At Westpac, we are committed to responsible lending practice.
There is no doubt that consumer debt levels within Australia are growing, and that we are witnessing a wider social change in the way people borrow and save. And, while we have not seen any substantial shifts in the number of overdue accounts or bankruptcies, we acknowledge our obligation to market our products responsibly and stay in touch with the expectations of customers and the community.
We apply strict and sensible criteria to our lending to ensure that we only lend affordable amounts for our customers. We include an affordability statement on all credit increase offers and actively encourage our customers to talk to us if they are having difficulty managing their credit card debt.
Read more about our approach in Our Principles for Responsible Lending.
Westpac Principles for Responsible Lending (PDF 32Kb)
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