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Frequently asked questions

Certified Bank On bank accounts provide convenient tools for managing and tracking your money, while making sure your money is safe and secure. These accounts never have overdraft or minimum balance penalties, and your bank or credit union can alert you when your balance is low. You can use direct deposit and if you lose your debit card, you can remotely lock the card to make sure no one uses it without your permission.​

Certified Bank On accounts are designed to work well for customers like you. They require just $25 to open, have no minimum balance penalties, and never allow or charge for overdrafts. Bank accounts also give you convenient tools for managing and tracking your money. Getting a bank account is a positive step on the path toward having an emergency fund and building your savings.​

​​Certified Bank On bank accounts help you manage, track, and protect your money. There are no overdraft fees or minimum balance penalties, and Bank On bank accounts enable you to freeze your debit card if it is lost or stolen. This feature keeps your cash secure and ensures you are the only person who can access your money. ​

Certified Bank On bank accounts never have overdraft or minimum balance penalties, and they can send you an alert when your account balance is low. They also provide easy and free ways of spending, managing, and protecting your money, all for $5 a month or less. Getting a bank account is the right first step on the path toward the important financial goals that matter most to you, including having an emergency fund and building your savings.​

Having a bank account with a bank or credit union is an important step in establishing credit. Once a financial institution knows you as a customer, you can take advantage of the credit-building products it may offer, including credit cards or small personal loans. ​

Certified Bank On bank accounts can benefit everyone. These accounts are opened all the time for people who have a poor banking history. Certified Bank On accounts are about getting a second chance to have a dependable way to manage your money. ​

In most places, two types of identification are required. A Social Security number is always accepted, but many banks and credit unions do not require one if you are not a U.S. citizen. Sometimes, one form of ID and a bill with your name and address are enough to open an account. Call first to find out the bank’s or credit union’s requirements.​

Consular IDs, such as the matricula consular, can be used to open accounts. Mexican and other consulates in the United States offer them. Visit your country’s consulate for more information.​

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Driver license, passport, birth certificate, and a bill with your name and address on it.​

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Credit unions are nonprofits that serve their members. When you join a credit union, you become a member by opening a share account. It is usually costs about $5. Credit unions tend to be smaller and have a defined area (such as a region or a state) they serve. Banks can be either small or large. They are governed by a board of directors chosen by the stockholders. They are for-profit business corporations.​

Even if something happens to your bank, the U.S. government guarantees your money up to $250,000, as long as the bank is FDIC-insured or the credit union is NCUA-insured. Look for the official FDIC or NCUA sign when opening an account.​

​​A checking account allows you to write and deposit checks or use debit or ATM cards, instead of paying with cash. It is a way to manage bill payments. A savings account is a secure way to save money for bigger goals. A savings account pays interest on the money in your account. The higher the interest rate, the more money your savings makes. Most savings accounts have limits on withdrawals, usually three to six a month.​

Most savings accounts pay a small amount of interest on the money in your account. That means your money is making money while it is in the account. The higher the interest rate, and the more money you put in the savings account, the more money it produces. Note: Interest earned has to be reported as income and is subject to state and federal income taxes.​

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