Banks Offer Relief To Small Businesses Affected by COVID-19
US Bank
If you've been financially impacted by COVID-19, you're not alone.
The employee Premium Pay Program and community financial support build upon efforts previously announced by U.S. Bank to support consumer and business customers affected by COVID-19. This includes temporary adjustments to several lending products and services, which make them more affordable and accessible to existing customer who may be financial impacted, along with relief and forbearance programs for those who qualify.
- For consumer customers, this includes U.S. Bank’s installment loan, Simple Loan and Personal Loan products.
- For business customers, this includes business products like Quick Loan and Cash Flow Manager.
-Quick Loans are traditional fixed rate loans up to $250,000 and can be used for general working capital, equipment or purchasing new and used vehicles. They offer a simplified application process and faster decisions than traditional bank loans (term loans).
-When considering a business line of credit, U.S. Bank has three options you can consider: a Cash Flow Manager Line of Credit, a Business Equity Line of Credit or a Business Line of Credit.
U.S. Bank will continue to re-evaluate these and other measures as the situation evolves. Additional information on how U.S. Bank is responding to COVID-19 is available at usbank.com/covid-19. The site helps customers stay up to date on our response and provides details on the products and customer assistance programs that may be available to them.
CITI
As we navigate this unprecedented time, the well-being of our customers, colleagues and communities are our top priority. We are committed to helping provide the support and solutions you may need as developments unfold. We are here for you, today and in the months ahead, and will continue to do what we can to help meet your banking needs.
If you've been impacted by COVID-19, you may be eligible, upon request, for the assistance below:
We are extending fee waivers on monthly service fees and remote deposit capture fees, as well as penalty waivers for early Certificate of Deposit withdrawals for an additional thirty days, to May 8, 2020. For help, please call the number on the back of your debit card or recent bank statement.
BMO Harris
If you’re impacted, we may be able to help you through your financial hardship and have a variety of flexible financial relief programs and fee waivers in place for our personal and small business banking customers.
We know that these are trying times for our business customers. Your financial security now and in the future is a top priority for us. We have instituted these flexible relief measures:
- For payment relief on business loans and credit cards, please fill out our online form and a BMO representative will call you within 3 - 4 business days to discuss how we can help.
- We have increased the limit on mobile check deposits for business customers in any 5 business-day period from $10,000 to $20,000.
For those who qualify, BMO's hardship program for consumer and small business customers may include payment deferrals on credit cards, mortgages, home equity, auto, personal and small business loans for up to three months; fee waivers for checking and savings accounts for up to two months; and removing penalties associated with early CD withdrawal.
The bank has paused foreclosure and repossession actions for consumers with COVID-19 related circumstances. This pause also applies to loans secured by real estate made by BMO's small business team. Customers who are taking advantage of relief options offered by the bank for loans and credit cards will not have their credit negatively reported as a result.
Fifth Third Bank
As COVID-19 impacts our communities, it won't impact our commitment to serve you. You can always bank with us anytime, anywhere online or through our mobile app. And if you're experiencing account hardship due to coronavirus, we can help.
At Fifth Third, we’re proud to support the implementation of the CARES Act, which offers a range of benefits, including direct payments, mortgage and student loan relief and improved lending programs for businesses.
Request Hardship Assistance:
- Business Banking Fee Waiver Program: We will refund select fees for 90 days for Business Banking deposit accounts and services. Please contact 877-534-2264 or your banker for details.
- Business Banking Payment Deferral Program: We are offering a payment deferral program for up to 90 days, no late fees and a range of loan modification options.
You can also request hardship assistance by logging into online banking and sending a secure communication through the Messages center with “COVID-19” in the subject line. Fifth Third thanks you for your patience as we navigate this situation together.
HSBC
COVID-19 - we're here to support you. If you’ve been impacted by coronavirus, we have programs in place across many of our accounts to help during this unprecedented situation, including:
- For business deposit accounts, we’re offering fee waivers to cover ATM, overdraft or unavailable funds, and monthly maintenance fees.
- For business credit cards, lines of credit and term loans, we can defer or reduce your payments during the hardship, and waive late fees.
- For Business customers you may be eligible for a Paycheck Protection Program (PPP) loan under the newly passed Coronavirus Aid, Relief and Economic Security (CARES) Act.
If you’re impacted, please reach out to us to understand your options and take advantage of these programs. We have product specialist teams who can help.
For relief help with your business banking, please contact your relationship manager or call 833.722.4722, Monday - Friday: 8am–9pm ET and Saturday: 8am - 4:30pm ET.
In addition to these programs for our customers, HSBC will be directing $25 million in funding globally to those most impacted by this crisis. In the US, we will use funding to address the hunger crisis through our long-term partnership with Feeding America. Experts are estimating that as many as 40 million Americans will suddenly experience hunger issues, with 11 million of those being children and 5.5 million being seniors.
Old Point National Bank
Old Point National Bank has rolled out numerous measures to offer assistance to their consumer and business clients impacted by the Coronavirus pandemic. Initiatives include emergency lending programs, payment relief, adjusted branch services, improved digital access, employee support, and community support.
To support customers facing financial hardship due to the pandemic, effective immediately, Old Point is ready to provide several options, including:
- Increased daily Old Point debit card spending limits
- Waived penalties for early CD withdrawals
- Payment deferrals for mortgages, home equity loans, personal loans, auto loans, and credit card.
- Up to 90 day interest only terms for emergency business funding
- Expedited SBA application process for qualified businesses impacted directly or indirectly by the pandemic, including vendors or other external business partners
- Quick-funded small business loans powered by StreetShares, a veteran-owned small business loan partner. Through this relationship, clients can apply for business loans from $2,000 to $250,000 online and receive funding in as little as 24 hours after credit approval.
Customers in need of assistance should contact their relationship manager or call Old Point’s Customer Service Center at 757-728-1290 to discuss their individual circumstances and the potential solutions available to them. All programs are subject to bank approval, are effective immediately, and will continue as needed.
PNC
PNC understands the significant impact that the coronavirus pandemic is having on many of our consumer, small business and corporate and institutional bank customers. We continue to work with those impacted, providing a variety of solutions that make the most sense for meeting their particular needs.
- Loans, Lines of Credit & Credit Card Assistance
If you are unable to make your payment, we may have options to help you navigate this unprecedented time. If you are concerned about making business loan or credit card payments, we have a variety of programs available to assist you. Solutions may include the ability to postpone payments for a period of time. For Small Business Lending Products, we are providing a range of modification options with no late fee.
- Deposit Account Assistance
PNC is prepared to assist those directly impacted clients by waiving or refunding certain fees associated with deposit accounts such as monthly service charges and overdraft fees.
- PNC Merchant Services® Assistance
We are leveraging all of the resources of PNC Merchant Services to support our clients through this challenging period.
To begin, we are proactively waiving select, recurring Merchant Services monthly account and service fee for current customers for March and April, 2020, to help offset the impact that the coronavirus may be having on your business. This includes the following monthly fees: Clover® Software, Payeezy GatewaySM, Monthly Service Fee and Monthly Minimum Processing Fee.
We are also extending the time period to qualify for the Q1 2020 $500 reward from three billing cycles to four billing cycles. To the extent you qualify for the reward, it will appear as a credit on your merchant statement in your fourth or fifth billing cycle, depending on when you reach $10,000 in transactions.
We appreciate your business and hope that our small business customers who require assistance during this difficult time will contact us so that we can determine how best to help. We’ve launched a form to make it easier to communicate with us, where you can describe your hardship and have it routed to the right team member to review.
Know you can reach us 24 hours a day, 7 days a week at 1-800-742-5030. We stand ready to offer assistance and support.
TD Bank
As the COVID-19 situation continues to evolve, we remain committed to the health and well-being of our Customers and Colleagues. With that in mind, most of our stores have moved to a drive-thru-only model.
We want to help you get through this difficult time in any way we can. Customers who have been impacted by COVID-19 can request financial relief through our TD Cares program.
We're committed to helping our Customers through our TD Cares program. COVID-19-related relief options for our Small Business and Commercial Customers may include:
- Refunds on monthly maintenance fees for business deposit accounts
- Deferment of payment on loans and lines of credit
- Refunds on transaction fees such as overdraft and non-TD ATM fees
- Waivers of monthly maintenance fees and PCI fees for Merchant Solutions Customers
- Early access to business certificates of deposit with no early withdrawal penalties
Existing Small Business Customers: If you'd like to request assistance on your loan deferment, please submit your request using the link below. For assistance with your deposit accounts, please contact your Small Business specialist or call 1-888-751-9000.
Webster Bank
Webster Bank announced support for consumers and businesses facing financial hardship due to the economic impact of COVID-19, as well as additional funding for local community organizations.
To support Webster customers affected by the pandemic, effective immediately our bankers are ready to provide several flexible service options to alleviate financial pressures, including:
- Increased, individualized daily Webster debit card spending limits
- Waived penalties for early CD withdrawals up to $25,000
- Increased, individualized remote deposit limits
- Options for payment deferrals on mortgages, home equity or personal loans, and small business loans, based on need
- Expedited SBA application process for qualified businesses impacted directly or indirectly by the pandemic, including vendors or other external business partners
In addition, Webster is placing a 90-day foreclosure moratorium on Webster residential loans.
Our bankers are our strongest asset, and we are taking steps to keep them safe so they can continue to deliver exceptional service for our customers. All Webster customers are encouraged to bank remotely by using convenient and secure online banking and the mobile app. The Customer Care Center is available 24 hours a day, 7 days a week by calling 800-325-2424.
CIT
Unsettling times call for agile thinking, and we aim to do our part to help navigate the challenges associated with the COVID-19 pandemic.
If you are an existing customer and have been affected by COVID-19 and need assistance, please contact us to discuss options to more easily access your funds such as waiving fees for ATMs, overdrafts and early withdrawals on CDs
.
For its existing business clients, CIT is accepting applications for the U.S. government’s Paycheck Protection Program (PPP).
CIT has committed $1 million in support of communities affected by COVID-19. These resources will provide some immediate relief to New York City and L.A. County, the respective headquarters for the company and its bank subsidiary.
Consumers Credit Union
Over the past few weeks, the growing concern of the Coronavirus (COVID-19) has all of our attention. With the ongoing disruptions due to COVID-19, you may have concerns about your budget and cash flow. Being a for-people, not profits credit union, we are committed to do everything we can to assist our Members.
We are offering Members the opportunity to skip their next monthly qualified loan payment AT NO CHARGE at a time when it helps to have more cash in your budget.
To skip a qualified CCU loan payment(s), please log in to your online banking account and follow the prompts to apply.
Unfortunately, CCU is not able to participate in the additional SBA funding programs made available with the CARES Act. To get details on these programs as well as find an approved participating local lender please go to sba.gov.
Additional Resource: Specific to the state of Illinois, small businesses can get up to $50,000 loans from the Illinois Small Business Emergency Loan Fund. Those interested must go through IL Department of Commerce & Economic Opportunity (DCEO) and Accion.
JPMorgan Chase & Co
We’ve always been committed to helping support the diverse financial needs of our corporate and institutional clients, as well as our small business customers. Throughout history, we’ve been there to provide loans, capital and liquidity — in good times and bad.
For many small businesses, cash flow and access to capital are vital to their short- and long-term success. JPMorgan Chase Institute research shows that 50 percent of small businesses have less than 15 cash buffer days, meaning the small business economy could be significantly disrupted by the current climate.
We’re deploying millions of dollars to support vulnerable and underserved small businesses in the U.S. and around the world through our community partners.
We’re working directly with many of our small business clients affected by COVID-19 to modify loans, defer payments and waive fees. Prudently extending credit to businesses of all sizes.
We’re helping to implement the SBA’s program designed to provide small businesses access to capital for payroll and other overhead costs.
Bank Of America
In response to the extraordinary challenges of the coronavirus, Bank of America is offering additional support to our consumer and small business clients through our Client Assistance Program.
We stand ready to support you. For those who need help making credit card, vehicle and/or home loan payments, you can submit an online request for a payment deferral.
To apply for the Paycheck Protection Program, small business clients can sign into Online Banking and commercial banking clients can sign into CashPro®.
It also may be helpful to gather the following business documents:
- 2019 Payroll – total payroll for full year 2019, by employee, as reported to the IRS
- 2019 Independent Contractor Costs – listing of 1099s-MISC for 2019 independent contractors, by person, as reported to the IRS. (Note: Do NOT include 1099s for services.)
- Payroll report – as of February 15, 2020, or closest date after that date, by employee
- Other information – required by the application is available at the U.S. Treasury website
For those clients facing financial hardship, additional assistance is available through our Client Assistance Program. A fast and easy way to submit a payment deferral request is to sign into Online Banking, our virtual financial assistant in our Mobile Banking app. We’ll get started on your request right away and get back to you soon.
We provide banking solutions to help you manage your finances wherever most convenient for you. You can deposit checks without visiting a financial center through Mobile Check Deposit and Remote Deposit Online. And you can use Zelle®, a fast, safe and easy way for your business to send, request and receive money.
Wells Fargo
Wells Fargo is working as quickly as possible to assist small business customers with the Paycheck Protection Program (PPP). We have mobilized hundreds of Wells Fargo employees and launched new automation and technology to enable us to process more applications at a faster rate.
You may have heard that the U.S. Small Business Administration (SBA) has run out of money to fund PPP loans, and we realize this may be causing you frustration and concern. Given the magnitude of the crisis the country is facing, we are hopeful that Congress will approve additional funds for the PPP. In anticipation of additional approved funds, Wells Fargo continues to take and prepare customers’ PPP loan applications for submission to the SBA.
You can apply for a Small Business Administration PPP loan by logging onto Wells Fargo Business Online® or Commercial Electronic Office® (CEO®) and clicking on “Get Access to the Paycheck Protection Program – Learn More.” After you complete your application, we will keep you updated regularly by email.
Keep in mind that there is a lot of interest and demand for this program and there are limited funds available from the SBA Paycheck Protection Program. We encourage you to apply as soon as possible.
Truist
Due to enormous interest in the Paycheck Protection Program (PPP) and the unprecedented volume of applications we’ve received, we’re no longer accepting new PPP applications. We will continue to closely monitor potential developments for the PPP program and provide email updates to all who have applied for a loan or registered on our website.
We’ll continue to closely monitor potential developments for the PPP and provide email updates to all who have registered on our website.
We also encourage you to explore other lending options, including at BB&T and SunTrust, now Truist, or directly through your banker. Although not specifically related to your business, there are also a number of relief efforts we are offering all of our clients.
Payment relief is available for auto loans, home equity loans, consumer loans, mortgages, and personal credit cards.
How to request relief:
- Step 1: Gather account information: You’ll need your social security number, ZIP code and account number.
- Step 2: Submit your request. Our online request form is the fastest way to request payment relief—it shouldn’t take you more than 10 minutes.
- Step 3: Email notification. Once we’ve received your request, we’ll send you an email update with next steps.
Extra support for your new normal
- Waiving ATM surcharge fees: Through April 30, 2020, ATM surcharge fees are being waived to help consumers and businesses access cash with greater confidence.
- Cashback at grocery stores and pharmacies: Receive 5% cashback when you use your BB&T, now Truist or SunTrust, now Truist consumer credit card for qualifying purchases at grocery stores and pharmacies through April 30, 2020.*
At Truist, we’re committed to helping our clients weather this storm.
American Express
We realize the current environment stemming from COVID-19 may be creating a number of challenges for your business. We are continually publishing new tips, guides, and other content in response to some of the most pressing questions and concerns we’ve heard from business owners. Visit Business Trends & Insights for the latest.
The American Express® Business App gives you control over your business and its expenses from virtually anywhere, so you can have peace of mind. If you don’t have it downloaded, it’s easy to get started:
- Download the Amex® Business App from your app store or text AMEXBUSINESS to 86509 to receive a download link*
- Log in using your American Express username and password or create an online account
- Once you’re logged in, you can view transactions, manage employee Cards, create digital expense reports, capture receipts, and much more.
American Express Financial Relief Program. Together we may be able to:
- Lower your monthly payment
- Provide relief from late payment fees
- Temporarily lower your interest rate
- Prevent your account(s) from going past due or further past due if you abide by the terms and conditions of the program
Give us a call, we're available:
Monday through Friday from 8:00am to 12:00am ET
Saturday from 8:00am to 11:00pm ET
Sunday from 9:00am to 11:00pm ET
Contact us at 1-866-703-4169
RBC Bank
RBC is offering a number of relief solutions for business clients affected by COVID-19. We are assessing the needs of businesses on a case-by-case basis to provide relief solutions that are tailored to their circumstances. Relief support may include:
- Business loan payment deferrals
- Increases to operating line of credit limits
- Request a deferral of your minimum payment obligations on your credit cards
- Credit Card Interest Relief: Effective April 6, 2020, RBC will reduce credit card interest charges by 50% for personal and small business clients receiving credit card minimum payment deferrals. The 50% relief will automatically be applied to your statement.
- Waived setup fees for new enrollments to cash management solutions
- Waived Stop Payments fee
If your business is experiencing financial hardship as a result of COVID-19, please contact your advisor or call our Advice Centre at 1-800-ROYAL-20 to discuss your options.
First Republic Bank
We are here to help. If you or your business experience a hardship due to this challenging environment, please don’t hesitate to reach out to your banker or wealth management professional. If you are unsure of who to contact, please email info@firstrepublic.com or call (888) 408-0288.
First Republic has been pleased to participate in the Small Business Administration (SBA) Paycheck Protection Program (PPP) and provide to thousands of our existing small business and nonprofit clients successful access to the program’s funds.
The SBA announced on April 16 that the initial funding limit for the Paycheck Protection Program was reached. The SBA is currently unable to accept new applications to the PPP based on available appropriations funding. Accordingly, we are unable to accept new applications until further guidance from the SBA.
If you have any questions, please reach out to your banker directly, or email SBA_Solutions@firstrepublic.com.
Huntington
We know our customers are facing challenges right now. And while daily life feels very different, and the situation is constantly changing, one thing will remain the same: we’re here to help. In addition to offering relief programs, we’re empowering our colleagues, so they can support you and make sure you can have access to the financial services you need.
- Paycheck Protection Program (PPP); Economic Injury Disaster Loans (EIDL); SBA Traditional 7A; Small Business Loan Payment Deferral Program
- Suspension of Late Fees on Business Loans:
Beginning in March 2020, Huntington has suspended charging late fees on business loan payments. This suspension is effective through the end of May 2020 and we will continue to evaluate whether to extend this program. - Credit Card Payment Assistance:
We understand that making payments on your Voice Business Credit Card® may be difficult right now. Huntington is currently not assessing late fees on monthly credit card payments. For payment deferral requests, contact (800) 372-7725, Monday through Thursday 8:00 a.m. to 11:00 p.m., Friday 8:00 a.m. to 9:00 p.m. and Saturday 8:00 a.m. to 4:00 p.m. ET. - Fee Waiver Information for Small Business Customers:
We will waive overdraft and return fees for all small business customers, regardless of checking account type, for April and May 2020.
For all customers with an Unlimited or Unlimited Plus Business Checking account, we will waive the Monthly Account Service fee, for April through December 2020,
You do not need to take any action to take advantage of these waivers—we’ll do them automatically. We will continue to look out for you and your business as we navigate this challenging situation, together.
BBVA
Should you experience unfortunate hardship as a result of COVID-19, we want to help you. Please find below the assistance options that may be available to you.
For Loan or Credit Card Payment Assistance:
To request a real estate loan, personal loan, credit card or Small Business loan payment deferral or extension, please fill out a request via our secure Online Payment Assistance Portal for the fastest response.
For Consumer and Small Business Customers:
- Waived and refunded ATM fees charged by other banks/ATM networks to use their ATMs. Available upon request.
- Penalty-free CD withdrawals, for CDs opened prior to March 1. Available upon request.
- Consumer and small businesses may request refunds of overdraft fees.
- Waived Balance Transfer Fees for existing bank customers who open a BBVA ClearPoints or Rewards Credit Card April 3 - 30. Applicable to balance transfers made 60 days from account opening.
For Small Business Customers:
- Temporary waiver of the Monthly Maintenance Fee for the desktop Remote Deposit Capture Service. Available upon request.
- Temporary waiver of the deposit account monthly Service Charge. Available upon request.
- Free Virtual Terminal for Current Clover Merchants (for new Merchants available upon request.)
If you have questions on accounts or need to speak with a telephone banking agent, customers can contact 1-844-BBVA-USA, or you might find our Online and Mobile Banking even more convenient. If you already work with a banker or branch, you may contact them directly for assistance.
CIBC
CIBC has announced immediate measures to help ease financial hardship for our CIBC Bank USA clients as a result of the COVID-19 pandemic, as well as a long-term commitment to help with recovery efforts.
- Small Business Loan Payment Deferral: CIBC Bank USA will offer qualifying small business clients experiencing business disruption due to COVID-19 the ability to defer their next 4 principal and interest payments with no credit bureau impact. Clients should call their relationship manager to request this assistance.
- Economic Hardship Loan: CIBC Bank USA offers existing consumer clients experiencing personal financial hardship as a result of the COVID-19 pandemic the ability to apply for an Economic Hardship Loan of up to $10,000 with no payments for 90 days and no interest for the life of the loan, up to 24 months. Clients should call the Client Support Center at 877-448-6500Opens your phone app. to begin the application.
CIBC also announced a $2 billion, 2-year commitment to support businesses, consumers and our partners as we work to re-energize our communities once this difficult period is over.
Associated Bank
Associated Bank has a long history of supporting our customers and communities in their times of need, and we are here to support you now and through the uncertainties yet to come.
For Small Business Owners:
- Small Business Loan Payment Deferral Program – If your small business is facing a financial hardship due to COVID-19, contact Associated Bank. We will make available payment deferrals for up to 180 days, with no credit bureau impact. For assistance or questions, contact your banker or call 800-337-4641 Monday through Friday 8:00 a.m. to 5:00 p.m.
- Small Business Credit Card Payment Relief – We will provide temporary payment relief assistance, including fee waivers and preventing the assessment of late or over limit fees, for customers who contact our Cardmember Services using the number on the back of their card.
- Small Business Loan Late Fee Suspension – We will suspend late fees on loan payments in April 2020, providing customers the opportunity to adjust to workplace changes.
- Paycheck Protection Program –The Small Business Administration has discontinued accepting applications. Please visit AssociatedBank.com/CARES for updates.
- Economic Injury Disaster Loan Program - The U.S. Small Business Administration (SBA) has made an Economic Injury Disaster Loan (EIDL) program available. Small business owners can find an overview from Associated Bank and find application information through the SBA online.
Umpqua Bank
Throughout our communities, customers like you are experiencing financial disruption due to the Coronavirus/COVID-19 public health crisis. If you or your small business have been impacted negatively due to quarantine or income loss, contact us. We may have options to help you during this challenging time.
Umpqua Business Loan Relief: Contact our Small Business Team at (833) 898-0979
Now more than ever, we’re here to support small businesses by connecting you to the tools, resources and expertise you need to get through these challenging times. From relief measures to practical tips that can help you protect the financial health of your business, visit website.
- CARES ACT: Tax Law Revisions
- Business Continuity Plan: How to Prepare for Business Interruptions
- What the CARES Act Means for Small Businesses
- Infectious Disease Outbreak Plan:
- Considerations for Employers Preparing for Coronavirus
- How to Protect Your Business Capital
Commerce Bank
Our priority is to help you and your business succeed in good times and challenging times. We’re here to help.
Contact us to learn more about the ways we’re offering relief to our business customers who have been impacted by the coronavirus pandemic:
- Existing business loan customers may be eligible for payment deferments.
- Business credit card customers may be eligible to defer payments and have late fees waived or refunded.
- Business customers may request to have overdraft fees refunded.
- Merchant services customers that closed temporarily may have their monthly minimum fee and regular monthly fee waived for the months they were not processing.
- Additionally, the SBA is offering direct financial support options including low interest loans of up to $2 million. These loans are provided directly from the SBA and are not affiliated with Commerce Bank. Learn more at https://disasterloan.sba.gov/ela/.
Flagstar
We appreciate your business and are committed to assisting you through any disruptions that may arise relating to COVID-19.
- Paycheck Protection Program for business customers
As an SBA-approved lender, Flagstar Bank is fully participating in the CARES Act Paycheck Protection Program. The rapid rollout of this program and an unprecedented demand for loans has presented challenges. As of Thursday, April 16, initial funding for this program has been exhausted. As a result, we are no longer taking new applications at this time. However, we are advocating for and anticipate the announcement of the second round of funding to be made available by Congress. - Help for loan customers
Flagstar is offering a payment deferral program for qualifying business and commercial loan customers. To learn more about the program, please contact your branch manager or relationship manager. - Access your deposit account(s)
If you are a business or commercial customer, you can access your deposit account(s) via online banking or Treasury Access (Business Banking). You may also reach out to your relationship manager if you have questions about your loan or line of credit. - Help for business checking and savings customers
We understand that these uncertain times can deeply impact your business. Flagstar is offering select fee waivers for business checking, savings and money market account customers.
- Business deposit accounts
The following fee waivers** and relief measures will be in place for 90 days, effective Thursday, March 26*.
- Monthly Maintenance Fees on Checking, Savings and Money Market Accounts
- Overdraft Transfer Fee from a linked account-- (Deposit Overdraft (OD) Protection) - $10
- Consecutive Days Overdrawn (OD) Fee
- Excessive Debits Fee (each) for Money Market and Savings Accounts-Regulation D limits still apply.
If you are experiencing a financial hardship and need additional assistance please call our customer support at (888) 248-6423.