Banks update guidelines to better support struggling customers

Australia’s banks have strengthened their commitment to supporting customers experiencing financial hardship, with new industry guidelines aimed at making assistance more compassionate and easier to access.

Released by the Australian Banking Association (ABA), the updated guidelines outline best practice for how banks should assist customers who are under pressure – whether due to illness, job loss, relationship breakdown or rising living costs.

ABA chief executive Anna Bligh said banks were focused on removing barriers and improving how they respond to financial difficulty. “When people are doing it tough, the last thing they need is a complicated or stressful process to get help,” she said.

The revised guidelines build on the existing Banking Code of Practice and encourage banks to:

• Spot warning signs earlier
• Reach out proactively
• Have clearer, more empathetic conversations
• Provide practical, personalised support

If you’re struggling with your mortgage or other repayments, don’t wait until things spiral. Banks are ready to help, and early assistance can make a real difference.

Feel free to get in touch if you’d like to understand your options or get help negotiating with your lender – I’m here to support you through the process.