Commerce Bank is headquartered in KANSAS CITY and is the 2nd largest bank in the state of Missouri. It is also the 69th largest bank in the nation. It was established in 1984 and as of June of 2024, it had grown to 4,560 employees at 160 locations. Commerce Bank has a B+ health rating.
Unprofessional Crooks
Closed my account months ago and these crooks don't want to pay me my money. Every time I call they keep giving me the runaround or no one responds. This is stressful and frustrating that a company this big that been around so long ignores me while keeping money that doesn't belong to them.
Rude And Arrogant Employees
Commerce was supposed to close an account. They didn't and it racked up fees. They closed the account, never notified me. I got on some list banks use to not let anyone bank anywhere. I paid it off to get off list. It was only $200. After years Commerce won't let me open another account. I have a business account there. A branch manager was so condescending. He told me no then goes do you want to close the business account today. He basically told me Commerce doesn't want my business. I have some direct deposits coming in in a few days so I couldn't on the spot so he goes okay and got up. I couldn't believe how unprofessional and dismissive he was. He made it out like I was a criminal. He will get his wish. I will leave Commerce!
Lessons From 2002 ... AVOID - Especially With The Banks Runs Happening.
I'd long forgot about this inept and unprofessional bank but recent news of several bank collapses reminded me of why we left Commerce Bank 20 years ago. At the time we were just beginning our lives post marriage and money was tight. Long story short, Commerce made it a shrewd business practice to thrive on others misfortunes. My wife overdrew our account one day which automatically caused an overdraft fee. You would think that any near term attempts to charge the account (esp. auto-draft/auto-pay) would be stifled by the banks software and keep their customer from continuing to receive overdraft fees. Well that is NOT what Commerce did. They tacked on over $300 in overdraft fees (2002 dollars no less!!) to several charges that my wife and I didn't even know was happening. It would have been nice if they had simply called. We could have transferred money from our savings over to cover the difference. I called to speak with the local branch manager who was very unpleasant and basically made this our problem and wasn't even interested in a compromise in order to keep a long term customer - albeit small potatoes in 2002 when this happened. I can only laugh all the way to bank now (with Etrade that is). With a solid multimillion dollar networth distributed across several accounts at Etrade now, it is Commerce's loss. So yes, they won on the $300 fees but they lost BIG TIME on the future. Never again. And what's even more revealing, Commerce is amongst several banks that are likely to fail in the coming weeks/months due to mis-management of their customers funds. Nothing like a run on the bank to put them out of their misery. Good riddance!!! User's recommendation: AVOID - a bank run is coming just like SVB and Republic.
Did Not Pay Reward For Promotion
Commerce promised a $250 reward for $1000 charges in 90 days. They claim I didn't make it but I say I did. I was keeping track from the time that I received the card in the mail. They backdated it to when I applied for it. That is pretty low. How could I use the card when I didn't even have it yet?
Stay away from these guys. They are slippery.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 24998 |
| Year Established | 1984 |
| Employees | 4560 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.71% |
| Return on Equity - YTD | 9% |
| Annual Interest Income | $717.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $30.35B$32.65B |
| Loans | Q2 2024vs Q2 2023 | $17.01B$16.8B |
| Deposits | Q2 2024vs Q2 2023 | $24.69B$26.17B |
| Equity Capital | Q2 2024vs Q2 2023 | $2.49B$2.14B |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $158.6MM$158.7MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $34.5MM$17.1MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $1.2MM$792K |
