CHAMPAIGN — Busey Bank announced a number of steps Monday to help its customers through the coronavirus pandemic, including waiving some fees and deferring loan payments.
Busey’s financial-relief program goes into effect immediately. For the next six months, consumers and retail customers will have fees waived for pre-authorized transfers to prevent overdrafts and for all transfers over the usual limit of six per monthly statement cycle on consumer/personal savings and money market accounts. In addition, there will be free debit-card replacement and express delivery of new cards.
Busey may also waive other fees, like those for overdrafts and penalty-free early CD withdrawals, for customers affected by the pandemic upon request.
For personal loan and mortgage customers, Busey is offering multiple payment-deferral options for those who qualify, and this won’t impact credit reports. Qualifying customers may be able to get payment relief for up to 12 months and waivers of late fees.
Busey is also halting foreclosure sales and evictions until at least May 17.
For commercial clients and small businesses, Busey is offering various options, including 90-day deferral of term loan payments.
More information is available at busey.com/financialreliefprogram.