The Banks in New York City’s regulatory and oversight responsibilities fall under several entities, including the Federal Reserve Bank of New York, the New York State Department of Financial Services, and the New York City Banking Commission.
NYC’s official currency is the United States Dollar (USD). Ten USD is 9.15 Euros. That is 820.80 Indian Rupees or almost 69.36 Chinese yuan.
How to choose a bank in NYC
When choosing a bank in New York City, several factors must be considered.
Reputation and stability
Choosing a good bank in New York City means finding one with a solid reputation and stability. This way, you can trust that your finances are in good hands.
Products and services
Choose a bank based on account needs. Basic accounts like savings and checking are standard, while full-service banks offer advanced options like credit cards, loans, and investments.
Size of the bank
Most NYC banks offer their services at reasonable fees. Fees vary a lot depending on the bank so that you can explore them accurately.
If you’re looking to make your money grow in a savings account or other savings vehicle, it’s essential to seek out higher interest rates to optimize your savings efforts. One strategy to accomplish this is to compare the rates multiple banks offer.
It’s essential to consider client support and your financial needs when choosing a bank. Look for a bank with helpful tools and features that fit your requirements and preferences.
Considering these factors, you can narrow your options and choose a bank that meets your financial needs.
Types of Banks in New York
In New York, there are various kinds of banks to choose from.
List of best banks in NYC
Some of the best banks in NYC are the following.
National banks in New York
Chase Bank is a national bank in NYC that offers various banking services, including accounts, loans, investments, and business solutions. They also have many branches and ATMs throughout the city.
M&T Bank is an east coast regional bank offering various financial services, including accounts, loans, credit cards, and investments. They prioritize customer service and community involvement.
Bank of America is a multinational financial institution that offers various banking and financial products and services, including checking and savings accounts, credit cards, loans, investment management, retirement planning, small business banking, and rewards programs.
TD Bank is a US national bank headquartered in Cherry Hill, New Jersey. As a chartered bank under OCC, it offers various financial services to individuals and businesses across the country under federal regulations and oversight.
JPMorgan Chase & Co is a leading US bank headquartered in NYC and the sixth-biggest globally. It offers various financial services to individuals, corporations, governments, and institutions worldwide, including asset management, investment banking, commercial banking, and treasury services.
International banks in NYC
Capital One Bank is a national bank in the United States. They provide various services, including checking accounts, credit and debit cards, loans, insurance, payment protection, phone banking, bill pay, lending, and online banking facilities.
Citi Bank is a commercial bank in NYC offering various financial services such as checking/savings accounts, credit cards, loans, small business banking, investment banking, and wealth management.
Deutsche Bank USA is a subsidiary of Deutsche Bank AG that offers financial services like investment banking, wealth management, and asset management to individuals, corporations, and institutions in the United States.
You can explore their product and services on Deutsche Bank USA, where you can find their fees.
HSBC is a multinational banking and financial services company that offers a range of products and services, including investment management, wealth planning, trust and estate planning, and tax advisory services.
Charles Schwab Bank offers an international checking account through their High Yield Investor Checking account, which has no monthly fees or minimum balance and earns interest. You can also enjoy fee-free ATM withdrawals and receive rebates for any ATM fees incurred.
How to find a cash machine in NYC
Talk to anyone who may have traveled or worked in New York. You will find that some of your friends or family know the nearest bank branches. Ask around and find opportunities among your contacts. An easy tool for doing that is any map app. Below is, for example, a Google Maps search for ‘ATMs near Brooklyn.’
Source: Forbes Advisor