Basic Banking for Massachusetts | Massachusetts Community and Banking Council

Bank Name: *

Print bank name exactly as it should appear on the list of participating banks

Check all items to confirm that your bank’s accounts meet the Basic Banking for Massachusetts guidelines.

Basic Checking Account

The account requires a deposit requirement of no more than $25.00 to open the account: *

Yes

The account requires a deposit requirement of no more than $25.00 to open the account

The account has a monthly charge of no more than $3.00 : *

Yes

(Note: If account is free, check “yes”)

The account provides for at least 15 free withdrawals, including at least eight (8) checks, per month : *

Yes

The account imposes a fee for each withdrawal over the minimum number of free withdrawals of no more than $1.00 : *

Yes

(Note: If account is free, check “yes”)

Basic Savings Account

The account has a deposit requirement of no more than $10.00 to open the account : *

Yes

The account has a monthly charge of no more than $1.00 : *

Yes

(Note: If account is free, check”yes”)

The account has a minimum balance requirement of no more than $10.00 to avoid monthly service charges: *

Yes

(Note: If account is free, check “yes”)

The account pays interest on all savings balances of $10.00 or more: *

Yes

Note: Basic Banking accounts cannot be conditional, e.g. limited to those who open both a checking and savings account, to those with Direct Deposit and/or to those meeting income or other eligibility requirements.

Recommended Procedures

Under Basic Banking for Massachusetts, it is expected that participating banks will use their customary account opening procedures. However, banks are strongly encouraged to exercise flexibility, such as accepting alternative forms of identification and residency.

We accept alternative forms of identification and residency to open basic checking and/or savings accounts: *

Yes

We fully disclose all services counted as a checking account withdrawal : *

Yes

Both the basic checking and basic savings accounts can only be closed for the same reasons other accounts are closed : *

Yes

Persons with a basic checking or basic savings accounts are not limited exclusively to ATMs: *

Yes

(or any other form of non-teller related delivery)

Review

I have reviewed the guidelines for Basic Banking for Massachusetts and have indicated above that our bank’s accounts meet the stated guidelines.

Name: *

Title: *

Bank: *

Address: *

City: *

State: *

Zip Code: *

Email: *

Phone: *

Future Communications

Future communications should be sent to (if different from name above):

Name:

Title:

Bank:

Address:

City:

State:

Zip Code:

Phone:

Email: