Dallas, Texas
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Bank On Dallas
About Bank On Dallas

Bank on Dallas is a new initiative to provide starter bank accounts to un-banked residents of the City of Dallas. The goals of Bank on Dallas are to:

  • Increase the supply of starter bank accounts
  • Raise awareness of benefits from the use of the mainstream financial system
  • Encourage financial education, savings and asset building

The objective of “Bank on Dallas” is to generate a minimum of 25,000 new accounts over a 2 year period.

Participating banks and credit unions will allow un-banked residents to open new accounts based on the features listed below. Bank on Dallas will also have a financial education component designed to help individuals and families achieve greater financial stability. Bank on Dallas is a collaborative partnership between the City of Dallas, the Federal Deposit Insurance Corporation, the Federal Reserve Bank of Dallas, and numerous Dallas banks, credit unions, non-profit organizations, community organizations and major employers. Dallas Mayor Tom Leppert has designated City Councilman Jerry Allen to be the Chairman of the Bank on Dallas initiative.

Financial Institutions participating in Bank on Dallas have agreed to:

  • Offer a no or low cost checking account with no minimum balance requirements.
  • Accept the Matricula Card as one form of identification. A second form of identification will be requested.
  • Offer at least one additional account feature. Some examples of an additional features that could satisfy this requirement are; offer an ATM or debit card, accounts for people who have had problems in the past such as bounced checks or overdraft fees, , remittances, waiver of overdraft fees, free checks or free online banking.

 


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