Comerica Bank Review: Reliable Choice for Everyday Banking and Beyond
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
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Comerica offers checking accounts, savings options and CDs, with three interest-earning checking accounts that come with valuable perks.
Comerica provides a variety of financial products, including checking, savings, money market accounts and CDs, with interest-earning checking options and beneficial perks for customers.
Comerica has a long history with roots tracing back to the 1849 founding of the Detroit Savings Fund Institute. Today, it’s a modern digital banking institution with mobile apps, online account access and a wide variety of financial products for consumers to choose from.
One area where Comerica stands out is its checking products. The company took home one of GOBankingRates’ awards for Best Premium Checking Accounts of 2025 thanks to its interest-bearing accounts and easy integrations with Comerica saving and investment products.
Comerica Bank Checking Accounts
Comerica offers four checking accounts: Access, Rich Rewards, Premier and Comerica Platinum Circle Checking.
- Access Checking is a basic checking option with the features you expect from an everyday checking product.
- Rich Rewards Checking comes with everything Access Checking offers and wealth management services.
- Premier Checking includes premium wealth management services and everything offered in the previous checking account tiers.
- Platinum Circle Checking is Comerica’s highest-tier checking option for clients with the most demanding financial needs.
- Access and Rich Rewards Checking require a $50 opening deposit.Â
- Rich Rewards, Premier and Comerica Platinum Circle are interest-earning accounts.
- Most accounts have waivable monthly maintenance fees.
- Premier Checking comes with a free Money Market Investment or Statement Savings account.
- Comerica Platinum Circle Checking has its own dedicated customer service line and complimentary checking accounts for other household members.
Best For
Premium Checking Accounts
Account Perks
Low Monthly Fees
Loan Options
Investment Services
Valuable Perks
Comerica offers four checking account options, including interest-earning accounts with valuable perks. Many accounts come with waivable monthly fees and access to wealth management services.
Fees
$13 to $22 per month
APY
Up to
Min Opening
$50 to $1,000
Pros
- A variety of checking accountsÂ
- Three checking accounts earn interest
- Comprehensive mobile and digital bankingÂ
Cons
- Accounts come with monthly maintenance fees
- Requirement of $50,000 combined balance for a Comerica Platinum Circle may be too high for most
- Premier Checking requires a $7,500 minimum balance or $20,000 over combined accounts
Why We Like Comerica Bank
Comerica has four checking account choices. Many of the accounts have features that address customers’ needs with advanced perks.
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Comerica Bank Premium Checking Accounts
Comerica Bank’s Platinum Circle Checking Account is their hallmark premium checking account. GOBankingRates ranked it as one of the Best Premium Checking Accounts for 2025. It is best for high-net individuals and offers unlimited check writing and access to personal financial advice.Â
- Minimum opening deposit is just $50.
- To fulfill your balance requirement, you must maintain an average daily balance of $50,000 across all personal and business checking accounts or have minimum combined balance of $2,500,000 in assets managed by Comerica.
- No monthly maintenance fee as long as balance requirements are met.
- APYs depend on your region.
Best For
Premium Checking Accounts
Account Perks
Low Monthly Fees
Loan Options
Investment Services
Low Minimum Deposit
Comerica’s Platinum Circle Checking is tailored for high-net-worth individuals, offering premium services like unlimited check writing and personal financial advice. It requires a $50,000 daily balance to avoid fees and provides access to benefits such as waived overdraft fees and higher ATM withdrawal limits.
Fees
No monthly service fee
APY
Up to
Min Opening
$50
Pros
- Higher ATM withdrawal limits
- Waived fees for overdraft protection transfers
- Rate discounts on selected loansÂ
- You have access to the High-Yield Money Market Account and Statement Savings Account without the monthly maintenance fees
Cons
- High balance requirement may not work for some individuals
- Limited geographic presenceÂ
Why We Like Comerica Bank
The Platinum Circle Checking account is a good fit for those who carry high balances and can maintain that amount. Account holders will have access to an exclusive customer service line, the ability to withdraw more cash from ATMs, and a comprehensive suite of premium banking services.Â
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Comerica Bank Savings Accounts
Comerica offers a traditional Statement Savings account — ideal for beginning savers. It also offers complimentary mobile and web banking and tools like direct deposits and free transfers to make managing your money easier. You also get an ATM card to withdraw cash from a Comerica ATM anytime you need it.
- Low minimum opening deposit.
- The $5 monthly maintenance fee can be waived in multiple ways.
- Includes ATM access for easy withdrawals.
- Access to financial advice from Comerica advisors.
Best For
Premium Checking Accounts
Account Perks
Low Monthly Fees
Loan Options
Investment Services
Open Your Account With Just $50
Comerica’s Statement Savings account is a simple option for new savers, offering low fees and easy access to funds with ATM withdrawals. With a low minimum deposit and access to financial advisors, it’s a convenient choice for managing your savings.
Fees
$5 monthly — can be waived
APY
Min Opening
$50
Pros
- ATM accessibilityÂ
- Low minimum depositÂ
Cons
- Limited availabilityÂ
- Low APY
- Monthly fees
Why We Like Comerica Bank
Comerica offers one savings account with a minimum deposit of $50. The APY is low, so most will find alternate options with higher returns.
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Comerica Bank CD Accounts
If you prefer a CD account, Comerica offers fixed-rate and flexible-rate options. With a fixed-rate CD, you lock in your money for a predetermined amount of time, which can range from days to 10 years. Flexible-rate CDs are offered in a one-year term. You will need a minimum of $1,000 to open a fixed-rate or flexible-rate CD.Â
- Varying CD length terms.
- For fixed-rate CDs with terms between seven and 29 days compounded and paid at maturity.
- For fixed-rate CDs with terms of 30 days to 10 years, interest is compounded and paid monthly.Â
- For the flexible rate CDs, there is a one-time penalty-free withdrawal of up to 50% of the account balance.
Best For
Premium Checking Accounts
Account Perks
Low Monthly Fees
Loan Options
Investment Services
Wide Range of CD Term Options
Comerica offers both fixed-rate and flexible-rate CDs with varying term lengths from 7 days to 10 years. With a minimum deposit of $1,000, these CDs allow you to lock in a guaranteed return, with interest compounded monthly or at maturity.
Fees
Early withdrawal penalties will apply
APY
Up to
Min Opening
$1,000
Pros
- Plenty of term lengths
- Existing Comerica account relationship could result in higher rate
- Automatic renewalÂ
Cons
- Interest rates are generally lower than competitors
- Early withdrawal penalty
- Some may find $1,000 is too high of a minimum depositÂ
Why We Like Comerica Bank
Comerica offers flexible and fixed-rate CDs with varying terms. However, the $1,000 required to open the CD may be too high for some people.
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Comerica Bank Money Market Accounts
You can open two types of money market accounts at Comerica Bank.
- The first option is a standard Money Market Investment Account that pays you a higher APY than traditional savings products. You can spend your money however you want with integrated support for checking and debit.
- Comerica also offers a High Yield Money Market account. This includes the same features and tools as the standard money market account but pays a higher APY.
- Rates up to APY on the High Yield Money Market Investment Account.
- $50 to open both money market accounts.
- The $12 monthly maintenance fee on the standard account can be waived if you maintain a $2,500 minimum daily balance, a $5,000 average balance or have a Comerica Premier or Platinum Circle checking account.
- The $25 monthly maintenance fee on the high-yield account can be waived if you maintain a $15,000 daily balance.
- The first six withdrawals are free.
Best For
Premium Checking Accounts
Account Perks
Low Monthly Fees
Loan Options
Investment Services
Check Writing Privileges and ATM Access
Comerica offers two types of money market accounts. Both accounts offer check-writing privileges, ATM access and FDIC insurance.
Fees
$12 to $25
APY
Up to
Min Opening
$50
Pros
- Check writing abilities for both money market accounts
- Earn a higher APY with a larger balance in the high-yield account
- FDIC insuredÂ
- Low minimum deposit
Cons
- Monthly maintenance fees are on the higher side
- High minimum balance of $15,000 for a High Yield Money Market account
- Limited physical branchesÂ
Why We Like Comerica Bank
The High Yield Money Market account offers the best APY for Comerica account holders. However, the $15,000 daily balance requirement may be too high for some, prompting them to consider other money market account options.
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Banking Experience
Comerica provides a solid banking experience for most users, with good phone-based customer support, though it lacks live chat assistance.
You can also manage your Comerica accounts online or on your phone anytime. The company’s iOS app has a rating of 2.0 stars out of 5, and Comerica’s Google Play app score is 3.6 stars out of 5.
There are also many different fees to monitor while using your Comerica accounts. You may never have to pay most of the fees, but because of the variety of fees, it’s easy to incur fees without realizing it’s happening.
Comparable Banks
If you’ve read this far into the review and still are unsure about Comerica Bank, you may want to consider a few alternative banks.Â
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$13 to $22 per month
$15
$5 to $35 waivable monthly fee
APY
APY
APY
Up to
N/A
Up to
Min Opening
Min Opening
Min Opening
$50 to $1,000
$0
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$5 monthly — can be waived
See Citi’s website for details on monthly fees.
Up to $12 monthly service fee – can be waived
APY
APY
APY
Up to
Up to for Platinum Savings accounts
Min Opening
Min Opening
Min Opening
$50
$0
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Early withdrawal penalties will apply
No monthly service fee
Early withdrawal penalty may apply
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$1,000
$500
$2,500 to $5,000
Comerica Bank vs. Citi®
Citi is similar to Comerica in that it offers checking, savings, investing and CDs under a single brand. However, Citi has more physical locations and, unlike Comerica, offers live chat support.
Comerica Bank vs. Citizens Bank
Citizens Bank is another institution that offers many different account options. It also has a sizeable physical branch network and some nice features like automatic reversals for overdraft fees. Citizens Bank may be a better option than Comerica if you value in-person banking and don’t live near a Comerica branch.
Comerica Bank vs. Wells Fargo
Wells Fargo has a national footprint, with several branches and ATMs across the country. It also offers robust digital tools and investment options. Comerica, on the other hand, has more of a regional focus and several checking account choices. As a customer, it depends on whether you value a more community-focused approach or need broad accessibility.
Final Take Â
For several reasons, Comerica took home one of the top awards for premier checking. It offers a variety of account types, good support availability and some opportunities for in-person banking for those who value it.
Ultimately, this makes Comerica Bank a solid option if you want to manage checking, savings, CDs, money market and retirement planning through one institution.
But there are some things that Comerica doesn’t do well that you should know about. Its hidden fees and lack of live chat support could make another institution a better alternative for your unique needs.
Comerica Bank FAQ
Now that you know more about Comerica’s products and services, here are answers to some of the bank’s frequently asked questions.- Does Zelle work with Comerica Bank?
- Comerica does use Zelle to help customers send and receive money directly.
- How much is the Comerica Bank ATM withdrawal fee?
- Withdrawals at Comerica ATMs are free. However, Comerica customers who use a non-Comerica Bank ATM will be charged $2.00.
- What is Comerica Bank's daily ATM withdrawal limit?
- The standard daily ATM withdrawal limit for Comerica Bank customers is $500.
- What are the benefits of Comerica Bank?
- Comerica is a full-service bank that offers checking, savings, money market accounts and CDs. It also offers financial planning support and a comprehensive digital platform.
Vance Cariaga, Kellan Jansen and John Csiszar contributed to the reporting for this article.
To determine the Best Premium Checking Accounts of 2025, GOBankingRates looked at the following factors from the most premier or costly checking product from the top 25 banks (in terms of total assets): (1) total assets as sourced from the FDIC; (2) minimum deposit to open an account; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) APY on the checking account; and (6) associated and advertised benefits or perks from these premium products. All factors were then scored and combined, with the lowest score being the best. Factor (1) and (2) were weighed 0.5 times, and factor (6) was weighed 3 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.Â
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
