What is KBON?

The Kentucky Bank on Network is a group of organizations committed to increasing account access for individuals and businesses.

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Open an affordable bank or credit union account online now so you can deposit and manage your money faster and more safely. There are dozens of Bank On certified accounts available across the country, with 31 available to open online; for other Bank On certified account options near you, visit one of these Kentucky banks or credit unions:

Woodforest National Bank, WBank Account

December 13, 2022

More than 14 million Bank On-certified accounts have been opened to date across this year’s 28 reporting institutions, a 67% increase from the previous reporting year. Of those, over 5.8 million accounts were open and active in 2021; Bank On accounts have been opened in more than 35,000 ZIP codes, or 85% of all U.S. ZIP codes.
Nearly 110 million debit transactions were processed per month for Bank On account holders. That’s an average of over 28 debit transactions per account holder per month creating a total monthly average of over $4.4 billion in debit transactions. Debit transactions can help account holders avoid fees and service charges from credit cards and help them stay accountable with their spending.
More than 12,000 new Bank On-certified accounts were opened at community financial institutions, a roughly 50% increase over the 8,000 new Bank On account openings in 2020.
Account holders continue to engage services provided by Bank On-certified accounts. Over $82 billion was deposited into these accounts in 2021 for an average of 6.5 deposits per month, and 36% of account holders used direct deposit. The average monthly balance per account increased substantially to $1,072, and 83% of account holders were digitally active.
Due to the nature of the data collection and limits on the data that some financial institutions could provide, a year-to-year comparison of all data points is not applicable.