Retail Banks in Illinois

Guide to Retail Banks in Illinois

How to get the most from Illinois retail banking
By Shannon Ambroson

Illinois retail banks use small branches of larger commercial banks to give you local, small town service with competitive resources. Whether for your business or your personal funds, consider retail banks to help you with savings, checking, investing, loans and other financial needs.

Illinois retail banking companies deal directly with the consumer rather than with corporations or other banks. The banks often become part of the community, donating time and money for local events and charities.

Use IL retail banks for your personal or business accounts to:

1. Work with a personal banker to decide which services are best for you. IL retail banks know the local market and understand your specific needs.

2. Take advantage of competitive interest rates, low fees and account packages.

3. Apply for a business or personal loan to buy the things you need to start or continue your business or home projects.

4. Use ATMs all over Illinois and visit banks throughout the state or the country. Retail banks in IL look and feel the same at every branch.

Action Steps

The best contacts and resources to help you get it done

Look locally for Illinois retail banking services in your community Find retail banks in Illinois areas near your business or home. Ask friends or colleagues which banks they recommend or begin looking for banks that offer specific services beyond everyday checking and savings accounts.

I recommend:  Consider Illinois retail banks like National City and Bank & Trust Company for business banking or personal checking and savings. Both companies have numerous banking locations in Illinois for your convenience.

Contact a personal banker to discuss retail banking in Illinois Fill out an online form or application or make an appointment to talk to a personal banker to sign up for the accounts and services you need. Ask about special rates for non-profit organizations, students or small businesses and begin comparing rates, fees and personal relationships between Illinois retail banks.

I recommend:  Both Wells Fargo and Bank of America are national companies with branches all over the United States. Contact banks by phone 24/7 or speak with online representatives about filling out applications for specific services.

Adjust your accounts to get exactly what you need from retail banking in IL Checking and savings accounts are fairly standard from bank to bank, but you can tailor your services with retail banking in Illinois to get exactly what you need. Look at extra services like direct deposit and payroll services.

I recommend:  Look at banks like Midwest Bank of Western Illinois for assistance in Illinois agribusiness. US Bank also offers employee services such as health savings accounts, payroll and workplace banking. Fifth Third Bank gives you access to merchant services such as credit card acceptance and gift cards.

Use online banking when you can't get to an Illinois retail bank location Manage your accounts after normal business hours with online banking. Retail banking services in IL allow you to do your banking no matter where you travel--you can check account funds, transfer funds, even deposit checks--all from your laptop.

I recommend:  Find retail banks in Illinois such as Wachovia, Washington Mutual and Farmers State Bank to discuss online banking services. Most Illinois state banks offer Internet banking as a free convenience for all customers so take advantage of the ease in managing your business or personal accounts.

Tips & Tactics

Helpful advice for making the most of this Guide

• Compare rates to find the best retail banks in Illinois and to choose the best option for your specific needs.
• Consider employee investment programs and services offered with IL retail banking to give staff a chance to plan and save for the future.