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Comerica Bank

Detroit, MI

Comerica Bank
Overall Satisfaction Rating 1.26/5
  • 5 stars
    6
  • 4 stars
    2
  • 3 stars
    3
  • 2 stars
    12
  • 1 stars
    160
Based on 183 ratings
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    Comerica Bank Reviews

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    Page 1 Reviews 0 - 10
    Rated with 1 star
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    Verified Reviewer
    Original review: April 30, 2020

    Summary: In order to complete repairs on my home, I applied for a Home Equity Line of Credit from Comerica Bank. This was during the COVID-19 emergency. During this process, documentation requests were redundant and changed several times. After meeting the onerous documentation demands and completing the process, I was told that the loan was approved but would not be funded until I return to work, even though this was not an unsecured loan like a credit card. My business is closed because of guidelines from the Governor of Texas. Never was I told that would be a requirement for the loan, even though there is no doubt that I will be returning to work (I own the business). Again, this last requirement was never revealed to me until after completing the arduous process. I recommend you go some where else for a HELOC.

    Details: I've been making many improvements to my home in 2020. So far this year I've repaired a chimney, replaced fascia and soffit, had a new roof put on, repaired and replaced fencing and gates, upgraded appliances, re-done ceilings, and had two coats of exterior paint out on the house. As every homeowner knows, that's expensive. I applied for a HELoC from Comerica to replace windows and doors, upgrade flooring and generally finish the project. I was stuck at home because of the COVID-19 emergency and thought that would be an opportunity to finish the work. The people at my local branch are great and encouraged me to apply for this loan. They helped me begin the process. Then things began going downhill.

    The individual at the corporate lending office initially requested fourteen pieces of documentation, including K-1's for 2017, 2018 and 2019. Plus W-2's for 2017, 2018, and 2019. Plus the awards letter from the Social Security administration for 2020 (does anyone really keep that?). If that wasn't available I had to supply the 1099s for 2018 and 2019. Do you really want me to keep going on? There's more if you're not bored yet. Such as proof of insurance, profit and loss statements, etc. I've applied for loans before and I've usually been asked for tax returns and proof of employment and insurance. Almost all other information is available online now, whether we like it or not. Then I get a demand for income tax statements for several years. Now, I really do get that. Kind of obvious really. But hey, aren't all the K-1's, W-2's and profit/loss information included in the tax returns? By golly, it is!

    Why not just ask for those and be done with it. Even the Social Security 1099s information is included. Do these people even have a clue? Anyway, after digging out this information, scanning and submitting it, I'm told (nearly a month into the process) that yes, I'm approved but the loan won't be funded until I go back to work even though it's secured by my home. Never was I told that I had to be back at work and out of "lock down" before the loan would be funded. And it took nearly a month to find out. Take it from me, don't waste your time with these people. Go somewhere else.

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    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: April 17, 2020

    PPP Loan complete failure. For two weeks I waited patiently for Comerica to create their portal for the PPP loans, they weren’t ready and now the money is gone. I will be setting my business up with another bank. What a joke!

    11 people found this review helpful

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      Rated with 1 star
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      Verified Reviewer
      Original review: April 16, 2020

      PPP loan for business customers. This bank is a joke while other banks were busy approving loans, Comerica Bank could not even get a application portal in place. Our business really needed this and we missed out all because our bank could not get it together and even offer one loan. We will immediately change banks, this was an absolute disaster.

      15 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 24, 2020

      Comerica 1.2 Billon scheme- google it and READ. Notice that this is the 3rd Ponzi Scheme Comerica is involved in. The CEO Curtis Farmer of Dallas, Tx. Is involved in all three BILLION Dollar schemes yet they can't be charged and the other scum bags get 25 years in prison. I guess that's why the complaint to the Dallas, Tx BBB was left unanswered in May 2019 and now in Jan 2020 was left unanswered and I was not getting my monthly court ordered reimbursement/ distribution abruptly leaving me high and dry and them refusing to pay out the $179,999 BOTH Chase and Comerica Bank owes me for the illegal foreclosure of my residence- as the $8.93 "settlement check" mailed to me Dec 2016 does not cut it.

      If you're missing money for anything- the state debit cards, missing investments - whatever don't bother taking Comerica to court. File with the Texas Dept of Banking, CFPB, HelpWithMyBank, OCC, justice dept, or even call the senators, Tv stations, BBB, or even try a second court hearing because they are in contempt of the first. Been there- done that. Hell they can get out of being involved with THREE - 1.2 BILLION dollar scams. Yes three and leave unscathed and ABOVE THE LAW in all 3 while everyone else goes to JAIL for 25 Years? Everyone is in their pocket and there is nothing you can do about it. (That's what I was told anyway.)

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      9 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 24, 2020

      Have to cash my check then deposit the cash into my checking account if I want to access my funds same day. If I just deposit my paycheck into my account they put a hold on it. How does this even make sense?

      8 people found this review helpful
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      Rated with 1 star
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      Verified Reviewer
      Original review: Jan. 23, 2020

      This is the worst bank in America. Monday was a holiday so I knew my unemployment benefits would be late. Nevertheless some people in Alabama got their money if they had a prepaid card but the people that had their debit card with the alabama logo hadn't gotten their money and was told late Thursday. Keep in mind paydays are usually Tuesday nights. Received a email saying a processing issue. Money will not be available till next Tuesday. **. People depend on that money and some lazy Comerica worker didn't do their job... ** them. Don't bank there please...

      5 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Jan. 22, 2020

      I have several accounts with Comerica - one checking, two savings. I recently tried to close one of the accounts and was informed by Customer Service that the transaction could not be completed over the phone and that I needed to "come in" to a branch. I no longer live in Michigan and will have to drive to a branch from Ohio. I'm angry!

      6 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 22, 2020

      This bank is horrible, I put in a lot of time and ordered status to open a biz account, after 3 months they won't honor the bonus ($500 gift card.) which is valid and one of their quality dept. said will mail to me.

      4 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 20, 2020

      My husband has a credit card with Comerica and is incapacitated. I have sent all necessary documents that I was asked to send so that I can be placed on the account and cancel the card. I gave them 10 days as I was instructed only to be told that they now need my address and date of birth which is on the driver's license copy that was sent to them in order to be placed on the account. I mailed everything I was instructed to plus items I was not and will be mailing the information as instructed but this needs to be taken care of immediately. Horrible company and customer service.

      10 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 6, 2020

      I received a check for $100.00 as a Christmas gift. I went to this bank, as it was drawn from here. My last name is a very different one and happened to be spelled with 1 letter incorrect, which the writer corrected and initialed. The amount of unprofessionalism and down right rudeness I was given was appalling. I will NEVER recommend this bank to anyone. Just AWFUL!!!

      9 people found this review helpful
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      Comerica Bank Company Information

      Company Name:
      Comerica Bank
      Address:
      151 S. Rose Street
      City:
      Kalamazoo
      State/Province:
      MI
      Postal Code:
      49007
      Country:
      United States
      Website:
      www.comerica.com