Anticipating a storm-related cash crunch and bill-paying delays, Chase and Citibank announced on Sunday that they would waive overdraft, ATM, and/or late fees for customers in New York, New Jersey, and Connecticut who will get hit by historic Hurricane Sandy over the next 72 hours.
JP Morgan Chase — the nation’s largest bank — sent an e-mail to customers Sunday night informing them that all overdraft fees and late fees on credit cards and business and consumer loans would be waived through Wednesday, Oct. 31. Customers have until the end of business Thursday to make sure their accounts and balances are up-to-date to avoid a fee.
Similarly, Citibank announced that fees would be waived for New York City residents who use another bank’s ATM, according to The Wall Street Journal. As of Sunday evening Bank of America had not announced any specific move that would eliminate fees for any of the estimated 50 million people in the path of Hurricane Sandy, which was expected to make landfall along the mid-Atlantic region Monday evening.
That’s good news for customers who would have to make deposits and payments at their local branches, many of which will be closed across the Northeast.Share on Facebook