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COVID-19 Updates: Our Response Branch Availability • FAQs • Stimulus Payments PPP Loan Forgiveness

Coronavirus Response FAQs

Frequently Asked Questions

What is South State doing in response to the coronavirus?

We are following CDC guidelines for increased 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 have also enacted our business continuity protocols and are actively planning for scenarios including continuity of critical operations, remote team member work accommodations, and strict in-person meeting and travel guidelines.

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 South State 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 South State only opening Drive Thrus?

As a preventative measure for the well-being of our customers and team members, we are moving to Drive Thru Only service during normal business hours beginning Thursday, March 19, 2020.

Is South State 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, South State 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 South State ATMs also accept deposits. Please visit SouthStateBank.com/Locations to identify our deposit taking ATM locations.

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.

Has the deadline been extended to make 2019 contributions to my IRA?

Yes. The deadline for making contributions to your IRA for 2019 has been extended to July 15, 2020 because the deadline for filing Federal income tax returns has been extended to July 15.

We encourage you to consult your tax advisor if you have any questions regarding your 2019 contributions and this extension.

Has the deadline been extended to make 2019 contributions to my HSA?

Yes. The deadline for making contributions to your HSA for 2019 has been extended to July 15, 2020 because the deadline for filing Federal income tax returns has been extended to July 15.

We encourage you to consult your tax advisor if you have any questions regarding your 2019 contributions and this extension.

General

Is my money safe at the bank?

Yes. Your money is safe in the bank.

Is South State FDIC insured? And, what does it cover?

Yes. South State 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.

Economic Impact Payments FAQs

Am I eligible to receive an Economic Impact Payment?

Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers are not eligible. Social Security recipients and railroad retirees who are otherwise not required to file a tax return are also eligible and will not be required to file a return.

Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples and up to $500 for each qualifying child.

When will I receive my Economic Impact Payment?

Economic Impact Payments are arriving from the IRS in waves over the next several weeks and are being directly deposited for those who provided their bank account information while filing their taxes in 2018 or 2019 or through other federal programs. South State does not know when your payment will arrive until we receive a payment for you from the IRS. To check the status of your payment, click here.

The IRS says my Economic Impact Payment has been sent. When will it appear in my account?

Funds directly deposited into your account will be available on the morning of the effective date of the deposit.

My Economic Impact Payment went into the wrong account. What do I do?

You can easily make transfers from South State accounts via our Online or Mobile Banking. If the funds were deposited into an account at another financial institution that offers a transfer service, you can transfer the funds to your South State account as long as you have your South State account number and routing number. If you do not have this information, please contact Customer Care at (800) 277-2175.

My Economic Impact Payment went into a closed account. What do I do?

If the South State Bank account is closed, South State will attempt to deposit the payment into an account that is open that matches your information exactly. If there are no open accounts at the Bank, the deposit will be rejected and returned to the IRS, and the IRS will issue your payment to the address the IRS has on file for you. If the “Get My Payment” IRS web portal indicates your payment has been processed, you cannot change your bank account information.

The IRS website shows that they deposited my funds into an account for which I am not the owner. What do I do?

You will need to contact the IRS to discuss your options. Visit their Help Center here.

How should I deposit my paper check?

We encourage you to use the South State Mobile Banking App to deposit your check.  If you are not currently enrolled in Mobile Banking, click here to enroll and download our mobile app to use the mobile deposit feature. Please note that funds deposited through Mobile Deposits will generally be available for withdrawal 1-3 business days from the day of the deposit. While our lobbies remain closed, you may also deposit checks through South State drive-thru service and ATMs that accept check deposits.

Where can I find more information?

If you have additional questions related to Economic Impact Payments, please visit IRS.gov.

What if I need to access my full economic impact payment?

For assistance with accessing your payment, please call our Customer Care Center at (800) 277-2175.