Commerce Bank (NY-NJ-PA-DE)

Pros: They have on line banking, but so does everyone else.
Cons: See review above.

We purchased a three month CD. At the end of that period they renewed it without notifying me at all. When we told them of their error they advised that they were STILL charging us $213.00 to give us our own money back. This was $198.00 in interest from the first 90 days they made money on our money and a penalty on the "early withdrawal" of the unauthorized roll over! Then they tried to put us off on some sleazeball in their investment department who tried to tell us that we need a money market account and got testy with my husband. He also went on to say that he makes people 10-15% a year! It was like talking to a dope dealer!
By the time it was over, I said, just move everything to the checking account so I can close it by writing a check and open a new account at a real bank on Monday. In short, the hell with them! Banks are a dime a dozen anyway-and since they lost a customer for a measly $213.00 I'm not sure I trust their business sense anyway!

Pros: convenience, friendly service, good advertisements
Cons: not sophisticated,not so free checking, not a place to go with "real" money

This convenient bank offers fine products and services for those starting out in life and are looking for basic solutions to their financial needs. The customer service reps (CSR) are very friendly BUT not very helpful in identifying those who have some more significant money. Case in point, went into branch and told CSR that I wanted to open a checking account and perhaps some other investments. Was directed to a variety of free checking accounts (free for one year only!). I mentioned again that I had a significant amount of money and was wondering if I could do better than just free checking (by the way you still have to pay for checks after the first order). I was told this is the best. They never asked how much I had to invest, what goals were for that money or introduce me to their Asset Management Account. They have great commercials, friendly service, a not so free checking. As for the more sophisticated client, go to one of the top 5 Banks (Chase, Wachovia, Citi, B of A) for better choices and advice.

Pros: Convenient Hours
Cons: Long Lines, Incompetent Staff, Hidden Fees, Locations Inconvenient to the East Side of Manhattan

Commerce has newly added a $15 fee for any "Free Checking Account" that falls below a $100 balance in New York. It is automatically removed from your account at the end of the month. After being a loyal and responsible customer for over three years, I have decided to bank elsewhere. I am tired of the consistently long and slow moving lines, the incompetent customer service, the inconvenient mile long walk to find a location, the constantly broken coin counting machines, and the sneaky hidden fees. It's the last straw. How clever of Commerce to add a monthly fee to a "FREE" checking account opened by several thousand people in the last few years. Had I known this fee was to be introduced, I wouldn't have bothered to bank at Commerce in the first place. I suggest you don't as well.

Pros: Good hours
Cons: Deceptive fees

Commerce Bank opened its doors in NYC about three years ago, promising free checking accounts and friendly, convenient service. I was looking for a bank at the time so I signed up. Apparently, the promise had an expiration date. This year, Commerce decided to start charging me $40 PER MONTH for my two checking accounts. They also raised their other fees and penalties so that I pay through the teeth to keep my business there, and the quality of their service has diminished tremendously. Needless to say, I'm now looking for another bank.

I feel like Commerce is a drug dealer. They lure you in with free service and friendly smiles until you're hooked, and then they bleed you dry. I wonder if this is how they operate in every new market they enter.

Pros: Open 7 days a week and long hours.
Cons: Not professional especially 109 and Broadway.

CSR aren't knowledgable about products and very long lines.I stopped bank with them because of they policy changes a lot.

Pros: none
Cons: lack of customer service - rude

Terrible customer service - Employee didn't know what "government issued ID" is and asked me is I had "a real ID" - Manager offered to take me to Starbucks for coffee instead of repremanding the rude stupid employee.
I am taking my banking business elsewhere!

Pros: convenient hours
Cons: consistent mistakes/incorrect fee's

I have banked with Commerce now for almost 5 years and was "wow'd" by their free checking and convenient hours/days. Well the checking is not free after one year (must maintain $100 balance) and if you are not paying attention to the exact date that your 1 year anniversary comes up then you will get a $12 monthly fee with out any warning whatsoever. Not their fault, I know, since they clearly state this policy when you open an account. Still, it would be nice if they sent you a "friendly" reminder when your 1 year anniversary is coming up. Not everyone can afford to keep $100 balance and many live paycheck to paycheck so a little courtesy warning would be nice!
What IS their fault though are the numerous errors they make; if you don't pay very close attention you will get unexplainable fee's. This is not just my own experience but my husband's and others I have spoken to, including my co-worker. Am currently looking for a new bank.

Pros: Convenient hours and they are constantly opening new branches.
Cons: $100.00 minimum checking balance or pay $15.00 fee is not "totally free checking".

Commerce Bank is no longer providing "no fee" checking. There is now a $15.00 monthly fee for checking accounts with balances below $100.00. I am livid about the change because these were not the terms that were promoted when I first opened the account. Plus, the way the fee was introduced was completely underhanded. They knew they wouldn't stand a chance at generating new business with that fee policy in place. So, what do they do? Promote "free checking" and offer all kinds of incentives to draw in new business......then implement the fee policy later. Very shady. What a jip!!

Pros: Friendly staff. Good hours. Lots of branches.
Cons: Often incompetent. Don't allow some basic online transactions. Very slow to deposit. Poor website.

I have used Commerce bank for 3 years now. In that time I've found them slow to process most things. They've also both incorrectly credited and debited my account. On both occasions, it took them almost one month to correct the issue. They are also very inconsistent about what you can and can't do online.

Pros: Good for travelling, good hours, very nice people
Cons: Internet Banking could be a little more secure

Possibly the only bank I know that does not tack on massive, disgusting fees for withdrawing/using your money in foreign countries. I am in Copenhagen now using my American Commerce bank card, and whether I take out small amounts of "kroner" or large amounts, I get the same up to the minute exchange rates on the transactions.

If I use my "Chase" banking card, there is a fee of $3 in addition to whatever the foreign bank wishes to charge as well.

And when I am back in the country, my Commerce is open 7 days a week and usually a few hours on most holidays.

Pros: The checking accounts are free
Cons: Its not for small business, if you want to grow stick with HSBC (my bank)

I have heard a tremendous amount of information about Commerce Bank in New York City, and how great they were. The customer service in the city was ok, nothing that I wasn't used to at my prior bank. I found out QUICKLY that Commerce is for the really little guy who has $500 bucks in their account, not for the average to large balance holder. I also have a small business, I realized really quickly that they don't really do small business very well. Furthermore as far as product selection on the investment side, I found I was pushed towards a very limited product set. As far as checking accounts go, it may not be a bad bet. But as far as small business, you want a bank to grow with and commerce is just not that bank.

Pros: Free coin counting, amazing employees who care.
Cons: 100 dollar min balance after first year in checking.

I am very passionate about Commerce Bank. They are much friendlier then Wachovia that is for sure. They offer a wide variety of accounts. Their customer service is top notch. Their employees are very knowledgeable. They will go out of there way to help you. I also love free services they offer. My two favorite services are free coin counting, and the free visa gift cards. I find that they are the only bank that offers these services to their customers. You do not have to be a customer to use their penny arcade. I highly recommend this bank. They are spreading fast around their region.

Pros: Convenient Hours, Low minimum balance checking.
Cons: Online history for only 60 days. Have to pay for checks.

I have been a customer of Commerce Bank for about 2 years now and have never had a problem. The staff seems friendly, and their hours are very convenient. They have drive throughs that not only provide one bay, but usually 2 - 4 so that the lunch rush for deposits doesn't completely bog it down. I also love being able to access the bank on weekends, and they have very convenient hours.
The checking is free, but I do believe there is a $100.00 minimum balance. This has never been a problem for me. You DO have to pay for checks, however.
The online banking is convenient. The only problem I have with it is that you can only view your history online for up to 60 days, and I'd like to be able to go back further.
They provide a Visa Check Card for no fee, which is very convenient.

Pros: NONE
Cons: MANY

Their business checking agreement, terms and conditions do not state any monthly fees after the first or second year will be imposed. They fail to mention after a period of time you will be charged a monthly fee in the amount of $25.00 if your balance is under $1000.00. They do not send a letter or notice that your account will be charged a fee starting on what ever month etc. They should be sued for breach of contract.

Pros: Hours they are open;
Cons: Fees; poor communication;

I have been a customer of Commerce Bank for as long as I can remember (10 years). They have never, until recently, charged me a lot of rediculous fees that I never received notice about. Now they charge you if your account goes below a certain amount ($100??? I don't know, never received the notice!!!), even on a savings account. On my last statement there is a $4.00 "cycle service charge" and $0.01 in interest!!!

The image of "free checking" is over. Beware!!! There are charges at this bank just like any other.