Press release
Washington Trust Launches Simply Free Account for Banking Without Overdraft Fees
Nationally Certified by Cities for Financial Empowerment Fund and Meets "Bank On" Standards WESTERLY, R.I., March 1, 2023 /PRNewswire/ -- The Washington Trust
About this update from Washington Trust Bancorp, Inc.
[{"type":"text","content":"Nationally Certified by Cities for Financial Empowerment Fund and Meets \"Bank On\" Standards\nWESTERLY, R.I., March 1, 2023 /PRNewswire/ -- The Washington Trust Company, the nation's oldest community bank and one of the Northeast's premier financial services companies, today announced the launch of Simply Free, an account designed to safeguard retail banking customers against unnecessary overdraft fees and help them achieve economic empowerment. Simply Free offers the same safety and convenience features, including debit card transactions, mobile banking, and bill payment, as other Washington Trust checking accounts but without overdraft fees and no monthly fee or minimum balance requirement. Simply Free has officially been certified by the national nonprofit Cities for Financial Empowerment Fund (CFE Fund) for meeting the Bank On National Account Standards for safe and affordable consumer transaction accounts. Bank On-certified accounts promote financial inclusion by identifying 25 critical product features to ensure that everyone has access to accounts that meet their needs.\n\n \n \n \n \n \n \n\n \n\"Washington Trust has always worked closely with our customers to ensure they have the appropriate checking account for their individual needs, and to help them avoid overdraft fees whenever possible,\" said Edward O. \"Ned\" Handy III, Washington Trust Chairman & CEO. \"In these challenging economic times, it's more important than ever to help customers manage their finances and achieve financial wellness—the Simply Free account is our proactive solution.\"\nKey features of Washington Trust's Simply Free account include:\nCheckless accountNo overdraft fees *payees or merchants may still charge a fee.No monthly feeNo minimum balance requirementDebit cardOnline, mobile, and text banking\"As a community bank, Washington Trust cares deeply about our customers and believes financial literacy is key to economic empowerment,\" said Debra A. Gormley, Executive Vice President, Chief Retail Banking Officer. \"We offer a full line of financial products, personal service, and money management tools through our Financial Wellness Center to help them achieve their goals.\"\nFor anyone who may be curious about money management, Washington Trust's Financial Wellness Center is a great place to find everything including best practice articles, c...