HOME > MEMBER SERVICES > BANKON CERTIFIED ACCOUNTS
BankOn Certified Accounts
Bank On certified accounts are publicly available, transactional accounts that meet the Cities for Financial Empowerment Fund’s National Account Standards.
How it Works
Bank On connects consumers to safe and affordable bank accounts. The Bank On national platform, led by the nonprofit Cities for Financial Empowerment Fund (CFE Fund), helps individuals navigate the marketplace and easily identify accounts that meet their needs. When an account is Bank On certified, consumers know it has features they are looking for, including low or no fees, no overdraft charges, online bill pay and other basic attributes—giving them more confidence to begin or restart their banking relationship with the right tools to manage their money.
Across the country, Bank On coalitions help match consumers with financial institutions in their community that offer the “certified” accounts. To date, close to 90 state or city coalitions work to connect residents to the 24,000 financial institution branch locations in the U.S. that currently offer a Bank On-certified account.
The Benefits of Offering a Bank On Certified Account Include:
Community Opportunities:
- Public recognition both locally and nationally highlighting your product
- Eligible to work with over 100 Bank On coalitions on local programs that rely upon certification to connect your account to consumers
- National Bank On certification seal of approval for marketing outlets
Sustainable Consumer Base:
- Reach new customers in your community who are un- and underbanked and bring them into the financial mainstream
- Deliver a product with features that are in demand
- Sell your product through public and community banking access programming
Earn CRA Credit:
- Products certified as meeting Bank On National Account Standards have been called out by banking regulators as eligible for the Community Reinvestment Act
- Streamlined reporting through the Federal Reserve Bank of St. Louis Bank On National Data Hub
Bank On Account Certification
Many banks already offer qualifying accounts and can apply, at no cost, for a Bank On certification through the CFE Fund. For those banks that don’t currently offer accounts that meet every Bank On standard, the industry’s top core providers, who provide the operational backbone for many banks, have committed to simplifying the process for banks to create and offer qualifying accounts.
Help move the needle on economic inequality by joining the growing list of banks that offer Bank On certified accounts. To sign up, visit joinbankon.org/certify.
About Bank On
The Bank On National Account Standards were created by national nonprofit organization the Cities for Financial Empowerment Fund—or CFE Fund—and are widely supported by consumer advocates and the financial services industry.
More Resources on Financial Inclusion
- Inclusive Banking resource page – all of ABA’s news, training and event opportunities, and policy updates to support banks’ financial inclusion efforts
- Core providers supporting Bank On – a list of core providers that have committed to make it easier for banks to create and offer Bank On certified accounts
- Choosing a safe and affordable bank account – information for consumers new or returning to banking on selecting an account that meets their individual needs, including an introduction to Bank On-certified accounts and where to find them