Westpac says its will offer financial assistance to quake-impacted customers. Photo/Carla Gottgens.
Westpac says its will offer financial assistance to quake-impacted customers. Photo/Carla Gottgens.
All the major banks are offering financial assistance to quake-hit customers and businesses, including mortgage relief and access to savings.
ASB, Westpac Bank, BNZ and Kiwibank have followed ANZ in coming up with a package of options to help people affected by the quakes survive financially.
Affected Westpac customers willbe offered the chance to put their mortgage on interest only for up to six months or extend the term of the loan up to 30 years without being charged a fee.
For non-home loan customers the bank is offering an emergency overdraft of up to $500 and $5000 for home loan customers for 45 days.
People with term deposits and notice saver accounts will be able to take their money out immediately without paying a break fee.
While business customers are being offered an overdraft of up to $10,000 for 45 days and the chance to put off repaying their credit card for 90 days with possible emergency limit increases.
They will also be able to suspend their principal loan repayments on term facilities for up to 90 days.
The bank has urged impacted customers to call its contact centre or visit a branch.
ANZ yesterday said its affected customers could explore options with their banker and apply for short term funding or adjustments to lending limits to help with unexpected costs.
Some customers would also be able to get help with their mortgages which ANZ says could mean they make no payments for up to three months.
They can also discuss a waiver of application fees associated with restructuring business and farm loans and waive minimum merchant service fees for businesses which have lost most, or all of their volumes over EFTPOS.
All the major banks say most of their branches are now open although some in Wellington and parts of the South Island remain closed due to quake assessments still taking place.
Westpac opened its Kaikoura branch from 10am until 2pm today for cash and deposits but said its ATM was not working. Two of its branches in Wellington - Molesworth St and North End remain shut.
Image 1 of 24: Inside the Waiau Lodge Hotel after the devastating 7.5 earthquake hit New Zealand overnight, causing widespread damage. Photo / Belinda Feek
The BNZ said its Kaikoura ATM was also out of action because of damage to the fibre cable.
"We understand the telcos are working together on an interim solution."
BNZ's Kaikoura branch was still shut as of this morning as were five other branches in the greater Wellington region.
A BNZ spokeswoman said it had been able to get in touch with staff in Kaikoura fairly quickly after the quakes and all were fine including a heavily pregnant staff member who had been flown out of Kaikoura.
She said the bank was managing to successfully re-distribute call centre business away from its damaged Wellington offices and wait times had been "pretty good" yesterday.
Kiwibank, whose call centre operations are also Wellington based, said it was successfully routing calls through Auckland and Hastings and was setting up an additional Wellington emergency call centre facility today.
"We were well-prepared and there has been no disruption to Kiwibank customers," said the bank's spokesman.
ASB said all its branches were open with the exception of Queensgate Lower Hutt while the ANZ has said five branches remain closed in Wellington: Lambton Quay, Courtney Place, Molesworth Street, North Lambton Quay and Queensgate.
