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  Comerica Bank Money Market Account

Comerica Bank Money Market Account

in Money Market Accounts from Comerica Bank · fdic

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Comerica Bank Money Market Account

Unaffiliated

in Money Market Accounts from Comerica Bank · Member FDIC

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Highlights
APY (Annual Percentage Yield) 0.03%
APY Minimum Balance $1
Minimum Opening Deposit Starting at $50

Comerica Bank Money Market Account Review

Comerica Bank Money Market Account is offered by Comerica Bank, a bank founded in 1849 and based in Dallas, TX. Comerica Bank Money Market Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.03.
  • Charges a monthly fee. This account charges a monthly service fee of $12, but the fee is waived if you keep a minimum balance of $2,500.
  • Small minimum initial deposit. You only need $50 to open an account.
Pros & Cons of Comerica Bank Money Market Account
Pros Cons
  • Available in all 50 states.
  • Does not offer mobile check deposits.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide a debit card.
  • Monthly service charge.
Comerica Bank Money Market Account FAQ

Are money market accounts from Comerica Bank federally insured?

Yes, your Comerica Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What are the interest rates for Comerica money market account rates?

Comerica Bank Money Market Account Rates and Terms
Rates Amount
APY 0.03%

Comerica money market account offers an APY of up to 0.03% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a balance of $1.

What are the fees for Comerica Bank Money Market Account?

This account charges a monthly maintenance fee of up to $12. You can avoid this fee by maintaining a balance of $2,500.

Comerica Bank will charge you a $5 fee if you exceed your maximum number of monthly transactions.

Comerica Bank Money Market Account Fees
Fees Amount
Monthly Fee up to $12
Paper Statement Fee N/A
Excess Transaction Fee $5

What is the minimum balance for Comerica money market account?

Minimum deposit of $50. You must make an initial deposit of at least $50 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $2,500.

Interest rate minimum balance of $1. You must keep the account balance above $1 to earn interest.

What features and perks does Comerica money market account offer?

This account includes the following features:

  • Check Writing - Comerica money market account includes check writing privileges. This is convenient method to pay bills and transfer money from your account.
  • Fraud monitoring - Comerica Bank monitors transactions for potentially fraudulent activity.

What is the customer service phone number?

The customer service number for this business card is (800) 266-3742.

What is the support contact email?

The support contact email for this business credit card is OEWCmail@comerica.com.

How to open an account with Comerica Bank

  • Visit the Comerica Bank website.
  • Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
  • Check the information is accurate and submit your application.
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Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $1
Minimum Balance to Avoid Monthly Fee Starting at $2,500
Minimum Opening Deposit Starting at $50
Monthly Fee $12
Account Features
  • Fraud Monitoring
  • Fraud Protection
  • Branch Access
  • Member FDIC
  • Check Writing
APY (Annual Percentage Yield) 0.03%
Dividend Rate 0.03%

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