COVID-19 UPDATES - FAQs

Coronavirus Response FAQs

What is SouthState doing in response to the coronavirus?

We are following CDC guidelines for decreasing the spread of COVID-19, including requiring face coverings inside our buildings, encouraging social distancing, installing Plexiglas barriers in branch locations and increasing cleaning of surfaces, including ATM keypads, doorknobs and counters. Additionally, we have hand sanitizer in our branches for use by customers and team members.

We encourage you to continue visiting SouthStateBank.com/CoronavirusResponse for any updates on our response.

What are you doing to protect your tellers and branch staff who handle money?

The health and safety of our team members and our customers is our top priority. Our tellers and branch staff have hand sanitizer, hand sanitizing wipes and gloves at their disposal. Additionally, in line with CDC recommendations, we have increased the cleaning of hard surfaces in our branches and the key pads at our ATMs. To further protect our customers and team members, all SouthState branches will transition to a drive-thru only model on Thursday, March 19.

What assistance are your offering in response to the coronavirus?

We are committed to providing assistance options, including loan payment deferrals, to support customers affected by the virus. Please contact your local banker or South State Customer Care for assistance.

Branch Operations

Why is SouthState only opening Drive Thrus?

As a preventative measure for the well-being of our customers and team members, we are presently operating Drive-Thru only service. In addition to serving customers via our Drive-Thrus, our Online and Mobile Banking are convenient options and allow customers to handle many of their banking needs.

Is SouthState cleaning ATMs and Drive Thrus?

We are following CDC guidelines for increased cleaning of surfaces, including ATM keypads; however, our drive thrus and drive up ATMs are exposed to the outdoors, so we encourage you to practice responsible hand hygiene by washing your hands or using hand sanitizer, as you normally would after touching outdoor surfaces.

Will the Bank handle all transactions typically performed in the branch through the Drive Thru?

The majority of transactions can be handled through the Drive Thru; however, some transactions will need to be done face-to-face with a banker. For example, if you need to sign loan documents or access your safe deposit box, please contact your local banker.

When visiting our Drive Thru, if the transaction you need to perform requires you to come inside the branch, the banker will inform you and schedule a time with you to come inside the branch.

Account/Safe Deposit Box Access & Digital Services

How can I access my accounts if the branch is closed?

The majority of transactions can be handled through the Drive Thru. In addition, SouthState Online, Mobile and Phone Banking, as well as Treasury Navigator and the Treasury Navigator App (for Treasury customers) are available 24/7 so that you can continue to access your accounts, transfer funds and pay bills.

What are my options for accessing my account if I don’t use online services?

Our Drive Thrus are open during normal business hours, and bankers will be able to assist you with your banking needs. ATMs remain functional should you need to quickly withdraw funds from your account. Some SouthState ATMs also accept deposits, please see our locations page to find deposit taking ATMs.

I don’t have Online Banking, how do I get started?

Form the home page of SouthStateBank.com, click “Enroll Now for Online Banking” at the bottom of the “View Your Accounts” box. You will need your Phone Banking PIN enroll. Your Phone Banking PIN is the last four digits of your social security number, unless you have changed it.

Will my debit card still work if branches are closed?

Yes. Your debit card will continue to work.

What should I do if I need to empty the contents of my safe deposit box?

If you need to empty the contents of your safe deposit box, please contact your local banker for assistance.

IRA and HSA Information

Am I required to take a Required Minimum Distributions (RMDs) from my IRA for 2020?

No. The Coronavirus Aid, Relief and Economic Security Act (CARES) Act waives the RMD for retirement customers this year. If you wish to stop your RMD, please contact your local banker or call us at (800) 277-2175.

Will I incur a withdrawal penalty if I make a withdrawal from my IRA?

IRA customers affected by the impact of COVID-19 who are under age 59 ½ will not incur a 10% IRS tax penalty on up to $100,000 of Coronavirus Related Distributions.

Please consult your tax advisor on how this could affect their tax situation.


General

Is my money safe at the bank?

Yes. Your money is safe in the bank.

Is SouthState FDIC insured? And, what does it cover?

Yes. SouthState is FDIC insured. FDIC insurance covers all deposit accounts, including:

  • Checking accounts
  • Savings accounts
  • Money market deposit accounts
  • Certificates of deposit

FDIC insurance does not cover other financial products and services such as stocks, bonds, mutual funds, life insurance policies, annuities or securities.

The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

You can learn more about FDIC Insurance by visiting FDIC.gov and selecting the “Deposit Insurance” dropdown.

Is SouthState experiencing a current disruption in coin circulation?

Like all banks and many businesses, SouthState is experiencing some disruptions in coin availability.

The Federal Reserve is working on several fronts to mitigate the effects of low coin inventories and circulation, which includes managing the allocation of existing Federal Reserve inventories, working with the U.S. Mint, as the issuing authority, to minimize supply constraints and maximize coin production capacity.

We are monitoring this situation closely, and anticipate a return to normal coin reserves as the coin circulation in the country improves.

For more information, please visit the Federal Reserve website, frbservices.org.

Is SouthState currently accepting coins?

Yes, SouthState is accepting rolled coin in the first lane of our drive-thrus. Coin wrappers are available from your local branch upon request.

I am a SouthState business customer and need coin. Can you assist me?

Please contact SouthState Customer Care or your local banker regarding availability of coin in your area.

I am not a SouthState customer, but need coin. Can you assist me?

We apologize for the inconvenience, but due to limited coin inventory and circulation, we are only assisting SouthState customer coin needs at this time.

Mainstreet Lending Program

 What businesses/non-profits are eligible for the Main Street Lending Program (MSLP)?

MSLP eligibility requirements are available on the Federal Reserve Bank of Boston’s website: bostonfed.org/mslp.

 If a business/non-profit meets the eligibility requirements for the Main Street Lending Program, will it be approved for a MSLP loan?

Although a business or non-profit may meet all eligibility requirements for a MSLP loan, South State will apply its own underwriting criteria to all requests. Therefore, an application could be denied or the maximum loan amount may not be approved.

 Can I obtain an MSLP loan if I received a Paycheck Protection Program (PPP) loan?

If you received a PPP loan, you may be eligible for an MSLP loan; however, unlike PPP loans, MSLP loans are not eligible for loan forgiveness. We encourage you to reference the FAQs on the Federal Reserve’s Main Street Lending page for additional information regarding eligibility and consult your financial and legal advisors.

 Who should I contact with questions regarding the program?

Please carefully review the information and FAQs available on the Federal Reserve Bank of Boston’s website and the Federal Reserve’s Main Street Lending page for information and conditions of the program. Businesses should also consult their legal and financial advisors to determine if the program is the right fit for them.

Should you have additional questions after consulting with advisors, please contact your South State banker.

 How do I apply for a Main Street Lending Program loan?

Businesses are encouraged consult their legal and financial advisors and carefully review the eligibility requirements and terms of the various loan facilities offered through the program to determine if the program is right for them.

Businesses that wish to move forward with the application process should contact their South Sate banker.

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