Comerica Bank is a highly recognized and well-reputed financial institution. The institution offers a huge range of banking services. The services tend to develop a fine interest in the consumers to choose the bank and rely on its services.

Most commonly, the services include; savings accounts & checking accounts along with the certificates of deposits. Moreover, the people can also be involved in other money market accounts and mortgage loans.

Here is a review-based article, in which we will take a closer look at all the available bank offerings and their rates in detail. Let’s explore the Comerica Bank further.

Bank Overview

Comerica Bank is known to have been established in March 1849. When it comes to its headquarters, it is found in Dallas, Texas. The bank is operated as a commercial bank along with a state charter bank. Moreover, it is a respectable member of the Federal Reserve.

For further overview, Comerica Bank is a subsidiary of Comerica Incorporated. It is a highly secured and FDIC-insured entity that tends to provide an added or additional layer of security for the deposits of its customers.

Comerica Bank Locations

Comerica Bank is known to have almost 431 branches all across the five states in the United States. As per the estimation and recent countdown, this bank is the 20th largest bank in the country based on its branches.

  • Michigan – 188 branches. It has the maximum number of Comerica Bank branches.
  • Texas – Follow up with 124 branches.
  • California – Here, Comerica has 95 branches.
  • Arizona and Florida – Comerica operates almost 17 branches in Arizona and 7 in Florida

Checking Accounts

Comerica Bank holds a significant position in the prospective variety of checking accounts. Here is a quick elaboration of available checking accounts!

Checking AccountAccess CheckingRich Rewards® CheckingPremier CheckingComerica Platinum Circle Checking®
Minimum Daily Ledger Balance$1,000$5,000$7,500$50,000 (average daily ledger balance)
Monthly Fee$13 (or $11 with e-statements)$18$22Waived with $50,000 average daily ledger balance
Interest BearingNoYesYesYes
Additional Benefits– Comerica Web Banking– Increased interest rates on new fixed-rate CDs and IRAs- Choice between MMIA or Statement Savings without fees- Refund of non-Comerica ATM fees in the U.S.– Dedicated customer service- Higher money market interest rates- Discounts on certain residential mortgage closing costs– Dedicated customer service- Increased interest rates on CDs and IRAs- Higher money market interest rates- Free Comerica checks
Other Features– Bill Pay- Debit Card or ATM Card- Check SafekeepingSame as Access Checking, plus: – Increased interest rates on new fixed-rate CDs and IRAs- Choice between MMIA or Statement Savings without fees- Refund of non-Comerica ATM fees in the U.S.Same as Rich Rewards® Checking, plus: – Higher money market interest rates- Discounts on certain residential mortgage closing costsSame as Premier Checking, plus: – Free Comerica checks- Free Safe Deposit Box (up to $200 value)- No fees on wire transfers (domestic & foreign)
Online and Mobile BankingYesYesYesYes
Overdraft Protection OptionsAvailableAvailableAvailableAvailable

Saving Accounts

For the authentication of Comerica Bank and its savings accounts, one must be clear about all the appropriate facts & figures. The well-defined savings account detail is;

Savings AccountStatement Savings AccountMoney Market Investment Account (MMIA)High Yield Money Market Investment Account
Minimum DepositNone$2,500$15,000
Monthly Maintenance Fee$5 (waivable)$12 (waivable)$12 (waivable)
Waiver Conditions– Maintain a $500 minimum daily balance– Maintain a $2,500 minimum daily balance– Maintain a $15,000 minimum daily balance
– Prove age under 18 or over 62 with direct deposit of social security or pension– Prove age under 18 or over 62 with direct deposit of social security or pension– Prove age under 18 or over 62 with direct deposit of social security or pension
– Open a linked Comerica personal checking account– Open a linked Comerica personal checking account– Open a linked Comerica personal checking account
Interest BearingYesYesYes
Check WritingNoYes (up to six checks per statement cycle)Yes (unspecified limit)
Online Account ManagementYesYesYes
FDIC InsuranceYesYesYes
Tiered Interest Rates (Based on Balance)NoNoYes

CD Rates

Most authenticated way, Comerica Bank tends to deliver high-edge performance in perspective of its Certificates of deposits. the two main and crucial types of CDs available at this bank are explained below;

CD TypeFixed-Rate CDsFlexible-Rate CDs
Term LengthVarious term lengths, ranging from days to yearsOne-year term
Minimum DepositAmount not specifiedAmount not specified
Additional DepositsNot applicableAdditional deposits of at least $100 allowed at any time
Interest PaymentMonthly interest payment or compoundingNot specified
Automatic RenewalYesNot specified
Interest Rate BonusHolding a Comerica checking account might qualify for an interest rate bonusNot specified
Early Withdrawal PenaltyPenalties apply for early withdrawalOne penalty-free withdrawal of up to 50% of the principal balance
Relationship BenefitsMay help qualify for maintenance fee waivers on certain Comerica checking accountsMay help meet monthly minimum requirements for waiving maintenance fees on certain Comerica checking accounts

Money Market Accounts

Apart from all its services, Comerica Bank is concise in the aspect of its working and holds the most authentic credentials for money market accounts. The accounts include;

  • Money Market Investment Account
  • High Yield Money Market Investment Account.

These accounts are bound with the higher and most competitive interest rates. the rates are more favorable than the savings accounts and also come up with the check-writing capabilities.

They are specially designed for customers who want to get a precise balance for maintaining the account in terms of maximizing their interest earnings.

Mortgage Loans

For mortgage loans, Comerica is equipped with exceptional loan approaches,

Loan TypeDescription
Mortgage LoansComerica offers a variety of mortgage options tailored to different needs, including fixed-rate mortgages, adjustable-rate mortgages, and home equity solutions.
Other Home FinancingOptions for purchasing a new home, refinancing existing mortgages, and utilizing home equity.
Personal LoansComerica provides personal loans designed to meet various financing needs, offering flexibility for customers requiring funds for personal expenses or projects.
Student LoansLoan products specifically tailored to assist customers with financing their education expenses, covering tuition, books, and other educational costs.
Auto LoansComerica offers auto loans to help customers finance the purchase of vehicles, whether new or used, providing a convenient solution for those in need of automotive financing.

Additional Considerations

Comerica offers a suite of additional banking products and services; the services are;

  • Personal checking and savings accounts
  • Credit and debit cards
  • Wealth management services
  • Online and mobile banking solutions
  • Convenient account management.

Comparison Overview with Other Institutes

FeaturesComerica BankChase BankVaries by account, some waiver options are available
Account TypesChecking, Savings, CDs, Loans, MortgagesChecking, Savings, CDs, Loans, Mortgages, InvestmentChecking, Savings, CDs, Loans, Mortgages, Investment
Monthly FeesVaries by account, some waiver options are availableVaries by account, some waiver options are availableNationwide presence with an extensive branch network
Interest Rates on SavingsLower compared to online banksGenerally low, competitive in select accountsGenerally low, competitive in select accounts
Online/Mobile BankingAvailableAvailableAvailable
Geographic PresenceLimited to a few statesNationwide presence with an extensive branch networkNationwide presence with extensive branch network

Pros and Cons of Comerica Bank


  1. Comerica Bank is exceptional in performance due to its comprehensive online and mobile banking options. This solution and term option tend to deliver highly convenient account management options.
  2. Their money market accounts and CDs have various features. It holds higher interest rates and even more flexible terms.


  1. Limited Geographic Footprint is the major lag for the bank. Its physical branches are only limited to a few states. This is quite inconvenient for the customers that are residing outside these regions.

Customer Reviews

Overall, customer reviews for the Comerica Bank display mixed aspects. Some of the customers appreciate the personalized service of its physical branches along with other variety of financial products. Whereas, some people express significant concerns about its fees, balance requirements, and most importantly its limited geographic footprint.

Notably, some of the reviews mainly point out its low-interest rates of savings accounts and mention it as a major drawback.

Final Personal Review

Comerica seems to mainly focus on delivering a high-profile range of services that must be flexible enough to cater to/meet the preferences and requirements of customer segments. However, the level of customer satisfaction is a subjective matter. it depends upon the individual needs and preferences. Additionally, this factor also depends upon fees and branch accessibility.


Comerica Bank is known to deliver extra convenience in the shape of physical branches and a variety of account options. Their fee structures, balance requirements, and most importantly the lower interest rates on savings accounts can be a concerning edge, as it may not be suitable for everyone, but overall it tends to maintain its well-recognized reputation because of its credible CD rates and checking accounts.

All those customers who are looking for some high-yield savings options or broad ATM networks might be considered due to its branch approach in the above-mentioned regions. Ultimately, it appears to be a good fit for those who value a blend of traditional and digital banking services at the same time.


Can I avail services of Comerica Bank online or through mobile?

Yes, Comerica Bank is too favorable in this perspective. It needs to hold and provide comprehensive online and mobile banking services. Through these services, the customers tend to manage their accounts as well as pay bills precisely. They can also transfer funds, and deposit checks remotely.

Are there any fees implied for the Comerica Bank accounts?

Yes, Comerica Bank accounts align with the monthly maintenance fee requirement. However, these fees can easily be waived by certain scales. You have to meet specific balance or deposit requirements to waive the fee.

Does Comerica Bank offer mortgage and loan products?

Yes, Comerica Bank provides a range of mortgage options, including fixed-rate and adjustable-rate mortgages, as well as personal loans, student loans, and auto loans.