As millions of Americans on the East Coast awoke Tuesday to extensive power outages, flooding, mass transit shutdowns and road closures, banks in the storm's path announced they will waive late-payment and ATM fees for customers who were affected.
JP Morgan Chase -- the biggest bank in the U.S. -- closed its retail branches in New York, New Jersey and Connecticut on Tuesday, according to the New York Times.
The bank emailed customers Sunday night announcing that the following fees would be waived until November 1 for customers impacted by the storm:
-- Overdraft Protection Transfer, 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.
Chase also said that customers would have "until the end of business on Thursday to make a deposit or a payment to bring your account current and avoid the fees," according to an email sent to customers.
Have you received any updates from your bank about the storm? Please let us know via email: email@example.com
Citibank is closing branches in "flood-prone areas of New York City" and will drop out-of-network ATM surcharges for customers, the Wall Street Journal reports.
Wells Fargo closed most of its branches in Maryland, Virginia, Washington, D.C., Delaware, Pennsylvania, New York, New Jersey and Connecticut, Ruben Pulido, a bank spokesperson, told the Jacksonville Business Journal on Tuesday. The bank is offering relief from late fees from October 29 through November 7 and waiving out-of-network ATM fees for customers in affected areas, according to CNBC.
Bank of America -- which closed all of its branches in the New York area on Monday, according to the Charlotte Business Journal -- originally announced that customers who incurred late fees because of the storm should contact the bank to have these fees dropped. On November 1, the bank emailed customers to say that they would automatically refund many fees incurred for customers between October 29 and November 5 in affected areas.
In a statement made Monday, TD Bank announced that customers should not risk their safety to make a deposit to avoid a late-payment fee. TD Bank customers must request to have late-payment and out-of-network ATM fees waived.
Capital One originally said they would consider excusing certain late fees "on a case-by-case basis," according to Time. According to an email the bank sent the Huffington Post on November 6, the bank is waiving certain fees for customers in the hardest hit areas through November 5.
An email sent to PNC bank customers early Tuesday said they would be "proactively waiving" overdraft fees through Wednesday, October 31 for customers located in the Carolinas, Maryland, Washington DC, Virginia, Delaware, New Jersey, Eastern and Central Pennsylvania, and New York City. Customers who overdraw their accounts during the storm and its aftermath should make a deposit to cover the shortfall by end of day Thursday to avoid fees.
Barclays is waiving late fees October 29 through November 1, CNBC reported.
UPDATE: October 31, 8:30 a.m. -- Chase emailed its customers late Tuesday night extending its waivers through November 1. This story has been updated to reflect that change.
UPDATE: November 1, 9:10 a.m. -- Wells Fargo emailed its customers early Thursday morning extending its waivers through November 3. This story has been updated to reflect that change.
UPDATE: November 2, 10:55 a.m. -- On November 1, Bank Of America emailed customers to say that they would automatically refund many fees incurred for customers between October 29 and November 5 in affected areas. This story has been updated to reflect that change.
UPDATE: November 3, 10:17 a.m. -- Wells Fargo emailed its customers Friday morning extending its waivers through November 7. This story has been updated to reflect that change.
UPDATE: November 6, 2:38 p.m. -- Capital One emailed its the Huffington Post Tuesday morning clarifying that the bank is waiving certain fees for customers in the hardest hit areas through November 5.