Comerica Bank Premier Checking Account
Advantageous perks, including:
- premium interest rates,
- free checks,
- online banking,
- free savings or money market account.
securely on the bank's website
The Premier Checking Account is an interest-bearing checking account that, in addition to the usual - free check or ATM card, online banking, and alike, comes with additional perks, such as Comerica’s premium financial and money management services, special rates and discounts on loans, and more. For long-term account owners, APY rates increase, and can go up to 0.35%. The possibility to have the $22 monthly fee waived makes the offer even more attractive. However, pay attention to hidden fees that may apply when using the bank's services!
Checking account details
- Monthly fee can be reduced by $2 with eStatements, and suppression of paper statements.
- Monthly fee can be waived if you keep a $7,500.00 minimum Ledger Balance (deposits, credits, withdrawals and other debits) each day in this account OR a minimum combined balance of $20,000.00 each day in this account and/or up to 3 other related Comerica Accounts (Statement Savings, MMIA, HY MMIA, CDs, and IRAs) OR an open revolving home equity account.
- For CDs, a minimum opening deposit is $1,000.
- Penalty fees may be applied for early withdrawals, which could reduce earnings on CDs.
- Increased interest rate on new fixed rate CDs and IRAs with a term of one year or more.
- Discounts on certain residential mortgage closing costs for first mortgages, home purchases, and refinancing.
- Free overdraft protection transfers from your designated account (fees may apply if used a Comerica Visa® credit card offered by Elan Financial Services).
- $0/month on a MMIA or a Statement Savings Account.
- eStatements available for 24 months with Comerica Web Banking®.
- Free Comerica Web Banking® and Comerica Web Bill Pay® .
- Free Comerica Advantage style checks.
- Comerica Debit Card or ATM Card.
- 24-hour access to Comerica ATMs.
- A rate discount on a Comerica Home Equity Flexline® and Non-Real Estate Installment Loan when using autopay from your Rich Rewards Checking Account.
- FDIC-insured account.
Checking account fees
Minimum Deposit to Open$50
Out-of-Network ATM Transaction Fee$5.00
Out-of-Network ATM Withdrawal Fee$2.50
Overdraft Fee$26 - $38
Non-Sufficient Funds Fee$26 - $38
Foreign Transaction Fee3%
Comerica Bank Premier Checking Account FAQ
A combined balance comprises funds you keep across several accounts, instead of only one.
Comerica will waive the $22 monthly fee for its Premier Checking account if you keep a minimum daily combined balance of at least $20,000 in up to 4 different Comerica accounts. In addition to the Premier Checking, you can keep money in a Statement Savings, MMIA, High-Yield Money Market Investment Account (HY MMIA), CDs, and IRAs.
This is, however, not the only way to have the monthly fee waived. You can also keep a minimum daily ledger balance of at least $7,500 (posted transactions, such as deposits, credits, withdrawals, and other debits) or open a revolving home equity account.
A money market account is a savings account that offers higher interest rates than a regular savings account, and has some checking account features.
Comerica's Money Market Investment Account is FDIC-insured, and comes with a Comerica ATM card you can use to make ATM transactions, with several direct deposit options, and 24/7 access to Comerica ATMs. The account allows limited access to funds, and early withdrawal fees may be applied in case of excessive withdrawals, transfers or debt transactions. You can, however, write up to 6 checks per statement cycle.
Currently, the interest rates on MMIA are applied based on the amount of money you keep in your Comerica Money Market Investment account. For balances between $1 - $2,499, APY and interest rates are 0.03%; for balances between $2,500 - $24,999, the rates are set to 0.10%, while for balances of $25,000 and over, the APY and interest rates are also 0.03%.
If you're looking to save extra, you can open Comerica Money Market Investment Account as well, and have the monthly fee waived simply because you're also a Premier Checking accountholder.
A Statement Savings is another Comerica's savings account offered to Comerica Premier Checking® accountholders at no additional cost.
Just like Comerica Money Market Investment Account, Statement Savings also gives you 24-hour access to Comerica's ATM network, and 6 free check writings per month.
Comerica Web Banking® allows you to access and manage your account anywhere, at any time. With Comerica Web Banking®, you'll be able to, among others:
- view recent transactions, transfers, bill pay, and other activities,
- view, download, and print electronic monthly statements, available for up to 24 months,
- view your Comerica Debit card transactions, and account history going up to 6 months behind,
- set up one-time or recurring or future-dated transfers between your Comerica checking and savings accounts OR between your Comerica and your accounts at other U.S. financial institutions,
- manage all things checks (view, print, request stop payments),
- pay bills,
- use tools, such as Zelle or Quicken®.
If you don't meet any of the minimum balance requirements to have the $22 monthly fee on the Comerica Premier Checking account fully waived, you can have the monthly fee reduced by $2 if you opt out of receiving paper statements. Of course, you might also want to turn them off simply because you don't want to waste paper.
Anyhow, to turn off paper statements, you need to access your Comerica Premier Checking online, through Comerica Web Banking®. Once signed in, you can submit a request to have your paper statement option turned off. You'll have free access to electronic statements, and pay no paper statements fees as long as you're enrolled in paper statement suppression.
The overdraft fees and NSF fees are set and charged by Comerica based on the number of times you overdraw your account (overdraft fees) or are unable to cover an amount written on a check (non-sufficient funds). The more frequently it happens, the more you'll pay. This is, relatively speaking, a good thing, as it should serve to keep you more vigilant, and responsible with your money.
Whether it be overdraft fees or NSF fees, Comerica Bank will charge you $26 the first time, $34 the second, third, and fourth time, and $38 for the fifth or any following occurrence.
The best way to avoid Comerica's overdraft and NSF fees is by keeping a close eye to your account balance using digital banking tools, such as account alerts, mobile app, and review account activity history frequently.
Comerica Bank provides overdraft protection services, just like any financial institution.
Standard Overdraft Practices come automatically with all checking accounts; Enhanced Overdraft Protection require prior confirmation, while Automatic Overdraft Protection (AOP) is available to link to a checking account for customers that currently have or would like to open a Comerica Savings or Money Market Account, or who apply and qualify for a Credit Card or Home Equity Line of Credit. Keep in mind that some fees may apply, these services aren't always free.
If you choose Comerica's CheckPhoto option, you'll receive front images of your cancelled checks together with your monthly statements.
Check Safekeeping is when your checks are not returned with your monthly bank statements. Comerica will destroy your checks, but copies will be kept for a limited time.
With either of these 2 options, you can receive up to 4 free copies of checks per statement cycle.
Yes, Comerica's mobile app can be found in the Apple® or Google Play app store, and you can access it using your smartphone, iPad or tablet. If you have a web browser on your device, you can use the Comerica mobile app without downloading the app at all. However, not all features are available with the web browser.
The Comerica mobile app allows you to keep an eye and manage your account at your convenience. You can check activity, transfer funds, pay bills, set up alerts, and deposit checks using Click&Capture Deposit® (this feature isn't available via browsers).
Once you've enrolled in Comerica Mobile Banking and Web Banking, you can set up a number of alerts to help you stay on top of your finances by receiving instant push notifications, texts or emails.
- Balance alerts (daily balance, low balance, savings goal, overdraft, continuous overdraft).
- Withdrawal alerts (large withdrawals, large ATM transaction, large debit card transaction, gas station purchases, external or person-to-person transfer).
- Deposit alerts (direct deposit, large deposit, Click&Capture Deposit®).
- Actionable alerts (low balance, overdraft) -> these require more than 1 eligible Comerica account.
You can visit a Comerica local branch or contact Comerica's Customer Contact Center toll free at 800.589.1400.