Fee waivers, deferred payments and additional offers available to support storm recovery.
Regions Bank on Friday announced a series of financial services that are available to help people and businesses in portions of Alabama, Florida and Mississippi that were impacted by Hurricane Sally1. Options include payment extensions, the waiving of certain fees, interest rate discounts and additional offers.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200918005051/en/
Special services announced by Regions Bank are designed to help people and businesses along the Gulf Coast. (Photo: Business Wire)
“Regions Bank has been part of the Gulf Coast and our inland communities for many years, and we will be here in the days, weeks and months to come as storm recovery moves forward,” said John Turner, President and CEO of Regions Financial Corp. “These financial services are designed to make the recovery easier, and we encourage all customers impacted by Sally to contact us and discuss your individual needs.”
Disaster-recovery financial services available for a limited time include:
- No check-cashing fee for FEMA-issued checks cashed at Regions branches in impacted areas
- Regions Mortgage Disaster Relief Purchase and Renovation loan programs
- Personal and business loan payment assistance2
- Regions fees will be waived when the bank’s customers use other banks’ ATMs in the impacted areas for 30 days beginning Friday, Sept. 18.3
- One penalty-free CD withdrawal4
- An interest rate discount of 0.50% on new personal unsecured loans5
- Business loan payment deferrals available up to 90 days beginning Friday, Sept. 18²
- Payment extensions available for qualified credit card holders²
- An interest rate discount of 0.50% on standard rates for new business loans and/or lines of credit up to $1 million to help with recovery needs in affected areas6
- An interest rate discount of 0.50% on a new unsecured business term loan of up to $50,000 with a term of up to 36 months, including waived origination or loan document fees and options for the first payment to be deferred up to 90 days6
People and businesses in need of the deferrals, discounts and related assistance are encouraged to contact Regions to discuss individual needs and sign up for applicable services. Regions also maintains a year-round Customer Assistance Program. Through this program, bankers listen to the unique needs of individual customers and explore various options to help address financial challenges, such as those prompted by a natural disaster.
Some Regions locations in areas impacted by Sally remain closed due to storm impacts. The bank maintains an updated list of branch closures at this link on Regions.com. Digital banking services remain available 24/7, and customer support can also be accessed by phone.
Additional recovery information is available through the Disaster Resource Center, linked here, on Regions.com. Also, for questions regarding a mortgage, customers can call Regions’ mortgage hotline at 1-800-986-2462. For assistance regarding home equity and other consumer loans, customers can dial 1-866-298-1113.
A dedicated team is also available at 1-800-411-9393 to help with other questions and concerns regarding banking needs.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $144 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,400 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
1 Offers are available for a limited time and only to individuals and businesses affected by the recent disaster, may be subject to other exclusions and restrictions, and are subject to change without notice. All loans and lines, deferrals, extensions or forbearances are subject to required documentation and credit approval. Residency restrictions may apply. These offers are only available in the following ZIP codes: 32413, 32437, 32439, 32459, 32461, 32462, 32501 – 32509, 32511 – 32514, 32516, 32520 – 32524, 32526, 32530, 32533 – 32535, 32540 – 32542, 32544, 32547 – 32550, 32559 – 32563, 32565, 32566, 32568 – 32572, 32577 – 32580, 32583, 32588, 32591, 36441, 36502 – 36505, 36507, 36509, 36511 – 36513, 36521 – 36523, 36525 – 36528, 36530, 36532, 36533, 36535, 36536, 36541 – 36544, 36547, 36549 – 36551, 36553, 36555, 36556, 36559 – 36562, 36564, 36567, 36568, 36571, 36572, 36574 – 36580, 36582, 36587, 36590, 36601 – 36613, 36615 – 36619, 36628, 36633, 36640, 36641, 36644, 36652, 36660, 36663, 36670, 36671, 36675, 36685, 36688, 36689, 36691, 36693, 36695, 39452, 39552, 39553, 39555, 39562 – 39565, 39567 – 39569, 39581, 39595
2 Subject to credit approval. Interest will continue to accrue during the period that the payment is skipped or deferred. For installment loans, deferring or skipping payment may extend the maturity of your loan but will not automatically extend any optional insurance. Forbearances, skipped payments, and deferrals generally (a) vary by customer, (b) postpone – rather than forgive – certain payment obligations, and (c) require payment in full of the postponed payments at the end of the forbearance or deferral period, in addition to any other amounts that come due, unless you make other arrangements with Regions to resolve the delinquency.
3 Regions customers who use other companies’ ATMs may be charged an ATM service fee by the owner of the ATM.
4 The no-penalty offer allows customers to make one partial or complete withdrawal without penalty. The penalty-free withdrawal must be made more than seven days after the issue date or the most recent renewal date (whichever is later). Any other withdrawals will be subject to penalties.
5 Applications submitted online are not eligible for the loan rate discount.
6 New business loan rate discount may not be combined with other special offers or discounts. Interest will accrue during the optional 90-day payment deferral period for unsecured business loans if elected.
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