You need to consider local banks in Minnesota to help conduct your business, but want to make the best choice for your goals. When comparing banks in Minnesota, look beyond basic checking and savings services. Your business may require more complex services from MN banks, such as credit card processing, mortgages or commercial lines of credit. When banking, Minnesota offers friendly and professional financial institutions.

To bank in Minnesota, prioritize your goals, compare options, and chose the best commercial bank in Minnesota for your needs. Ask yourself these questions.

1. Is local, personal service and first-hand knowledge of the Minnesota economy important to you? If so, smaller local banks in Minnesota are the best option.

2. Will you be doing business through the bank in states other than Minnesota? A bank with nationwide branches should be your choice.

3. What is the extent of your commercial banking needs? Find a Minnesota bank that has all the services you need.

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

Check the reach of MN banks as those in other states

If you conduct business not only in Minnesota but across multiple states, your bank must be able to service your needs in all your business locations. Larger banks in Minnesota have the convenience of branches in most major cities, which is an advantage to your expanding business, or if you travel for business.

I recommend: Wells Fargo is a reputable national bank with a strong Minnesota presence. Check out their small business or commercial services. US Bank is also a full-service bank option.

Consider Minnesota local banks for personal service

Regional banks in Minnesota provide personal service, as well as intimate knowledge of the community and the local economy. However, where they excel in customer service, they may not be able to provide the best interest rates or range of services, so be sure to ask the right questions.

I recommend: Bremer Bank has a small business focus, and regional offices in neighboring states. Another reputable local bank is First National Bank of the Lakes.

Take advantage of online services to save time and money when banking in Minnesota

Most banks in Minnesota, including local banks, provide their services online. This saves you time, money and possibly bank fees. You can check accounts, run reports or pay bills online, which will pay off in the long run.

I recommend: Wells Fargo offers online bill paying services with robust options such as spending reports, check images online and mobile phone services, to keep your business on track.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Minnesota banks charge varying fees. For example, ATM fees may be charged by some Minnesota banks, but not by others. Be sure to ask for all the fees involved in the services you need.