The .BANK TLD (top-level domain) operated by the American Bankers Association (ABA) and the technology policy division of the Financial Services Roundtable (BITS) will soon open for verified members of the banking community. A thorough vetting process and heightened security requirements could make .BANK websites the most secure Internet locations to conduct online banking in the future. But allowing a .BANK website bearing your bank's brand to fall into the wrong hands could damage your customers' confidence, dilute your brand and weaken your trademark.

The following types of businesses are eligible to apply for an approval to register a .BANK domain name:

  • National, state, regional and provincial banks chartered and supervised by a government regulatory authority
  • Savings associations chartered and supervised by a government regulatory authority
  • Associations composed of national, state, regional and provincial banks
  • Service providers principally owned by banks or savings associations identified above

The Sunrise Period is a priority window of 30-days in which only eligible members of the banking community can register their trademarks with the ICANN's Clearinghouse so that they can ultimately be first in line for the .BANK domain registration. The Sunrise Period for the new .BANK top level domain names is estimated to open May 2015. Due to additional security measures of the .BANK domain name, only eligible members of the banking community are able to register for .BANK domain names. In order to take advantage of the .BANK's Sunrise Period, interested and eligible financial institutions should review their trademark portfolios and register important trademarks with the relevant trademark offices and the Clearinghouse. Such eligible members include mid-size and smaller banks. The size of the financial institution is irrelevant for .BANK domain name purposes. After the Sunrise Period, any member of the banking community can register a .BANK domain name on a first-come, first-serve basis. Given relatively descriptive and dilute trademarks used by banks, the high relative cost of registrations and an untested market appetite for using .BANK domain names, financial institutions need to carefully consider their branding strategies to distinguish their domain names from other banks.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.