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Commonwealth National Bank

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About

Commonwealth National Bank is a commercial bank headquartered in Mobile, Alabama. It was founded in 1976 and offers various banking services to individuals, businesses, and communities. These services include checking and savings accounts, loans, mortgages, online banking, and mobile banking.

The bank is committed to providing financial solutions to its customers and contributing to the economic growth of the communities it serves. It aims to create a positive impact by providing equal access to financial services, supporting small businesses, and promoting financial literacy.

Key Features

Commonwealth National Bank is a commercial bank that offers a range of banking services to individuals, businesses, and communities. Some of the key features of the bank include:

  1. Personal and business checking accounts;
  2. Savings accounts, money market accounts, and certificates of deposit;
  3. Personal and business loans, including auto loans and mortgages;
  4. Online and mobile banking services, including bill pay, mobile check deposit, and account alerts;
  5. ATM services;
  6. Merchant services for businesses;
  7. Treasury management services, including wire transfers and ACH payments;
  8. Wealth management and investment services, including retirement planning and investment management.

Please note that these features are not exhaustive and may vary depending on the specific products and services offered by Commonwealth National Bank. For more information, you can visit their website or contact their customer service.

Requirements

To open an account with Commonwealth National Bank, you will typically need to provide the following:

  1. Personal Identification. You will need to present a government-issued photo ID such as a driver's license, passport, or state ID.
  2. Personal Information. You will need to provide your full name, date of birth, Social Security number, and contact information such as your address and phone number.
  3. Employment Information. You may need to provide information about your employment, including your employer's name, address, and phone number.
  4. Deposit. You will typically need to make an initial deposit to fund your account. The amount required may vary depending on the type of account you are opening.
  5. Business Documentation (if Opening a Business Account). If you are opening a business account, you may need to provide documentation such as your business license, articles of incorporation, and tax identification number.

Please note that these requirements may vary depending on the specific account you are opening and the policies of Commonwealth National Bank. It's always best to check their website or contact their customer service to confirm the requirements and any additional documentation needed.

Access on the Go

Commonwealth National Bank offers mobile banking services that allow customers to access their accounts on the go. With the bank’s mobile app, you can perform various banking activities from your smartphone or tablet, such as:

  1. Check account balances.
  2. View transaction history.
  3. Transfer funds between accounts.
  4. Deposit checks remotely using mobile check deposit.
  5. Pay bills and schedule payments.
  6. Find ATMs and bank locations.
  7. Send and receive money with Zelle®.
  8. Set up account alerts to monitor your account activity.

To access mobile banking services, you will need to download the Commonwealth National Bank mobile app from the App Store or Google Play Store and enroll in mobile banking. You can then log in using your online banking credentials to access your accounts on the go. The mobile app is free to download and use, but data and message rates may apply.

Products and Services

Commonwealth National Bank Alabama offers a range of banking products and services for individuals, businesses, and communities. Here are some of the products and services they offer, based on their website:

  1. Personal checking accounts;
  2. Savings accounts, money market accounts, and certificates of deposit (CDs);
  3. Loans, including auto loans, personal loans, and home equity loans;
  4. Mortgages, including fixed-rate and adjustable-rate mortgages, FHA and VA loans, and construction loans;
  5. Credit cards, including personal and business credit cards;
  6. Online and mobile banking services, including bill pay, mobile check deposit, and account alerts;
  7. Business banking products and services, including business checking accounts, business loans, and merchant services;
  8. Treasury management services, including ACH payments, wire transfers, and remote deposit capture;
  9. Wealth management and investment services, including retirement planning, investment management, and trust services.

Please note that these products and services may vary depending on the specific branch of Commonwealth National Bank Alabama and the policies of the bank. For more information, you can visit their website or contact their customer service.

Which associations does Commonwealth National Bank belong to?

Commonwealth National Bank Alabama is a member of various associations in the banking industry. Some of the associations that Commonwealth National Bank belongs to include:

Please note that this list is not exhaustive and Commonwealth National Bank may belong to other associations or organizations. For more information, you can visit their website or contact their customer service.

Commonwealth National Bank

FAQ

Who owns Commonwealth National Bank?

According to the Federal Reserve System's National Information Center, Commonwealth National Bank is a privately held bank, and it is not publicly traded. The bank is owned by Commonwealth Bancshares, Inc., which is a holding company headquartered in Mobile, Alabama. Commonwealth Bancshares, Inc. is also a privately held company and is not traded on any public stock exchange. The exact ownership structure of Commonwealth Bancshares, Inc. is not publicly disclosed, as it is a private company.

Is Commonwealth National Bank a good bank?

There are several factors you may want to consider when evaluating whether Commonwealth National Bank is a good bank for your needs, including:

  1. Reputation. You may want to research the bank's reputation and history of customer satisfaction by reading reviews, checking ratings from third-party organizations, and evaluating any past regulatory actions or legal disputes.
  2. Products and Services. You may want to evaluate the bank's products and services to determine if they meet your needs. Consider the range of offerings, interest rates, fees, and other terms and conditions.
  3. Convenience. You may want to consider the bank's accessibility, such as the number of branches and ATMs available, the quality of the mobile and online banking services, and any other factors that may impact your ability to access your accounts and manage your money.
  4. Financial Stability. You may want to evaluate the bank's financial stability, including its assets, liabilities, capital ratios, and other indicators of financial health.

Ultimately, the decision of whether Commonwealth National Bank is a good bank for you will depend on your individual circumstances and preferences. It may be helpful to do some research and compare Commonwealth National Bank to other banks to determine which one best meets your needs.

Is Commonwealth National Bank hard to get approved for?

The approval process for any banking product or service from Commonwealth National Bank depends on several factors, including your credit score, income, employment history, and other financial information. Therefore, it is difficult to say whether the bank is hard to get approved for without knowing more about your specific circumstances.

In general, banks have different lending criteria, and some may be more strict than others. Commonwealth National Bank may have specific requirements for its products and services, and you may need to meet those requirements to be approved. It is always a good idea to review the bank's eligibility requirements, as well as the terms and conditions of any products or services you are interested in, before applying.

If you are concerned about your ability to be approved for a product or service from Commonwealth National Bank, you may want to speak with a representative from the bank to discuss your options and learn more about what you can do to improve your chances of being approved.

Commonwealth National Bank disputes number

If you need to dispute a transaction or report a fraudulent activity on your Commonwealth National Bank account, you can call the bank's customer service at 1-251-476-5938 or 1-800-383-8000 to report a stolen/lost ATM card. A representative will be able to assist you with your dispute, report or fraud report.

You may also find additional contact information for the bank's various departments, such as commercial lending, mortgage lending, and treasury management, on their website or by contacting their customer service.

Company documents

Privacy

Here at Commonwealth, we understand, empathize, and know firsthand the unique challenges and banking needs of local businesses and consumers. As a locally owned and managed financial institution and the only Black-owned bank in our region, Commonwealth only thrives when you do.

© Commonwealth National Bank
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