Businesses have as many different needs when it comes to banking in MA, as the banks in Massachusetts have to offer. The key is narrowing down the selection to a Massachusetts bank that fits your business' banking needs.

Massachusetts banks offer a variety of services including: online banking, portfolio management, checking, savings and lending. No matter what your company's needs are, commercial banking in Massachusetts can be tailored to your needs. To find the perfect Massachusetts bank for your company you need to:

1. Consider if local banks in Massachusetts or a larger commercial Massachusetts bank would suit your needs better.

2. Pick a bank that is larger than you are. If you tend to travel extensively or have locations nationally, then you will want to choose one of the banks in MA found nationally that conforms to those needs.

3. Examine the services offered by Massachusetts commercial banks. Insure that those services can grow with your business. Online banking, payroll services and portfolio management are only a few that can be valuable tools with banks in MA.

Action Steps
The best contacts and resources to help you get it done

Pick the right size of Massachusetts banks

Often smaller local banks in Massachusetts offer a better level of personalized service to its customers. They are small enough to know their customers and anticipate their needs.

I recommend: Massachusetts local banks such as Boston Private Bank & Trust Company offer commercial and industrial lending plus a wide variety of online services that include online banking for business and online investment management. Citizens Bank of Massachusetts offers small business solutions and Business Green Checking which is a free business checking account targeted at customers with less than 200 transactions per month.

Match your business size to Massachusetts banking

Many Massachusetts commercial banks do business in other states. If you do business out of state often, or if you have other locations in other states, this may be the best choice for you.

I recommend: Work with Bank of America. This institution offers both small business solutions and corporate banking in Massachusetts. They have branches nationwide so that you are never too far from your banking home.

Choose a Massachusetts bank that puts service first

Whether your main service need now is online banking or payroll services, it is best to insure that the Massachusetts bank that you choose offers a wide variety. As your business grows so will you need for a wide variety of services.

I recommend: Search a comprehensive database for a Massachusetts bank that services your area and the area in which your business plans to expand. Eastern Bank offers a wide variety of locations plus 24 hour banking, business deposit services, credit cards, lending, investment services and insurance.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Make sure that you check the fees related to each service. Sometimes the cost of the service can outweigh its usefulness.
• •  By consolidating all of your business banking in Massachusetts in one institution you will have the ease and convenience of one stop banking.