Commerce Bank Rates & Review

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Commerce Bank Review

Find out how $10,000 turned into $16.8 billion at Commerce Bank, and how this small-town company grew to innovate the banking world.

When Francis Reid Long started the Kansas City Savings Association in 1865, all he had were dreams and $10,000 capital. Today, Commerce Bank operates in approximately 350 locations in Kansas, Missouri, Illinois, Colorado, and Oklahoma, with over $16.8 billion in assets as of 2010.

The bank draws from a tradition of innovation throughout its history. In 1928, Commerce Bank launched the first 24-hour transit department in the nation, and in 1984, the bank released the first card on the market to include the combined features of a credit card and ATM card.

Commerce Bank received an award from J.D. Power and Associates for "Highest Customer Satisfaction with Retail Banking in the Midwest Region" three years in a row (2008-2010).

Checking and savings account choices

Commerce Bank offers a products and services in personal finance, wealth management, small business and commercial banking. All eligible deposits are FDIC-insured to $250,000 per depositor.

The bank offers a variety of free checking account types, most with minimum balance requirements. Savings accounts include a targeted savings account with no initial deposit required, and a complimentary monthly deposit after 11 consecutive months of deposits. A variety of money market account options are provided. CD rates vary by state and are offered with maturities from 3 months to 5 years.

Beyond personal banking

Wealth management services include investment management and trust services through The Commerce Trust Co. along with brokerage investment accounts and retirement planning.

A small business checking account is offered along with a business check card and credit card. Commercial banking services include electronic payment solutions, payroll service, remote deposit, commercial leasing, institutional trust and investment management, as well as international services and health care banking solutions.

  • Account Type
  • APY
  • Adverstiser Comments
  • Savings
  • 0.03%
    Min to Earn APY: $100
  • Personal Savings - APY for balances over $100 - Rate collected within: 60625 (IL)
  • Money Market
  • 0.03%
    Min to Earn APY: $10,000
  • Premium Money Market Tier $10,000 - $24,999 - $10 monthly fee waived with $5,000 average daily balance - Rate collected within: 60625 (IL)
  • CD Rates
  • 1 Year CD Tier - Up to $9,999 - Rate collected within: 60625 (IL).

See below CD Rates for sample states

  • Term
  • APY
  • Min. To Earn APY
  • Compounding Method
  • Commerce Bank (Rate in IL)

    • 1 year
    • 0.25%
    • $0
    • Compounding Daily
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