Minnesota consumer banks, like financial institutions in other states, are a combination of regional, community and national chains, but Minnesota differs from its neighbors because regional banks make up a larger portion of the total banking outlets there. Although smaller regional chains, like Western and U.S. Bank, dot the landscape, there are only a few large national chain locations for retail banking in Minnesota.
When choosing a Minnesota retail banking operation, compare the usual attributes like interest rates and convenience, number of ATMs or national and international services if your business needs them. Consider the following points as well:
1. Some consumer banks in Minnesota offer payroll processing, health savings accounts and other services for small employers.
2. Only a few mega banks, like Wells Fargo, operate in Minnesota.
3. A few regional banking mergers recently changed the Minnesota retail banking scene.
Action Steps
The best contacts and resources to help you get it done
Choose trusted national names for banking retail in Minnesota
Minnesota retail banking companies consist mostly of large regional chains that provide service to Minnesotans and people in neighboring states.
I recommend: Find
Wells Fargo branches throughout the state for small business and commercial needs to enjoy all the merchant, payroll and employee services of a national chain in Minnesota. Other smaller regional and national consumer banks in Minnesota include
U.S. Bank, with its quick credit loans of up to $100,000 and equipment and agricultural loan programs.
Locate retail banks in Minnesota with a regional focus
Minnesota retail banks cater to the local agribusiness climate, as well as to businesses in Minneapolis-St. Pail and other cities with a national reach.
I recommend: Choose popular Minnesota retail banks like
TCF, which offers the usual lines of credit and online business banking as well as payroll direct deposit for employees and workers' compensation and small business insurance. Check out
Bremer Bank, one of the Minnesota consumer banks that offers a mix of small business, commercial and merchant services with five different types of "eBiz" programs.
Focus on retail banks in Minnesota with a community slant
Whether you live in, or do business in, a small community or suburb, consider a Minnesota retail bank that caters to your needs, but offers all the business options of a large chain bank.
I recommend: Take advantage of the complete business and loan services offered by
Home Federal, including cash management and seasonal analysis of accounts. Use
Guaranty Bank for its employee privilege program and treasury, tax and loan program for small businesses.
Tips & Tactics
Helpful advice for making the most of this Guide
- When looking for Minnesota retail banks, be aware that large chains don't have the presence here that they do in other states, so consult with your business planner before opening a Minnesota based bank account to ensure the financial institution you choose will cover any international services you may need as your business grows.
The official source of Retail Banks in Minnesota is
the Retail Banks in Minnesota page at Business.com
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