Commerce Bank $200 Bonus Review

For residents in Colorado, Illinois, Kansas, Missouri, and Oklahoma, Commerce Bank is offering up to a  $200 bonus when open a myRewards Money Market account and earn .5% bonus on the average collected month-end balance for the previous 12 months. Not only does Commerce Bank checking help grow your savings, but it also includes many other free benefits like, online banking, access to electronic tax forms, up to seven years of account statements, 6 withdrawals or transfers per month, access to many Commerce ATM, 24-hour Account Information Line, eStatements, and much more. Follow the steps below to earn your $200 bonus! You can also earn a $300 bonus with Chase Premier Checking!

How To Earn First Commerce Bank $200 Bonus:

1. Open a Commerce Bank Checking account.
2. Earn .5% bonus on the average collected month-end balance for the previous 12 months
3. Optional (set up automatic transfers or set up direct deposit to help you save more money)

Commerce Bank Promotion Summary:

• Direct Bonus Link
  
• Account Type: myRewards Money Market
• Maximum Bonus: $200
• Availability: Colorado, Illinois, Kansas, Missouri, and Oklahoma
• Expiration Date: None
• Hard/Soft Pull: Soft (ChexSystem)
• Direct Deposit Requirement: None
• Additional Requirements: To get maximum bonus of $200, you must deposit around $40,000
• Monthly Fee: Yes, to avoid monthly fee of $6, make sure to keep a $500 daily balance everyday, OR $1,000 average daily balance for the month, OR one electronic deposit of atleast $25.
• Early Termination Fee: None

*We wrote an email to Commerce Bank asking about what type of inquiry they use, and the CSR told us it’s only a soft pull via ChexSystems. Again, ymmv. Please let us know in the comments below if you have any experiences with this bank.

Fine Print & Bonus Terms:

•  Reward credited the 13th month after account anniversary
• Incentive of $10 or greater reported as interest to the IRS.
• You must maintain the $500 minimum daily balance every day of a month or a $1,000 average daily balance for the monthly cycle or have at least one electronic deposit of $25 or more during the month to earn interest and to avoid a service charge that month.
• Must activate Online Banking & sign up for E-Statements to get free monthly statements; $3 per month fee for Paper Statements and $4 per month for Paper Statements with Check Images.

Final Analysis:

For residents of Colorado, Illinois, Kansas, Missouri, and Oklahoma, I highly recommend opening a Commerce Bank checking account to earn the maximum $200 cash bonus by depositing around $40,000. Also, the easiest way to avoid the fee would to maintain a daily balance of $500. To save more money you should also set up automatic transfers or set up a direct deposit. Overall, this is a good way to add $200 in your checking! Don’t forget to check our complete list of Bank Bonuses!