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  Comenity Direct High Yield Savings Account

Comenity Direct High Yield Savings Account

in Savings Accounts from Comenity · fdic

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Comenity Direct High Yield Savings Account

Unaffiliated

in Savings Accounts from Comenity · Member FDIC

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Highlights
Monthly Fee $0
APY (Annual Percentage Yield) 0.55%
APY Minimum Balance $0.00

Comenity Direct High Yield Savings Account Review

Comenity Direct High Yield Savings Account is offered by Comenity, a bank founded in 2003 and based in Draper, UT. Comenity Direct High Yield Savings Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Higher than average APY. Comenity Direct High Yield Savings Account has an annual percentage yield of up to 0.55%, which is higher than the national average interest rate on savings accounts.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
  • Bill pay. Pay your bills to practically anyone in the United States through Comenity.
Comenity savings account Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Higher than average wire transfer fees.
Comenity savings account FAQ

Are savings accounts from Comenity federally insured?

Yes, your Comenity 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 offer a signup bonus?

Comenity savings account doesn't offer a signup bonus.

What is the minimum initial deposit for Comenity savings account?

The minimum deposit to open a Comenity savings account is $100.
Comenity Direct High Yield Savings Account Minimums
Description
APY Minimum Balance $0.00
Minimum Opening Deposit Starting at $100

What APY does Comenity offer?

Comenity savings account offers an APY of 0.55% (APY stands for annual percentage yield, rates may change).

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 Comenity savings account charge?

Comenity savings account 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.
  • Comenity savings account charges $5 every time you request a paper statement.

What features and perks does Comenity savings account offer?

This savings account includes the following features:

  • Fraud monitoring - Comenity savings account 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.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Comenity savings account 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 Comenity savings account?

In most cases, the answer is yes. 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 Comenity savings account?

The customer support email for Comenity savings account is webmaster@comenity.net.

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Contact

Hours of Operation

  • Sunday 9:00am - 5:00pm
  • Monday 7:00am - 11:00pm
  • Tuesday 7:00am - 11:00pm
  • Wednesday 7:00am - 11:00pm
  • Thursday 7:00am - 11:00pm
  • Friday 7:00am - 11:00pm
  • Saturday 9:00am - 5:00pm

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Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $0.00
Minimum Opening Deposit Starting at $100
Monthly Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
Paper Statement Fee $5
Wire Transfer Fee - Domestic (Outgoing) $25
Wire Transfer Fee - International (Outgoing) $25
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Member FDIC
APY (Annual Percentage Yield) 0.55%

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