1. What is Bank On Atlanta?
Bank On Atlanta is a collaboration between financial institutions, community-based organizations and local government to ensure that all residents have the opportunity to be financially healthy. Together, we are working to connect people to safe, affordable, and certified banking accounts. Our members also offer services and educational resources that help empower individuals and families to improve their financial capability, health and independence.
2. Why do I need a bank account?
- It saves you money: Certified accounts have no hidden fees, cost $25 or less to open an account, and $5 or less in monthly maintenance fees.
- It’s safe: Certified accounts with financial institutions are insured by the Federal Deposit Insurance Corporation (FDIC) and credit unions are insured by the National Credit Union Share Insurance Fund (NCUSIF). That means your money is protected from theft and natural disasters.
- It’s convenient: You can receive your paycheck automatically by direct deposit and pay your bills online instead of paying for money orders, mailing checks, or paying cash at each location. You can access your account and keep track of your spending by calling, website, or an app.
- It helps you save and build a financial foundation: Tracking your spending is easier with an account. It can be the first step to meet your future goals
- Builds your credit: Building a relationship with a financial institution can lead to opportunities such as buying a home or car, paying for college tuition and starting your own business.
3. Do I have to be an Atlanta resident to open an account?
No. The Bank On accounts are available at most participating bank and credit union branches and will be identified by the name of the account (e.g. Wells Fargo EasyPay Card).
4. Can I open an account if I’ve had trouble with a bank account in the past?
In many cases, yes, there are a few exceptions. Every financial institution has different requirements and policies. Please check with them or reach out to BankOn@AtlantaGA.gov for more information.
5. What kind of identification do I need to open an account?
These are specific to the financial institution’s policies.
6. I went to a participating bank branch and had trouble with opening an account.
If you come across issues with opening a certified account, please email to BankOn@AtlantaGA.gov.
7. How can I find financial education classes?
Please check our online calendar for classes, workshops and events. The resource tab has a plethora of additional information for your benefit.
8. How do I open an account?
- Choose a Bank On Atlanta Financial partner that best fits your needs.
- Call the financial institution you’ve selected and ask questions about their services. If they meet your needs, schedule an appointment to open an account. Be sure to ask them what documentation you need to open an account.
- Before signing for your new account, read all the terms and conditions. If there’s something you don’t understand, ask the representative questions.
- Open your account and start saving money!