PNC Bank is the First to Offer Two Bank On Certified Accounts
NEC member PNC Bank recently became the first financial institution in the country to offer financial products that meet the Cities for Financial Empowerment Fund’s (CFE Fund) “Bank On” national certification standards . PNC’s Foundation Checking and PNC SmartAccess Prepaid Visa Card both meet the Bank On standards, which aim to ensure greater opportunity, equity, and access to quality financial services for those excluded from the mainstream financial system, involve low costs and fees, no overdraft, and customer-friendly features.
“We are committed to providing banking services for customers who may not have had access to traditional checking or savings accounts in the past,” stated Bonnie Wikert, head of PNC’s Retail Segments and Deposits. “Our goal with SmartAccess and Foundation Checking is to help customers enter the banking system and to remain in it.” The accounts include services like a money management course, low-balance alerts, mobile app, and no overdraft, non-sufficient funds, or cashier’s check fees. Interested individuals can find more information about the accounts at their local branch.
“Particularly during this pandemic, a safe, affordable, and truly useful mainstream banking product in which to deposit stimulus payments and from which to remotely pay bills is more important than ever,” said Jonathan Mintz, president and chief executive officer of the CFE Fund. “We applaud PNC’s decision literally to double down on their commitment to offering Bank On certified accounts.”
The New England Council congratulates PNC Bank on this significant achievement and commends the institution’s continuous dedication to expanding access and opportunity in the financial sector. Read more from PR News Wire and PNC Bank’s press release.