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Press Release
Banking Department Publishes Retail Bank Services Survey

 February 6, 2008

New York, N.Y.: The New York State Banking Department announced today the findings of the second survey of retail bank services offered throughout the state. The survey aims to make shopping for a new bank or comparing bank products and services an easier experience.

“Deciding which financial institution is best for you is not always easy.  Banks offer many different products and services at a variety of prices and consumers need to be able to identify the products that are suitable for them,” Superintendent Richard H. Neiman said.  “We have conducted this survey for the second time to ensure New Yorkers have the information necessary to make the right decision for their personal banking needs.”

The survey is posted on the Department’s Web site at Individuals without Internet access can ask for a paper copy of the survey by calling the Department’s Consumer Helpline at 1-877-BANK-NYS.

While the analysis was conducted with a focus on assessing the availability and cost of financial services used frequently by the unbanked or immigrants, the survey results cover items that are of interest to the widest possible array of New Yorkers.

Banks were queried on the availability and cost of the following services: money orders, international and special remittances, bill payment at branches, and bi-lingual products and services. The banks were also asked to provide information on their customer identification programs (i.e. acceptance of consular and cedular cards), and the consumer reporting agency used by the bank to identify a new customer’s account credit history. Two-hundred-and-seven banks were sent the survey and 89 (43%) responded.

Information from the survey available on the Department’s Web site includes:

  • Types of services available, including detailed information on money orders, remittances, bill payment, and bi-lingual tools;
  • Fees charged to bank customers and non-customers for the use of these services;
  • Services and products that are being developed but that are not yet available; and
  • Common ID requirements for opening accounts.

The survey found the following rates of product availability among responding banks:

  • 87% offer money orders, and 52% of those offer money orders to customers only;
  • 39% offer international remittance services, and 11% of those offer remittance services to customers only;
  • 20% accept cedular or consular cards as a form of identification;
  • 43% accept individual taxpayer identification numbers as a form of identification;
  • 94% offer multi-lingual staff, services, or literature;
  • 21% offer check cashing services; and
  • 93% do an account history or credit check on new customers.

Participating banks in alphabetical order:

  • Alden State Bank
  • Amalgamated Bank
  • Amerasian Bank
  • American Community Bank
  • Asia Bank
  • Atlas Savings and Loan Association
  • Ballston Spa National Bank
  • Bank Leumi USA
  • Bank of Akron
  • Bank of Castile
  • Bank of China
  • Bank of Holland
  • Bank of Richmondville
  • Bank of Utica
  • Berkshire Bank
  • BPD Bank
  • Brooklyn Federal Savings Bank
  • Canadaigua National Bank and Trust
  • Canisteo Savings and Loan Association
  • Capital Bank and Trust Company
  • Carthage Federal Savings and Loan Association
  • Carver Federal Savings Bank
  • Cathay Bank
  • Catskill Hudson Bank
  • Cattaraugus County Bank
  • Cayuga Lake National Bank
  • Champlain National Bank
  • Chemung Canal Trust Company
  • Citizens Bank of Cape Vincent
  • City and Suburban FS
  • City National Bank of New Jersey
  • Commerce Bank
  • Community Bank of Orange County, NA
  • Community Bank, NA
  • Community Mutual Savings Bank
  • Community National Bank
  • Country Bank
  • Cross County Federal Savings Bank
  • Delaware National Bank of Delhi
  • Dime Savings Bank of Williamsburg
  • Doral Bank
  • Elmira Savings Bank, FSB
  • Emigrant Savings Bank
  • Evans National Bank
  • First Central Savings Bank
  • First National Bank of Dryden
  • First National Bank of Jeffersonville
  • Five Star Bank
  • Flatbush Federal Savings and Loan Association
  • Glens Falls National Bank and Trust Company
  • Habib American Bank
  • Hudson Valley Bank
  • JPMorgan Chase
  • Lake Shore Savings Bank
  • M&T Bank
  • North Country Savings Bank
  • North Fork Bank
  • Oneida Savings Bank
  • Orange County Trust Company
  • Park Avenue Bank
  • Pioneer Commercial Bank
  • Ponce De Leon Federal Bank
  • Putnam County Savings Bank
  • Redwood Bank
  • Rhinebeck Savings Bank
  • Ridgewood Savings Bank
  • Riverside Bank
  • Rondout Savings Bank
  • Sawyer Savings Bank
  • Shinhan Bank America
  • Signature Bank
  • Sleepy Hollow Bank
  • State Bank of Long Island
  • Steuben Trust Company
  • Suffolk County National Bank
  • Sunnyside Federal Savings and Loan Association of Irvington
  • The Bank of East Asia ( U.S.A.)
  • The Bank of East Asia, Limited
  • Tompkins Trust Company
  • Ulster Savings Bank
  • Union State Bank
  • United International Bank
  • United Orient Bank
  • Upstate National Bank
  • USA Bank
  • Victory State Bank
  • Wachovia Bank
  • Washington Mutual Bank

TheNew York State Banking Department is the regulator for all state-chartered banking institutions, virtually all of the United States offices of international banking institutions, all of the State’s mortgage brokers, mortgage bankers, check cashers, money transmitters and budget planners. The aggregate assets of the depository institutions supervised by the Banking Department are more than $1.8 trillion.

In addition to regulating banking institutions, the Banking Department is active in informing and educating all New Yorkers on banking matters. To contact the Banking Department, please call 1-877-BANK-NYS or visit our Web site at

Department of Financial Services


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