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$200 Bonus for Business Checking and $100 for Personal Checking at Comerica Bank

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Comerica Bank is offering a $200 bonus for opening a business checking account and a $100 bonus for opening a personal checking account. The promo page for the business account is located at www.comerica.com/business. Here are the requirements to receive the $200:
  • Open any business checking with a $5,000 minimum opening deposit
  • Sign up for a no-fee Business Check Card
  • And open one of the following: web banking, business deposit capture, business credit card or business loan or line of credit.

The bonus won't be awarded until the account has been opened for 6 months. The account must be opened by February 29, 2008. According to the service rep, business accounts require that you provide your state business license/registration papers. You can't just claim to be a sole proprietor. Please check with the bank for the exact documents that are required.

Personal Checking Account Bonus

They also have a $100 bonus for opening a personal checking account. I don't have the promo link for this one. I tried several combinations of "/something", but with no luck. The service rep didn't have the page either, but she did confirm the promotion and provided some details. Like the business bonus, they won't reward it until 6 months after the account has been opened. Here are some of the details:
  • Open any personal checking account
  • Sign up for a Check Card
  • Establish Direct Deposit or automatic transfers from your Comerica savings to checking account

The account must be opened by March 10, 2008. Note, their checking and savings accounts have monthly maintenance fees unless you maintain a certain balance or have other services like direct deposit. This promotion seems very similar to one that Comerica offered last year.

According to the bank rep, there's NO hard credit pull when you open a checking accounts. They just do a ChexSystem verification. Note, CSRs are often wrong about hard pulls.

You can apply at a branch or by phone. It's only available to people in states which have Comerica branches. Branches are located in Arizona, Florida, Texas, California and Michigan.

The bank has been FDIC insured since 1934 (Certificate # 983).

Thanks to the reader who mentioned this bonus in the finding-the-best-deals post and to FW member Waffles who posted it in this FW thread.
  Tags: 1st SouthWest Bank, California, Comerica Bank, Michigan, Arizona, Texas, checking account, Florida

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Comments
7 comments.
Comment #1 by Anonymous posted on
Anonymous
I applied at comerica once (over the phone) and never received anything... I probably should have followed up with it, but I decided not to..

1
Comment #2 by Anonymous posted on
Anonymous
I live in Illinois and therefore can't take advantage of this offer, but for others, I’m thinking the requirement for “business licenses/registration papers” and such could be a problem. At least in my state, by no means does every type of business require a state license. I had this issue when trying to start a local business checking account for a sole proprietorship. I told them I’d called the relevant State agencies and determined that my business (software development) did not require any license or registration. We finally agreed that I’d include a copy of my most recent Schedule C with my application - not the way I preferred to proceed due to privacy issues, etc., but it got the job done.

1
Comment #3 by Mario after some more caffeine (anonymous) posted on
Mario after some more caffeine
Sorry, it's 2008, please disregard my comment before (you can delete it to avoid confusion, Banking Guy). It's 2008, duh. Well, I guess I tried. :) But I promise I'll keep looking!

1
Comment #4 by Banking Guy (anonymous) posted on
Banking Guy
No problem. Thanks for looking, and please keeping looking. The CSR said that it should be published with links soon on their website.

1
Comment #5 by Mario (anonymous) posted on
Mario
Ok, I think I got the year right now. I found a PDF file in the same directory as the PDF for the business checking.

http://comerica.nfusion.com/files/Comerica_Retail_Brochure.pdf

Is this the same promo you've heard about, Banking Guy? This one requires $2500 opening deposit and is not valid for their Access Checking account. May not be worth it if you have to keep $2500 in the account for 6 months to avoid the monthly fees, unless you can find a good combination of accounts for their Rich Rewards Checking perhaps.

If this is the promo this year, last year's was quite a bit better.

1
Comment #6 by Richard (anonymous) posted on
Richard
I called and the CSR told me that the minimum deposit for this promotion is $2,500. Apparently, the "Access Checking Account" (which has a $500 min balance requirement) is not eligible for this promotion.

1