Summary: Bread Savings, formerly known as Comenity Direct, is a division of Bread Financial — a financial services company that offers personal and business banking products.

Bread Savings products and services

Bread Savings offers the following banking products:

• High-yield savings account: This is one of the few high-yield savings accounts offering more than 5% APY today. It has no monthly maintenance fees and a $100 minimum opening deposit. Interest is compounded daily and credited monthly. Bread Savings offers free ACH transfers, free online statements, free incoming wire transfers, and unlimited deposits via mobile check capture and ACH transfer.

• Certificates of deposit (CDs): Bread Savings offers CDs with terms ranging from one to five years. The minimum opening deposit for their CDs is $1,500. There are no monthly maintenance fees. Interest is compounded daily and credited monthly.

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Bread Savings fees

Bread Savings does not charge many fees, but depending on how you use your account you may be charged the following fees:

• Paper statement request: $5 per request

• Official check request: $15 per request

• Outgoing wire: $25 per request

Bread Savings pros and cons

There are a few key pros and cons you should be aware of before banking with Bread Savings:

Pros:

• Competitive CD and savings account rates: Bread offers competitive deposit interest rates all above 4% APY — much higher than national averages.

• No monthly maintenance fees: Unlike many of its competitors, Bread Savings does not charge monthly fees for account maintenance.

Cons:

• No physical branches or ATMs: Bread Savings operates solely online and does not have any brick-and-mortar locations or ATMs for customers to visit.

• Limited product offerings: Currently, Bread Savings only offers two product types: a high-yield savings account and CDs. Those looking for other deposit products, such as free checking or money market accounts, should consider other banks.

Customer service and mobile banking experience

Bread Savings representatives are available via telephone on weekdays from 7 a.m. to 9 p.m. CT and weekends and most holidays from 9 a.m. to 5 p.m. CT by calling 1-833-755-4354. Representatives can also be reached via secure message and mail.

Bread Savings also has a mobile app available for download on the App Store and Google Play, with a rating of 4.6 and 4.0 stars, respectively. Customers can use the app to check account balances, transfer money, make deposits with mobile check capture, and more.

Social and environmental impact

Bread Savings has made a commitment to reduce its environmental impact by implementing work-from-home programs and more sustainable commuter transport options such as electric vehicles, ride-sharing, and cycling to work.

Additionally, Bread Savings prioritizes reusing and repurposing electronics and managing energy, water, and paper consumption within its facilities, as well as encouraging eco-friendly supplies, equipment, and systems.

Read more: What is sustainable banking?

Frequently asked questions

Is Bread Savings FDIC-insured?

Yes, deposits made into your Bread Savings account are FDIC-insured up to the federal limit of $250,000 per depositor, per institution, per ownership category.

What is Bread Savings’ routing number?

Bread Savings’ routing number is 124085325.

Is Bread Savings a legitimate bank?

Yes, Bread Savings is a division of Comenity Capital Bank, a reputable and FDIC-insured financial institution.

What is the current Bread Savings rate?

Right now, Bread Savings is offering 5.10% APY on its high-yield savings account. This is one of the highest savings account rates available today.