OPEN finance expert Mike Periu on banks, such as Wells Fargo, Citibank, and Bank of America, waiving fees to help those affected by Sandy.
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Most large banks have announced that they are temporarily waiving fees to customers that have been affected by Hurricane Sandy. The fees being waived include: out-of-network ATM surcharges, overdraft fees, late payment fees, and early withdrawal penalties on certificates of deposit. Some banks are automatically extending these benefits while others require that customers contact them in order to request the fee waived.
More banks waive fees for Sandy
By Claes Bell · Bankrate.com
In the wake of a disaster such as superstorm Sandy, much of the attention is focused on the widespread damage to physical property. But natural disasters also ravage family finances, in part by making it difficult to keep up with day-to-day financial chores such as paying bills and avoiding checking account fees.
Some banks are trying to help ease this burden by waiving some bank fees. As my colleague David McMillin noted yesterday, JPMorgan Chase & Co. announced it will suspend overdraft fees until Thursday in areas affected by the storm.
Now, other banks are following suit. Wells Fargo has announced it will waive out-of-network ATM fees and late payment fees for customers impacted by Sandy, according to a report by The Huffington Post.
Bank of America and TD Bank also will waive out-of-network ATM fees and late fees for customers in affected areas as long as they contact customer service to request a waiver. Citibank also will waive out-of-network ATM fees for some customers, according to the report.
Have you received any notices from your bank regarding the storm?
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