Commerce Bank

A New Jersey-based banking entity, Commerce Bank is among the fastest growing retail banking service provider in the United States. Its holding company Commerce Bancorp is a public corporation that trades its stocks in New York Stock Exchange. It has a ticker symbol of CBH.

The bank holding corporation provides other financial services aside from banking. Insurance, investment banking and brokerage services are other lines of financial services of the financial firm. It provides its financial services through its subsidiaries. These can include Commerce Bank; Commerce Capital Market and Commerce Bank Insurance Services.

Retail banking is the core business of Commerce Bank since its founding in 1973 in Marlton, New Jersey. The firm was established by Vernon Hill, franchise owner of a fast-food restaurant. The bank recognized itself as a retailer than a banker and instead calls its branch locations as stores or convenient stores. Being a retail merchant rather than a banker is the philosophy of Commerce Bank.

The bank can provide various banking products and services that can include: checking and savings deposit accounts; certificates of deposits; education loans; personal loans and lines; residential mortgages; auto, boat and manufactured home loans; and home equity loans and lines.

Moreover, the bank can provide Free Visa Check Card and Visa Platinum credit card. The check card is a debit card that can also be used for ATM cash withdrawals. The Commerce Bank cards can be used for any types of purchases as long as VISA card is accepted. These lines of products and services can be provided by the bank for its personal banking clients.

Aside from personal banking, Commerce Bank can cater to different types of financial services and banking products in the management of finances of businesses. Business clients can choose from the following types of products and services: loans and credit lines, cash management, retirement plans and convenient banking services. It can also give out Free Business check card as well as Commerce bank credit card for business customers.

Moreover, Commerce Bank can give special financial services for different types of entities. It can also include in its offers internet banking for its personal banking and business banking clients. Commerceonline.com is Commerce Bank online banking site that can cater to different types of transactions. Personal clients can do banking transaction using the Banking LogOn while business clients can make different types of transactions by availing of Banking LogOn, Treasury Direct and Rapid Deposit. These e-products offered by Commerce Bank are options for business clients who have availed of different types of products and services from the bank.

Other types of financial services linked to Commerce Bank can be provided by its other affiliates, Commerce Capital Market and Commerce Bank Insurance services for investment banking and insurance services.

Commerce bank currently has 450 branches in various states in America. Commerce bank locations can be found in the key areas of New Jersey, Connecticut, Delaware, Virginia, Maryland, Southeastern Florida, New York and Washington, DC.

The bank looks more in retail branch banking and has plans to open up more stores in key areas of the United States. It has made an aggressive goal to expand its operations to over 800 offices and enhance its assets to over a hundred billion dollars by the year 2011.

The bank’s position in the financial industry and its rapid growth can be attributed to its business practices in which some are untypical to a bank. Commerce bank hours can be different from other banks and its bank branches can open for 7 days. Aside from the internet banking that could enable clients to do banking 24/7, clients can also use the phone to transact with the bank.

Apart from its banking hours, Commerce Bank attributes his success to some of its hallmarked practices. The bank can give free personal checking. The online banking can give opportunities to clients to venture in stock trading using commerceonline.com.

Commerce bank’s distinctive features have provided its recognition as America’s most convenient bank.