Additional information of Rich Rewards Checking account
When choosing the Comerica Rich Rewards Checking Account for your everyday expenses, consider the following:
- 0.01% APY rate
- CheckPhoto option
- 24/7 year-round access
- Comerica Debit Card
- 50 minimum opening deposit
- Savings account balance with no monthly maintenance fee
- Interest rate increase when you sign up for a CD or IRA for more than 1 year
- Use of Web Banking and Bill Pay at no monthly fee (expedited payment fee may apply)
- Discounts for non-mortgage loans and HELOCs (Home Equity Line of Credit) when you enable the autopay feature
What are the Rich Rewards account requirements?
If you want to be eligible for this interest-bearing checking account, you must be at least 16 years old and a U.S. citizen.
In addition, you need a valid bank account, Social Security number or tax ID number and a valid state ID card or a valid driver's license.
Although Comerica is one of the largest banks in the country, its retail banking operations are limited to about five states: Arizona, California, Florida, Michigan and Texas. This can be inconvenient for using their ATMs if you don't want to be charged a $2.50 fee.
The least favorable thing about this account would be:
- Interest and fee information is conditional on state of residence.
- Maintenance fee of $18. This can be considered a high fee for a checking account. If you want to avoid it, you need a minimum daily balance of $5,000 or a combined $7,500 with other accounts.
- Uncompetitive APY. Although this fee varies depending on your state, it's practically negligible. You can achieve good rates with other online accounts with no fees and less requirements, like the CIT Bank accounts or those from Capital One.
Español: Cuenta Rich Rewards Checking de Comerica Bank