Comerica Platinum Circle Checking review

Would you like to explore the full range of features that Comerica Platinum Circle Checking provides? Responsible Economy has conducted an in-depth analysis of all the aspects of Platinum Circle Checking, covering fees, requirements, the offered interest rate, and comprehensive details. Furthermore, you’ll find a comprehensive comparison with the top checking accounts available in the United States. Let’s start delving into the specifics!


In this section, we analyze all the features of Platinum Circle Checking.


Comerica Platinum Circle Checking comes with no maintenance fees whatsoever. It’s a completely fee-free account. However, as you’ll notice later on, the requirements to qualify for this account are quite challenging.

Interest rate

Platinum Circle Checking offers a very low-interest rate. If your balance is below $50,000, you’ll receive an interest rate of 0.05% APY, and if you have over $50,000, the interest rate is 0.1% APY.

If you’re considering earning interest on your money, you should take a look at the best savings accounts.

Minimum deposit

The minimum initial deposit to open the account is $50.

Welcome bonus

Platinum Circle Checking does not offer any welcome bonus.


Comerica Bank provides the added convenience of Zelle service, enabling you to easily send and receive money without incurring any fees. Given that traditional bank transfers in the United States often entail substantial charges, we suggest exploring accounts that offer Zelle as a more economical alternative.

Wire Transfers

Incoming domestic bank transfers incur a fee of $14, and international transfers have a fee of $17. Outgoing domestic bank transfers have a fee of $35.


With Platinum Circle Checking, you have the freedom to make fee-free cash withdrawals from any ATM. All cash withdrawals are complimentary, as any incurred fees are reimbursed to you.


Platinum Circle Checking offers Overdraft service. For the first item, there is a $26 fee, for the second, a $34 fee, and for each subsequent day, an additional fee of $6 will be charged.

Summary table

Here is a summary table with all features:

FeesNo maintenance fees; completely fee-free account
Interest RateVery low interest rate: 0.05% APY (below $50,000 balance) and 0.1% APY (over $50,000)
Minimum DepositMinimum initial deposit of $50
Welcome BonusNo welcome bonus offered
ZelleConvenient Zelle service for fee-free money transfers
Wire TransfersIncoming domestic transfers: $14, international transfers: $17, outgoing transfers: $35
ATMsFee-free cash withdrawals from any ATM
OverdraftOverdraft service available with associated fees
Comerica Platinum Circle Checking features

Best checking accounts

We have conducted a comparison of Comerica Platinum Circle Checking with the best checking accounts you can open in the United States:

Logo Chase
  • It is very easy to avoid monthly commissions
  • Welcome bonus of 200 dollars fulfilling conditions
  • More than 16,000 ATMs in the United States
  • $25 minimum deposit
  • Very low interest rates
Bank of America logo
  • It is very easy to avoid monthly commissions
  • More than 16,000 ATMs in the United States
  • $100 minimum deposit
  • No welcome bonus
  • High interest rates if you have a lot of savings
Wells Fargo logo
  • It is very easy to avoid monthly commissions
  • Nearly 12,000 ATMs
  • $25 minimum deposit
  • Welcome bonus of 300 dollars fulfilling conditions
  • High interest rates on CDs
Logo Sofi
  • No fees and no requirements
  • Nearly 60,000 ATMs
  • Welcome bonus of 250 dollars fulfilling conditions
  • High interest rates on CDs
  • No fees no direct deposits
  • Fee-free withdrawals from ATMs around the world
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on CDs
Chime checking account Logo
  • No fees no direct deposits
  • More than 60,000 commission-free ATMs
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on Savings
Ally logo
  • No fees no direct deposits
  • More than 50,000 commission-free ATMs
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on CDs and Savings
  • Commissions of $10 if you do not meet requirements
  • No fees at Citibank ATMs
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on CDs


To be eligible for opening a Comerica Platinum Circle Checking account, you must meet the following minimum criteria:

  • $50,000.00 average daily Ledger Balance in any combination of personal or business deposit accounts.


  • A minimum combined balance of $2,500,000.00 each day in any combination of assets managed by Comerica Asset Management, in Comerica Private Banking loan balances or in Comerica Securities, Inc. account balance
  • Minimum Age Requirement: You need to be at least 18 years old to qualify for opening a Platinum Circle Checking. This ensures that you have attained the legal age for entering into financial agreements and effectively managing a bank account.
  • Residency in the United States: Platinum Circle Checking is specifically tailored for individuals who are legal residents of the United States. This requirement ensures that the account is accessible to those who reside within the country.
  • Initial Deposit: To initiate your Platinum Circle Checking, you will be required to make an initial deposit of $50. This initial deposit serves as a testament to your commitment to establishing the account and provides the essential funds to embark on your banking journey with Comerica.


To open a Comerica Platinum Circle Checking, you’ll need to furnish the following documents:

  • Social Security Number or Driver’s License: As part of the account opening procedure, you will need to provide either your Social Security Number (SSN) or a valid Driver’s License. This step is taken to authenticate your identity and ensure compliance with regulatory standards.
  • Proof of U.S. Residency: Submission of documentation such as a utility bill or an official record confirming your residential address within the United States is necessary. This documentation validates your legal residency status and establishes your eligibility for establishing the account.

Pros and cons

We have created a table outlining all the advantages and disadvantages of the Platinum Circle Checking:

Access to competitive savings accounts and deposits.0.10% interest rate
Withdrawals without fees at ATMsHigh fees in wires
Challenging requirements to fulfill
Comerica Platinum Circle Checking account advantages and disadvantages


Based on the analysis conducted, our assessment is that Comerica Platinum Circle Checking may not be a competitive account due to the high requirements for eligibility, the maximum interest rate of 0.10% APY, and the substantial fees associated with bank transfers. On the positive side, the account does not incur monthly banking fees, and you can make fee-free withdrawals from non-Comerica ATMs.

Interesting information about Comerica

We have created a table with relevant information about Comerica

Interesting information about Comerica

Other Comerica products

We’ve also provided a list of all the Comerica products we have analyzed:

To conclude, you have more related content about checking accounts:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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