Has Access to Bank On-Certified Accounts Helped Ease Financial Barriers to Bank Account Ownership?

Ying Lei Toh

Payments System Research Briefing, 2025, 6

Abstract: The share of unbanked households has declined considerably in the United States over the last decade. By introducing a set of national standards for safe, low-cost bank accounts, the Bank On initiative appears to have helped address a key barrier to bank account ownership: the inability to meet the minimum balance required to waive monthly fees.

Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.kansascityfed.org/documents/10865/Paym ... riefing25Toh0514.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedkpb:100048

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Payments System Research Briefing from Federal Reserve Bank of Kansas City Contact information at EDIRC.
Bibliographic data for series maintained by Zach Kastens ().