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Bank On Boston

Bank On Boston connects residents with safe, affordable, reliable financial products and services that can help them save, grow, and access their money.

Many households in Boston do not have a checking or savings account. Instead, they rely on costly check-cashing and other alternative financial services. Opening a safe, affordable, non-predatory, and FDIC-insured checking or savings account is an important step toward improving financial wellness. Bank On Boston helps make that step easier. The Bank On National Account Standards help point residents to vetted accounts.

Find a Savings Account             Find A Checking Account

Why Bank On Boston

Bank On Boston is part of a national initiative that helps residents achieve economic mobility with better access to financial services at lower or no fees.

In addition to connecting residents with non-predatory financial services, Bank On Boston:

  • increases trust in financial institutions
  • raises public awareness of mainstream banking
  • expands access to financial education, and
  • connects residents to other programs of the Center for Working Families.

Approximately 10% of Boston households are unbanked. This means they do not have a checking or savings account. Twenty percent of households are underbanked. Underbanked households may have a checking or savings account but continue to use costly alternative financial services.

These financial challenges disproportionately affect low-income families in Boston and nationwide.

Boston’s Roxbury, Dorchester, and East Boston neighborhoods are in need of mainstream banking options. These neighborhoods have 57% of the City’s check-cashing locations, but only 12% of the City’s commercial bank branches.

A household with an income of $32,000 per year can spend up to $2,400 annually cashing paychecks at check-cashing locations. These are funds that could instead go to savings accounts, college savings plans, or other important financial goals.

Youth Summer Jobs Banking

The City of Boston is partnering with Metro Credit Union, M&T Bank, and Citizens Bank, to offer futureBOS youth no-fee bank Sole Ownership checking accounts. Sole Ownership means you are the owner of the account. Your parent or guardian won’t have access to your account unless you give them permission. With a bank account you can:

  • get a debit card

  • get paid faster with direct deposit

  • track your spending

  • cash or deposit checks without paying a fee 

  • build a relationship with a trusted financial institution

  • store your hard-earned money in a safe and secure place

Watch the video below to learn the benefits of banking.

Watch the video below to learn the benefits of direct deposit.

futureBOS youth can open an account with Metro Credit Union, M&T Bank, or Citizens Bank online by using the links below or in-person by visiting a branch.

Banking Partners What to know
metro credit union logo



Metro Credit Union

Metro Credit Union's Safeguard Checking is a safe and affordable option that protects you from the risk of overdraft, while helping you establish good banking habits.

Bank with Metro Credit Union

Age Range: 14+ Non-Custodial

IDs Required: Birth certificate, Social security card, Student ID, State ID, report card, OR other proof of enrollment Required to Open Account.   

Fees: NO Overdraft Fee, NO Non-sufficient Funds Fee

ATM: No fee at Metro ATMs. $2.50 for non-Metro ATMs

Insured: NCUA and MSIC Insured 

Find a location here.

m&t logo



M&T Bank: MyWay Checking Account

M&T Bank believes that community-minded banks are essential to guarantee prosperity for all. With a community bank approach, M&T Bank helps people reach their personal and business goals with banking, mortgage, loan and investment services.

Bank with M&T Bank

Age Range: 14-16 with a parent, 17+ Non-Custodial

IDs Required: A valid, government-issued photo ID, such as a driver’s license, State ID, or passport, or BOTH Birth Certificate and Social Security Card.

Fees: No Overdraft Fee, No Non-sufficient Funds Fee

ATM: No fee at M&T Bank ATMs. $3.00 for Non M&T Bank ATMs.

Insured: FDIC Insured 

Find a location here. 


citizens logo



Citizens Bank: Student Checking Account 

Citizens Bank offers a Student Checking with no monthly maintenance fee for residents under 25 and has over 100 branches and ATMs in and around Boston. 

Bank with Citizens Bank

Age Range: 14-16 with a parent, 17+ Non-Custodial

IDs Required: A valid government-issued photo ID, such as a driver’s license, State ID, or passport.

Fees: No Overdraft Fee, No Non-sufficient Funds Fee

ATM: No fee at Citizens ATMs. No fee from Citizens for using non-Citizens ATMs (Other ATMs may charge a fee of their own).

Insured: FDIC Insured 

Find a location here

Explore the Banking Access Map

Explore Bank On Boston's interactive Banking Access Map to see where financial services are located in the City of Boston.

Explore the Map

Bank On Boston Coalition

Coalition Members

The Bank On Boston Coalition brings together government agencies (city, state, and federal), financial institutions, community organizations, and direct service providers, like coaches to guide Bank On Boston. Together, the Coalition analyzes the landscape of financial services offered throughout the City and gathers resident input. It also establishes program processes and policies.

* Financial Institutions who offer Bank On National Account Standards Products.

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