Thursday, 19 September 2019

Commerce Bank Review: Checking, Savings, CD and Money Market Accounts

Commerce Bank Review: Checking, Savings, CD and Money Market Accounts
29 Dec
3:00

Commerce Bank’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.02%

Savings

Commerce Bank Personal Savings

2.10%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

0.25%

CD Rates

Commerce Bank 1 Year CD

2.65%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

0.35%

CD Rates

Commerce Bank 3 Year CD

2.90%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

0.45%

CD Rates

Commerce Bank 5 Year CD

3.10%

Goldman Sachs Bank USA High-yield 5 Year CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

Commerce Bank’s checking account options

magnifying glass

How Commerce Bank’s checking accounts compare

While Commerce Bank’s accounts come with an easy-to-navigate user interface, the ability to avoid fees and the opportunity to earn gift rewards, the rates on those that earn interest don’t even come close to the ones on our list of the best online checking accounts. It’s true you could do a lot worse than Commerce Bank’s checking accounts, but you could definitely do a lot better too.

Commerce Bank’s savings account options

magnifying glass

How Commerce Bank’s savings accounts compare

We like that the fees are fairly easy to avoid on Commerce Bank’s savings accounts. But, as with the checking accounts, the rates don’t even come close to competing with those on our list of the best online savings accounts. Take the time to shop around for the best savings product out there, and possibly consider one on our list.

Commerce Bank’s CD rates

magnifying glass

How Commerce Bank’s CD rates compare

While Commerce Bank’s deposit requirements and early withdrawal penalties are on par with what else is available on the market, the rates just don’t beat out those on our list of the best CD rates. You’re putting your money away for a reason, so why wouldn’t you want to earn the most bang for your buck? Take the time to do your research and find the best product out there to suit your needs.

Commerce Bank’s money market account options

magnifying glass

How Commerce Bank’s money market accounts compare

Many traditional banks are getting away with paying very low rates on their money market accounts, and Commerce Bank is no exception. While the fees associated with each of these products are fairly easy to avoid, you can do better and earn better returns on your funds. Consider one of the accounts on our list of the best money market rates instead, as many offer more than twice these rates.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Emilia Benton

TAGS:

Recommended by

This Cash Back Number May Surprise You

This Cash Back Number May Surprise You

Best Travel Credit Cards With No Annual Fee

Best Travel Credit Cards With No Annual Fee

Getting Approved For 1 Of These Credit Cards Means You Have Excellent Credit

Getting Approved For 1 Of These Credit Cards Means You Have Excellent Credit

2 Credit Cards Charging 0% Interest until 2019

2 Credit Cards Charging 0% Interest until 2019

Source: https://www.magnifymoney.com/blog/reviews/commerce-bank/

« »

Szemere

Related Articles