Retail banking in Alaska offers a wide range of services to help manage your business's financial needs. These services go above and beyond just storing your money safely. Retail banking in Alaska can often include small business loans, money transfers and consultation services.

The right retail banks in Alaska should meet all of your small business's banking requirements. This includes a reliable and knowledgeable customer service team that can give your account personalized attention.

Consider the following when selecting the right retail banking services in Alaska:

1. Pick a retail bank in Alaska that's capable of serving you now, but can keep up with your needs once you start to grow.

2. Check into the fine points, such as interest rates and account balance minimums, before you choose a business banking package.

3. Check with your accountant, lawyer, or local chamber of commerce to find out which bank they'd recommend.

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

Find out what an Alaska banking institution can offer your small businesses

When deciding on a retail bank in Alaska, be sure to ask what special services a bank can offer to its business customers. Retail banking packages can include electronic alerts on low balances, free small business consultations and business credit cards that offer rewards. Small banks tend to offer superior customer service, so your company gets manager-level attention when you need it.

I recommend: Northrim Bank and Alaska Pacific Bank provide banking services for small business owners based in Alaska.

Partner with a national chain that offers banking services in Alaska

If you plan to expand your business, you might want to consider partnering with a national retail bank. This way, you'll have better access to your Alaska retail banks' products and resources throughout the country. In contrast, local banks are very limited in the services they provide, and the number of locations they have. Just make sure you're not sacrificing customer service for convenience.

I recommend: Wachovia and Wells Fargo offer a plethora of national banking products and services to meet the needs of the small business owner.

Use online retail banking services in Alaska and never wonder what your balance is

These days, it's essential that you partner with an Alaska retail bank that offers you online access to your account. This way, you can transfer funds online, pay bills and check your balance from anywhere in the world, no matter what time it is. Some banks even let you apply for business loans online.

I recommend: Bank of America and First National Bank Alaska both offer a wide range of online banking products and services. Check with your Alaska bank to find out about free software that may enhance your online banking experience.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If possible, meet with the managers of your potential retail banks in Alaska. By doing so, you can decide whether they actually understand the needs of a growing small business.