Westpac suspends credit card interest payments for three months for COVID-19 hit customers

Westpac suspends credit card interest payments for three months for customers suffering from the coronavirus lockdown

• Westpac has suspended credit card repayments and interest for three months
• Australia’s second biggest bank giving relief to COVID-19 affected customers
• It caters for those who have either lost their jobs or had their hours reduced 
• Here’s how to help people impacted by Covid-19

By Stephen Johnson For Daily Mail Australia

Published: 04:24 BST, 24 April 2020 | Updated: 04:28 BST, 24 April 2020

Westpac has suspended credit card interest payments for three months for its customers suffering from the coronavirus shutdowns.

Australia’s second largest bank is providing relief to individuals who have either lost their jobs or had their hours cut.

It is the first financial institution to announce a series of measures to help COVID-19 customers as the Reserve Bank of Australia forecasts the steepest economic downturn since the 1930s Great Depression.

Westpac on Friday announced that for three months, credit card customers would accrue no interest on purchases or on existing debts.

Customers would also be entitled to a three-month repayment holiday and would continue to be allowed to spend on their credit card if they stay within the limit.  

Westpac has suspended credit card interest payments for three months for its customers suffering from the coronavirus shutdowns

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