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Commerce Bank Review: Checking, Savings, CD and Money Market Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

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Commerce Bank’s checking account options

CommerceBasic Checking

A no-frills checking account.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $8; can be waived if you have a recurring direct deposit of $300 or more, or 10 debit card purchases per statement cycle
  • ATM fee: None on Commerce Bank ATMs; $2.75 for each out-of-network ATM transaction
  • ATM fee refund: None
  • Overdraft fee: $37

This is a basic checking account that does not earn interest. It does, however, come with mobile and online banking and bill pay capabilities, a Visa debit card, and free email and text alerts to help manage your account. As an added bonus, you have the chance to get a $50 Visa gift card for every friend or family member you refer to open a new Commerce Bank personal checking account, up to $500. While the service fees on this account are fairly easy to avoid, be sure to note that receiving paperless statements with images will cost you $1 per month, and paper statements will cost $3 per month (or $4 per month with images). Paperless statements with no images are free.

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on Commerce Bank’s secure website

Member FDIC

CommerceInterest Checking account

The interest rate on this checking account is pretty dismal.
APYMinimum Balance to Earn APY
0.01%
$100
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $10; can be waived if you have a recurring direct deposit of $500 or more, or a balance of $1,000 per statement cycle
  • ATM fee: None on Commerce Bank ATMs; $2.75 for each out-of-network ATM transaction
  • ATM fee refund: None
  • Overdraft fee: $37

While this account does earn interest, the amount is next to nothing. Aside from that, it comes with the same perks as the basic account, including mobile and online banking and bill pay capabilities, a Visa debit card, and free email and text alerts to help manage your account. You can also get the $50 Visa gift card for every friend or family member you refer to open a new Commerce Bank personal checking account, up to $500. Take note that receiving paperless statements with images will cost you $1 per month, and paper statements will cost $3 per month (or $4 per month with images).

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on Commerce Bank’s secure website

Member FDIC

CommerceRelationship Checking

This account boasts a higher interest rate, but it’s still nothing to write home about.
APYMinimum Balance to Earn APY
0.01%
$100
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $20; can be waived if you maintain a daily balance of $5,000, or a combined account balance of $15,000 (this applies to checking, savings, money market and CD accounts)
  • ATM fee: None on Commerce Bank ATMs; $2.75 for or each out-of-network ATM transaction
  • ATM fee refund: Up to $10 per month
  • Overdraft fee: $37

This account gives you the chance to earn a slightly higher interest rate than the other checking account, but it’s still not much at all. You’ll either pay a higher monthly fee, or need to have a larger account balance with the bank.

The account comes with the same typical perks like mobile and online banking services, a debit card, and a chance to earn a $50 gift card for every new family member or friend you refer to open a new checking account, up to $500. This account also comes with free Commerce Globe checks. This account keeps all statements free, whether you opt for paper or electronic.

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on Commerce Bank’s secure website

Member FDIC

CommerceStudent Checking

A checking account for students ages 25 or younger.
  • Minimum opening deposit: $100
  • Monthly account maintenance fee: $3 if account is inactive for 60 days, meaning you don’t make a withdrawal, deposit, bill payment, ACH payment or other transaction.
  • ATM fee: None on Commerce Bank ATMs; $2.75 for each out-of-network ATM transaction
  • ATM fee refund: None
  • Overdraft fee: $37

This student checking account does not earn interest. It is, however, fairly easy to keep it fee-free if you keep it “active” by making regular withdrawals, deposits and other transactions. Like the other checking accounts, it comes with typical perks like mobile and online banking, a free debit card, free email and text alerts, and the ability to earn a $50 Visa gift card for every friend or family member you refer to open a new checking account, up to $500.

How to get Commerce Bank’s checking accounts

You can open any of Commerce Bank’s checking accounts online or in person. To do so, you’ll need to gather personal information such as your home address and Social Security number, as well as two forms of ID (one of which must be government-issued; the other can be a debit or credit card), and a way to fund your account.

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on Commerce Bank’s secure website

Member FDIC

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How Commerce Bank’s checking accounts compare

While Commerce Bank’s accounts come with an easy-to-navigate user interface, the ability to avoid fees and the opportunity to earn gift rewards, the rates on those that earn interest don’t even come close to the ones on our list of the best online checking accounts. It’s true you could do a lot worse than Commerce Bank’s checking accounts, but you could definitely do a lot better too.

Commerce Bank’s savings account options

Personal Savings account

A personal savings account with minimal fees, and a savings plan for children.
APYMinimum Balance to Earn APY
0.02%
$100
  • Minimum opening deposit: $100 ($1 for minors)
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: $3; can be waived with a daily balance of $300 or a monthly direct deposit of $25 or more
  • ATM fee: None on Commerce Bank ATMs; $2.75 for each out-of-network ATM transaction
  • ATM fee refund: None
  • Overdraft fee: $37

This is a fairly standard savings account. At first glance, it might look chock-full of fees, but they are fairly easy to avoid as long as you meet the bank’s balance requirements and opt for electronic statements. Federal Reserve Regulation D mandates that savings accounts be limited to six withdrawals and transfers per month without penalty from the bank; this account, however, allows you three before charging $2 per additional withdrawal. Interest is compounded daily on this account.

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on Commerce Bank’s secure website

Member FDIC

myRewards Savings account

This account is intended for saving up for specific savings goals.
APYMinimum Balance to Earn APY
0.02%
$100
  • Minimum opening deposit: None
  • Minimum balance to earn APY: $100
  • Monthly account maintenance fee: $3; can be waived with a daily balance of $300 or a monthly direct deposit of $25 or more
  • ATM fee: None on Commerce Bank ATMs; $2.75 for each out-of-network ATM transaction
  • ATM fee refund: None
  • Overdraft fee: $37

This is a special savings account that allows you to separate your funds in up to five accounts, named for specific goals, such as saving up for a vacation, house or new car. Most savings accounts are governed by Federal Reserve Regulation D, which limits withdrawals and transfers to six per month without penalty from the bank. This one, however, limits you to three per month before charging you $2 for each additional withdrawal. This account also comes with free mobile and online banking capabilities and free paperless statements (it’s $2 to receive paper statements). Interest is compounded daily on this account.

How to get Commerce Bank’s savings accounts

Customers can open the bank’s savings account in person or online. You’ll just need to be prepared to provide your Social Security number, two forms of ID and a way to fund the account.

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on Commerce Bank’s secure website

Member FDIC

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How Commerce Bank’s savings accounts compare

We like that the fees are fairly easy to avoid on Commerce Bank’s savings accounts. But, as with the checking accounts, the rates don’t even come close to competing with those on our list of the best online savings accounts. Take the time to shop around for the best savings product out there, and possibly consider one on our list.

Commerce Bank’s CD rates

Certificates of Deposit

Standard CDs with pretty mediocre rates.
TermAPY
3 months0.05%
  6 months0%
  1 year0%
  2 years0%
  3 years0%
  4 years0%
  5 years0%
  • Minimum opening deposit: $1,000, with the exception of $2,500 for the 3- and- 6 month option
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: For terms of 7-31 days, the early withdrawal penalty is the larger of (1) the accrued interest or (2) half of the interest from the issue date to the maturity date, but no less than 7 days of interest if all of the deposited funds are withdrawn before the maturity date. For terms of 32-90 days, the penalty is 3 months of interest if all of the deposited funds are withdrawn before the maturity date. For terms of 91 to 364 days, its 3 months of interest if all of the deposited funds are withdrawn before the maturity date. For terms of 12 to 60 months, it’s 6 months of interest for terms of 1 year or 1 year of interest for terms over 2 years may be imposed if all of the deposited funds are withdrawn before the maturity date.

Commerce Bank’s CDs are pretty standard, coming in terms from three months to five years. You can add or withdraw funds at maturity without penalty. You can also access these accounts through the bank’s online platform.

How to get Commerce Bank’s CDs

As with most of the bank’s other personal accounts, you can open a CD online or in person. To do so, you’ll need to provide your Social Security number, two forms of ID and a way to fund the account.

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on Commerce Bank’s secure website

Member FDIC

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How Commerce Bank’s CD rates compare

While Commerce Bank’s deposit requirements and early withdrawal penalties are on par with what else is available on the market, the rates just don’t beat out those on our list of the best CD rates. You’re putting your money away for a reason, so why wouldn’t you want to earn the most bang for your buck? Take the time to do your research and find the best product out there to suit your needs.

Commerce Bank’s money market account options

myRewards Money Market account

This account allows you to earn bonus interest after a year.
APYMinimum Balance to Earn APY
0.01%
$500
  • Minimum opening deposit: None
  • Minimum balance to earn APY: $500
  • Monthly account maintenance fee: $6; can be waived with maintained daily balance of $500, maintained monthly balance of $1,000, or with one monthly direct deposit of at least $25
  • ATM fee: None on Commerce Bank ATMs; $2.75 for each out-of-network ATM transaction
  • ATM fee refund: None
  • Overdraft fee: $37

This account allows you to earn a bonus of a half-percent of the average month-end balance for the previous 12 months once you’ve had the account open for a year (up to a maximum yearly reward of $200). To qualify for this perk, you must also open and maintain either a CommerceBasic, CommerceInterest or CommerceRelationship checking account. As a savings account, this one is subject to Federal Reserve Regulation D, which limits withdrawals and transfers to six per month without penalty from the bank. As with most of the bank’s other accounts, you can avoid the fees fairly easily by maintaining the required minimum balance and opting for electronic statements over paper. This account also has free online banking capabilities.

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on Commerce Bank’s secure website

Member FDIC

Premium Money Market account

This money market account comes with the chance to earn a bonus rate.
APYMinimum Balance to Earn APY
0.01%
$0.01
0.03%
$25,000-$49,999
0.05%
$50,000
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: Varies; see table
  • Monthly account maintenance fee: $10; can be waived with average daily balance of $5,000
  • ATM fee: None on Commerce Bank ATMs; $2.75 for each out-of-network ATM transaction
  • ATM fee refund: None
  • Overdraft fee: $37

This account allows you to earn interest at three different tier levels, as well as earn a higher rate if you also open and maintain a CommerceRelationship checking account (you’ll need to contact the bank to inquire about this option). Interest is compounded monthly on this account, and its fees can be be avoided if you maintain the minimum balance requirement and opt for free paperless statements. This account also allows you to write six free checks per month and comes with free online banking services. As a savings account, it’s subject to Federal Reserve Regulation D, which limits withdrawals and transfers to six per month without penalty from the bank.

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on Commerce Bank’s secure website

Member FDIC

CommerceOptions Premium Money Market account

This account is available exclusively to customers with a CommerceRelationship checking account.
APYMinimum Balance to Earn APY
0.07%
$0.01
0.10%
$25,000 to $49,999
0.15%
$50,000 to $99,998
0.20%
$100,000
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $20; can be waived with significant product relationships (contact the bank for details).
  • ATM fee: None on Commerce Bank ATMs; $2.75 on out-of-network ATM transactions
  • ATM fee refund: None
  • Overdraft fee: $37

This account is only available to Commerce Bank customers who also have a CommerceRelationship checking account and offers a slightly higher rate. It otherwise comes with most of the same things, such as free online banking services. You can also get quarterly paper statements without a fee. As with all savings accounts, this one is subject to Federal Reserve Regulation D, which limits withdrawals and transfers to six per month without penalty from the bank.

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on Commerce Bank’s secure website

Member FDIC

Personal Investment Savings account

Another money market account with a less-than-impressive rate.
APYMinimum Balance to Earn APY
0.02%
$500
  • Minimum opening deposit: $100
  • Minimum balance to earn APY: $500
  • Monthly account maintenance fee: $6; can be waived with maintained daily balance of $500, maintained monthly balance of $1,000, or with one monthly direct deposit of at least $25
  • ATM fee: None on Commerce Bank ATMs; $2.75 for each out-of-network ATM transaction
  • ATM fee refund: None
  • Overdraft fee: $37

This account earns a very small interest rate and also comes with free online banking, six free checks per month and free paperless statements (paper statements will cost $4 per month with images, $3 per month without, and online statements with images will cost you $1 with images). Since it is a savings account, this one is governed by Federal Reserve Regulation D, which limits withdrawals and transfers to six per month without penalty from the bank.

How to get Commerce Bank’s money market accounts

For the myRewards Money Market, Premium Money Market and Personal Investment Savings accounts, you can open an account online or in person at a branch. For the CommerceOptions Premium Money Market account, you’ll need to visit a branch in person to open it. For all accounts, be sure you’re prepared with your Social Security number, two forms of ID and a way to fund the account.

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on Commerce Bank’s secure website

Member FDIC

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How Commerce Bank’s money market accounts compare

Many traditional banks are getting away with paying very low rates on their money market accounts, and Commerce Bank is no exception. While the fees associated with each of these products are fairly easy to avoid, you can do better and earn better returns on your funds. Consider one of the accounts on our list of the best money market rates instead, as many offer more than twice these rates.

Overall review of Commerce Bank’s banking products

Not surprisingly, we’re not floored by any of the rates on Commerce Bank’s deposit accounts. While the fees are easy to avoid and, for the most part, fairly reasonable to begin with, that’s just not enough to make up for the pretty dismal rates across the board. Do your due diligence and research your banking options to ensure you make the most worthwhile choice.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

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Reviews

Pacific National Bank Review: Checking, Savings, CD and Money Market Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

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Pacific National Bank’s checking account options

Personal Checking account

A non-interest bearing checking account.
  • Minimum opening deposit: $500
  • Monthly account maintenance fee: $15, unless minimum monthly balance of $500 is maintained, and you opt for e-statements, e-documents, online banking and basic bill pay
  • ATM fee: None at Pacific National Bank ATMs; four free transactions at Publix (Presto!) ATMs; otherwise, outside bank fees may apply.
  • ATM fee refund: None
  • Overdraft fee: $35

For being a basic checking account, this one comes with a pretty hefty minimum opening deposit and monthly fee. As we noted above, however, it’s pretty easy to avoid that fee with its requirements, if you’re able to easily come up with the deposit to open the account, that is. You may also want to note that debits in excess of 30 per month will cost $0.25 per additional transaction, and receiving paper statements will result in an additional $5 fee.

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on Pacific National Bank’s secure website

Member FDIC

PNB SuperNow Checking account

This account does earn a small amount of interest on balances of at least $2,500.
APYMinimum Balance to Earn APY
0.20%$2,500
0.20%$1 million
  • Minimum opening deposit: $2,500
  • Monthly account maintenance fee: $15, unless minimum monthly balance of $2,500 is maintained, and and you opt for e-statements, e-documents, online banking and basic bill pay
  • ATM fee: None at Pacific National Bank ATMs; four free transactions at Publix (Presto!) ATMs; otherwise, outside bank fees may apply
  • ATM fee refund: None
  • Overdraft fee: $35

This checking account does earn interest if you can maintain its high minimum balance requirement, increasing slightly once you hit the $1 million mark. If you can maintain that balance, it’s pretty easy to adhere to the requirements to avoid the monthly fee on this account. As with the bank’s other checking account, debits in excess of 30 per month will cost $0.25 per additional transaction, and receiving paper statements will result in an additional $5 fee.

How to get Pacific National Bank’s checking accounts

If you are a U.S. citizen residing in Florida, you can open either of these accounts in person at a branch. To do so, you’ll need to provide your Social Security number, government-issued ID and a way to fund the account.

SEE DETAILS Secured

on Pacific National Bank’s secure website

Member FDIC

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How Pacific National Bank’s checking accounts compare

When compared to the accounts on our list of the best online checking accounts, these products instantly lose points for earning little to no interest. They also both have fairly high opening deposits and balance requirements to avoid a rather high monthly fee, so if you’re not confident you can maintain that requirement, you’re best off skipping these checking accounts.

Pacific National Bank’s savings account option

PNB Personal Savings

The bank’s sole savings account comes with a high balance requirement to earn any interest.
APYMinimum Balance to Earn APY
0.20%$1,000
0.20%$50,000
  • Minimum opening deposit: $500
  • Minimum balance to earn APY: $1,000
  • Monthly account maintenance fee: $10, unless minimum monthly balance of $500 is maintained, and and you opt for e-statements, e-documents, online banking and basic bill pay
  • ATM fee: None at Pacific National Bank ATMs; four free transactions at Publix (Presto!) ATMs; otherwise, outside bank fees may apply
  • ATM fee refund: None
  • Overdraft fee: $35

This account does earn interest, but again, at pretty high rates for pretty high balances. As with the checking accounts, if you can maintain the minimum required balance and adhere to the account’s other requirements, it’s fairly easy to avoid the monthly maintenance fee. You may want to also note that receiving paper statements would cost you an additional $5 per month. As a savings account, it’s subject to Federal Reserve Regulation D, which limits certain withdrawals and transfers to six per month. Transactions in excess of this limit will cost you $20 for each item from the bank.

How to get Pacific National Bank’s savings account

If you are a U.S. citizen residing in Florida, you can open Pacific National Bank’s savings account in person at a branch. To do so, you’ll need to provide your Social Security number, government-issued ID and a way to fund the account.

SEE DETAILS Secured

on Pacific National Bank’s secure website

Member FDIC

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How Pacific National Bank’s savings account compares

With their dismal rates on high balances, these accounts don’t come close to comparing to those on our list of the best online savings accounts. If you can find an account with additional perks and that also allow you to easily avoid fees, you’re better off passing over this one.

Pacific National Bank’s CD rates

Certificates of Deposit

Promotional CDs with a $1,000 minimum opening deposit.
Term APY
12 months1.30%
13 months1.30%
18 months1.45%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty:  7 days worth of interest on the amount withdrawn within the first six days after deposit. Otherwise, it’s 30 days worth of interest on the amount withdrawn on terms up to 23 months in length; 60 days worth of interest on the amount withdrawn on term lengths between 24 and 35 months and 90 days worth of interest on the amount withdrawn on terms of 36 months or more.

While Pacific National Bank is currently only offering three promotional CDs, their opening deposit requirements and rates are pretty standard as far as today’s certificates go.

How to get Pacific National Bank’s CDs

You can open one of Pacific National Bank’s CDs online or in person; you’ll just need to provide your government-issued ID, Social Security number and a way to fund the account.

SEE DETAILS Secured

on Pacific National Bank’s secure website

Member FDIC

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How Pacific National Bank’s CD rates compare

The current promotional offerings available from Pacific National Bank don’t really stack up to those on our list of the best CD rates. The $1,000 opening deposit requirement for its current promotional CDs looks to be pretty standard, though. In any case, contact the bank directly to inquire about available CDs to truly determine if they’ll give you the best bang for your buck.

Pacific National Bank’s money market account options

PNB Personal Money Market account

Another account with a substantial opening deposit and minimum balance requirements.
APYMinimum Balance to Earn APY
0.50%$10,000-$49,999
0.50%$50,000 to $99,999
0.50%$100,000 to $999,999
0.50%$1,000,000
  • Minimum opening deposit: $5,000
  • Minimum balance to earn APY: $10,000
  • Monthly account maintenance fee: $25, unless minimum balance of $5,000 is maintained, and you opt for e-statements, e-documents, online banking and basic bill pay
  • ATM fees: None at Pacific National Bank ATMs; four free transactions at Publix (Presto!) ATMs; otherwise, outside bank fees may apply
  • ATM fee refund: None
  • Overdraft fee: $35

This account does earn interest, once again at low rates in exchange for high balances. As with most of its other accounts, it comes with a hefty monthly maintenance fee that can only be waived with an equally hefty minimum balance is maintained, along with other requirements. As with the regular savings account, receiving paper statements will cost you an extra $5 per month. As a savings account, this one is subject to Federal Reserve Regulation D, which limits certain withdrawals and transfers to six per month. Any additional withdrawals will cost an extra $20 each, imposed by the bank.

How to get Pacific National Bank’s money market account

Customers can open Pacific National Bank’s money market account online or in person at one of its Florida branches. You’ll need to provide your government-issued ID, Social Security number, and a way to fund the account.

SEE DETAILS Secured

on Pacific National Bank’s secure website

Member FDIC

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How Pacific National Bank’s money market account compare

Just like with the bank’s other interest-earning accounts, these rates lag far behind those on our list of the best money market rates. And from what we can see, its high fees (and challenges to avoid them), along with the high balance and deposit requirements, we have a hunch that you can easily find a better product to sock away your cash. Do your research, and possibly consider one of the accounts on our list instead.

Overall review of Pacific National Bank’s banking products

None of the rates on Pacific National Bank’s personal accounts make for any standout products, we’re sorry to to say. Not only that, but from what we can tell, most of the bank’s accounts come with high deposit and balance requirements, paired with fees that require some hoops to jump through to avoid them. Even if you’re a Florida resident who’s qualified to open a checking or savings account, it might not be convenient for you to pop into a branch to open one in person. In any case, we’re not sure if it’s worth the trouble. But if you’re truly interested in working with Pacific National Bank, be sure to do a little comparison shopping beforehand.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

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Reviews

Frost Bank Review: Checking, Savings, CD and Money Market Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Written By

Frost Bank checking account options

Personal Checking

Frost Bank’s lone checking account option offers a miniscule amount of interest for a pretty high minimum balance amount.
APYMinimum Balance to Earn APY
0.01%
$5,000
  • Minimum opening deposit: $25
  • Monthly account maintenance fee: $8 ($4 for students under age 25); can be waived with a monthly direct deposit of at least $100, by maintaining a $1,000 balance, or by maintaining a combined balance of $5,000 among all Frost Bank personal accounts
  • ATM fee: None on Frost Bank ATMs; $2 on out-of-network ATMs
  • ATM fee refund: Frost Bank occasionally refunds ATM fees for out-of-state customers; contact the bank for further details
  • Overdraft fee: $34 on amounts over $5, up to a maximum of $170 per day

This account earns a small amount of interest on balances of $5,000 or more, which is compounded monthly. And while the monthly fee is fairly easy to avoid as a working adult, it could prove to be more challenging for students — so the lowered fee for students is a nice touch for those who may not be able to afford it. The account also offers:

  • Mobile banking access via an iPhone or Android app
  • Mobile check deposit of up to $25,000 daily
  • Free overdraft protection by linking the account to another Frost Bank account to cover overdraft amounts
  • Unlimited transactions and check writing
  • Unlimited online and mobile bill pay
  • Unlimited online and mobile transfers to other financial institutions
  • Frost Bank debit card
  • Online statement delivery

How to get Frost Bank’s checking account

Texas residents can open an account either online, via the app, or in person. To do so, you’ll need a Texas state address, a government-issued ID such as a driver’s license, as well as your Social Security number.

SEE DETAILS Secured

on Frost Bank’s secure website

Member FDIC

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How Frost Bank’s checking account compares

With such a low interest rate and high minimum balance to even earn it, we give this account a big “Why bother?” Its monthly fees are fairly easy to avoid, so we’ll give Frost Bank that, but there are so many truly free accounts out there that offer the ability to earn better rates on much lower balances, along with other perks like no ATM fees from their end, and ATM fee refunds to boot. We urge you to shop around, possibly considering those on our list of the best online checking accounts.

Frost Bank’s savings account options

Personal Savings account

The bank’s savings account offers a low interest rate on all balances.
APYMinimum Balance to Earn APY
0.01%
$0.01
  • Minimum opening deposit: $50
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $3.50; can be waived if a minimum monthly balance of $500 is maintained
  • ATM fee: None on Frost Bank ATMs; $2 on out-of-network ATMs
  • ATM fee refund: Frost Bank occasionally refunds ATM fees for out-of-state customers; contact the bank for further details
  • Overdraft fee: $34 on amounts over $5, up to a maximum of $170 per day

This account earns a small amount of interest on all balances, which is paid quarterly. As with the checking account, its low monthly service fee is fairly easy to avoid with a small minimum monthly balance requirement. You can make online transfers into and out of the account with ease, and it can be used as overdraft protection to cover your checking account at no charge. Federal Reserve Regulation D normally limits certain transfers and withdrawals up to six per month, but make note of the fact that this account only permits you to make two free ones per month.

SEE DETAILS Secured

on Frost Bank’s secure website

Member FDIC

Health Savings account

This savings account is intended to solely cover medical expenses.
APYMinimum Balance to Earn APY
0.01%
$0.01
  • Minimum opening deposit: $50
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $3 without imaged checks or $5 with imaged checks; can be waived if a minimum monthly balance of $3,000 is maintained
  • ATM fee: None on Frost Bank ATMs; $2 on out-of-network ATMs
  • ATM fee refund: None
  • Overdraft fee: $34

This health savings account allows you to earn a small amount of interest on all money you put in it. You may be eligible to open this account if you fit all of the following criteria:

  • You’re covered under a high-deductible health plan (minimum of $1,300 if you’re single, and $2,600 for a family)
  • You are not covered by any other health plan
  • You are not entitled to Medicare benefits
  • You are not a dependent on another person’s tax return.

While its monthly fee is fairly low, the minimum balance to be able to waive it is on the higher end. Contributions to this account could be tax deductible, though you should consult a tax advisor or the IRS to make sure. You can contribute up to $3,400 annually if you’re single, or $6,750 for a family. Although Federal Reserve Regulation D normally limits certain withdrawals and transfers up to six per month on savings account, this account permits three free check withdrawals every month, then charges $5 on each one thereafter. Unused balances on this account automatically carry over from year to year, and transfers made from your checking account are counted toward your current year contribution limits.

How to get Frost Bank’s savings accounts

To open one of Frost Bank’s savings accounts, you can call the bank at 866-376-7889 or visit a bank location in person. Be sure you’re prepared with your minimum opening deposit, proof of a Texas state address, government-issued ID and Social Security number.

SEE DETAILS Secured

on Frost Bank’s secure website

Member FDIC

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How Frost Bank’s savings accounts compare

You can look at the interest rates of these accounts alone to give them a hard pass. Their monthly fees, and the requirements to waive them, make them lose points as well. While the bank does have easy-to-navigate online and mobile banking platforms, that just isn’t enough to make these accounts stack up against better offerings out there. Consider one of the free accounts on our list of the best online savings accounts, many of which offer higher rates and no fees whatsoever.

Frost Bank’s CD rates

Personal CDs

Frost Bank’s CDs are available in fairly short term lengths with pretty mediocre rates.
TermAPY Minimum Opening Deposit
14 days0.05%
$100,000
30 days0.20%
$100,000
60 days0.20%
$100,000
90 days0.10%
$1,000
90 days0.20%
$100,000
180 days0.17%
$1,000
180 days0.22%
$100,000
12 months0.17%
$1,000
12 months0.22%
$100,000
24 months0.20%
$1,000
24 months0.25%
$100,000
  • Minimum opening deposit: Varies; see table
  • Minimum balance amount to earn APY: Varies; see table
  • Early withdrawal penalty: For certificates issued for less than 30 days, it’s the interest that the withdrawn portion has earned, but no less than seven days of interest; for certificates with terms in length from 30 days to 1 year, it’s 30 days’ interest; for certificates issued for more than 1 year, it’s 90 days’ interest

A $1,000 minimum opening deposit is pretty standard as far as CDs go, but the jump to $100,000 is pretty drastic, especially since the rate increase doesn’t exactly match that jump. While most of these rates do beat out national averages, there are still better offerings out there offering higher rates for lower amounts on deposit.

How to get Frost Bank’s CDs

To be able to open a Frost Bank CD, you’ll need to call the bank at 866-376-7889, or visit a bank location in person. Be sure to be prepared to begin by having your opening deposit, government-issued ID, proof of Texas state address and Social Security number handy.

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on Frost Bank’s secure website

Member FDIC

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How Frost Bank’s CD rates compare

While the rates on these CDs can be described as competitive, there are definitely better rates to be had out there, many of which can be applied to much lower balances than $100,000. We urge you to shop around and possibly consider one of the products on our list of the best CD rates to ensure you truly get the best bang for your buck.

Frost Bank’s money market account options

Frost Bank’s money market allows you to earn interest at several different tiers.
APYMinimum Balance to Earn APY
0.06%
$0.01
0.06%
$10,000
0.06%
$25,000
0.06%
$50,000
0.06%
$100,000
0.06%
$250,000
  • Minimum opening deposit: $50
  • Minimum balance to earn APY: Varies; see table
  • Monthly account maintenance fee: $15; can be waived if minimum monthly balance of $15,000 is maintained
  • ATM fee: None on Frost Bank ATMs; $2 on out-of-network ATMs
  • ATM fee refund: Frost Bank occasionally refunds ATM fees for out-of-state customers; contact the bank for further details
  • Overdraft fee: $34 on amounts over $5, up to a maximum of $170 per day

Although this account offers a pretty low opening deposit requirement, the balance requirement to avoid the monthly fee is rather hefty. You can earn interest on any amount (paid monthly on this account), but the rates don’t really start to even slightly creep up until your balance reaches six figures. The account comes with free imaged checks, and it’s available to be used as overdraft protection to cover your checking account. As a savings account, it is subject to Federal Reserve Regulation D, which limits certain withdrawals and transfers up to six per month.

How to get Frost Bank’s money market account

As with the savings accounts and CDs, you’ll have to either call the bank at 866-376-7889 or visit a bank location in person to be able to open a money market account. For either method, be sure you’re ready with your opening deposit, proof of Texas state address, government-issued ID and Social Security number.

SEE DETAILS Secured

on Frost Bank’s secure website

Member FDIC

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How Frost Bank’s money market account compares

The bank boasts competitive rates on its accounts, but they really don’t even come close to the ones on our list of the best money market rates. Not only that, but the highest rates it offers only apply to balances of over $100,000, and you have to be able to maintain a large monthly balance to be able to avoid the monthly fee. Needless to say, this account isn’t worth your while; do your due diligence in shopping around, possibly considering one of the accounts on our list instead.

Overall review of Frost Bank’s banking products

Give most of Frost Bank’s personal accounts a pass. With the exception of some of its CDs, all of the accounts seem to come with some sort of catch — primarily high minimum balance requirements to avoid the monthly fees — for what are mostly mediocre rates. Not only that, but the fact that you can’t open accounts other than the checking account online is likely to be an inconvenience for people who don’t live near a branch.

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