Commerce Bank Review: Rewards Banking Plus One-Stop Financial Services
Written by
Caitlyn Moorhead
Edited by
Elizabeth Constantineau
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Commerce Bank is an excellent choice if you’re looking for tools and services to help you reach your financial goals. GOBankingRates recognized its excellence, giving it the Silver award winner for both Kansas and Missouri in the 2025 Best Banks by State rankings.
Whether you’re a student opening your first account or someone with years of banking experience, Commerce Bank stands out for its wide range of products and services. It’s hard to find another bank that covers so many aspects of managing your finances in one place.
Commerce Bank Checking Accounts
Commerce Bank has a variety of banking accounts designed to fit your checking needs. Here are some key takeaways:
- Commerce offers Commerce Free Checking, CommerceInterest Checking and Commerce Relationship Checking.
- Monthly service fees can be waived by meeting account activity requirements.
- All checking options offer the convenience of free online access and mobile apps.
- You will also get your paychecks deposited early, a Tap to Pay debit card and free Commerce ATM transactions.
- Commerce Bank offers customers Zelle, overdraft grace periods and online bill pay.
Best For
Mobile App
Low Monthly Fees
No Minimum Deposit
Banking in Kansas
Banking in Missouri
No Fee for Commerce Free Checking
Commerce Bank checking accounts make everyday banking simple, with options like early direct deposit, free ATM transactions and Tap to Pay debit cards. Choose CommerceRelationship Checking for added benefits like free checks and ATM fee rebates.
Fees
$0 to $22 monthly
APY
Min Opening
$25 to $100
Pros
- Free checks with CommerceRelationship Checking
- Commerce ATM transactions are free
- Rebate of other banks’ fees — up to $10 per month, with CommerceRelationship Checking
Cons
- High balance needed to waive CommerceRelationship $20 monthly fee
- Free checks are not available with all accounts
Quick Take
No matter what your financial situation, Commerce Bank has a checking account to help you manage your everyday spending.
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Commerce Bank Savings Accounts
Commerce Bank has just one regular savings account — Commerce myRewards Savings. The account rewards you for consistent savings habits. You can earn a matching deposit reward of up to $20 per account per year. Here are some key features:
- Interest is compounded daily.
- Account is FDIC insured.
- You can avoid the monthly service fee by meeting one of these requirements: maintain a daily minimum balance of $300 or make at least one monthly electronic deposit of $25 or more.
- Ability to earn deposit bonus.
Best For
Mobile App
Low Monthly Fees
No Minimum Deposit
Banking in Kansas
Banking in Missouri
No Minimum Deposit Required
Commerce myRewards Savings encourages consistent saving habits with its unique matching bonus program. Earn up to $20 per account annually while benefiting from easy ways to waive the monthly service fee.
Fees
$5 a month — can be waived
APY
Min Opening
$0
Pros
- No minimum opening deposit
- Ability to open accounts for specific purposes
- Low monthly service fee that can be waived
Cons
- The balance needed to waive the monthly service fee can be high for some
- To qualify for the matching deposit bonus, you must limit withdrawals to four or fewer per year
- Only three free withdrawals or transfers per month
Quick Take
If you make monthly savings deposits for 11 consecutive months, Commerce Bank will reward you with a matching deposit for the 12th month, up to $20 per eligible account. This bonus can help you grow your savings faster.
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Commerce Bank CD Accounts
If you’re looking for an alternative to savings accounts, consider a certificate of deposit. Commerce has a variety of options to pick from.Â
- Commerce Bank’s shorter-term CDs have higher minimum deposits and lower rates than the longer-term ones.Â
- The minimum deposits range from $1,000 to $5,000, depending on the term.
- CD rates and terms may vary by location as will the Promotional CD options.
Best For
Mobile App
Low Monthly Fees
No Minimum Deposit
Banking in Kansas
Banking in Missouri
Interest Compounds Daily
With terms and rates that vary by location, Commerce Bank CDs offer guaranteed returns and competitive rates compared to the Premium Money Market account.
Fees
Early withdrawal penalties may apply
APY
Up to
Min Opening
$1,000 to $5,000
Pros
- Interest compounded daily
- Better rates than Commerce Bank’s Premium Money Market account
- Rate of return is guaranteed
Cons
- Relatively high minimum deposit
- Low rates compared to other online banks
Quick Take
Commerce CD accounts offer the benefit of earning higher rates without the risk of more volatile investments.Â
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Commerce Bank Money Market Accounts
Commerce offers the Premium Money Market account which lets you grow your money faster, no matter how much you’re able to save. Here are some key points to know:
- The minimum deposit to open is $1,000.
- There is a monthly service fee of $12 monthly which can be waived if you maintain a daily balance of $5,000.
- Money market accounts can be a higher-earning alternative to traditional savings accounts.
- Rates are tiered depending on your account balance.
Best For
Mobile App
Low Monthly Fees
No Minimum Deposit
Banking in Kansas
Banking in Missouri
Waivable Monthly Fee
The Premium Money Market account from Commerce Bank offers tiered rates that increase as your balance grows.
Fees
$12 monthly — can be waived
APY
Up to
Min Opening
$1,000
Pros
- Rates increase the more you keep in your account
- FDIC insured
- Interest is compounded monthly
Cons
- Lower APYs compared to other online banking options
- High minimum balance requirements to waive the fee
Quick Take
The Commerce Bank Premium Money Market account rewards higher balances with better rates, making it a smart choice for growing your savings.
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Banking Experience
When it comes to branch locations, Commerce Bank has a small footprint. But its well-designed website, robust digital banking options and excellent range of services make it easy to manage your finances no matter where you live.
Customer Service
You can bank by phone, listen and change account information and report lost or stolen cards with a 24-hour information line at 1-800-453-2265. You can also call to speak with a customer service representative Monday through Friday from 8 a.m. to 8 p.m. CT, and from 8 a.m. to 4 p.m. CT on Saturdays.
You can email Commerce Bank customer service using the link on the Contact Us page of their website.
Accessibility and Branch Availability
Commerce Bank has branches in nine regions for those who prefer to bank in person. Use the branch locator to find your nearest branch. You can also search for the features you need — like a coin counter or the ability to receive a debit card on the spot.
Mobile and Digital Experience
Digital banking gives you three ways to manage your accounts: the Commerce Bank website, the mobile app or your Quicken app. Log in to your account to transfer funds, pay bills, set up account notifications, view statements, lock credit and debit cards — even see images of your written checks.Â
The Commerce Bank Mobile Banking app also lets you deposit checks, and it’s available for iPhone and Android. The app has a star rating of 4.6 out of 5 on Google Play and 4.7 out of 5 stars in the App Store.
Commerce Bank Fees
Most of Commerce Bank’s fees are in line with fees from competing banks. One notable exception is the inactivity fee, which many banks don’t charge. Still, monthly service fees and overdraft fees are avoidable. For example, monthly maintenance fees on certain bank accounts can range from $3 to $20, depending on the account, but can be waived if minimum balance or opening deposit requirements are met.
Comparable Banking Options
Before you choose your first bank or switch from your current one, it’s helpful to shop around. Here’s a look at how Commerce Bank compares to some of its competitors.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $22 monthly
$0 to $25, many waivable
Up to $6.95, which is waivable
APY
APY
APY
for Key Select Checking
Min Opening
Min Opening
Min Opening
$25 to $100
$0 to $50
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$5 a month — can be waived
$0
No monthly service fee
APY
APY
APY
Up to
Min Opening
Min Opening
Min Opening
$0
$10
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Early withdrawal penalties may apply
N/A
No monthly service fee
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$1,000 to $5,000
$2,500
$500
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$12 monthly — can be waived
$20, waivable
$10, waivable
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$1,000
$5,000
$100
Commerce Bank vs. KeyBank
Commerce Bank and KeyBank have a lot in common, but KeyBank has better customer service options, including 24/7 phone access to live representatives as well as a live chat. Where Commerce Bank shines in comparison is in its myRewards accounts that offer bonus interest.
Commerce Bank vs. U.S. Bank
Mobile app budgeting tools and a virtual assistant give U.S. Bank an edge over Commerce Bank’s digital banking features. Commerce Bank evens the score with a more comprehensive product line that includes insurance and student loans — products U.S. Bank doesn’t offer.
Commerce Bank vs. Bank of America
Bank of America, Member FDIC, will appeal to more folks who like to bank in person — it has thousands of ATMs and financial centers across many states. If good rates are more important to you than in-person banking, Commerce Bank might be a better choice.
Final Take
Commerce Bank is a comprehensive solution for managing your finances at every stage of your life. Although local branch locations are confined to a small geographic area, the bank’s digital banking platform is robust enough that many customers never will need to bank in person.
Commerce Bank rises above many of its competitors based on these factors and more. This is why GOBankingRates awarded it as one of the Best Banks in Kansas and Missouri for 2025.
Commerce Bank FAQ
Here are answers to some frequently asked questions about Commerce Bank.- Does Commerce Bank have free checking?
- Yes, there is the Commerce Free Checking account which has no fees.
- What is the minimum balance for Commerce Bank?
- The minimum balance requirements will vary depending on what type of account you have but typically range from $100 to $1,000.
- Does Commerce Bank allow Zelle?
- Yes, you can use Zelle through your Commerce bank account online or through the mobile app.
- Does Commerce Bank refund ATM fees?
- Yes, Commerce Bank does refund some ATM fees for some accounts. For example, the CommerceRelationship Checking account includes up to $10 per month in ATM fees from other banks.
Daria Uhlig contributed to the reporting for this article.
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 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. 18, 2024.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
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.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 18, 2024.Â
