We understand your situation can change for many reasons, like:
- illness or injury,
- unemployment,
- relationship breakdown, or
- a sudden reduction in income.
This can affect your financial wellbeing and make it hard to make your repayments.
If you're experiencing financial difficulty, we're here to help. We'll work with you to understand your situation and explore if hardship assistance is an option.
Feeling overwhelmed?
If you’re worried about debt or unsure where to start, free and independent advice is available. The National Debt Helpline can talk through your options with you.
Call 1800 007 007An unfathomably large thank you.
Beyond the relief I felt regarding the favourable outcome of my hardship assistance application, I was truly impressed by the exemplary level of customer service I received. The professionalism, empathy, and attentiveness shown made a real difference during a challenging time. I cannot thank the team enough for their support, and I look forward to continuing as a loyal P&N Bank customer.
How we may be able to help
Depending on your situation, examples of the help we may be able to offer include:
Help managing your finances
You may find these tools and guides helpful if you’re struggling to manage your money:
- National Debt Helpline — 1800 007 007
A free, independent service offering confidential financial counselling to help you manage debt, understand your options, and plan your next steps. Available by phone or webchat. - Your Financial Wellness
An online tool designed to help you improve your financial literacy, build confidence, and make informed decisions about managing your money. - mymo by P&N Bank
A free money management app that lets you see all your accounts from different financial institutions in one place. This can help you track your spending, set budgets, and understand the bigger picture of your finances. - MoneySmart
A government-run website providing clear information and guidance to help you manage money, reduce debt, and make confident financial decisions. - How to create a budget in five easy steps
A simple, step-by-step guide to creating a budget that works for you – including tips to track expenses, set goals, and take control of your money. - Easy online calculators
A range of online calculators to help you explore different financial scenarios, estimate costs, and understand how changes could impact your finances.
Call us
Call our Financial Hardship team between 8:30am and 5pm AWST, Monday to Friday.
Apply online
Complete the Application for Financial Hardship Assistance form online.
Download application form
Download and print. Once complete, return it by post, email, or to your nearest branch.
Important: Please include any required supporting documents with your application for financial hardship assistance. If you have any questions, you can email the team directly at financialhardship@pnbank.com.au.
Financial hardship and your credit rating
Under legislation introduced on 1 July 2022, if you receive help for financial hardship, P&N Bank is required to report that you are under 'financial hardship assistance'. This will appear on your repayment history indicator and remain visible for 12 months from the date the assistance is provided. We do not report the reason for the hardship, and no details about your personal circumstances are shared with credit providers.
Financial hardship assistance is designed to help you get back on track. However, if the agreed arrangement is not met or the terms of the assistance are not followed, we reserve our rights to take further action line with your loan contract.
The financial hardship assistance we can offer will depend on your circumstances and the type of difficulty you're experiencing.
Depending on your situation, assistance may be offered in the following ways:
- Deferred repayments – You may be able to defer repayments for a set period of time.
- Temporarily reduced repayments – Your repayments may be temporarily reduced to make them more manageable, which could include an interest-only period.
- Interest-only repayments – For a limited time, you may be able to pay interest only on your loan, temporarily reducing your repayment amount.
- Payment test – In some cases, you may be asked to make regular repayments at an agreed amount for a set period to demonstrate that repayments are manageable.
- Loan restructuring – In some cases, your loan may be restructured (following discussions with a lender) to better align your repayments with your circumstances.
- Capitalising arrears – If repayments are deferred during a period of financial difficulty, your repayments may be recalculated over the remaining loan term once the assistance period ends. This helps spread any deferred repayments across future repayments.
- Assistance to sell – Assistance may be provided to allow for the sale of an asset or property that is secured against your loan with P&N Bank.
- Fee waivers – Certain fees may be waived to help reduce financial pressure during a hardship period.
We assess each application on its merits and will work with you to find the most appropriate form of support for your situation.
If you have a credit card, personal loan, or home loan with P&N Bank and are experiencing financial difficulty, you may be eligible for financial hardship support.
If you'd like to discuss your current situation with us, please contact us on 1300 591 276.
Please note we're only able to offer financial hardship assistance to customers that have a loan or credit card with P&N Bank.
If you apply for financial hardship assistance, we’ll ask for some information to help us understand your situation. This may include:
- Your last two pay slips, or a letter from your employer verifying your employment and income. If you're self-employed, you'll need your last two tax returns.
- Recent bank statements or transaction history for any accounts not held with us.
- Confirmation from Centrelink of any current benefits you receive.
- Any other documents that show your income.
Depending on your circumstances, we may also ask for additional information, such as:
- A medical certificate or relevant medical documents
- A notice of employment termination
- Relevant legal documents
- Any other information that may help support your application
If you're unsure what to provide or would like to talk through your situation, please call us on 1300 591 276. Our team is available Monday to Friday, between 8:30am and 5.00pm AWST.
We’ll acknowledge your request for financial hardship assistance within two business days. When reviewing your application, we may contact you if we need additional information to support your request.
We'll let you know the outcome of your application, including whether we can offer financial hardship assistance or other support, within 21 days.
If you'd like an update on your application or have any questions, please call us on 1300 591 276. Our team is available Monday to Friday, 8:30am to 5pm AWST.
As a customer-owned bank, our priority is always the wellbeing of our customers. We offer a range of emergency hardship support options during natural disasters, such as bushfires and floods.
During these events, we'll share key updates and support options on our website.
While we’ll always try to support customers experiencing financial difficulty, we may not always be able to offer the assistance you’re after.
If you:
- are not satisfied with the response or support provided by P&N Bank, or
- would like to make a complaint about how your hardship request was handled
you can use our internal dispute resolution (IDR) process by contacting our Member Engagement Team:
Online: Feedback form
Email: member.advocate@pnbank.com.au
Phone: 13 25 77
Mail: Attn: Member Advocate, P&N Bank, PO Box 8609, PERTH BC WA 6849
If you're still not satisfied after raising your concerns with us, you can contact the Australian Financial Complaints Authority (AFCA). AFCA is an independent external dispute resolution scheme (EDR) and is free to customers of financial institutions.
AFCA's contact details can be found on their website.
Please note: You should first try to resolve your dispute with P&N Bank before contacting or lodging a dispute or complaint with AFCA.
Australian legislation outlines your rights to financial hardship assistance and how banks and financial institutions must manage applications.
There are three key frameworks that govern how financial hardship assistance is considered, including:
- The National Consumer Credit Protection Act 2009 (NCCP Act), which includes the National Credit Code
- The Customer Owned Banking Code of Practice
- The Australian Government’s hardship principles: A common approach for assisting borrowers facing financial hardship
These frameworks help ensure hardship requests are assessed fairly and consistently.
If you're worried or unsure about your rights, you should seek independent legal advice.