The coronavirus pandemic is causing financial difficulties for businesses as it continues to spread across the U.S. A record 3.3 million people filed for unemployment benefits as companies shutter businesses to limit gatherings of people in an attempt to contain the virus. If you’re unable to work or your employer has reduced your work hours due to COVID-19, you’re probably having trouble making your bill and mortgage payments, including credit card bills, student loan payments, etc.
The good news is that financial companies are trying to adjust to the current situation in order to help their customers and to soften the financial impact of the Coronavirus. In the past few weeks, many banks and financial companies have announced that they are taking steps to respond to the needs of individual and business customers affected by COVID-19.
Below is the list of banks offering relief to their customers affected by the coronavirus.
Ally Bank
Ally is offering the following financial support to their customers:
- Will defer payment for existing auto customers for up to 120 days(No late fees will be charged; finance charges will accrue)
- New auto customers will have the option to delay first payment for 90 days
- Existing mortgage customers will be allowed to defer payment for up to 120 days (No late fees will be charged; interest will accrue)
- Will waive overdraft, expedited checks and debit card fees for existing bank customers for the next 120 days
- Will waive fees on excessive transactions on savings accounts for existing bank customers for the next 120 days
To activate these and other forms of relief, customers should contact:
- Ally auto customer care at 1-888-925-2559
- Ally home loans customer care at 1-866-401-4742
- Ally bank customer care at 1-877-247-2559
Please visit Ally’s Coronavirus help page for more information and updates.
Bank of America
- Refund overdraft fees, non-sufficient funds fees, and monthly maintenance fees upon request for banking and small business customers
- Defer payments and issue refunds on late fees upon request for banking and small business customers
- Defer payments and issue refunds on late fees for small business loans upon request
- Defer payments, with payments added to the end of the loan, for auto loans upon request
- Defer payments, with payments added to the end of the loan, for mortgages and home equity lines of credit owned by Bank of America upon request
- The bank will suspend foreclosure sales, evictions, and repossessions
- Will identify and assist affected clients and provide the right support to address their unique personal needs.
For more information, please contact:
- Bank of America auto customer care: 1-844-892-6002
- Bank of America checking and savings customer care: 1-800-432-1000
- Bank of America credit card customer care: 1800-732-9194
- Bank of America mortgage customer care: 1-800-669-6607
Here’s Bank of America’s coronavirus help page.
BBVA USA
BBVA is offering the following:
- Loan, line of credit and credit card payment deferrals or extensions
- Waive and refund ATM fees charged by other banks/ATM networks to use their ATMs
- Penalty-free CD withdrawals for CDs opened prior to March 1, 2020, available upon request
For more information and updates, visit BBVA’s coronavirus help page.
For more information, contact:
- BBVA customer care: 1-844-222-3862
Capital One
The bank is offering the following:
- Financial relief options, including fee suppression, providing minimum payment assistance and offering deferred loan payments, available upon request
For more information, customers should contact:
- Capital One credit cards customer care: 1-800-CAPITAL (1-800-227-4825)
- Capital One bank customer care: 1-800-655-BANK (2265)
- Capital One 360 customer care: 1-888-464-0727
- Capital One personal loans customer care: 1-800-926-1000
- Capital One auto customer care: 1-800-946-0332
For more information and updates, visit Capital One’s Coronavirus help page.
Chase Bank
The bank encourages people who are affected by COVID-19 and need help with their accounts to call the number on the back of their credit or debit card, or on the back of their monthly statement.
This page provides small business owners with information on contingency planning and links to the Small Business Administration’s Economic Injury Disaster Loan program, as well as a business resilience checklist.
For more information, customers should contact:
- Chase personal credit cards customer care: 1-800-432-3117
- Chase banking customer care: 1-800-935-9935
- Chase auto customer care: 1-800-336-6675
- Chase mortgage assistance: 1-800-848-9380
Here is Chase’s coronavirus help page.
Citibank
Citibank offers its customers the following:
- Waivers on monthly service fees, for both regular and small business customers
- Waived penalties for early CD withdrawal, for both regular and small business customers
- Fee waivers on remote deposit capture for small business customers
- For small business customers, bankers available after hours and on weekends
- Some credit card customers may be eligible for credit line increases and collection forbearance programs.
Citibank’s contact information:
- Citi banking customer care: 1-800-374-9700
- Citi personal loans customer care: 1-800-685-0935
- Citi credit card customer care: 1-800-950-5114
- Cenlar FSB mortgage assistance: 1-800-2CENLAR (1-800-223-6527)
Please visit Citibank’s coronavirus help page for more information and updates.
Discover
- Proactive consumer messaging actively supporting customers impacted by COVID-19 and linking to help on its website
- Assisting consumers affected by the coronavirus with payment, fee, or interest relief on various loan products and deposit accounts.
- Encouraging customers to use digital banking tools to manage their accounts.
Contact:
- U.S.-based Customer Service team: 800-347-7000 (TTY/TDD 800-347-7454)
Discover’s coronavirus help page.
Fifth Third Bank
The bank offers:
- Vehicle payment deferral program: offering payment deferral for up to 90 days and no late fees during the deferral period
- Credit card deferral program: offering payment deferral for up to three payments and no late fees during the deferral period
- Payment forbearance with no late fees for 90 days on mortgages and home equity lines of credit
- Small business payment deferral program: offering a payment deferral program for up to 90 days, no late fees and a range of loan modification options
- Waive all fees on Fifth Third Fast Capital loans for six months
- Waive fees for up to 90 days for a range of consumer and small business deposit products and services
- Suspend any new repossession actions on vehicles for the next 60 days
- Suspend all foreclosure activity on homes for the next 60 days
For more information, customers should call at 1-866-601-6391 or visit Fifth Third Bank’s coronavirus help page.
Goldman Sachs
Goldman offers the following:
- Waive payment for March without interest for Apple credit card users who enroll in Apple’s customer assistance program
- Allow delayed payments without fees for Marcus customers for a month
For more information, please contact:
- Marcus savings customer care: 1-855-730-SAVE (1-855-730-7283)
- Marcus lending customer care: 1-844-MARCUS1 (1-844-627-2871)
Marcus by Goldman Sachs’ coronavirus help page.
PNC Bank
PNC will do the following:
- Waive or refund fees associated with deposit accounts or lending products, including credit cards and mortgages
- Assistance programs for customers with consumer or business loans, credit cards or mortgages
- Emergency hardship loans at a “low rate” for qualified consumer customers and employees
For more information, customers should contact PNC customer care by calling at 1-888-762-2265 or visit PNC’s coronavirus help page.
Huntington Bank
Huntington Bank offers:
- Consumer payment deferral program: will offer a payment deferral for up to 90 days with no credit bureau impact
- Small business payment deferral program: will offer a payment deferral for up to 90 days with no credit bureau impact
- Working to offer economic injury disaster loans for small businesses - Waive late fees on consumer loan payments through at least the end of March 2020
- Waive late fees on business loan payments through at least the end of March 2020
- Suspend any new repossession actions associated with vehicles, RVs or marine craft financed by Huntington through at least the end of March 2020
- Enact reduced requirements for customers who want to redeem their already repossessed vehicle to one payment plus repossession fee
- Suspend any new foreclosure actions, specific to residential properties unless required by federal or government agencies through at least the end of March 2020
Contacts:
- Huntington homeowner payment help: 1-800-323-9865
- Huntington auto loan payment assistance: 1-800-445-8460
- Huntington credit card payment assistance: 1-800-372-7725
Huntington’s coronavirus help page.
KeyBank
KeyBank offers the following:
- Allow existing customers to defer payments for 90 days on mortgages and home equity lines of credit upon request
- Allow existing customers to defer payments for 90 days on student loans upon request
- Allow existing customers to defer payments for 90 days on auto loans upon request
- Allow existing customers to defer payments for 90 days on credit cards and lines of credit upon request
- Allow small business loan customers to defer loan payments for 90 days upon request
- Waive late or overdraft fees
- Waive penalties for early CD withdrawals
- Suspend repossessions of vehicles unless required by a federal or government agency
- Suspend residential property foreclosures unless required by a federal or government agency
For more information, customers should contact:
- KeyBank customer care: 1-800-KEY2YOU (539-2968)
- KeyBank small business customer care: 1-888-KEY4BIZ (539-4249)
KeyBank’s coronavirus help page.
Santander Bank
Santander offers the following:
- Temporarily suspend payments, as well as refund late payment and overdraft fees for bank customers
- Stop collections calls
- Suspend the mortgage and home equity line of credit foreclosures
- Waive early withdrawal penalties on CDs and waive outgoing wire fees for consumers
- Increase ATM cash withdrawal amounts available
- Offer extensions and payment deferral accommodations for existing small businesses clients
- Offer credit card limit increases
- Expand payment deferrals, waive late charges and issue lease extensions for lessees unable to return their vehicles for existing auto loan customers
- Defer first payment for 90 days for new customers financing their auto loans through Chrysler Capital and offer a 0% APR for 84 months on select 2019 and 2020 models available
For more information, call at:
- Santander Bank customer care: 1- 844-728-0999
- Santander business banking customer care: 1-877-768-2265
Santander’s coronavirus help page.
TD Bank
The bank offers the following:
- Financial relief options upon request, including fee refunds, early penalty-free access to CDs and payment extensions
For more information, you can call at 1-888-751-9000 or visit TD Bank’s coronavirus help pace.
Truist
Truist offers a number of relief measures:
- Payment relief assistance for clients on consumer loans, personal credit cards, business credit cards, and business loans
- Temporarily waive ATM surcharge fees
- 5% cashback for qualifying purchases at grocery stores and pharmacies through April 15, 2020
For more information, customers should contact:
- Heritage BB&T clients, please contact 800-226-5228
- Heritage SunTrust clients, please contact 877-820-2103
Truist’s coronavirus help page.
U.S. Bank
The bank offers:
- Retroactively waive credit card fees
- Work to enhance skip-a-pay and payment deferral programs
- Continue to offer regularly available services, including rush replacement of a credit or debit card, increased credit limits and fee waivers for those experiencing hardship
U.S. Bank reduced the cost of the following loans:
- Simple Loan fees reduced to $6 per $100 borrowed (down from $12 with autopay)
- Personal Loan reduced APR of 2.99% for amounts between $1,000 and $4,999 for up to 48 months
For more information, please contact:
- U.S. Bank dedicated customer care: 1-888-287-7817
- U.S. Bank’s coronavirus help page.
Wells Fargo
Wells Fargo offers the following:
- Fee waivers, payment deferrals and other expanded assistance for a credit card, auto, mortgage, small business and personal lending customers who contact Wells Fargo directly
- Suspend residential property foreclosure sales, evictions and involuntary auto repossessions
- To assist homeowners, the bang is granting immediate three-month payment suspensions to mortgage customers.
For more information, customers should contact:
- Wells Fargo customer care: 1-800-219-9739
- Wells Fargo’s coronavirus help page.
Please note:
The above information is a compilation from various sources and is being updated regularly. We will continue to update it as we gather additional information. We encourage you to discuss the specifics of the deferment offered by each financial institution and obtain it in writing before making a decision.
* The accuracy of the information contained herein is not guaranteed.
