As part of its ongoing efforts to expand financial inclusion, the Federal Deposit Insurance Corporation’s (FDIC) #GetBanked campaign encourages consumers to consider opening a checking account that can result in access to safer and lower-cost financial products.
The website has helpful resources, such as the top reasons to #GetBanked and a checklist to help consumers choose the best type of account for their needs. Consumers are directed to FDIC partners, including the Independent Community Bankers of America, where they can open an account online or at a local branch.
The #GetBanked initiative began at the onset of the pandemic when the FDIC worked with the IRS and other partners to inform consumers about how to open a bank account online and to facilitate the safe and timely distribution of economic impact payments. Having a bank account allows individuals to receive tax refunds and stimulus funds more quickly, via direct deposit, which will continue to be important as Child Tax Credit payments begin in July.
While the number of unbanked households is the lowest since the FDIC began recording this data, more than 7 million U.S. households remain unbanked today.
Offering affordable and sustainable accounts may allow your bank to cultivate and grow successful relationships with new customers!
Help promote the importance of having a banking relationship by following FDIC on social media @FDICgov and use #GetBanked.
