Needham Bank

Commercial bank · Needham, United States

Needham Bank is a Massachusetts savings bank founded in 1892 and now the banking subsidiary of NB Bancorp, Inc. It held USD 7.42 billion of assets and USD 6.32 billion of deposits at 30 June 2026 across 21 offices, all in Massachusetts. For businesses it offers three tiers of business checking, business savings, money market and CD accounts, an ACH origination and corporate sweep cash management package, merchant services, a business rewards credit card and commercial real estate, construction and mortgage warehouse lending. Its distinctive line is a dedicated cannabis banking division, taken over from Eastern Bank in March 2022 together with that bank's money service business accounts, which serves dispensaries, cultivators, wholesalers, testing labs and CBD businesses across the United States. Everything is in US dollars: there is no multi-currency account and no international payment product on the site.

Legal name: Needham Bank
Regulated by: FDIC (certificate 26483), Massachusetts Division of Banks
Licence confirmed: yes, on a regulator's own list
Established: 1892
Website: www.needhambank.com

Scores, 0 to 10

8.0Customer satisfaction

The Needham Bank mobile banking app scores 4.9 out of 5 from 2,504 ratings on the US App Store; the separate business banking app has only 3 ratings. · source

7.0Financial strength & stability

USD 7.42 billion of assets and USD 6.32 billion of deposits at 30 June 2026, FDIC-insured, and owned by NASDAQ-listed NB Bancorp, Inc. which publishes audited annual reports. · source

6.5United States

FDIC-insured Massachusetts charter (certificate 26483) with 21 offices, ACH origination, wires and Zelle, and three tiers of business checking, but the branch network covers only Greater Boston. · source

6.5Lowest fees

Essential Business Checking has no balance requirement and charges a flat USD 25 only after 150 transactions or USD 7,500 of monthly cash deposits. · source

6.5Best interest on business balances

Business CD specials of 3.70% and 3.75% APY as of 1 September 2026, plus a tiered business money market and a corporate sweep account. · source

6.5High-risk verticals (iGaming, cannabis, adult, forex)

Openly banks licensed cannabis operators nationwide through a dedicated division and took over Eastern Bank's money service business accounts, but publishes nothing on iGaming, adult or forex clients. · source

5.0Fintech companies that need a partner bank

Took over Eastern Bank's money service business accounts along with its cannabis banking team in March 2022, so it banks regulated MSBs, but publishes no safeguarding or BaaS offering. · source

5.0Business cards (Visa, Mastercard)

One business credit card, the NB Business Rewards Mastercard, plus a business debit card; no virtual cards or per-card spend controls are advertised. · source

4.5On-ramp: buy crypto with fiat

Evidence is thin: Needham publishes no rule on business payments to exchanges and no reports of blocked transfers were found, but its 2025 merger filing records the SEC Wells Notice over BankProv's crypto-mining loans, a history that points to caution rather than openness. · source

4.0Off-ramp: crypto to fiat in a business account

Evidence is thin: no source-of-funds process for exchange proceeds is published, and none of Needham's own SEC filings found in a full-text search mention serving crypto clients, so crypto-origin funds likely get case-by-case review. · source

3.5Cross-border payments, FX and multi-currency accounts

Every published business deposit product is in US dollars and no FX or international payment service is listed. Zero balance accounts, a threshold-driven corporate sweep, ACH origination and extended FDIC insurance, but all in one currency with no cross-border pooling. · source

3.5Fast digital onboarding

Business checking is opened by submitting an inquiry form with a US business address or calling 781-444-2100; the five-minute online application covers personal accounts only. · source

3.5Online businesses: e-commerce and SaaS

Merchant services are offered as one line in the business menu with no published collection accounts, marketplace payouts or multi-currency settlement. No API, no accounting integrations and no foreign-currency receiving account; a software company gets the same USD checking account as any local business. · source

3.5Startups & VC-backed companies

The business teams are named Small Business, Middle Market and Structured Finance; there is no startup, venture debt or innovation banking programme. · source

3.0Crypto-friendly bank

The bank publishes no digital-asset or crypto policy; its specialist division page lists cannabis, CBD and hemp businesses and says nothing about crypto or VASP clients. · source

2.0Trade, manufacturing & import-export

The commercial loan range is commercial real estate, construction, small business and mortgage warehouse lending, with no letters of credit or documentary collections. · source

2.0Foreign-owned & non-resident companies

The business account inquiry form requires a US business street address with state and ZIP code, and there is no published path for foreign-owned or non-resident companies. · source

1.0Crypto wallet and custody for a business

Needham Bank's business pages list checking, lending, treasury and cannabis banking with no crypto custody, and BankProv, which it absorbed in November 2025, had already left crypto by 2023, checked September 2026. · source

1.0Accept crypto payments

No crypto or stablecoin acceptance for merchants appears in Needham Bank's business services, checked September 2026. · source

1.0Bitcoin

No bitcoin buying, custody or transfer is offered, and BankProv's former crypto lending ended before the 2025 merger, checked September 2026. · source

1.0Ethereum

No ether trading, custody or staking is offered to any client, checked September 2026. · source

1.0Stablecoins (USDC, USDT and others)

No stablecoin accounts, payouts or tokenized deposit project appear on Needham Bank's business pages or in its SEC filings, checked September 2026. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.