Banking and financial services in Florida: State-chartered banks availability. Major national bank branches. Credit union options. Online banking services. Mobile banking apps. Mortgage lending practices. State sales tax regulations. Florida banking hours. ATM accessibility. Regional investment firms.
State-chartered banks availability
In Florida, state-chartered banks are supervised by the Office of Financial Regulation (OFR), which is responsible for licensing and regulating these banks, as well as ensuring their compliance with state laws and rules to protect the public from fraud and other violations.
Major national bank branches
City National Bank of Florida, the second-largest financial institution in the state, operates with 30 branches extending from Miami-Dade County to the greater Orlando area and is owned by the Chilean bank BCI. The bank boasts a significant presence in Broward, Palm Beach, and other Florida communities, and is recognized for its dedication to community involvement and financial stability. For more detailed information, visit the City National Bank of Florida page on Wikipedia.
Credit union options
In Florida, there are 120 credit unions offering a range of financial services, with notable options including Suncoast Credit Union, the largest in the state with over 1.1 million members, and other prominent credit unions like Achieva CU, Addition Financial, and Bay Credit Union, each serving specific regions and membership criteria. For more detailed information about these financial institutions, check out the Credit Unions In Florida page to explore their offerings and find the right fit for your financial needs.
Online banking services
In today's fast-paced world, having access to efficient and comprehensive banking services is crucial. Institutions like Florida Credit Union offer platforms such as FCU Anywhere Online and Mobile Banking, enabling users to effortlessly check balances, make transfers, and deposit checks from virtually any device. Similarly, Navy Federal provides its members with robust digital banking services that include online banking and a mobile app, making it easier than ever to manage finances, pay bills, and transfer funds with the added benefit of real-time customer support. On the other hand, One Florida Bank focuses on advanced online platforms that streamline cash flow management and offer a variety of account styles, complete with mortgage lending and Mastercard rewards, ensuring that customers have the flexibility and convenience they need. Together, these institutions highlight the importance of digital transformation in enhancing customer experience in the banking sector.
Mobile banking apps
Mobile banking has become an essential tool for managing finances effortlessly through smartphones. For instance, the First Florida Credit Union app not only allows users to access statements and make transfers, but also offers advanced security features like biometric login and card controls. Similarly, BankFlorida's mobile app provides the convenience of managing transactions, paying bills, and making deposits, with easy access via the Apple App Store and Google Play Store. FirstBank Florida also ensures a seamless experience, offering features such as viewing account balances, paying bills, and even locating nearby branches and ATMs, all from the comfort of their mobile app. These applications have significantly transformed the way users interact with their banking needs, bringing convenience and security to the forefront.
Mortgage lending practices
In Florida, mortgage lending practices are heavily regulated, with laws prohibiting practices such as prepayment penalties, balloon payments, and negative amortization in subprime loans, and requiring lenders to verify a borrower's ability to pay. The Florida Fair Lending Act also prohibits mandatory arbitration clauses and ensures borrowers have the right to rescind subprime home loans within a specified timeframe.
State sales tax regulations
In Florida, the general state sales tax rate is 6%, with exceptions such as 4% on amusement machine receipts and varying rates for other specific transactions. Additionally, many counties impose a discretionary sales surtax, which can range from 0.5% to 2.5%, and businesses must collect and remit both the state sales tax and any applicable county surtax. To learn more about specific rates and regulations, visit the Florida Department of Revenue website for comprehensive information.
Florida banking hours
In Florida, banking hours vary by institution but generally follow a Monday to Friday schedule. For example, Fifth Third Bank branches are open from 9:00 AM to 5:00 PM Monday through Thursday, and until 6:00 PM on Fridays, while being closed on Saturdays and Sundays. Similarly, Florida Capital Bank branches operate from 9:00 AM to 4:00 PM, Monday through Friday, and Floridacentral Credit Union branches are open from 8:00 AM to 5:00 PM, Monday through Friday.
ATM accessibility
In Florida, banks and financial institutions are required to ensure their ATMs comply with the Americans with Disabilities Act (ADA), including features such as braille instructions, speech output capability, and specific keyboard layouts to make them accessible to the visually impaired. Non-compliant ATMs have led to numerous lawsuits, highlighting the need for immediate assessment and compliance.
Regional investment firms
This list includes various regional investment firms in Florida, such as Cassel Salpeter & Co. in Miami, Farlie Turner & Co. in Fort Lauderdale, and Hyde Park Capital Partners in Tampa. Each firm is described with their senior executives and locations detailed, providing a comprehensive overview of the state's investment banking landscape. For a more in-depth viewing, you can find additional information on the Florida Trend website, which offers a detailed chart of investment banking firms across the state.