

“These floods are devastating for many communities, particularly as so many are only just getting back on their feet after experiencing similar events just a couple of years ago,” Mr Grimshaw said. 

“Our Owner Manager branches are small businesses themselves and understand only too well the impacts these events can have, so we encourage our customers to contact us if they need assistance.” 

Mr Grimshaw said BOQ would make a contribution of $100,000 to the Queensland Flood Appeal which has been established by Premier Campbell Newman in conjunction with the Red Cross.
Key initiatives to help customers are as follows: 

Personal customers 

• Ability to suspend Home Loan and Personal loan repayments for a period
• Waive Home Loan and Personal Loan monthly fees for a period
• Access to discounted interest rates on Personal Loans taken out for the purpose of purchasing replacement goods
• Waive early withdrawal fees for those customers needing to access money from their Term Deposits
• Credit card repayment relief where appropriate 

Small Business Customers 

• Ability to suspend business loan repayments for a period
• Ability to vary business loans and waive the establishment fees on these variations where appropriate
• Ability to defer repayments on Equipment Finance facilities for a period
• Refund merchant fees for a period 

Insurance customers 

• Vero customers with insurance through BOQ – for assistance with flood and property related claims contact 1800 132 223