Banks in New Jersey are hot business resources because of their proximity to New York City and to many high-profile businesses in the state. Hundreds of banks in New Jersey offer small businesses and commercial accounts high quality services like loans, lines of credit and merchant accounts.

Since New Jersey retail banking covers so many types of commercial financial needs, you won’t need to look very far to find a few New Jersey retail banks to satisfy your basic needs. Keep in mind that specific services, like merchant programs, business money market accounts and international banking services, are featured by some New Jersey retail bank companies and not others.

When looking for retail banks in New Jersey, weigh the following options:

1. Use banks in New Jersey that are a part of a national chain, like Bank of America, or a large regional bank if you do a high volume of business and require employee payroll or insurance.

2. Select 1 of the many community banks in New Jersey if you are a sole proprietor or need basic small business services.

3. Some mid-sized New Jersey retail banks give you the best of both worlds, by catering to local businesses with both a personal and professional touch that New York City focused institutions lack.

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

Locate retail banks in NJ that handle high volume or international businesses

If your business needs merchant services, fraud protection, business money markets accounts, lines of credit and employees services like payroll, a national or regional chain can satisfy all your corporate needs.

I recommend: Check out retail banks in NJ like HSBC. With a host of services including free business checking, international accounts and revolving lines of credit, this bank covers most corporate needs. Contact Citibank for a Citibusiness account to receive currency services, corporate cards, term loans and other business products. Both HSBC and Citibank have branches and ATMs throughout New York and New Jersey.

Take advantage of community retail banking services in New Jersey

New Jersey claims many locally run industrial, retail, manufacturing and agricultural businesses. Likewise, there are several well-known local retail banks in New Jersey that offer customers the same services as national chains.

I recommend: Look at financial options from Union Center National Bank. Offering services in Union and Morris counties, they feature a merchant capture program for electronic deposit of funds and check scanning. For a regional bank with more locations, try PNC Bank for their many corporate, institutional and small business services.

Use New Jersey retail banking services in specific communities

If you operate your business in South or Central Jersey, closer to Philadelphia, and need to stay in that area, then conduct your retail banking in South Jersey.

I recommend: Work with Central Jersey Bank for a low minimum deposit, free telephone banking and business money market accounts. Another great option is Cape Bank, which recently partnered with Boardwalk Bancorp in Cape May county.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Consider your daily business travel plans when choosing a retail bank in New Jersey. If you spend a lot of time traveling to and from New York City, locate a bank with many ATMs and branches in New Jersey and New York City.