Explore Commerce Bank’s suite of bank accounts

This regional bank has a worldwide ATM network — but low interest rates.

Last updated: 26 December 2019

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Commerce Bank, based out of Kansas City, Missouri, offers a full suite of checking and savings accounts for individuals and businesses. But interest rates are painfully low and you’ll want to live in one of the following five states it serves: Colorado, Illinois, Kansas, Missouri and Oklahoma.

What banking products does Commerce Bank offer?

- CommerceBasic Checking account. A basic account with a $100 minimum deposit and a waivable $8 monthly fee.
- CommerceInterest Checking account. You’ll earn interest, but the APY is only 0.01%, and it has a $100 minimum deposit and a $10 waivable monthly fee.
- CommerceRelationship Checking account. You’ll need a $5,000 deposit across all Commerce accounts to earn 0.05% APY and avoid the $20 monthly fee.
- CommerceStudent Checking account. Students younger than 25 don’t pay a monthly fee as long as the account isn’t inactive for 60 days.
- mySpending Card account. In lieu of a checking account, this reloadable prepaid card helps you track expenses or give your child an allowance.
- myRewards Savings account. Open up to five different accounts for specific savings goals but you’ll only earn 0.02% APY.
- myRewards Money Market account. You’ll get checkwriting privileges, but only earn 0.02% interest.
- Premium Money Market account. Comes with checkwriting privileges, but interest rates are 0.02%, 0.05% or 0.10% depending on your account balance.
- Commerce CDs. Terms range from three months to five years, with three-month options earning 0.05% and five-year terms peaking at 0.45% APY.
- Money Market IRA. Earn 0.15% APY when you save for retirement with Commerce Bank.
- HSA. If you have a high-deductible health plan, you can make pre-tax contributions and tax-free withdrawals to help cover medical expenses.
- Small Business Options Checking account. Get up to 300 free monthly transactions, a Business Visa Debit Card and unlimited free Commerce ATM transactions.
- myBusiness Select Checking account. Comes with 150 free transactions and you’ll need $2,500 or $5,000 in combined balances to avoid the $9 monthly fee.
- myBusiness Checking account. There’s no monthly fee when you open a personal checking account and you’ll get 25 free monthly transactions.
- Premium Trust Fund account. Insurance agents can use this account to collect premium payments and there’s no fee when you open any business checking account.
- Insurance. Protect your loved ones with life, multibenefit, long-term care and disability insurance.
- Credit cards. Open a Special Connections, toggle, Kansas City Royals, Business Rewards or Business Platinum credit card.
- Loans. Commerce Bank offers a range of loans for businesses, motor vehicles, students, healthcare and more.
- Mortgages. Residents in Colorado, Illinois, Indiana, Kansas, Kentucky, Michigan, Minnesota, Missouri, Ohio, Oklahoma, Tennessee and Texas can take out a Commerce Bank mortgage.
- Investments. Open a brokerage or money management account through Commerce Bank.

Why should I open an account at Commerce Bank?

Commerce Bank offers basic features like mobile and online banking and FDIC-insured deposits, but it also features:

Referral bonuses. Earn a $50 Visa Reward Card every time a family member or friend opens a personal checking account. But you can only earn up to $500.
Popmoney transfers. Instantly send and receive money from family and friends with Popmoney.
Huge ATM network. In addition to Commerce Bank ATMs, you can use over 1.7 million VISA PLUS ATMs for free worldwide.
Comprehensive options. There’s 15 checking and savings account options to choose from.

What should I look out for?

Although Commerce Bank has its perks, there are a few things you should watch out for:

Low interest rates. Commerce Bank doesn’t offer any rates above 0.45%, which is lower than competing institutions.
Limited availability. Branches are limited to five states and you’ll want to live in one of them to bank and close an account.
Deposit minimums. Most accounts require at least $100 minimum opening deposits.
Fees. Most accounts have monthly fees, but you can waive them under certain conditions.

Compare with leading bank accounts

Name	APY	ATMs	Fee
BBVA Online Checking		No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs	$0	Bank with BBVA and you could earn a total offer value of $250. Offer valid: 2/1/20 - 2/28/20.	Go to site More Info	Compare	loading Fetching your data...
Chase Sapphire Checking	0.01%	Free to use anywhere worldwide	$25/month (can be waived)	Get a $1000 welcome bonus when you join Sapphire Banking by March 06, 2020. Within 45 days of joining, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts (excludes any J.P. Morgan retirement accounts and CDs), and maintain the balance for at least 90 days.	More Info	Compare	loading Fetching your data...
Axos Bank Rewards Checking	1.25% on balances of $0+ with $1,000+ in direct deposits, 10 $3+ debit card transactions and 5 additional account transactions per month	ATM fees reimbursed at any ATM nationwide	$0	Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.	Go to site More Info	Compare	loading Fetching your data...
Axos Bank Essential Checking		ATM fees reimbursed at any ATM nationwide	$0	No fees. Unlimited domestic ATM fee reimbursements.	Go to site More Info	Compare	loading Fetching your data...
HSBC Advance Checking	0.01% on balances of $5+	Surcharge-free HSBC ATMs nationally and internationally, plus up to four rebates a month for using non-HSBC ATMs in all US states except New York	$25/month (can be waived)	Earn 2% cash back on qualifying direct deposits (up to $30 per month and $350 total during the first 12 months) with a new HSBC Advance Checking account. Offer ends March 29, 2020. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.	Go to site More Info	Compare	loading Fetching your data...
TD Beyond Checking	0.05% on balances of $50,000+ 0.03% on balances of $10,000 to $49,999.99 0.01% on balances of $0.01 to $9,999.99	1,900 ATMs across the country and Canada	$25/month (can be waived)	A checking account that offers interest plus three ways to waive the monthly fee, two overdraft paybacks a year and no ATM fees with a $2,500 balance.	Go to site More Info	Compare	loading Fetching your data...

Compare up to 4 providers

Commerce Bank customer service

There are two ways to contact Commerce Bank customer service:

In person. Visit a branch location
Email. Send a message to mymoney@commercebank.com
Phone. Call one of the numbers below depending on your situation:

Bottom line

Commerce Bank has a comprehensive suite of checking and savings accounts for individuals and businesses. If you’re looking for a regional bank with a large ATM network, it may be a good fit for you.

But its interest rates are unattractive and you’ll want to live in one of the five states it serves.

Before you make a decision, shop around for high-yield accounts that may better suit your needs.

Frequently asked questions

Commerce Bank has branches in:
Colorado
Illinois
Kansas
Missouri
Oklahoma
And commercial offices in:
Cincinnati
Dallas
Des Moines
Grand Rapids
Houston
Indianapolis
Nashville

Thank you for your feedback!

Cassidy Horton

Cassidy Horton is a writer for Finder, specializing in banking and investments. She has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. Cassidy enjoys educating people about financial services, exploring the Pacific Northwest and watching endless reruns of The Office.

Card Finder: Get a personalized card recommendation with this free tool

Find the best personal loan offer

Find the best mortgage rates and offers

Find the best high yield savings accounts.

Explore Commerce Bank’s suite of bank accounts

This regional bank has a worldwide ATM network — but low interest rates.

Banking Guides

Brands

What banking products does Commerce Bank offer?