Safe Banking: Resources for Recovery

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Every dollar counts in this crisis. Don’t spend critical time and money to access your income and benefits. There are safe, affordable checking account options that have low or no fees, no overdraft charges, and free online & mobile bill pay features. Some can be set up online and others can be opened in person via drive-through windows. 

Why try a new bank or credit union account?

Directly and Safely Deposit Funds Remotely: With a bank or credit union account, you can feel safe keeping your hard- earned money in a secure, federally-insured deposit account while continuing to remotely receive paychecks and other income, such as benefits, by direct deposit.

Pay Bills Remotely: You can pay bills remotely using free online banking services, while accessing tools for budgeting and financial management.

Avoid Surprise Fees: If you are dealing with the financial impact of the virus, it’s more important than ever that accounts do not have surprise fees – especially for overdraft, insufficient funds, and inactivity – so you can feel confident that you are in control of your money.

For the nearly 1 in 4 Coloradans who rely on check cashers, money orders and prepaid debit cards, Bank On certified accounts offered by major national banks, state and local banks, and credit unions are a great place to start. Unlike many accounts, you won’t be hit with high surprise charges or have to meet high minimum balances. They have 17 account standards to make sure consumers are protected. Below are a few links to help compare different accounts to find the low-cost, safe accounts that best meet your everyday needs. 

Finding the Right Account

Free Financial Coaching

Free financial coaches can also be a great resource to help navigate the emergency options and benefits during this crisis, help you negotiate with your lenders or make a plan that best fits your needs during this time of uncertainty. Check out: 

  • Operation HOPE (nationwide)
  • Financial Empowerment Centers (Denver Metro)
  • Call 211 outside the Denver Metro area to find your nearest financial coach or counselor who can help navigate emergency resources and financial options.

If you have additional information that should be added to the resources above, please contact Cate Blackford at blackford@bellpolicy.org.