Tens of thousands of Americans are facing unemployment as the coronavirus pandemic continues to affect daily life for cities and towns across the U.S.
Being without a job or facing reduced hours at work can make it difficult to pay your bills, including credit card, loan and mortgage payments. But the good news is that many banks and financial companies have announced they are willing to work with customers impacted by the coronavirus though a number of programs, including fee waivers and payment deferrals.
Effective Wednesday, March 18, Ally is offering the following financial support initiatives:
- Will defer payment for existing auto customers for up to 120 days without incurring late fees or finance charges
- Will give new auto customers the option to delay first payment for 90 days
- Will defer payment for existing mortgage customers for up to 120 days without incurring late fees or finance charges
- 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 the following:
- 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
Bank of America
Effective Thursday, March 19, Bank of America announced it would do the following for customers with no negative credit bureau reporting for up-to-date clients:
- Will refund overdraft fees, non-sufficient funds fees and monthly maintenance fees upon request for banking and small business customers
- Will defer payments and issue refunds on late fees upon request for banking and small business customers
- Will defer payments and issue refunds on late fees for small business loans upon request
- Will defer payments, with payments added to the end of the loan, for auto loans upon request
- Will defer payments, with payments added to the end of the loan, for mortgages and home equity lines of credit upon request
- Will pause foreclosure sales, evictions and repossessions
For more information, customers should contact the following:
- 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
BBVA
Effective through April 17, 2020, BBVA is initiating the following:
- Will offer loan, line of credit and credit card payment deferrals or extensions
- Will waive and refund ATM fees charged by other banks/ATM networks to use their ATMs
- Will offer penalty-free CD withdrawals for CDs opened prior to March 1, 2020 upon request
For more information, customers should contact the following:
- BBVA customer care: 1-844-222-3862
Capital One
In an email to CNBC Make It, the bank said it would offer the following:
- Will offer financial relief options upon request, including fee suppression, minimum payment assistance and deferred loan payments
For more information, customers should contact the following:
- 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
JPMorgan Chase
The bank has said it will offer additional assistance to those affected by coronavirus. Chase did not immediately respond to CNBC Make It’s request for specific programs it would be offering.
For more information, customers should contact the following:
- 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
Citi
Effective Monday, March 9, Citi will do the following for an initial 30 days:
- Will waive fees on monthly services and penalties for early CD withdrawal for banking customers
- WIll waive monthly service fees, remote deposit capture charges and penalties for early CD withdrawal for small business customers
- Offer credit line increases and collection forbearance programs for credit card customers
- Offer a range of hardship programs through their service provider, Cenlar FSB, for eligible mortgage customers
To activate these and other forms of relief, customers should contact the following:
- 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)
Fifth Third Bank
Ohio-based Fifth Third Bank is offering the following programs and initiatives:
- 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
- Will waive all fees on Fifth Third Fast Capital loans for six months
- Will waive fees for up to 90 days for a range of consumer and small business deposit products and services
- Will suspend any new repossession actions on vehicles for the next 60 days
- Will suspend all foreclosure activity on homes for the next 60 days
For more information, customers should contact the following:
- Fifth Third hardship line: 1-866-601-6391
Goldman Sachs
In an email to cardmembers on March 15, Goldman said it will offer the following:
- Will waive payment for March without interest for Apple credit card users who enroll in Apple’s customer assistance program
- Will allow delayed payments without fees for Marcus customers for a month
For more information, customers should contact the following:
- Marcus savings customer care: 1-855-730-SAVE (1-855-730-7283)
- Marcus lending customer care: 1-844-MARCUS1 (1-844-627-2871)
Huntington Bank
Effective Tuesday, March 17, Huntington Bank will offer the following programs:
- 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
- Will waive late fees on consumer loan payments through at least the end of March 2020
- Will waive late fees on business loan payments through at least the end of March 2020
- Will suspend any new repossession actions associated with vehicles, RVs or marine craft financed by Huntington through at least the end of March 2020
- Will enact reduced requirements for customers who want to redeem their already repossessed vehicle to one payment plus repossession fee
- Will suspend any new foreclosure actions, specific to residential properties, unless required by federal or government agencies through at least the end of March 2020
For more information, customers should contact the following:
- 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
PNC
In an email to CNBC Make It, the bank said it would offer the following:
- Will waive or refund fees associated with deposit accounts or lending products, including credit cards and mortgages
- Will offer assistance programs for customers with consumer or business loans, credit cards or mortgages
- Will offer emergency hardship loans at a “low rate” for qualified consumer customers and employees
For more information, customers should contact the following:
- PNC customer care: 1-888-762-2265
TD Bank
In an email to CNBC Make It, the bank said it would offer the following:
- Will offer financial relief options upon request, including fee refunds, early penalty-free access to CDs and payment extensions
For more information, customers should contact the following:
- TD Bank customer care: 1-888-751-9000
Truist (formerly SunTrust and BB&T banks)
Truist instituted a number of relief measures:
- Offers payment relief assistance for clients on consumer loans, personal credit cards, business credit cards and business loans
- Will temporarily waive ATM surcharge fees
- Will offer 5% cash back for qualifying purchases at grocery stores and pharmacies through April 15, 2020
For more information, customers should contact the following:
- Heritage BB&T clients, please contact 800-226-5228.
- Heritage SunTrust clients, please contact 877-820-2103
U.S. Bank
In an email to CNBC Make It, the bank said it would offer the following:
- Will retroactively waive credit card fees
- Will work to enhance skip-a-pay and payment deferral programs
- Will 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
Effective Friday, March 13, 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, customers should contact the following:
- U.S. Bank dedicated customer care: 1-888-287-7817
Wells Fargo
In an email to CNBC Make It, the bank said it would offer the following:
- Will offer fee waivers, payment deferrals and other expanded assistance for credit card, auto, mortgage, small business and personal lending customers who contact Wells Fargo directly
For more information, customers should contact the following:
- Wells Fargo customer care: 1-800-219-9739