Westpac assists responsibly
(9 July 2008 – Australia) Westpac has announced a move towards more responsible banking operations by removing all exception fees from its Basic bank account.
The move to cut costly exemption fees from the basic account follows the Westpac Responsible Lending Principle by supporting customers facing financial difficulty.
Westpac group executive, Consumer Financial Services, Peter Clare said that many customers of this account, particularly pensioners and other welfare recipients, are on tight budgets.
He added that it is important to provide these customers with a bank account that best suits their individual circumstances in these difficult economic times.
The change now provides an option that is exception fee free, has no monthly service fee and allows unlimited Westpac transactions across branch, ATM, EFTPOS, Telephone and Internet Banking.
While the move adds to Westpac’s position as a socially responsible company, it also highlights the effective combination of core products and responsible banking.
The move follows the launch of Westpac Assist, a special unit dedicated to identifying and assisting customers at risk of falling into financial difficulty.
Since its launch, Westpac Assist has helped more than 2,700 customers regain control of their finances and avoid defaulting on their financial obligations to Westpac.
Westpac group executive, Consumer Financial Services, Peter Clare said that many customers of this account, particularly pensioners and other welfare recipients, are on tight budgets.
He added that it is important to provide these customers with a bank account that best suits their individual circumstances in these difficult economic times.
The change now provides an option that is exception fee free, has no monthly service fee and allows unlimited Westpac transactions across branch, ATM, EFTPOS, Telephone and Internet Banking.
While the move adds to Westpac’s position as a socially responsible company, it also highlights the effective combination of core products and responsible banking.
The move follows the launch of Westpac Assist, a special unit dedicated to identifying and assisting customers at risk of falling into financial difficulty.
Since its launch, Westpac Assist has helped more than 2,700 customers regain control of their finances and avoid defaulting on their financial obligations to Westpac.
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