Banks Drop Fees for Hurricane Sandy Victims

bank fees for hurricane victims
bank fees for hurricane victims

By Mandi Woodruff

With much of the northeastern United States either hunkered down for Hurricane Sandy or evacuating to higher ground, two of the nation's largest banks have given consumers breaks on fees until the storm passes.

Citibank (C), Capital One (COF), and Chase (JPM) alerted customers over the weekend that they would waive a slew of fees for customers in New York, New Jersey, and Connecticut through Wednesday.

UPDATE: You can add Wells Fargo (WFC) and TD Bank (TD) to that list as well.

Each bank offers slightly different deals here, so you'll want to double check by calling if possible. For the most part, here's what will be waived:

  • Overdraft Protection Transfers, Extended Overdraft, Returned Item and Insufficient Funds Fees for deposit accounts.

  • Late fees on credit cards, business and consumer loans, including mortgages, home-equity, auto, and student loans.

Just don't go too crazy with your plastic. Once this temporary grace period ends, consumers have until the end of the business day Thursday to check that their balances are current on all accounts, then fees begin anew.

Other big banks like Bank of America (BAC) have yet to issue similar announcements, and power will almost certainly be cut throughout the storm. If you lose Internet connection, keep tabs on your current balances by calling the bank's number on the back of your cards to avoid any fees.

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