From the sheer volume of transactions that most Indiana business banking accounts run through every month, to the needs of a business for lines of credit and treasury management, Indiana commercial banks know that your business account requires their special attention.
While there are many local banks, Indiana also boasts quite a list of national banks in Indiana. No matter what your needs, you can find one of the Indiana banks to suit your company. It's important to have your needs and desires defined ahead of time, though, or you may become overwhelmed when trying to find your new partner in banking. Indiana, small as it may seem, does boast quite the litany of banks and you could become easily confused when looking at the various options.
When looking for a new commercial bank in Indiana, among the key points to consider are:
1. The type of Indiana bank with whom you'd prefer to work.
2. The size of your company.
3. The industry your company is in and how that relates to your banking services in Indiana.
Action Steps
The best contacts and resources to help you get it done
Determine whether you prefer to work with local or national banks in Indiana
Every company has a different way of doing business. Some companies prefer to work only with local partners, while others are open to working with whoever meets their needs. There are several Indiana local banks that can provide your business with the banking services in Indiana that it requires, but there are national banks that can do so as well.
I recommend: If you prefer to work with local banks, Fifth Third Bank offers business banking for both
small business and medium-to-large
corporations.
Choose business banking in Indiana that fits the size of your company
The type of banking Indiana businesses need varies greatly with their size. Small businesses focus more on growing their business through employee and capital acquisition, while larger corporations are looking to manage their extensive assets. So those looking for corporate banking in Indiana should likely look at different banks than those who are focusing on business banking in Indiana.
I recommend: M&I Bank offers banking services in Indiana for both
small businesses and larger
commercial entities.
Know how Indiana banks can best help you in your industry
Indiana commercial banks can handle various industries very differently. A retail or personal service business will need merchant services to help handle credit card transactions, while a company focused on large transactions will likely need to open trust and escrow accounts.
I recommend: Huntington Bank offers
merchant services for businesses who need to accept credit cards, as well as
corporate trust accounts like escrow and bondholder services.
Tips & Tactics
Helpful advice for making the most of this Guide
- When working in commercial banking in Indiana, it's imperative that you find a banking partner that you can trust. If you cannot walk into your local Indiana bank branch and speak with a representative when things are going well, you're going to have even more difficulties doing so when something isn't working the way it should.
The official source of Banks in Indiana is the Banks in Indiana page at Business.com
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