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What is a Bank On account?
Short answer
A low-cost checking account that meets national standards, like low or no monthly fees and no overdraft fees.
See every step in 1 minuteOpening a bank account when you’re new to the US
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Official sources
- FDIC: opening a bank accountfdic.gov
- NCUA: find a credit unionncua.gov
- CFPB: sending money abroadconsumerfinance.gov