Media releases
Westpac supports customers in Whyalla
21 February 2025
Westpac & BankSA have today announced measures to support customers who may be impacted following the decision to put Whyalla steelworks into administration.
“This is a stressful time for many business owners and their employees. We want to assure our customers the bank is here to support them through this challenging time,” said Shane Howell, Westpac General Manager Commercial Banking.
“Westpac’s support package will complement the government assistance announced and include providing cashflow to help businesses continue to meet expenses or pay their staff.
“Our business bankers will be proactively reaching out to customers over the next few days to see if we can help. We also encourage any customer who needs assistance to give us a call. We provide a range of tailored support options to help customers in challenging circumstances,” said Mr Howell.
Support for affected Business customers:
- Cashflow support via temporary overdraft can be available to assist small businesses up to maximum of $15,000 and larger businesses up to a maximum of $50,000 depending on size and needs of the business*
- Business loan customers may apply to defer repayments
- Business customers with merchant facilities may be eligible to receive assistance, including monthly terminal fee refunds
Support for affected Consumer customers:
- Home loan customers may apply to defer or reduce repayments for a period of time
- Credit card and personal loans customers may apply to defer or reduce repayments for a period of time
- Term deposit customers experiencing hardship may apply to waive the minimum notice period to access funds prior to maturity
To access financial assistance:
- Westpac consumer customers can apply online, or call Westpac Assist on 1800 067 497. Business customers who need support can contact their Relationship Manager or call Westpac Assist on 1800 067 497
- BankSA consumer and business customers can apply online, or call BankSA Assist on 1800 679 461. Business customers who need support can contact their Relationship Manager
* Applications will be assessed on an individual basis. Credit assessment criteria apply. Interest, fees and terms and conditions apply.
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