Benefits of Bank On National Account Standard Certification: Handout

The Bank On National Account Standards provide guidelines on over 25 product features that local Bank On coalitions should seek in their financial institution partnerships and that financial institutions should consider when developing basic transaction accounts.

The CFE Fund invites financial institutions with products they believe meet Bank On National Account Standards (2019 – 2020) to apply for validation, and invites local Bank On coalitions to connect financial institutions with whom they are considering partnering in their communities to do so.

The updated Bank On National Account Standards, identify critical product features for appropriate bank or credit union accounts. Core account features include low costs, no overdraft fees, robust transaction capabilities such as a debit or prepaid card, and online bill pay.

The CFE Fund’s Bank On Listserv is an online community for Bank On coalition members, financial institutions, academics, and other stakeholders interested in banking access efforts.