Commerce Bank myRewards Money Market Account Review

Commerce Bank is based in Kansas City, MO. It was founded in 1865 and offers its money market accounts in 11 states across the USA.

If you're considering a money market account and want to know whether Commerce Bank myRewards Money Market Account is right for you, read on.

Is Commerce Bank myRewards Money Market Account insured by the FDIC?

FDIC insured. Commerce Bank myRewards Money Market Account is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC insures deposits in money market accounts up to $250,000 per depositor if a member institution fails.

What are the Commerce Bank myRewards Money Market Account rates?

Commerce Bank myRewards Money Market Account offers an APY of up to 0.02% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a minimum balance of $0.

What are the Commerce Bank myRewards Money Market Account fees?

Commerce Bank myRewards Money Market Account does not charge a monthly maintenance fee. This account charges a monthly maintenance fee of up to $6. You can avoid this fee by maintaining a balance of $500.

What is the minimum balance for Commerce Bank myRewards Money Market Account?

• No minimum initial deposit. Commerce Bank does not require a minimum initial deposit to open an account.
• Monthly maintenance minimum balance of $500. You can avoid the monthly fee if you keep a minimum balance $500.

What features and perks does Commerce Bank myRewards Money Market Account offer?

How to open an account with Commerce Bank

• Visit the Commerce 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.