According to Serebii, it was officially announced PokeBank will be available for download on December 27th along with PokeTransporter. As long as it's downloaded before February 1st, the first 30 days are free. Also, items cannot be transferred over, and will be sent back into the bag on the respective game you're transferring from. The annual subscription fee for North America is $4.99; 500 Yen in Japan, and an unannounced fee for Europe.
Playing: Fire Emblem Awakening, Pokemon White 2, Bioshock Infinite I believe in everlasting life in Heaven.