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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


Founded in 1984, Commerce Bank has assets totaling $25 billion and deposits totaling $21 billion, ranking it as a very large bank. Commerce Bank, whose headquarters are in Kansas City, Missouri, lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With a score of 3.7 out of 5 stars, Commerce Bank should be near the middle of the pack in your search for a bank. Commerce Bank offers a mixture of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking product maintains a $8.00 monthly fee, making it a rather pricey bank for checking. Institutions that offer no-fee checking as well as a high savings APY are the best bet for getting 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 fair compared to the average U.S. bank. Its CDs feature a rate of 0.60% and 0.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.20%. Given its below average savings rate, you should think about choosing another bank to earn more on your deposits.

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 other U.S. banks. At $8.00/month, Commerce Bank's checking account is less than the best product for people who want an easy checking account. Commerce Bank does not refund out-of-network ATM charges, meaning you'll be required to find a Commerce Bank ATM or eat the cost of withdrawal.

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. It also offers access to mobile and web apps for easy access and banking on the go. It does not provide access to 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 services get great feedback from customers. The Commerce Bank mobile app has been given a 4.5 out of 5 (out of 44,000 customer reviews on Apple and Android) compared to the national average of 3.8. You can utilize Commerce Bank's mobile app to control your funds by reviewing monthly statements, transferring funds as well as accessing support representatives. Commerce Bank gets an outstanding consumer satisfaction score based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 owning $25 billion in assets and $21 billion in deposits. Its Texas Ratio is 1.29%, indicating a negligible chance of failure. 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 has 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 think about 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 compared to the average U.S. bank.

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Find a Commerce Bank Near Me

Commerce Bank has 179 locations in the U.S.

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