Bread Financial

Overview / Commentary
12921 S Vista Station Blvd
Draper, UT 84020

Bread Financial is the 155th largest bank in the nation. It was established in 2003 and as of March of 2022, it had grown to 111 employees. Bread Financial's CD rates are 94% higher than the national average, and it has an A health rating.

Related Posts

Bread Financial (Formerly Comenity Direct) Savings Rate Now 1.00% APY - 4/22/2022

Bread Financial (formerly Comenity Direct) has increased all of their rates: High-yield savings 1.00% 1-year CD 1.50% 2-year CD 1.80% 3-year CD 1.85% 4-year CD 1.95% 5-year CD 2.15% Note that funds availability for new accounts is listed as 10 days, many users here on DA have been surprised by this policy.

Reviews (8)

Don't Bank Here

The web/mobile experience is nice, however, they don't really advertise that there is a 9 business-day hold on your funds when you first deposit them in your account. You can't even transfer between Bread Savings accounts for 9 business days. Also, there is a $5,000 daily withdrawal limit.

Their customer service isn't the best either. Long hold times and always someone who's first language is not English.

I'm closing this account the second this 9 business-day hold is over, and after I withdraw $5,000 dollars per day until my balance is Zero. LOL. Such a joke.

Stale Bread

Posted by: |

Changes abound at Comenity Bank, now marketing themselves as Bread Financial.

But same old tactics. They'll allow you to deposit $1,000,000 in a day, but limit you to $5,000 per day in ACH withdrawals (with a max of $30,000/ month). That could take month or years to get back your deposit, unless you pay up for a wire transfer.

Further... Looks like the customer service team in USA got the pink slip and replaced with Reps from India.

Don't get toasted. Avoid this bank.

Easy To Move Your Money In, Hard To Get It Out

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Re-posting my old review since their name change wiped out almost 60+ old negative reviews on this site. Shady as hell!

This bank makes it very easy to open an account and transfer your funds in. It let me link my external bank (Ally) through a service like Plaid, initiate a transfer immediately (no limits), and the account was open the next day with funds appearing soon after.

Then, you start realizing how much of a pain it would be to access your funds. That account you linked to initially fund things? Nowhere in sight. You have to re-link the account, and this time, the only option available is using the 2 micro-deposit method, which can take up to a 3-5 business days. After I do this, I discover that there is a hold on the funds I deposited. For accounts 30+ days or older, that's 5 business days. For new accounts, that's 10 business days.

There's a $5k/day and $30k/month transfer limit, which I only found out later you can circumvent by initiating the transfer from an external bank account. But this information certainly isn't available to customers unless they really search for it!

So because I didn't know about the external transfer method, I started to move my funds back starting with $5k the first day it was available. After which Bread Savings hit me by setting my account to Restricted due to fraud concerns... There was NO notification that this happened, except a letter that came in 2-3 weeks after the fact, telling me I had 14 days to fix the security issues after I'd already resolved the problem because I noticed it myself online... Yeah... Thanks. That's helpful.

I was now required to mail in front/back of my driver's license, social security card, as well as last month's bank statement from the linked bank accounts. I love how there were no fraud concerns when I transferred money *in* from the same bank account, but the moment I did a transfer back out, I was immediately blocked...

After getting handed back & forth between multiple CS departments, I finally was told that instead of mailing these sensitive documents via USPS, I could also upload it via their secure messaging center. So I did that, and about a week later, the restriction on my account was lifted. Finally, I managed to get my money away from them, but this was a nightmare process I'm not going to go through again.

PS - For those of you wondering, a lot of people had much worse experiences than me. I highly recommend going through the CFPB if you are having issues accessing your money or closing your account. The previous reviews all cited the CFPB as a huge help in resolving issues that took months+ to fix.

Avoid This Bank

Posted by: |

Teaser rates come at a high price. Undisclosed $5,000 daily transfer limit and $30,000 monthly transfer limit. They won't let you get your money. Their technology is integration to Quicken, QuickBooks or Plaid. No US employees. Outsourced call center to India.

Very Disapointed, Bank Is Unusable If You Have Money

I created a new account, Liked every thing about it. Very easy. I then I attempted to transfer money to the account. It failed so I contacted the bank. I found out that there is a $5,000 daily limit on a transfer in or out. I was very disappointed because I thought this was a bank I could use. Turns out if you have money they are after fees. I was told by the bank that they may wave the $5,000 daily limit if I transfer by wire and pay the $25 fee for each transfer or my money will be locked up for a long time. Too bad they did not disclose the extremely low transfer limit or explain that only a wire transfer with fees may allow a larger transfer. This bank is unusable for any one with actual money to deposit.

Transfer Limits Make The Bank Unusable

Posted by: |

Bread offers an attractive interest rate, but what they DON'T DISCLOSE when signing up is that there is a $5,000/day transfer limit. This may work for people with smaller accounts, but I'd like to put 6 figures in my savings account, and only being able to remove $5K/day makes this an impractical choice. Keep in mind that after 6 transfer/month you're charged a fee, so even if you wanted to just take out a larger amount of cash over several days, you're gonna get hit with these fees (any they may cut off your transfer ability). This is an absurd limit for an online savings account, and it's also TOTALLY UNACCEPTABLE that this isn't disclosed up front. I wasted a bunch of time setting up this account and linking external accounts only to find that this bank will be unusable for me. As soon as I can withdraw my initial funds (after 10 days) I'll close the account...I wouldn't trust a bank that hides this important information in their disclosures anyway. (They also have no chat feature and their message response takes a LONG time; you're stuck calling if you need someone, which is just not something that should be necessary in this day and age.)

Changed Name From Comenity Direct

Posted by: |

Comenity Direct Bank is now named “Bread”, probably to erase the barrage of negative reviews on this site. It should be noted that it is really hard to locate these reviews online, so I will just describe my experience.

They have a very good rate for a savings account, which is currently .75%. That is their one redeeming feature.

However, there is a lot they do not disclose, the most important thing being that they place a $5,000 daily cap on transfers out to third party verified accounts. When I asked them for an in increase to $10,000 daily, they refused, claiming that the account needed to be in place for 90 days. This rule makes the account more like a CD and not a savings account, where you should be able to withdraw 100% of your account funds at one time.

I have had accounts with a lot of internet banks and have never run up against these withdrawal limits. I have done 6 figure withdrawals without a problem elsewhere, so this bank’s withdrawal restrictions are shocking.

There are 77 reviews for Comenity Bank on this website, but because the bank no longer exists, only a handful can be retrieved. There are some complimentary ones, but pay attention to the ones that have described some really unbelievable situations that should never happen with a bank that has federally insured deposits.

This $5,000 limit and 90 day rule also do not appear anywhere in their disclosures, which they would be required to issue under Federal banking law. I have filed a complaint with the CFTC.

Comenity Capital Bank

Posted by: |

Comenity Capital Bank
Last year i had a heart attack, also I have severe COPD and I am on Oxygen-24-7. My wife had a mild stroke. I am 75 years old. I would like to thank you for working with us during this hard time. what I don't understand is that World Financial Capital Bank keeps call me on the phone as many as 8 times a day or more, 7 days per week. I will continue to make some kind of payment on a regular basis, as I have for this many years. If and when I can I will do more. Please get FCB to stop calling, If I have another heart attack and die. You will not get anything. I will pay each and every month.
I Thank You
Jerry Flowers


Health Grade Components

FDIC Certificate #57570
Year Established2003
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD4.74%
Return on Equity - YTD31.48%
Annual Interest Income$509.1MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$10.32B$8.30B
LoansQ1 2022vs Q1 2021$8.10B$6.54B
DepositsQ1 2022vs Q1 2021$7.23B$6.56B
Equity CapitalQ1 2022vs Q1 2021$1.63B$1.09B
Loan Loss AllowanceQ1 2022vs Q1 2021$1.00B$868.3MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$233.6MM$168.1MM
Real Estate OwnedQ1 2022vs Q1 2021$0$0
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Bread Financial Savings Account Rates

1.00%$100-Bread Savings High-Yield Savings Account

Bread Financial CD Rates

2.55%$1.5k-5 Year Bread Savings CD
2.35%$1.5k-4 Year Bread Savings CD
2.25%$1.5k-3 Year Bread Savings CD
2.20%$1.5k-2 Year Bread Savings CD
1.75%$1.5k-1 Year Bread Savings CD

Bread Financial is an Internet only bank and does not have branch locations. Its headquarters is located at 12921 S Vista Station Blvd - Draper, UT 84020

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.