Many parts of the Northeast are just starting to recover from the storm and it will be weeks and even months before things return to normal. Banks were responsive to the situation by waiving fees and deadlines for certain payments for storm victims. If you’re in an area that was hit you should check to see if there is any relief offered by your bank.
Here is a run-down of the major banks:
For customers in Connecticut, Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia, Massachusetts, New Hampshire, Rhode Island and Washington D.C., certain fees will be waived through Nov.1, and customers have until the end of business on Nov. 2 to make a deposit or payment to avoid any fees that they might incur.
Bank of America
Bank of America has activated its disaster relief program, which involves closing facilities in affected states and offering relief to customers.
Several forms of assistance are available to customers in Rhode Island, New Hampshire, Maine, Massachusetts, Connecticut, New Jersey, New York, Pennsylvania, Delaware, Maryland, Virginia and Washington D.C.
Through Thursday, Nov. 1, Wells Fargo will waive late fees on credit cards, certain business and consumer loans. Customer will get refunds for fees incurred by using another bank’s ATM. The benefits apply to customers in New Jersey, New York, Connecticut, Pennsylvania, Virginia, Washington, D.C., Maryland, and Delaware.
Citibank is ready to provide financial recovery solutions to customers affected by the storm. For example, the bank is waiving non-Citibank ATM fees. Customers should contact the bank for other form of financial assistance if they are in regions hit by the storm.
Upon request by customers (small business customers included) affected by Hurricane Sandy, TD Bank will refund non-TD ATM fees, overdraft fees and overdraft-protection fees. Also, customers with CDs will not incur early withdrawal penalties. Late fees on TD loans and credit cards may also be refunded.
Capital One did not mention any specific fee waivers, but the bank is offering assistance to affected customers.
Sovereign Bank will refund fees for overdraft, overdraft-protection transfers, extended overdrafts and late payments on consumer and small business loan (less than 30 days past due). Loans of up to $10,000 at a low interest rate are offers to customers have their property damaged due to the hurricane.
Many banks have additional support so it’s suggested you check with them directly about your situation.
Category: News & Trends