Comerica Bank Review 2023
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At a glance

CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Comerica Bank is best for those who live in Michigan, Arizona, California, Florida or Texas and can meet the requirements to waive monthly fees on its accounts.
Highlights
- Low Min Deposit
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
Comerica Bank offers a full suite of deposit products. While there are many types of accounts available, they tend to have low yields and high monthly fees. However, there are ways to waive the monthly fees on each account.
Pros
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There are many types of accounts offered.
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Savings and money market accounts come with an ATM card.
Cons
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Deposit accounts come with high monthly fees, though they can be waived.
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Annual percentage yields (APYs) on all accounts are far below average.
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Branch access is limited to five states.
Comerica banking products
FEATURES
Comerica savings overview
Some unique features of the savings account are its ATM card and fraud detection tools. The account earns interest on all balances. However, the yield is very low.
Pros
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Though there is a monthly fee, it can be waived in several ways.
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The Statement Savings account comes with an ATM card.
Cons
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A balance of $500 is needed to waive the monthly fee if you don’t meet other requirements.
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The savings yield is much lower than what other institutions are offering.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
ComericaAPYAPYNational average APYHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank experience
Comerica Bank offers branch services in Michigan, Arizona, California, Florida and Texas. Customer service can be reached over the phone on weekdays from 8 a.m. to 9 p.m. ET and on Saturdays 8 a.m. to 5 p.m. ET.
There’s also 24/7 self-service banking available, which is done through an automated voice system. Customers can use this service to perform basic banking tasks such as checking their account balance, transferring funds and reporting a missing debit card.
Comerica Bank’s mobile app has average to below-average ratings on Google Play and the Apple app store.
About Comerica Bank
First opened as Detroit Savings Fund Institute in 1849, Comerica Bank initially served only Detroit residents. It has since merged with several other institutions and now has branches across Michigan, Arizona, California, Florida and Texas.
Comerica Bank provides a wide variety of products and services, including deposit accounts for consumers and small businesses, credit cards, loans and insurance.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.