ASB personal and business customers hardest hit by recent weather offered $2,000 one-off payment

03 February 2023

ASB is offering customers whose homes have been red or yellow stickered following the recent extreme weather events in the upper North Island a one-off $2,000 ex gratia payment per household to help with unforeseen costs.  

Following the states of emergency declared in Auckland and Northland and red rain warnings in other parts of the North Island anyone whose home address listed with the bank on Friday 27 January is red or yellow stickered as a result of the Auckland Anniversary weekend flooding, and who had an active banking relationship with ASB on that day, is eligible to receive the payment. 

ASB Chief Executive Vittoria Shortt says the bank hopes to take some immediate pressure off as customers grapple with uninhabitable homes and unexpected costs. 

"We know this is an incredibly difficult time for many households and businesses and we want to help people get back on their feet. Right now they may need a place to stay, or to replace flood damaged essentials like clothing or bedding, or perhaps to replace spoiled food and grocery items. Eligible red or yellow stickered ASB customers will receive $2,000 per household, to use as they need.

"This support is not just for customers with ASB home loans, we're here to help all affected customers whether they have a savings account, credit card, personal loan, or ASB Kiwisaver Scheme account with us."

ASB has a number of employees who have been severely impacted by the flooding and is providing similar support for its own people.

ASB is also stepping up to support small business customers with a $2,000 payment for those that have suffered significant impact to their business operations as a result of the Auckland Anniversary weekend flooding, such as damage to stock, property or equipment. Business customers who have their main business account with ASB, a turnover of less than $2 million per year, and are based in a region where a state of emergency was declared may qualify for the one-off payment. Applications need to be received by 31 March 2023.

This new payment expands on ASB's existing financial assistance package available for storm impacted personal, business, and rural customers, including the option to suspend home loan principal repayments for up to three months, an overdraft of up to $10,000 for home loan customers and $2000 for other personal customers, and targeted solutions for eligible business and rural customers, including access to working capital of up to $100,000.

Eligible customers can call our dedicated phoneline 0800 272 735 (option 3) to apply for the payment. The offer is capped at $2 million across all personal and business customers.

For more information visit Extreme weather support l ASB

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