Intro – Minnwest Bank Reviews & Ranking
AdvisoryHQ recently published its list and review of the top banking firms in Minnesota, a list that included Minnwest Bank.
Below we have highlighted some of the many reasons Minnwest Bank was selected as one of the best banking firms in Minnesota.
Click here for a detailed review of AdvisoryHQ’s selection methodology: AdvisoryHQ’s Methodology for Selecting Top Banks and Credit Unions.
Minnwest Bank Review
Minnwest Bank is a family-owned company providing banking services to communities throughout Minnesota and South Dakota. This bank in Minnesota’s primary customers are families and family-owned businesses.
They provide financial services to many small, locally owned and operated businesses such as farms, retailers, residential construction, small manufacturing, distributors, and commercial building.
Minnwest Bank has the distinction of being one of Minnesota’s largest banks with more than $1.6 billion in assets and 24 locations serving 19 communities.
This top bank in Minnesota is currently Minnesota’s second-largest agricultural bank in farm lending and is a Small Business Administration preferred lender.
Photo courtesy of: Minnwest Bank
Key Factors Leading Us to Rank This Firm as One of This Year’s Top Banking Firms
Upon completing our detailed review, Minnwest Bank was included in AdvisoryHQ’s ranking of this year’s best banking firms based on the following factors.
Minnwest Bank Review: Chip Cards
Minnwest Bank is among the growing number of banks in Minnesota that offer credit cards with chip technology. The embedded computer chip in Minnwest Bank debit cards provides customers with more security and wider international acceptance.
Having a credit card with a microchip embedded in it adds a new layer of protection against fraud. A chip-enabled card provides a stronger safeguard against unauthorized use and counterfeiting.
Chip cards are inserted into payment terminals, rather than swiped using the magnetic strip. However, the cards still have a magnetic strip for use at terminals that are not yet set up for smart chip technology.
Minnwest Bank Review: Platinum Checking
Minnwest Bank’s Platinum Checking account lives up to its name by providing a slew of great advantages to account holders who prefer to maintain higher ledger balances.
Customers who choose this fully loaded checking account enjoy many great benefits and features for a low monthly maintenance fee of $10.00 per month (waived by maintaining $25,000 daily balance across all accounts).
A Platinum Checking account at this bank in Minnesota comes with:
- Minimum opening balance of $100
- Unlimited check writing
- Interest earned at tiered rates
- Free personalized checks
- Free check images
- First-year free rental of a small safe deposit box
- Up to $10 in ATM fees refunded each month
- Free online statements
- Free cashier’s checks
Minnwest Bank Review: Flexible Business Checking Account Options
Minnwest Bank is a bank in Minnesota that has many business checking account options designed for businesses with both low and high transaction levels.
They understand that every business is different with unique financial needs and have designed their checking account packages to be unique as well.
Checking account options for businesses at this Minnesota bank are:
- Basic Business Checking: a low-cost solution for non-profits, sole proprietors, corporations, and public organizations with low monthly transactions and balances
- Business Checking: for businesses looking for low-cost checking that have higher transaction numbers and balances
- Business Checking PLUS: interest-bearing account suited for non-profits, sole proprietors, and public organizations
- Commercial Checking: for businesses that require a full range of cash management products and transaction volumes that are constantly changing
For business owners who are looking for the best rates, bid pricing is available for businesses with a large volume of transactions.
In addition to the above Minnwest Bank review, you can click on any of the links below to browse exclusive reviews of AdvisoryHQ’s top rated banking firms & credit unions:
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