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Financial assistance: Navigating the support you need to recover

Sometimes a little help goes a long way.

October 2020 - 3 minute read

What’s in this article:

  • Financial assistance options
  • Coping with job loss and income reduction
  • Looking after you


Financial Assistance Options 

If you are experiencing financial difficulty due to Covid-19, we may be able to provide a tailored solution that will give you the support you need to get back on track. Please visit our financial assistance page for more details and to apply.

Find out more

Help with your business

Maybe you’ve been thinking about deferring a business loan or credit card repayments, getting a temporary overdraft, or asking for merchant terminal fee relief? You can find all sorts of answers on our Help for business customers page.

Get a regular income with your term deposit

Have you thought about having your interest paid monthly on your term deposit? It won’t make any difference to the total interest you earn but can provide you with a more regular income. Visit our Term Deposit page for more information on how term deposits work, interest rates and more.

Secure your financial future with a plan

One step you can take to help manage your money and increase your confidence is to get a clear picture of your financial position. If you know where you’re spending your money and where you can save, life can feel a whole lot simpler.

Check out our Managing Money guide (PDF 1MB) for a 5-step process to get your finances on track. Or try the Westpac App Budget Tools.

Coping with job loss and income reduction

Looking for a new job and finding ways to maintain or increase your income can feel daunting. See our Have you been financially impacted page for practical ways you can prepare and plan your financial future. You can also work through the uncertainty of unemployment with the articles and tools in our Navigating job loss hub.

Perhaps you’re trying to maintain an income in retirement and finding the ongoing economic situation more difficult to navigate. Speaking with a financial advisor about your options may help. No matter what you decide to do, always get advice from a qualified professional. 

Reach out to see if you’re eligible for additional payments from government support services. Start with Services Australia. You may also wish to see if you can get help with your utility bills, such as gas and electricity.

Looking after you

Looking after your overall financial wellbeing is important, but it’s also critical to look after your mental wellbeing and physical health. The professional advice is to consult a doctor if you’re not coping or you’re feeling noticeably anxious. You may find you’re eligible for Medicare rebates on psychological services. Many companies have employee assistance programs which include counselling services, which may also be open to family members. Check with your employer on what’s available.

You can also contact LifeLine on 13 11 14Beyond Blue 1300 22 4636 and Headspace for support.

Support for our remote customers

No matter how remote your location in Australia, you can find out about your banking with our Remote banking services, or call our Indigenous Call Centre Team on 1800 230 144. This service is available Monday to Friday 8:00am – 5:30pm, CST and offers translation services.

You may find these useful

Budgeting to help recover from a financial setback

Getting your finances back on track following a financial setback can help you feel more in control and confident about the future.

Saving for emergencies

There are many things that can disturb your sleep when it comes to money. Having an emergency fund saved can help to ease those concerns.

Looking after yourself: Mental health support

Tips that may help you meet the often unusual and unpredictable challenges of recovering from a crisis.

Things you should know

This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness for the information to your own circumstances and, if necessary, seek appropriate professional advice.

© Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.