With many businesses still reeling from power loss only accepting cash, Gov. Andrew Cuomo on Friday announced that several state-charted banks will suspend ATM fees while locals are recovering from Superstorm Sandy.
M&T Bank, Apple Savings, Dime Savings Bank of Williamsburgh, Emigrant Savings Bank and New York Community Bank will drop fees during the hurricane recovery.
"Thousands of New Yorkers’ lives have been disrupted by the storm – including their usual financial obligations and activities," Cuomo said in a statement. “As a result, some people may have late payments or be forced to incur other bank fees and penalties. For example, they may not be able to avoid ATM fees if they can’t find a working ATM from their own bank."
Those banks will also waive late fees, overdraft fees, bounced-check fees and early withdrawal fees.
The governor on Friday also announced that the New York State Higher Education Services Corp. will give a 90-day grace period to students from New York affected by the storm, extending until Jan. 25, 2013.
The HESC will also hold off on reporting delinquent accounts to credit bureaus during that time.