| Deposits FDIC Insured | Yes |
| Insured Bank | Bread Financial |
| FDIC Certificate # | 57570 |
| Date Established | 2003 |
| Assets | $12.95 billion |
| Loans | $9.93 billion |
| Deposits | $9.34 billion |
| Capital | $1.89 billion |
For a more detailed analysis of Bread Financial's financial condition and a description of what these numbers mean, please visit the Financial Details section.
| Online Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| High Yield Savings
|
5.15% | $100 | - |
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|
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 1-Year CD
|
5.25% | $1,500 | - |
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|
| 2-Year CD
|
4.65% | $1,500 | - |
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|
| 3-Year CD
|
4.25% | $1,500 | - |
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|
| 4-Year CD
|
4.15% | $1,500 | - |
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|
| 5-Year CD
|
4.15% | $1,500 | - |
Learn More
|
Comenity Direct has lowered its online savings rate by 5 basis points from 0.60% or 0.55% APY.
This is now the highest nationally available 1-year CD rate. We are just beginning to head in the right direction.
Comenity Direct is fairly well reviewed on BestCashCow and they are the latest bank to raise their online savings rate by 5 bps.
Comenity Direct has raised its online savings rate from 0.60% to 0.75% APY. As of today, this is the highest nationally available online savings product available with a small initial deposit or small balance ($100 is the minimum).
Comenity Direct has also raised its online CD rates, and its one-year product now stands at 1%, but requires a $1,500 minimum. Compare online CD rates here.
By tomorrow anything less than 1% in an online savings or money market account will be insulting.
Parent Bank Initiatives:
Bread Financial has made a contribution the The Nature Conservancy described here, but it discloses very little about its lending practices to renewables.
Updated April 3, 2024
Bread Savings, a division of Bread Financial Climate Score: C
Bread Savings, a division of Bread Financial Climate Score Info: Contributions to climate organizations are nice, but too little is disclosed about the bank's lending practices to either the oil and gas sector or the renewables sector.
Customer Reviews for Bread Savings, a division of Bread Financial (48)
Rad
August 13, 2023 |
Yup Bread has 5k daily and 30k monthly limit on ach transfers. It's low but there are other banks who have similar ach limits if not lower like Valley Direct Bank and BMO Alto. The part that bothers me is that Bread doesn't list it anywhere on there website but they are not the only ones, so it's not fair to pick on Bread. The main reason is due to security, but the downside is that customers who went to transfer more out are limited and will be blocked.
Heard of success stories of others requesting for a ach increase upto 100k daily but that is not always guaranteed. I guess most people just make the low ach limits work somehow? Either through planning ahead and making multiple transfers or getting an increase or just going with another bank with higher ach limits.
For me, ach limits has never been a problem because I hardly ever transfer out.
Is this review helpful? Yes:3 / No: 0
Mikeb1
May 19, 2023 |
Was very easy to set up. Worked well did not reject my application like many others. It took me less than 10 minutes and it was all set up.
Is this review helpful? Yes:6 / No: 0
TwilioDan
May 1, 2023 |
This is a terrible bank. Not sure how they took to the name "Bread". Carnage would be better. The woman on the phone had a nice voice though.
Is this review helpful? Yes:1 / No: 5
RogW57
March 27, 2023 |
Rate may look competitive but you'll fall into the black hole of awful service and constant cross selling the moment you open an account.
Is this review helpful? Yes:4 / No: 2
SHG
March 2, 2023 |
Worst bank to deal with. Can't be trusted. Stay 2 miles away.
Is this review helpful? Yes:4 / No: 4
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