More than half of the nation’s banks...

More than half of the nation’s banks are currently offering low cost “basic bank accounts” to the general public, according to results of a recent survey by the American Bankers Assn. The survey found that 52% of all banks and seven in 10 large banks (assets of $1 billion or more) offer basic bank accounts, reflecting a continuing trend toward greater availability of such accounts. An additional 6% of all banks said they plan to start offering these accounts in the near future. Basic bank accounts are designed to meet the needs of low-income consumers, and provide limited banking services at no or low cost. These accounts are also frequently used by senior citizens, students and retirees.