The City of Philadelphia has partnered with Bank On to help residents get safe and affordable banking services. By using a Bank On-approved account, residents can avoid costly check-cashing services and unexpected fees. They can also get access to online banking and bill payments.
All Bank On-approved accounts have:
- A minimum opening deposit of $25.
- Low or no monthly fees.
- No overdraft fees.
- Online and mobile banking.
- Online bill payments.
Anyone who meets the requirements can open a Bank On-approved account, even if they have debt or a low credit score.
If you’ve had a bank account before, but the bank closed it, you can still open a new account.
To open an account, you must provide:
- A valid form of identification, such as a driver’s license, state ID, or Social Security card.
- Proof of your address.
- If you are experiencing homelessness, you can ask a local shelter to use their address. You can also use the address of a friend or family member.
- A phone number.
- Lifeline, a federal program, may be able to help you get low-cost phone service.
You must also:
- Make a deposit of $25 or more.
- Be prepared to pay a small monthly account fee, if needed. All Bank On-approved accounts cost $5 or less per month.
Where and when
In Philadelphia, you can get a Bank On-approved account at:
- Bank of America (Advantage Safe Balance Banking Account)
- Chase (Secure Banking Account)
- Key Bank (Hassle-Free Account)
- PNC Bank (Smart Access Account)
- PNC Bank (Foundations Checking)
- TD Bank (TD Essential Banking)
- Truist (Money Account)
- Wells Fargo (Clear Access Banking)
- Fulton Bank (Xpress Account)
- M&T Bank (MyWay Checking Account)
You can find out more about these accounts online or by visiting the banks in person. You can also get free help by contacting a Financial Empowerment Center at (800) 346-7445.
As you make your decision, you might consider:
- How close is the bank to where I live or work?
- When is the bank open?
- What fees are there on the account, if any?
- Does the bank offer services in my language?