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FirstBank offers automatic moratoriums; Oriental unveils online help

Two of Puerto Rico’s main banks unveiled different measures over the weekend to help customers whose finances have been affected by the lockdown and mandatory curfew in place since Mar. 15, offering moratoriums and online help.

FirstBank announced automatic stays on loan payments, offering qualifying clients the benefit for the months of April, May and June. Clients will not have to contact the bank.

Products eligible for the automatic moratorium will be: car loans and leases, personal loans, credit cards, individual lines of credit, and small personal loans from Money Express.

To qualify for the bank’s Economic Relief Plan, the account must have no more than two late payments — not exceeding 89 days past due on Mar. 16, 2020. In the case of credit cards, to qualify, the client must have the account up to date as of that same date. 

If the client is registered in the Direct Debit Service, and wants to take advantage of the moratorium, they must call 787-725-2511 to request it, the bank stated.

For mortgages, the help available will depend on the type of loan, number of months in arrears and the particular situation as a result of the emergency. For more information, the customer should call the FirstBank Call Center, from 8 a.m. to 9 p.m. Monday through Sunday, or write a private message on the bank’s Facebook page: facebook.com/firstbank, including a full name and phone number. The client may also send the bank an email.

Meanwhile, Oriental announced it has a financial assistance application available online, 24/7. Customers may complete the application and a representative will contact to assist them. 

“We have created an online assistance request so that clients who have been financially affected by the coronavirus COVID-19 situation and need help can complete it at any time of the day,” said Idalis Montalvo, vice president of marketing and public relations at Oriental. 

“We’ve been receiving a high volume of calls daily, and we want to make the process easier for our clients,” she said. “A representative will contact the person to discuss their financial situation individually and evaluate the different alternatives that best suit their needs.”

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This story was written by our staff based on a press release.

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