The bank currently operates around 15 branches and also offers a wide range of ATMs locally. However, Iowa and Minnesota aren’t the only states in which it functions. Specifically, MidWestOne operates 44 brick-and-mortar locations in Iowa, Minnesota, Wisconsin, Florida and Colorado.
Best Banks and Credit Unions in Minnesota
Bank customers have access to over 3,800 branches and close to 15,000 ATMs across the United States and abroad. Bancorp, provides investment, banking, loan, and payment services to government entities, individuals, and businesses. Bank customers have access to over 2,000 branches and almost thousands of ATMs across several states. Bank’s physical locations, you can perform all your banking through the mobile app.
Oxygen claims to be fee-free from top to bottom but does specify that out-of-network and international withdrawals may be subject to a charge. You’ll never have to worry about paying for ACH transfers or keeping your account open. U.S Bank has earned its spot among most small business owners because their robust banking service is designed for helping business owners scale and manage their business over time. Those willing to pay can access a savings account with 1.5% APY, but you’ll need at least $34,000 in your account at all times to offset the monthly cost.
Best Low-Cost & High-Yield Checking Accounts: Bridgewater Bank
Without the cost of maintaining branches, online banks often provide higher interest rates, no service fees, and lower balance requirements. Ally offers a user-friendly online banking platform with handy tools for easy money management. With a few taps, you can save for future goals by organizing your funds into buckets or enhance your savings with automatic recurring transfers. Bank of America is an FDIC-insured multinational, full-service bank headquartered in Charlotte, North Carolina. It offers banking services in all 50 states and has multiple brick-and-mortar branches in Minnesota.
There’s also a budget planning feature to set aside funds for a large purchase and credit monitoring tools to protect your credit health. You can do away with this charge by maintaining a $2,000 daily balance, and making deposits through Chase QuickAccept, or Chase Ink Business Card purchases. There is a cost for transactions after your first 20, and you’ll want to avoid costly wire transfers if possible. Axos Bank Basic Business Checking does not charge a monthly maintenance fee or impose requirements on keeping your account open.
Our Methodology For Reviewing The Best Banks For Small Businesses In Minnesota
However, you’ll earn at higher rates with its Interest Checking and Bridgewater Investor accounts. Although the Interest Checking account requires a higher minimum deposit than its most basic checking account, you’ll be able to snag better rates. Ally does not operate any physical locations, which makes its online and mobile banking platforms incredibly important.
The details on this page have not been reviewed or provided by the bank. Your bank significantly impacts your daily life, particularly in terms of convenience and service. But choosing one doesn’t have to be hard—discover your ideal bank below. The revenue these partnerships generate gives us the opportunity to pay our great team of writers for their work, as well as continue to improve the website and its content.
Huntington Bank
With a $1,500 average balance or $1,000 in monthly direct deposits, you can avoid the $6.95 monthly fee. The account provides exclusive benefits and pricing discounts with Smart Rewards® and three options for overdraft protection. In addition to standard banking procedures, you can use the Chase mobile app to lock or unlock your credit card should you misplace it.
- Bank customers have access to over 2,000 branches and almost thousands of ATMs across several states.
- Citizens Bank Minnesota is a local community bank headquartered in New Ulm, Minnesota.
- Bluevine is our best overall bank for small business owners because they have just about every banking service small business owners will need.
- The account provides exclusive benefits and pricing discounts with Smart Rewards® and three options for overdraft protection.
- Bank of America also offers credit cards, small business and corporate banking products.
- But, with so many great options, choosing the right one can feel overwhelming.
They have fewer branches than national banks but offer more personalized services. Make a cumulative new money deposit into the checking account of at least $25,000 or more within 90 days of account opening. Alternatively, if you’re after more features, the Balanced Checking account is a great choice, offering perks like credit monitoring and overdraft protection.
- You don’t need to keep a minimum balance with Capital One to keep your account open.
- However, you’ll earn at higher rates with its Interest Checking and Bridgewater Investor accounts.
- In addition to their convenient banking services, Chase Bank has lots of gifts to help small business owners build and scale their businesses.
- Bank maintains a noticeably widespread physical presence in America.
Money Market Account
We do not sell specific rankings on any of our “best of” posts or take money in exchange for a positive review. The U.S. Bank Smartly® Checking account earns variable interest and comes with a wealth of benefits to help you manage, move, and spend your money wisely. If you live in the twin cities of Minneapolis–Saint Paul, you have more brick-and-mortar branches to choose from than in other Minnesota cities. However, the state is served by financial institutions across the board. Minnesota is the 12th largest state in the United States, home to over 5.7 million residents.
The prospect of earning interest on your checking balance is likely enticing to many, as your rate could jump as high as 0.25%. To be specific, accounts with a minimum daily balance at or above $15,000 get that APY, while accounts that don’t reach that mark are handed a 0.10% APY. For everyday accounts, Bremer has a couple of checking options to meet your needs. If you want something simple, consider Bremer Select Banking which requires a $100 minimum deposit and has a $3 monthly fee.
Their mobile banking app includes a virtual banking assistant, budgeting tools, a home equity calculator, and mobile check deposit features. Bank of America customers also have access to Zelle for instant payments, bill pay, and loan and home equity calculators. Bank of America also offers credit cards, small business and corporate banking products. Oxygen Bank has no minimum balance requirements for its checking and savings accounts.
Best Banks in Minnesota for 2025
However, they have membership requirements and may offer fewer services than traditional banks. Despite not having physical branches, you can easily access your money at 75,000+ no-fee Allpoint and MoneyPass ATMs nationwide, ensuring your funds are always within reach. This offer is only available to applicants in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin. $400 will be deposited to your account within 14 business days after meeting requirements. Set up and receive qualifying direct deposits totaling $500 or more within 90 days of account opening.
But, with so many great options, choosing the right one can feel overwhelming. U.S. Bank is headquartered in Minneapolis, Minnesota, and offers its services to customers across the West and Midwest. Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area. They also offer various lines of credit cards including Business, Secured, Low-interest, Cashback, and General Travel credit cards. Capital One’s business accounts come with a $15 monthly fee that can be hefty for a small business.
This offer is only available to applicants residing in Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, West Virginia or Wisconsin. $600 will be deposited to your account within 14 business days after meeting requirements. To find the best banks in Minnesota, we looked at factors like account options, interest rates, and branch accessibility. Bank Business Essentials, Silver, or Platinum Business Checking account. A $100 minimum deposit is required to open one of the referenced accounts. Beyond its stunning lakes, Minnesota is also home to numerous banks and credit unions, both large and small.
Monthly feesSome banks (especially traditional banks) charge a monthly fee unless you maintain a certain minimum balance or meet other personal and business banking twin cities criteria. This doesn’t have to be a dealbreaker, as long as you can easily meet the requirements. Meanwhile, if your goal is to grow your savings, consider the High Yield Savings account. It offers a high APY with no monthly fees and requires a minimum deposit of just $100. Alerus is one of the largest banks in the Twin Cities as ranked by total deposits.