The nation’s largest banks have already announced the closing of many branches on the East Coast. Banks will monitor changes to weather conditions before reopening the affected branches.
Whenever possible, bank customers are encouraged to use online banking, mobile banking and telephone banking to get their finances in order.
Here’s what the biggest banks have announced so far:
Chase closed multiple branches on Monday in states that are affected by Hurricane Sandy. From now through Wednesday, Oct. 31, certain fees will be waived or refunded to customers in Connecticut, Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia and Washington, D.C. These fees include overdraft fees, overdraft protection transfer fees and late fees on credit cards, business and consumer loans.
After the storm passes, the bank expects to increase staff and extended branch hours in severely affected areas.
(UPDATE: Chase says branches in Connecticut, New Jersey and New York will be closed on Tuesday, Oct. 30.)
(UPDATE3: In a Twitter update, Chase said: “Chase Mortgage is extending interest-rate locks for 7 days in CT, DE, DC, MA, MD, ME, NH, NY, NJ, PA, RI, VA & VT.”)
Bank of America
Bank of America has closed all branches in New York City.
Wells Fargo said it will close 162 branches in New York, New Jersey and Connecticut. The bank will assess which branches will reopen and when.
(UPDATE2: Wells Fargo will assess whether branches will reopen tomorrow. The bank said it will waive late fees on credit cards, consumer loans and certain business loans. Also, out-of-network ATM fees will be waived for customers in Maryland, Virginia, Washington, D.C., Delaware, Pennsylvania, New York, New Jersey and Connecticut. These fee waivers are effective Monday, Oct. 29 through Thursday, Nov. 1 — this timeframe may be extended after further assessment of the impact of the storm.)
Citibank said all branches in New York, Connecticut, New Jersey, Delaware, Boston and Philadelphia will be closed on Monday. Branches in Maryland, Virginia and Washington, D.C. were closed since noon on Monday.
“Should you be affected by Hurricane Sandy, we offer special services during emergency situations. We’re ready to provide financial recovery solutions to those affected, including access to cash and waiving fees,” Citibank said in a notice on its website.
(UPDATE4: Citibank says that all branches that are currently closed in Hurricane Sandy’s impact zone will remain closed at least for tomorrow morning.)
Capital One has closed all branches in Connecticut, Delaware, Maryland, New Jersey, New York, Virginia and Washington, D.C. (full list here). Also, ING Direct cafés in New York City and Philadelphia are closed on Monday.
As of noon Monday, all TD Bank branches in New Jersey, Delaware, Pennsylvania, New York, Connecticut, Maryland, Virginia, Massachusetts, Rhode Island and Washington D.C. are closed.
PNC Bank has reported closure of branches in Greater Maryland, Delaware, most of New Jersey, eastern Pennsylvania, New York City and Greater Washington D.C.