Bank to Offer Fee, Credit Relief to Customers
MIAMI, September 11, 2017 – Wells Fargo (NYSE: WFC) announced today it is donating a total of $1.1 million to support Hurricane Irma relief efforts in Florida and the Caribbean. The company’s donation includes $500,000 to the American Red Cross Disaster Relief Fund, $500,000 to local nonprofits focused on relief efforts in the immediate future, and $100,000 to International Medical Corps as that organization engages in relief efforts in the Caribbean. Wells Fargo will continue to monitor Irma’s impact as the now tropical storm makes landfall in other states to determine how the company may assist there.
“Our thoughts and prayers are with everyone in Florida and the Caribbean who has endured Hurricane Irma and its destruction,” said Tim Sloan, Wells Fargo CEO & president. “Wells Fargo is committed to working with organizations and agencies to help our communities recover and we will determine the best way to support any additional efforts in the days and weeks ahead.”
Wells Fargo Customers Impacted by Hurricane Irma
Wells Fargo will provide payment relief for the next 90 days on credit cards, student loans, auto loans, home mortgage, home equity and retail small business loans and lines of credit in FEMA declared areas. There will be no negative credit reporting for those customers who receive payment relief. Impacted customers who are not in a FEMA declared area are also able to receive similar benefits by contacting Wells Fargo.
The bank is also proactively waiving or refunding fees for impacted consumers in FEMA declared areas; this includes late fees and debit card over-the counter cash disbursement fees, and our ATM fees for using non-Wells Fargo ATMs. Wells Fargo will also deploy mobile ATMs as soon as it is safe and feasible to do so. The company will share location information at the time of deployment.
After 90 days, customers who are still experiencing hardships should contact customer service to discuss additional relief options. Specific information regarding how customers should go about working with Wells Fargo on disaster assistance follows at the end of this release.
Wells Fargo Customers Who Would Like to Donate to Relief Efforts
From September 12 through September 25, Wells Fargo customers nationwide who wish to support American Red Cross hurricane relief efforts may do so by:
- Using any Wells Fargo ATM in the U.S. and selecting the option to donate. There is no fee and 100% of contributions will be sent to the American Red Cross
- Redeeming any amount of available Go Far® Rewards for donation. Go Far Rewards customers can access their rewards account at GoFarRewards.wf.com or by calling the service center at 877-517-1358.
“Our customers have shown time and again their compassion for and commitment to helping friends, neighbors, and strangers alike to regroup and rebuild following the devastation of natural disasters,” said Jon Campbell, head of Corporate Responsibility and Community Relations. Since Aug. 29, Wells Fargo customers have so far donated nearly $1.7 million to the Red Cross at Wells Fargo ATMs, to support relief efforts for those impacted by Hurricane Harvey.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2016 rankings of America’s largest corporations. The Chronicle of Philanthropy ranked Wells Fargo No. 3 on its most recent list of the top corporate cash philanthropists. In 2016, Wells Fargo donated $281.3 million to 14,900 nonprofits and Wells Fargo team members volunteered 1.73 million hours with 50,000 nonprofits. Wells Fargo’s corporate social responsibility efforts are focused on three priorities: economic empowerment in underserved communities, environmental sustainability, and advancing diversity and social inclusion. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Wells Fargo Disaster Relief Customer Assistance Information
Wells Fargo Home Mortgage and Home Equity customers impacted by Hurricane Irma may discuss potential payment and disaster assistance options by contacting the Wells Fargo Disaster Assistance Team, 888-818-9147, Monday through Friday from 7 a.m. to 11 p.m. EST, and Saturday and Sunday from 8 a.m. to 6 p.m. EST. Any affected Wells Fargo customer or client who may wish to discuss other financial needs may call 800-TO-WELLS (800-869-3557), 24 hours a day, seven days a week.
Customers in the impacted area who participate in an employer-sponsored 401(k) plan provided by Wells Fargo may be eligible to access their retirement savings. Recently, the IRS relaxed rules for employers that allow individuals easier access to their retirement savings for hardship purposes. Wells Fargo is prepared to make hardship withdrawals or loans available to customers that qualify under these new guidelines. For more information, customers should call 800-728-3123.
Retail small business customers impacted by the hurricane are encouraged to call Wells Fargo, 800-225-5935, for more information and to discuss their options. Wells Fargo Insurance Services has also contacted clients in impacted areas to provide support and expertise.
Customers of Wells Fargo Merchant Services who are in need of assistance with their merchant processing due to the impact of Hurricane Irma can call 800-451-5817. Impacted merchant customers who contact Wells Fargo by Sept. 30 can receive a complimentary Wells Fargo Mobile Merchant card reader to attach to a mobile device, which will allow their business to accept card payments. The one-time cost for the card reader is waived; however, processing and data rates will still apply.
Commercial Distribution Finance is also working to ensure customers have adequate credit lines to handle the retail orders that may come through as a result of the relief and rebuilding efforts. Relationship teams are reaching out to business customers who may have been materially impacted by the storm to address their credit and cash flow management needs and provide relief on a case-by-case basis.