PITTSBURGH, March 30, 2021 /PRNewswire/ — PNC Bank, N.A. is pleased to announce it is the first bank to offer two products that meet the Cities for Financial Empowerment Fund (CFE Fund)’s Bank On national certification.
Both the Foundation Checking and PNC SmartAccess® Prepaid Visa® Card accounts meet the Bank On National Account Standards developed to ensure expanded access to safe and appropriate financial products and services to the almost 36 million people in the United States who are outside of the mainstream financial system. Bank On’s 2021-2022 Standards require low cost, no overdraft, and full-functioning features.
“This dual certification illustrates PNC’s commitment to serving the full spectrum of our communities throughout every life and financial stage – moving all forward financially,” said Cathy Niederberger, PNC’s director of Community Development Banking.
“We are committed to providing banking services for customers who may not have had access to traditional checking or savings accounts in the past,” said 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.”
A hallmark of the Foundation Checking account is a money management course that is now available on mobile devices as part of the on-boarding experience. The account also offers low-balance alerts, and no overdraft or non-sufficient funds fees. A nominal $5 monthly service charge is waived for customers aged 62 or older.
Similarly, SmartAccess includes a mobile app, low-balance alerts, no overdraft fees and no fees for cashier’s checks.
“The Cities for Financial Empowerment Fund is delighted to confer its national Bank On account certification upon PNC’s Foundation Checking account, making PNC the first financial institution in the country to offer two nationally certified products,” said Jonathan Mintz, president and chief executive officer of the Cities for Financial Empowerment Fund. “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. We applaud PNC’s decision literally to double down on their commitment to offering Bank On certified accounts.”
PNC is committed to moving all forward financially and boosting the quality of life in low- and moderate-income communities. PNC has consistently earned an outstanding Community Reinvestment Act rating since those examinations began more than 40 years ago.
While the SmartAccess card and Foundation Checking are available within most PNC markets, interested individuals should check with their local branch or servicing center for more information.
PNC Bank, N.A., is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.
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SOURCE PNC Bank