Comerica Bank

Overview / Commentary
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 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.

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Great bank

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!

Reasonable expectations, excellent service

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.

Customer User Friendlyness

This bank takes unfriendlyness to a new low. Their policy of pushing one for english has been surpassed by their call in number for account information. Built by some geek, constant asking over and over the same questions are NOT for customer user ease, they are to frustrate users . This bank should be boycotted until they change. I wish I could give then 1/2 star

Great Bank

I opened a small business checking account with Comerica back in 2008.  Although I do not maintain a large balance, the account is free, except for purchasing checks.  On one occasion they did erroneously debit my account, but they corrected it very quickly when I brought it to their attention.  The branch representative in West Hollywood was outstanding.  The epitome of customer service.

They do charge for on-line bill pay, so unless you pay lots of bills it's a feature that's not worthwhile ($6.95).



Health Grade Components

FDIC Certificate #983
Year Established1849
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.79%
Return on Equity - YTD17.02%
Annual Interest Income$1.44B
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$72.41B$72.15B
LoansQ2 2019vs Q2 2018$51.15B$49.12B
DepositsQ2 2019vs Q2 2018$56.80B$58.67B
Equity CapitalQ2 2019vs Q2 2018$7.57B$7.44B
Loan Loss AllowanceQ2 2019vs Q2 2018$657.0MM$677.2MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$226.0MM$261.5MM
Real Estate OwnedQ2 2019vs Q2 2018$3.0MM$2.8MM
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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

0.01%$1-Statement Savings Account

Comerica Bank Money Market Rates

0.06%*$100k*-High Yield Money Market Investment Account
OTHER TIERS: 0.03% $1 - $15k | 0.04% $15k - $100k
0.03%$1-Money Market Investment Account

Comerica Bank CD Rates

2.25%$10k-12 Month Fixed Rate CD Special - New Money
2.20%$10k-270 Day Fixed Rate CD Special - New Money
2.15%$10k-180 Day Fixed Rate CD Special - New Money
0.40%$1-7 - 10 Year Fixed Rate CD
0.35%$1-5 Year Fixed Rate CD
0.35%$1-6 Year Fixed Rate CD
0.25%$1-4 Year Fixed Rate CD
0.20%$1-3 Year Fixed Rate CD
0.15%$1-2 Year Fixed Rate CD
0.10%$1-1 Year Fixed Rate CD
0.04%$1-180 - 364 Day Fixed Rate CD
0.03%$1-90 - 179 Day Fixed Rate CD
0.02%$1-30 - 59 Day Fixed Rate CD
0.02%$1-60 - 89 Day Fixed Rate CD
0.01%$1-7 - 29 Day Fixed Rate CD


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