MyBankTracker lists which banks are deferring payments, waiving fees and moreFoster City, CA – April 7, 2020 – The current health pandemic has changed the way of life for millions of Americans and threw a monkey wrench into their financial well-being. Currently, reports indicate nearly 10 million in the U.S. have filed unemployment claims after losing their job due to the coronavirus crisis.
Personal finance website MyBankTracker.com finds that 10 big banks are adapting to the pressing financial situations that are rapidly arising. Many across the country are offering various forms of assistance and encouraging customers to contact them directly to construct a plan for each unique situation.
Example assistance provided by banks:
- Suspended account fees: Ally Bank is waiving fees for overdrafts or excessive transactions
- Mortgage, equity and auto loans: Bank of America is allowing clients to defer payments
- ATM fees: Truist is temporarily waiving ATM surcharge fees for both consumer and business accounts
- Monthly service fees: Citibank is waiving monthly service fees for retail banking customers and small businesses
- Foreclosures, evictions and repossessions: Wells Fargo is suspending residential property foreclosure sales, evictions and involuntary automobile repossessions
Smaller financial institutions are also offering assistance. MyBankTracker.com suggests consumers contact their bank or provider directly. To further assist Americans, the site created a coronavirus guide to answer other financial questions Americans may have during the pandemic. It includes information on how to collect the stimulus relief checks and numerous other topics.
The article’s author, Simon Zhen, is available for comment and can offer insight to consumers on how to understand and maneuver their financial situations during this trying time. Zhen is a research analyst and spokesperson for MyBankTracker.com with more than 10 years of experience in the financial industry. He is an expert on consumer banking products, credit cards, bank innovations and financial technology.
To read the full article and an overview of the other assistance America’s 10 big banks are offering, visit Banks Offer Assistance to Customers Affected by Coronavirus.
MyBankTracker.com is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. QuinStreet is committed to providing consumers and businesses with the information and tools they need to research, find and select the products and brands that meet their needs. MyBankTracker.com is a member of the company’s expert research and publishing division.
MyBankTracker.com is an independent comparison website helping consumers make smart banking and financial decisions. The mission is to match consumers to their perfect bank by providing and tracking in-depth information on more than 5,000 banks, credit unions and financial products. Using a combination of technology and money management expertise, MBT provides personal finance comparison tools and educates consumers to optimize their relationships with banks and lenders.
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