Comerica

• Financial services
• Checking accounts
• Saving account options

Financial Services

Comerica Incorporated provides financial services and strategic advice to three major business segments including: the Business Bank, the Retail Bank, and Wealth Management. There are personal banking solutions as well, but that is not necessarily the main priority or focus of the banking structure.

Checking Accounts

There are four different checking accounts available for personal bankers. Each account was designed to benefit varying groups of people in different stages of life. These accounts come with their own features, fees, and benefits. The Comerica checking solutions are broken down as follows:

• Access Checking: a basic checking account that makes you eligible for a Statement Savings Account without a monthly maintenance fee. Individuals with basic checking needs and a minimum daily Ledger Balance of $1,000. No monthly fee for web banking or direct deposit.
• Rich Rewards Checking: an interest-bearing checking account that makes you eligible for a Statement Savings Account without a monthly maintenance fee. Individuals who are looking for a more robust checking account with a minimum daily Ledger Balance of $5,000. This account sees all the benefits of access checking accounts plus free Comerica Advantage checks.
• Premier Checking: an interest-bearing checking account that makes you eligible for a Statement Savings Account or Money Market Investment Account (MMIA) without a monthly maintenance fee. Individuals with broader personal financial needs with a minimum daily Ledger Balance of $7,500.
• Comerica Platinum Circle Checking: an interest bearing account with the works: including preferred rates, a dedicated service line and a Comerica Check Card or ATM Card with higher withdrawal limits. Individuals who maintain a $50,000 average daily Ledger Balance in any combination of personal or business deposit accounts or who meet other qualifications.

Saving account options

For those who are primarily interested in savings account options, Comerica has a number of those to choose from as well. There are three different savings account to choose from:

• Statement Savings Account: basic savings account designed for individuals with basic savings needs.
• Money Market Investment Account: savings account with the flexibility of check writing and designed for individuals looking of maximize earnings on deposits of $2,500 or more.
• High Yield Money Market Investment Account: a savings account with higher tiered interest rates and the flexibility of checking writing. Perfect for individuals looking to maximize their earnings on deposits of $15,000 or more.

The savings solutions offered by Comerica offer a versatile range of features to help meet savings goals. Whether a client goes with basic or premier savings account solutions, there are options and products that will benefit almost any financial need.

• Limited investment options
• Personalized service

Limited Investment Options

There are limited investment opportunities for individuals who decide to bank with Comerica. Despite having a portion of their business dedicated to wealth management, there is not much emphasis on those planning for retirement. The only investing solutions on a long-term basis include:

• IRAs
• CDs
• Money Market Accounts

Personalized Service

The majority of the attention goes to satisfy the needs of the affluent individuals/groups and the businesses that use Comerica for their banking solutions. That means as an individual, you may not receive the personalized attention often found with more community-based banks.  If custom attention is not necessarily a factor in the banking process, then Comerica can still be a viable option.