Comerica Bank

Overview / Commentary

www.comerica.com

214-462-4000

1717 Main Street
Dallas, TX 75201

Comerica Bank is a large, publicly traded bank (NYSE: CMA) located in Dallas, Texas, that provides its customers with personal, small business, and commercial banking services, as well as wealth management services. Its reward checking account has been featured repeatedly in the past on DepositAccounts.com. The bank’s website is easy to navigate and segments its personal banking products and services into deposit, loan, and wealth management categories.

Within Comerica’s deposit category offerings are checking, savings, and money market accounts, as well as certificates of deposits, or CDs. In addition to a simple checking account, the bank offers several checking accounts that come with incentives for opening other accounts such as CDs, IRAs, and money market accounts. A basic savings account is available with comes with free direct deposit, and several money market accounts offer higher rates of interest for keeping larger minimum account balances. Certificates of deposit range in term lengths from 7 days to 10 years and offer generally lower interest rates than the national average. Comerica also offers Visa check and credit cards.

Comerica Bank online banking features 24/7 account access and management. Customers can use the web-based platform to view up to six months of account history, transfer funds, and upload their transactions into financial management applications like Quicken. The bank also offers a customized mobile app for customers’ use on their smartphones.

Comerica Bank was originally established in 1849 as the Detroit Savings Fund Institute and kept its headquarters in Detroit, Michigan, for more than 150 years. The bank changed its name to Comerica in 1991 before relocating its headquarters to Dallas in 2007, where it remains to this day. It serves its customers through multiple branches located throughout the United States.

View all posts from:

2014
2011
2010
Earlier

1/2 - Comerica Bank To Pay $14.6 Million To Settle Class Action Over Overdraft Fees

2/10 - Checking Account $100 Cash Bonus at Comerica Bank

10/10 - Comerica Bank's $100 Checking Account Bonus
9/15 - Comerica Office Perks Program: $200+ Business Checking Promotion
4/29 - Earn up to $300 in Comerica's Checking Account Promotion
2/15 - $400 Bonus for Small Business Growth Package at Comerica - EXPIRED

8/28/09 - $120 Checking Account Bonus at Comerica Bank
1/9/08 - $200 Bonus for Business Checking and $100 for Personal Checking at Comerica Bank
2/19/07 - $100 Checking Account Bonus at Comerica Bank

Reviews (21)

Reasonable expectations, excellent service

Posted by: sunflowerstation | Mar 26, 2015

I selected Comerica because I live in Michigan and it was founded in this state. I think it's important to support local businesses, and even though Comerica is no longer headquartered in Michigan, they still do a lot of business here and I wanted to make sure I kept my money local. I opened up a checking account at my nearest Comerica in 2005, when I was 18. It was my first bank account and I was not sure what to expect. So far, they have not disappointed me. I have never encountered any of the random fees some of my friends complain about. They do charge a $6 monthly fee if you have a very low balance or don't deposit a certain amount of money every month, but my checking account is actively used, so I do not have to deal with any fees like that and I have no issues there.

What has impressed me the most, however, is how they deal with potential fraud and abuse. Twice in the past 10 years, they have mailed me to let me know that my card may have been compromised and sent me a new one free of charge. Once was after I lost my ATM card, but had not yet reported the loss. I don't even know what triggered the warning because no one had accessed my money that I knew of, but I was very grateful they were looking out for me and making sure my money was safe. Because of this, I will be a Comerica customer for life.

Comment

Lack Of Honesty

Posted by: THEREALGregg | Nov 1, 2019

23 minute wait time to start. I was told one story for the fee by the first person which I explained could not be true and why and the woman did not know what to say and put me on hold. The next woman gave me a different story and I again took that story apart and she basically said to bad. She put me on hold again and called my banking center who then refunded the fee. Then she told me NOT TO CALL customer service but to call the bank directly. If they do not want customers to call what is their purpose in existing? What makes this worse is they had no reason to charge the fee and where just hoping I would not notice or not care enough to bother or maybe if I did call they could lie to me enough that I would just quit. Overall 50 minutes on the phone.

Comment

Bad Bad Bad Customer Service

Posted by: Djm520 | Nov 16, 2020

I've been trying for 3 weeks to close out my parents accounts with NO help from this bank.
I was the power of attorney, the beneficiary, the executor and still I can't do anything AND they've froze the account. I'm so over this company it's not even funny. I don't even know what to do anymore, they made a living will and a will so I wouldn't have any issues. It's shameful how they have treated me all because my parents have passed.

Comment

Great bank

Posted by: InfamousGrinder | Oct 6, 2017

I love this bank. It's not a big bank like most of them around here. The employees are very friendly and know the customers by name. I also know who I'm dealing with when I go in there too. Anytime I had a question, problem or just a bank transaction they've always been helpful. The other day my desktop computer got hacked and the hackers shut it down, I can't use my computer anymore until I get it fixed. I was so worried and upset I cried all morning. My first concern was my bank account. I immediately went to my bank and told them what happened. I was still crying and upset. They were very compassionate and concerned with my problem. They made note about my account but so far everything looked ok. She explained everything to me and I felt much relief by the time I left there. I'm so grateful for all do for me. I've never ever dealt with such a good caring bank before. I'm so pleased I found them!

Comment

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Health

Data as of Q1 2023

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	983
Year Established	1849
Employees	7421
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	1.48%
Return on Equity - YTD	25.05%
Annual Interest Income	$952.0MM

Assets and Liabilities
Assets	Q1 2023vs Q1 2022	$91.26B$89.14B
Loans	Q1 2023vs Q1 2022	$54.47B$49.02B
Deposits	Q1 2023vs Q1 2022	$66.70B$78.99B
Equity Capital	Q1 2023vs Q1 2022	$5.61B$7.18B
Loan Loss Allowance	Q1 2023vs Q1 2022	$641.0MM$554.0MM
Unbacked Noncurrent Loans	Q1 2023vs Q1 2022	$227.0MM$277.0MM
Real Estate Owned	Q1 2023vs Q1 2022	$3.0MM$2.0MM

Rates

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Savings
Money Market
Checking
CD
IRA

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Always verify rates and promotions with the bank or credit union. We are not Comerica Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Comerica Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.01%^†	$1	-	Statement Savings Account
0.01%^†	$1	-	Small Business Savings
0.01%^†	$1	-	Commercial Business Savings

Comerica Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
1.65%^*^†	$500k^*	-	Comerica Platinum Circle High Yield Money Market
OTHER TIERS: 0.05% → $1 - $15k \| 0.07% → $15k - $50k \| 0.25% → $50k - $100k \| 1.25% → $100k - $500k
1.00%^*^†	$500k^*	-	Small Business Money Market
OTHER TIERS: 0.50% → $1 - $500k
1.00%^*^†	$500k^*	-	Premium Business Money Market
OTHER TIERS: 0.03% → $1 - $500k
0.03%^†	$1	-	High Yield Money Market Investment Account
0.02%^†	$1	-	Money Market Investment Account

Comerica Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.10%^*^†	$50k^*	-	Comerica Platinum Circle Checking
OTHER TIERS: 0.05% → $1 - $50k
0.01%^†	$1	-	Rich Rewards Checking
0.01%^†	$1	-	Premier Checking

Comerica Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.45%^†	$1	-	5 Year CD w/ Comerica Platinum Circle Checking
0.45%^†	$1	-	6 Year CD w/ Comerica Platinum Circle Checking
0.45%^†	$1	-	7-10 Year CD w/ Comerica Platinum Circle Checking
0.40%^†	$1	-	3 Year CD w/ Comerica Platinum Circle Checking
0.40%^†	$1	-	4 Year CD w/ Comerica Platinum Circle Checking
0.35%^†	$1	-	1 Year CD w/ Comerica Platinum Circle Checking
0.35%^†	$1	-	2 Year CD w/ Comerica Platinum Circle Checking
0.35%^†	$1	-	5 Year CD w/ Premier Checking
0.35%^†	$1	-	6 Year CD w/ Premier Checking
0.35%^†	$1	-	7-10 Year CD w/ Premier Checking
0.30%^†	$1	-	180-364 Day CD w/ Comerica Platinum Circle Checking
0.30%^†	$1	-	3 Year CD w/ Premier Checking
0.30%^†	$1	-	4 Year CD w/ Premier Checking
0.30%^†	$1	-	5 Year CD w/ Rich Rewards Checking
0.30%^†	$1	-	6 Year CD w/ Rich Rewards Checking
0.30%^†	$1	-	7-10 Year CD w/ Rich Rewards Checking
0.25%^*^†	$500k^*	-	Business 5 Year Fixed Rate CD
OTHER TIERS: 0.20% → $1 - $500k
0.25%^†	$1	-	1 Year CD w/ Premier Checking
0.25%^†	$1	-	2 Year CD w/ Premier Checking
0.25%^†	$1	-	3 Year CD w/ Rich Rewards Checking
0.25%^†	$1	-	4 Year CD w/ Rich Rewards Checking
0.20%^†	$1	-	5 Year Fixed Rate CD
0.20%^†	$1	-	6 Year Fixed Rate CD
0.20%^†	$1	-	7-10 Year Fixed Rate CD
0.20%^†	$1	-	Business 6 Year Fixed Rate CD
0.20%^†	$1	-	Business 7-10 Year Fixed Rate CD
0.20%^†	$1	-	1 Year CD w/ Rich Rewards Checking
0.20%^†	$1	-	2 Year CD w/ Rich Rewards Checking
0.15%^†	$1	-	3 Year Fixed Rate CD
0.15%^†	$1	-	4 Year Fixed Rate CD
0.15%^†	$1	-	Business 3 Year Fixed Rate CD
0.15%^†	$1	-	Business 4 Year Fixed Rate CD
0.10%^†	$1	-	1 Year Fixed Rate CD
0.10%^†	$1	-	2 Year Fixed Rate CD
0.10%^*^†	$2.5k^*	-	1 Year Flexible Rate CD
OTHER TIERS: 0.05% → $1 - $2.5k
0.10%^†	$1	-	Business 1 Year Fixed Rate CD
0.10%^*^†	$2.5k^*	-	Business 1 Year Flexible Rate CD
OTHER TIERS: 0.05% → $1 - $2.5k
0.10%^†	$1	-	Business 2 Year Fixed Rate CD
0.05%^†	$1	-	180-364 Day Fixed Rate CD
0.05%^†	$1	-	Business 180-364 Day Fixed Rate CD
0.05%^†	$1	-	180-364 Day CD w/ Rich Rewards Checking
0.05%^†	$1	-	180-364 Day CD w/ Premier Checking
0.03%^†	$1	-	7-29 Day Fixed Rate CD
0.03%	$1	-	30-59 Day Fixed Rate CD
0.03%^†	$1	-	60-89 Day Fixed Rate CD
0.03%^†	$1	-	90-179 Day Fixed Rate CD
0.03%^†	$1	-	Business 7-29 Day Fixed Rate CD
0.03%^†	$1	-	Business 30-59 Day Fixed Rate CD
0.03%^†	$1	-	Business 60-89 Day Fixed Rate CD
0.03%^†	$1	-	Business 90-179 Day Fixed Rate CD
0.03%^†	$1	-	7-29 Day CD w/ Comerica Platinum Circle Checking
0.03%^†	$1	-	30-59 Day CD w/ Comerica Platinum Circle Checking
0.03%^†	$1	-	60-89 Day CD w/ Comerica Platinum Circle Checking
0.03%^†	$1	-	90-179 Day CD w/ Comerica Platinum Circle Checking
0.03%^†	$1	-	7-29 Day CD w/ Rich Rewards Checking
0.03%^†	$1	-	7-29 Day CD w/ Premier Checking
0.03%^†	$1	-	30-59 Day CD w/ Rich Rewards Checking
0.03%^†	$1	-	30-59 Day CD w/ Premier Checking
0.03%^†	$1	-	60-89 Day CD w/ Rich Rewards Checking
0.03%^†	$1	-	60-89 Day CD w/ Premier Checking
0.03%^†	$1	-	90-179 Day CD w/ Rich Rewards Checking
0.03%^†	$1	-	90-179 Day CD w/ Premier Checking

Comerica Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.20%^†	$500	-	5 Year Fixed Rate IRA
0.20%^†	$500	-	6 Year Fixed Rate IRA
0.20%^†	$500	-	7-10 Year Fixed Rate IRA
0.15%^†	$500	-	3 Year Fixed Rate IRA
0.15%^†	$500	-	4 Year Fixed Rate IRA
0.10%^†	$500	-	1 Year Fixed Rate IRA
0.10%^*^†	$2.5k^*	-	1 Year Flexible Rate IRA
OTHER TIERS: 0.05% → $500 - $2.5k
0.10%^†	$500	-	2 Year Fixed Rate IRA
0.05%^†	$500	-	180-364 Day Fixed Rate IRA
0.03%^†	$500	-	7-29 Day Fixed Rate IRA
0.03%^†	$500	-	30-59 Day Fixed Rate IRA
0.03%^†	$500	-	60-89 Day Fixed Rate IRA
0.03%^†	$500	-	90-179 Day Fixed Rate IRA