Bread Savings High Yield Savings
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| Monthly Fee |
$0 (Verified 12/16/2022) |
| APY (Annual Percentage Yield) |
3.5% (Verified 12/16/2022) |
| Minimum Balance to Earn APY | N/A |
Bread Savings High Yield Savings Review
Bread Savings High Yield Savings is offered by Comenity Bank, a bank founded in 2003 and based in Draper, UT. Bread Savings High Yield Savings are available in 50 states (and Washington, DC).
Key Takeaways
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.5%, which is much higher than the average interest rate for a savings account.
- $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
Bread Savings High Yield Savings Pros & Cons
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Bread Savings High Yield Savings FAQ
Are savings accounts from Comenity Bank federally insured?
Yes, your Comenity Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #57570). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does Comenity Bank offer a signup bonus?
Bread Savings High Yield Savings doesn't offer a signup bonus.
What is the minimum initial deposit for Bread Savings High Yield Savings?
The minimum deposit to open a Bread Savings High Yield Savings is $100.| Description | |
|---|---|
| Minimum Opening Deposit | $100 |
What APY does Bread Savings High Yield Savings offer?
Bread Savings High Yield Savings offers an APY of 3.5% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.What fees does Bread Savings High Yield Savings charge?
Bread Savings High Yield Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $25 fee.
- Outgoing international bank transfers come with a $25 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- Bread Savings High Yield Savings charges $5 every time you request a paper statement.
What features and perks does Bread Savings High Yield Savings offer?
This savings account includes the following features:
- Fraud monitoring - Bread Savings High Yield Savings monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
- Mobile Banking Services - Bread Savings High Yield Savings allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
Can you set up a direct deposit to Bread Savings High Yield Savings?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Bread Savings High Yield Savings?
The customer support email for Bread Savings High Yield Savings is webmaster@comenity.net.
Contact
- Headquarters
-
12921 South Vista Station Boulevard
Salt Lake County
Draper, UT 84020 USA - (833) 755-4354
- Visit Site
- Email Support
Other Services by Comenity Bank
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- Washington, DC
- West Virginia
- Wisconsin
- Wyoming
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