Personal banking during the
COVID-19 pandemic

PERSONAL | BUSINESS | WEALTH

Financial hardship assistance

We have enacted hardship relief assistance for customers experiencing financial difficulty as a result of COVID-19, including the consideration of fee and penalty waivers, loan deferrals or other scenarios that may help our customers.

If you are facing hardship related to COVID-19, you are encouraged to reach out to us at 888.444.9876 to discuss your banking needs Monday through Friday from 8 a.m. to 8 p.m. ET and Saturday from 8 a.m. to 5 p.m. ET.

  • Residential Mortgage Loans – contact the servicer of your mortgage loan, which can be found on your mortgage statement, or your Private Banking Relationship Manager
  • Business Loans – contact your Relationship Manager or Banking Center Manager
  • Credit Card – contact the customer servicer number on the back of your credit card

Community Committment

Additionally, Comerica and the Comerica Charitable Foundation have announced plans to invest a total of $8 million in COVID-19 relief efforts to provide community programming support and contributions to Community Development Financial Institutions (CDFIs) and other nonprofits that support micro-sized businesses. Read our recent news release.

Stimulus Payment updates

We know that customers have many questions about the American Rescue Plan Act that was approved by Congress in March 2021. To get the most up-to-date information on credits and payments, please visit IRS.gov/coronavirus.  Here's an overview to help answer many of the common questions you may have.


Advance Child Tax Credit (as of July 14, 2021)

  • As a part of the American Rescue Plan Act the IRS is initiating the Advance Child Tax Credit (ACTC) based on your 2019 or 2020 tax return. To help people understand this benefit, the IRS has created a special Advance Child Tax Credit 2021 page to provide the most up-to-date information about the credit. The page also features links to the Non-filer Sign-up Tool, the Child Tax Credit Eligibility Assistant and the Child Tax Credit Update Portal. The dates announced by the IRS for the ACTC credits are July 15, August 13, September 15, October 15, November 15 and December 15.
    If you have a Comerica checking/savings account on file with the IRS (for direct deposit of tax refunds or Social Security benefits), you will likely receive your ACTC via direct deposit. Please note, Comerica will post payments as soon as they are received and instructed by the government and has no control over the deposit or mailing method used by the IRS. 
  • What if your Comerica account is currently overdrawn?
    • Michigan, Florida, Texas & Arizona markets: Comerica has elected to temporarily defer any set-off or other collection remedies the bank may have to recover an overdraft balance in the account at the time your ACTC is posted. This deferred overdraft amount will appear on your statement as "ACTC BK DEFERRED OD BAL."
      • Approximately three weeks later, Comerica will forgive up to $100 of the deferment, then debit your account for the remainder of the deferment. This will occur regardless of the status of your account (active, suspended or closed) on the date of the debit. The debit will appear on your statement as "ACTC BK DEFERRED OD RCVRY." All other terms and conditions of the Business and Personal Deposit Contract remain effective and unchanged.
    • California Market: If your account is overdrawn, Comerica will credit your account up to the amount of the overdraft. The transaction will appear on your statement as "ACTC BK DEFERRED OD BAL ." This will help ensure that you have full access to your ACTC. Comerica will temporarily waive its right to perform any set-off or other collection remedies the bank may have to recover an overdraft balance in the account when your ACTC is posted; however, this action does not eliminate or discharge debt owed to Comerica.

 

Economic Impact Payments

  • Individual payments: no action is needed for qualified individuals to receive a stimulus payment
    • The Treasury has an online "Get My Payment" tool for individuals to:
      • Check on your payment status
      • Confirm your payment type: direct deposit or check
      • Enter your bank account information to the IRS online to receive payment via direct deposit (if not already sent). For help locating your Comerica checking/savings account number and routing number to prepare to set up a direct deposit with the IRS, please visit our page on Comerica Routing Numbers.
    • If you have a Comerica checking/savings account on file with the IRS (for direct deposit of tax refunds or Social Security benefits), you will likely receive your payment via direct deposit. Please note, Comerica will post payments as soon as they are received and instructed by the government. 
    • If you do not have a checking or savings account on file with the IRS, you will most likely receive a paper check mailed to your last known address with the IRS. Please note, Comerica has no control over the method used by the IRS.
  • Direct Express distribution:
    • Social Security and Disability recipients are eligible for these payments and will generally receive the automatic payments by direct deposit, Direct Express debit card, or check, just as they would normally receive their benefits.
    • The expected distribution date for Direct Express recipients is still being determined and will be directed by the government and not Comerica Bank.
    • Direct Express FAQ sheet

Finally, be aware that fraudsters often seek to take advantage of economic stimulus programs. Help protect yourself and your family against coronavirus scams by reviewing these tips.

Helpful Resources