Newest Commerce Bank Promotions, Bonuses and Offers: August 2020

Commerce Bank promotions

With more than 150 years of banking history, Commerce Bank has deep roots in the regions it serves. The bank currently has 184 branches, mainly in the Midwest and South.

Like many other banks, Commerce offers sign-up bonuses when you open a new account, although many people might not be aware of them.

A recent GOBankingRates survey found that many Americans miss out on free money from cash bonuses because they don’t research bank promotions. Only 11% of the respondents said they compare their bank to others to get lower fees.

Stop leaving money on the table and find out how much you can save by keeping an eye on special offers. Here’s what this guide to the Commerce Bank promotions for August 2020 will cover:

Commerce Bank Promotions at a Glance

Commerce Bank offers several promotions for the month of August. Here’s a quick look:

Best Commerce Promotions: August 2020
Account Cash Value of Bonus Expiration Date
Commerce Bank Personal Checking $250 None
Commerce Bank myRewards Savings Up to $100 per year None
Commerce Bank myRewards Money Market Up to $200 per year None
Commerce Bank Rewards Visa $150 None
Refer-a-Friend Bonus $50 None

Current Commerce Bank Promotions

The current Commerce Bank Promotions include ways to earn Visa Rewards gift cards and bonus deposits to your savings and money market accounts. Although Commerce offers accounts to business customers, no business account bonus is available this month.

Keep reading to learn more.

Commerce Bank Checking Account Promotions

Similar to the previous month, the only Commerce checking account bonus available this month is for new customers who are referred by a friend. To qualify for the bonus, you’ll have to maintain a large balance, but it can be spread across several account products at the bank.

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Commerce Bank Personal Checking Account: $250 Bonus

New customers referred to the bank can receive a $250 Visa Rewards gift card when they open a new checking account and meet certain requirements. Each personal checking account comes with standard features like online banking, options for waiving monthly service fees and access to relationship rates on savings accounts.

Here are the bonus details:

  • Cash value: $250
  • Minimum deposit to qualify: $100,000
  • Expiration date: None
  • How to get it: Follow the referral link provided by an account holder. Next, open a new personal checking account and maintain a minimum balance of $100,000 in any combination of savings, checking and CD accounts for at least three consecutive months.
  • When you’ll get it: The Visa Reward card will arrive four to six weeks after meeting requirements
  • Terms and conditions: The minimum deposit must come from funds not currently held at Commerce Bank.
  • Monthly fees: $0-$20, but can be waived by meeting certain requirements
  • Promotion pageCommerce Bank Personal Checking Account bonus offer

Commerce Bank Savings Account Promotions

This month’s promotion rewards you for making saving a habit. The bonus is based on the average monthly deposit you make in your savings or money market account. The more you save, the more you earn.

Commerce Bank myRewards Savings Account: Up To $100 Annual Bonus

Commerce Bank wants to help you with your savings goals, and it’s providing you with an incentive to do so. You can earn up to $100 ($50 per account) every year when you make regular monthly deposits. No Commerce Bank coupon code is required, and the bonus is automatic if you meet certain criteria. Here’s more:

  • Cash value: Up to $100 every year
  • Minimum deposit to qualify: $0
  • Expiration date: None
  • How to get it: Open a Commerce Bank checking account and a myRewards savings account and then make 11 consecutive monthly deposits.
  • When you’ll get it: During the month after you meet the requirements.
  • Terms and conditions: The bank calculates the bonus by averaging your monthly deposits. You must make 11 consecutive monthly deposits and no more than four withdrawals per year to qualify.
  • Monthly fees: $3, but can be waived by meeting certain requirements
  • Promotion pageCommerce Bank myRewards Savings Account bonus offer

Commerce Bank myRewards Money Market Account: Up To $200 Annual Bonus

A money market account lets you grow your money faster than it would in a regular savings account. When you open a Commerce Bank myRewards Money Market account you also earn an annual bonus of 0.5% on the collected balance for the previous 12 months, up to $200 every year. Here’s how:

  • Cash value: Up to $200 per year
  • Minimum deposit to qualify: $0
  • Expiration date: None
  • How to get it: Open a Commerce Bank checking account and myRewards Money Market account.
  • When you’ll get it: The 13th month after you open your account
  • Terms and conditions: The bonus is based on the average monthly deposit for the previous 12 months. You must have a balance of $100 or more to earn interest.
  • Monthly fees: $6, but can be waived by meeting certain requirements
  • Promotion pageCommerce Bank myRewards Money Market Account bonus offer

Commerce Bank Credit Card Promotions

Commerce is offering a bonus for a cash-back credit card this month. The details are below.

Commerce Bank Rewards Visa: $150 Bonus

When you sign up for a Commerce Bank Rewards Visa credit card with no annual fee you’ll earn 1.5% cash back on every purchase. There are no category restrictions or points limits, making it possible to earn cash-back rewards quicker. Plus, you can earn a $150 cash-back bonus. Here’s more:

  • Cash value: $150
  • Minimum spend to qualify: $1,000
  • Expiration date: None
  • How to get it: Apply and get approved for the card and then spend $1,000 in the first three months.
  • When you’ll get it: Six to eight weeks after you meet the requirements.
  • Terms and conditions: You can use your bonus towards your credit card balance.
  • Annual fee: None
  • Promotion pageCommerce Bank Rewards Visa bonus offer

Commerce Bank Referral Promotions

Both existing and new customers can take advantage of Commerce Bank bonuses offered through the referral program. The bonus is in the form of a Visa Rewards card instead of a cash deposit.

Refer-a-Friend Bonus: $50 Bonus per Referral

Commerce will give you a $50 Visa Reward Card — up to $500 worth within a calendar year — for every friend and family member you refer who opens a new Commerce personal checking account. CommercePremier customers earn a $250 Visa Reward Card for each qualified referral (up to $500).

Here’s more:

  • Cash value: Up to $500
  • Minimum deposit to qualify: N/A
  • Expiration date: None
  • How to get it: Register for the Refer-a-Friend program and share the program with others. The referred person must then open a new personal checking using a provided link, receive a direct deposit, sign up for online banking and enroll in paperless statements.
  • When you’ll get it: Four to six weeks after requirements are completed
  • Terms and conditions: Qualifying direct deposits come from payroll or government benefits. The referred person cannot have an existing Commerce Bank personal checking account.
  • Monthly fees: N/A
  • Promotion pageCommerce Bank Refer-a-Friend bonus offer

Opening a Commerce Bank Account

You can either visit a local branch to open an account or apply online. You’ll need to provide the following:

  • Two forms of ID such as a driver’s license, state ID or passport
  • Employer name and phone number
  • Proof of address

Is Commerce Bank Right for You?

Commerce Bank offers a variety of banking products for personal and business customers. If you live or work in the bank’s service area, it might be worth a closer look. The savings account bonuses can be lucrative and encourage a savings habit, while the credit card promotion offers a generous cash bonus.

Check back each month for updates and new promotions as they are available. If none of the above promotions seem like a good fit for you, there are also a number of other banks offering promotions this month.

Just remember that bonuses and other special offers shouldn’t be the only factors you consider when choosing a bank. Make sure it meets your financial needs as well.

Information on promotions was sourced from banks’ websites on July, 28 2020. Additional requirements may apply. Offers and terms are subject to change.

This content is not provided by Commerce Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Commerce Bank.

This article has been updated with additional reporting since its original publication.

About the Author

Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.