Commerce Bank offers a small boost to your savings: open a myRewards savings account, and they'll match your average monthly deposit, up to $20 per account. You can repeat this for up to 5 accounts, but they cap the reward at $40 total. So, if you're depositing $20 into each account, you're actually capped at the first 2 accounts.
This is an annual benefit of the account (versus a one-time welcome offer). So, while the amount is low, it's a good deal for those putting money into savings accounts anyway.
This used to be a $50 offer ($100 total each year), but they've since decreased the reward.
How To Earn The Bonus
The Commerce Bank myRewards Savings promotion requires you to deposit and maintain a minimum balance in order to earn the up to $40 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- To qualify for the annual matching reward, a) deposits must be consecutive for 11 months to qualify and b) you must make 4 or fewer withdrawals per year.
- Total matching Reward determined by adding the average monthly deposit during the previous 11 months for each myRewards Savings account, per household, per year, on up to 5 myRewards Savings accounts.
- Maximum matching Reward is $20 per account, maximum total matching Reward $40 per year per household.
- Reward credited annually starting in the 12th month after the first deposit.
- Subject to change – can be discontinued at any time.
- Monthly fee waived for first 60 days after account opening. The fee is waivable beyond that if certain requirements are met (see our "fees" section below).
Open a myRewards Savings account before the bonus expires
How does this personal savings offer from Commerce Bank compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
Barclays
Barclays Tiered Savings
- Bonus
- $200
- Account Type
- Personal Savings
- Expires In
- 19 days
- Requires
- Min Balance
Live Oak
Live Oak business savings
- Bonus
- $200
- Account Type
- Business Savings
- Expires In
- 26 days
- Requires
- Min Balance
TD Bank
Personal Savings Account
- Bonus
- $200
- Account Type
- Personal Savings
- Expires In
- 13 days
- Requires
- Min Balance
Why Commerce Bank?
myRewards Savings
Fees
myRewards Savings does charge a monthly maintenance fee of $3, but there are ways to get this waived:
- Maintain a minimum daily balance of $300.
- OR, make at least 1 monthly electronic deposit of $25 or more.
Apply now for a myRewards Savings account to earn the up to $40 bonus offer
Share Your Thoughts or Questions
There have been 1 comment about the Commerce Bank myRewards Savings up to $40 Bonus.
S
April 29Has anyone gone for this? I saw some data points a few years back that they're chex sensitive but haven't seen anything about them lately.
ReplyReply to S
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