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Commerce Bank Review

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Commerce Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Commerce Bank was founded in 1984 and is headquartered in Kansas City, Missouri. It owns assets of $25 billion as well as $21 billion in deposits, making it a very large bank. Commerce Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Coming in at an average 3.7 out of 5 stars, Commerce Bank proves it is a bank with better alternatives. Commerce Bank has a variety of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product has a monthly fee of $8.00, although banks sometimes have requirements that allow you to waive the fee. Finding a bank with free checking as well as a high savings APY is the best bet for returning the most income from your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

Commerce Bank has a savings rate of 0.05%, which is poor compared to the national average. Its one-year CD earns at a rate of 0.60% and the five-year CD earns at a rate of 0.75%, while its highest-yielding money market account has a rate of 0.20%. Given its noncompetitive savings rate, you should think about looking at the competition to open savings accounts.

How Commerce Bank's Savings Rates Compare

Commerce Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Commerce Bank has typically high fees in comparison to the average U.S. bank. Commerce Bank's checking account has a monthly fee of $8.00, which makes it fair for anyone looking for a simple account. Commerce Bank does not refund out-of-network ATM charges, meaning you'll have to find a Commerce Bank ATM or accept the fee.

Monthly Fee $8.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Commerce Bank is a brick-and-mortar bank, with 179 total bank locations in Colorado, Illinois, Kansas, Missouri, Nebraska and Oklahoma. With mobile and web apps, Commerce Bank makes mobile banking easy, even on the go. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 8:00 pm CT; Saturday, and 8:00 a.m. to 4:00 p.m. CT. Commerce Bank's online and mobile banking platforms get great feedback from users. Out of 44,000 ratings across both iOS and Android platforms, the Commerce Bank mobile app is scored at 4.5 out of 5 (compared to the national average of 3.8). Commerce Bank's mobile app lets you manage your finances by checking current statements, sending and receiving funds and reaching customer service. Commerce Bank receives an excellent consumer satisfaction score due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Commerce Bank is currently a very large bank with $25 billion in assets and $21 billion in deposits. Commerce Bank's Texas Ratio is 1.29%, indicating that Commerce Bank is in outstanding financial well-being and unlikely to fail. Additionally, Commerce Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Commerce Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 0.45% APY
  • 36 Month: 0.60% APY
  • 48 Month: 0.65% APY
  • 60 Month: 0.75% APY
$10000 for all terms
Money Market Account 0.2% APY $1000

Commerce Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Commerce Bank does not have the best savings rate, which means you should consider taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Commerce Bank's CD rates are fair in comparison to the national average.

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Find a Commerce Bank Near Me

Commerce Bank has 179 physical branches across the U.S.

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