Explain arrears

The National Letters

IT seems Westpac is continuing to deduct personal loans from individuals who have not been paid on a fortnightly basis causing arrears in their personal accounts.
This is despite the Government agreeing with commercial banks for a three-month concession on personal, business and housing loans repayment due to Covid-19 and its impacts.
Can the bank’s management justify why individuals who have personal loans seem to have arrears in their account?
Other banks have come clearly in the media explaining about the three-month buffer period.

Frustrated Customer
POM

One thought on “Explain arrears”

  • 3 months as the Prime Minister JM declares to stop deduction from all banks. Big banks likes BSP is still deducting,. Can some one from the authority Other banks have come clearly in the media explaining about the three-month buffer period.

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