Bread Financial Reviews

Average Rating:
Based on 75 review

Worst Bank Ever!!!

Posted by: |

I had the worst bank experience ever with Bread Financial. I wanted to open a CD, since they have good CD rates. I decided to open a savings account first with them, and afterwards open a CD to a transfer the money from the savings account.
It took me more than 1 month to open a savings account with them, I did it initially online, when I didn’t hear anything after about a week I called them and they said that I needed to wait for a letter in the mail, after another week still nothing, I called again (every time you call the automated answering machine says 10 minutes wait even if the wait was always between 30 and 60 minutes), when I finally got them on the phone they told me that I have to send them in the mail some additional papers, copy of ID, copy of SS card etch. I did that, after many more phone calls I finally succeeded in opening a savings account, this was after 32-33 days.

Then I wanted to open a CD online, and I kept having problem with it, it kept saying that I was denied???, I called them again and they told me that there system was down and I should try in a few days again. I kept trying and I kept being denied, I called them again, and every time they said that they couldn’t tell me why I was denied, but only tell me that it wasn’t because of my credit, I knew that since my credit score is above 800. I am in my mid 50’s and have had many CD’s before with different banks without any problems at all.
Since I wanted to open a CD, and I couldn’t do that I wanted my money back, I called them again, and they told me that I would see my funds within 5 biz days, it ended up taking another months and call them 5-7 times again. It was obviously to me that they were holding on to my money to make interest of it, and pay me a much lower interest.
I want to warn everyone against this bank which have very suspect and deceiving banking operations.


Posted by: |

Tried to open online CD. Was supposed to be sent a confirmation code. Never got it. Went back to see that my email address was correctly typed was. Asked to be sent another confirmation code. Never got it. Tried third time for code to be resent. Never got it. Notified that too many requests made.Called customer service... nobody picked up. Won't bother with them.

Stay Away. Bad Ties Communication With Lending Arm

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Received a home equity loan. Mortgage company sent cert checks out to my lenders. Bread supplied me with a mailing address and a check was sent for my loan balance plus $600 in error. Check was cashed 5 weeks ago. After numerous calls I'm still waiting for my funds to be mailed back to me. I had been told various things about payoff and funds to be returned by many representatives. Comity Bank and Bread do not have more than message access to one another. Worst experience I've ever had with a financial institution. Still waiting for $1600 of my funds to be returned to me! No one has or provides answers and now getting hammered for being behind in loan payments too. Even upper managers have not been able to help. STAY AWAY!!!

My Computer Was Hacked And Someone With Access To My Emails Stole 4.3 Bitcoins....

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I've read numerous stories of individuals losing bitcoin through fraud. I prefer to start by stating that the organizations in charge of bitcoin security have done nothing to assist in the recovery of lost or stolen coins. In my case, my computer was hacked and someone with access to my emails stole 4.3 bitcoins. I contacted blockchain right away, but they wasted my time. I then looked for help elsewhere and was directed to speak with a bitcoin professional who helped hunt down and recover my bitcoins for a charge. After the job was finished, I was more than happy to pay more. I'm glad I got help, and I want to urge you to contact 'digital asset recovery expert @ gmail com'.

Terrible Service

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Only thing I can say is they have good rates but not good enough to put up with poor service. They didnt follow instruction on renewing a large CD and took forever to get in touch to get the matter corrected. Then after I got in touch they never did correct it to my satisfaction. Next I transferred money out of online savings account to my brokerage in which they froze my account as they said unusual activity. They only contacted me on bank message so I never knew they froze account until my Brokerage called and said I had no funds. It was a big inconvenience and embarrassment. I tried to terminate my accounts with them but of course they would not allow me out of the large CD that has been in effect for only 3 months without paying a year of interest. Bread only cares about themselves and nobody else!! I will never invest with them again!! I would give them a negative 5 stars if I could.

I'm Really Appreciative

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I was conned out of $153,700 by a forex website called Tradestation. I was first told that I could withdraw 11.5% return on investment (roi) per week starting from the second month of membership, and that if I invested more, the return may grow by 4.5%. I added another $17,300 to make a total investment of $170,000. I was only able to make withdrawals after the initial investment for the first week before being told to invest more money to make more withdrawals. I told them I wasn't interested in this and that I wanted to stick with the current ROI plan, but they insisted that I first have to invest, at which point I recognized a red flag and told them I wasn't interested. While not being shocked by their behavior, I was unable to withdraw money again. I notified a friend, and he gave me the email address Contact Kevin Recovery Agent @ GMAIL COM A week after we got in touch, I was able to take all of my money, along with my return on investment for the entire intended length of the 9 months advance payment. You can get in touch with them if you need any of these services; they're the best available. I still can't believe that this happened, and it was all because of Contact Kevin Recovery Agent @ GMAIL COM . Contact Kevin Recovery Agent @ GMAIL COM . I'm really appreciative.

Not A Good Experience

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I opened a high yield savings bank initially with no problem but when I tried to get the mini deposits for the ach transfers my bank rejected the connection.
I sent the required documents thru their link but after several calls the correct department seemed to never receive them so after 8 weeks that was enough for me. It would have not ben so bad if after each call I had to reverify myself to each department I was transferred to,,,, so I wish them well but not recommending them to anyone else

Online Savings Account

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I signed up for an account and never got as much as any email confirming my application was received or in processing. The only emails I received was with the six digit code to check status of the application. I never heard back from them.

I am surprised so few people know how much of your information you give up the moment you link your checking account to the Bread savings account through Plaid. It gives up all your transaction history, dollar amounts, dates, what your outgoing/incoming transfers, credits/debits. To me I don’t think it’s worth it to give up all that personal information and not even have an account opened.


Posted by: |

If you love customer service INCOMPETENCE and your account locked up for no reason bread is for you!

Worst Bank - No Basic Process In Place

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One of the worst bank. Doesn't care about customer. Before even getting the account #, they want to add the money to the account. Okay, that is to some extent fine. Other banks, sends an email indicating my account # etc., but they don't send it. They asked to wait 10 days, for the normal surface mail to reach, which will have account details. No mail reached so far, it has been almost 20 working days, more than 24 days. No mail, no proper response to emails. Asking me to call the customer care. The customer care doesn't even care about customer, it should be named as bankers care. It only cares about the bank employees and no options to talk to the customer. It also says the same, wait for 10 business day.

Very annoying customer experience and worst bank, doesn't have the basic process in place. These days, lots of online only banks are out there, without even having the very basic thing in place. Very pathetic.

Currently I couldn't even takeout the $100, the initial amount I added to the bank, when opening the account. Thank God, I didn't add more in the beginning.

Please be aware of this useless bank.

Believe Everything The 1-Star Reviews Say

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Stay away, stay far far away. They may have great rates, but in all my experience with online banks, I've never seen one that put up so many roadblocks, with so many weird rules -- the bean counters had a field day setting up the rules and procedures -- starting with first setting up an account, to then moving money around, be it within Bread or with other institutions. "Oh, you didn't notice the rule that's on the bottom of page 32 (paragraph 12, subsection 3) of our 67 page account agreement?"

STAY Away From This Online Bank

After WEEK doing Application for a Simple Online Savings Account, my Application was DENIED. I have excellent credit. DO Not apply for any accounts including a Online Savings Account. Stay Away Run Away From this Online Bank.
Nothing more to say.
Got a so called supervisor on the line and he was completely CLUELESS on what to do and what to say.

Never Had One Issue With My Two Accounts

My two accounts at Bread were opened with ease and I have been able to add and withdraw without incidence. Bread has been as easy to deal with as any internet bank I've used. It is my belief that all the negative reviews are due to user inability to understand or use the internet properly. It really isn't that complicated folks.

Terrible Customer Service - Not Worth The Trouble

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The higher interest rates are attractive but not worth the headache. As I was opening an account (immediately after I linked my bank account and provided account information that I really wasn't comfortable with sharing), suddenly the website locked up?? So I tried several times to call them because the website was not working but to no avail. their answering service would hang up. So with $500k in process of being transferred I bailed out. Of course I had to stop the transfer at my bank (that actually takes calls and has a functional website) because I could never actually reach anyone at Bread. I wouldn't trust this company with your money no matter how high the interest is.

Horrible Bank

First they closed my savings account for undisclosed reasons.

Then they would not give me my money.

It took me 4 weeks to get my money and 5 phone calls to them.

Each time I called they promised to send the money, but didn't.

I had to file a complaint with the FDIC before I finally got my money.

Really Horrible Service

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I tried to send a wire on Thursday. I filled out their form. They didn't send it, and the only notification was a message on their own website. No phone call, no email. Just a message asking me to call their Customer Service number. I saw said message on Saturday, so naturally it's Monday before I can call. At current time, I have not been able to get through to anyone who can get it sent, but did find one who says the problem is that they want to know the purpose of the wire.
First problem, why is that any of their business, Two, if they insist on knowing it, why is it not on the form, and Three, why did they not call me to inform me that they aren't competent enough at creating forms to gather all the information they need to proceed, and Four, why does it take hours to get through to Customer service to resolve a problem.
The fifth question is Why do I do business with people like this, and the answer is I'm closing this account and moving it to a competitor.
Bear in mind this was after wrestling with them for two months to increase my transfer limits (unrelated to wires) to useable levels.
Oh, I also tried using their website Chat feature, and get the same canned response every single time, which is "call customer service".
Apparently they aren't capable of having a useable chat-bot, either.
I don't recommend them at all.

Bread Online App Rejected.

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Applied online for the 5 year CD. Logged in via Plaid to my funding account. Got a rejection from Bread, saying they wouldn't open the account. No reason given at all.

Bread Financial Absolutely Awful

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My two gripes with Bread are that 1) the customer service is poor. If you want to actually speak to someone on the phone, good luck. You will wait a long time or get disconnected. You can send a message and get a response within a day, but I have not yet been able to speak to someone live. 2) On the High Yield Savings Account, they only let you withdraw a max of $5000 per day. What kind of bank sets such a low daily limit on withdrawing your own money? A crappy one is the correct answer.

Comenity Direct LOST

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I have noticed that Bread would raise the High Yield rate .5% when the Fed raises the rate .75%. Comenity Direct used to raise or lower the rate the same as the Fed Rate Change. I loved Comenity but I have serious doubts regarding Bread.

Poor Customer Service

My son was and is purchasing a pc from evolve through your financing.
He paid 6 months before receiving it.
When forced to go to a 35k job from a 92k job he understandably had to shuffle bills.
Instead of being a superior finance company and calling from your own area code you supersede ours.
On your phone which is a violation of the Missouri no call law.
I am disgusted with your behavior and rudeness.
I have not been treated as such for an account 15 days late.
That makes people go all Karen

He said he will be able to catch up 10/10 or so.
Are you even American CITIZENS?

Deposit Via Plaid Only

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I tried to open a cd with Bread. The only way to fund the account is with Plaid, which requires you to give them you bank login credentials. I think Plaid logs into your account so you have to identify to Plaid your bank's login URL. How can this work if you have 2F on your bank account? At any rate, Plaid did not recognize my bank's URL so I can not open an account at Bread.
Can anyone explain how Plaid works and should it be trusted with your bank credentials.

Hold Times Should Be Fixed

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I'm befuddled as you'll see further in this review, the hold times have been long until I called within the last hour. The hold time was down to a few minutes. Hold time was my main complaint. The CSA have always been courteous and don't appear located other than here in the USA.

Time alone will tell if the services are as represented in other reviews.

If you don't mind horrendous hold times and sign on problems from the get go .(BTW hold message over and over frequently " ....All of representatives are busy- please hold someone will be with you shortly")
I was/am critical of the hold times - I learned that you can't use special characters in the username or the password - the system will allow you to continue with signup containing an error.
090222 Bread sent to emails indicating I should contact them.
After holding for over 25 minutes, I disconnected.
next day Same issue finally reached CSA .
While Bread's rates are attractive, and the ach pull to fund the account is efficient.
If you don't mind horrendous hold times to reach a CSA- go there.

They Just Locked My Account For No Reason

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Locked my account with $10,000 in it. They are demanding a photo of social security card, ID and all bank statements for external accounts. They are demanding all of this within 14 days and I have been a customer making deposits and withdrawals for months. BEWARE! they noticed I was removing my money to close the account so they locked it.

Update: I decided to close my account instead of jumping through all of their hoops. When I called, they did not attempt to resolve the issue at all. And they admitted the issues where caused by their system and their reps.

Terrible Service

For no reason they locked my account. I spend more than 1 hour, tried 3 times to call their custom service (Aug. 26). The representative promised me, he will submit request to unlock my account right away. But today Aug. 30, my account still being locked. I have set up auto deposit/pay on this account, I will move my money to other bank.

Poor Customer Service

Posted by: |

Rates are very competitive and that is where the pluses stop. Did not follow directive for renewing a CD...days to answer messages and some have never been answered. Online wait times for customer service have been excessive up to 30 minutes and have hung up...never come back to give you an idea of queue or time before answer. Will not renew anything else with Bread.

PSA - PLEASE READ And Decide For Yourself

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I spent an hour to find these so that you guys can read these yourselves and figure out how incompetent/stupid/miserable this bank is.

And note that lot of current and old 5 star reviews seem fake or made up.

they changed their name to wipe out their crappy reputation but they are still the same

Avoid Bread Financial

Posted by: |

Don't let the high CD rates fool you. Bread Financial are scammers. I foolishly moved my CD from Ally Bank to Bread Financial. What a mistake. They transferred all of my funds to a 1 year CD which I did not want. The only way to reach customer service is by phone as there is no chat feature. When calling you get an automated message saying call volume is high and the wait will be around 10 minutes. After waiting for 25 minutes I hung up. I emailed but got no response for days. After calling again many times I eventually got through. The customer service representative was unprofessional and did not know how to help. She said she would contact her superiors to see if I could close my CD. I never heard back. They have essentially stolen my money for a year and there is nothing I can do. Not worth the slightly higher interest rate. Poor customer service. Horrible company.

No Issues

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I setup a bread savings account 2 months ago and have had no problems. Setting up beneficiaries is a bit cumbersome but I was able to pull a large amount of money out with no problems.

The biggest advantage to this bank is the true two factor authentication via Authy or Google Authenticator. Does not rely on weak security text message for authentication.

Easy Application, Good Rates

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Unlike some others on here, I had no problem whatsoever setting up my account. Their rates seemed pretty good, although I discovered another bank that same day that had better rates.

So Far So Good

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I signed up a couple of weeks ago and I have nothing to complain about. I was able to make a five year CD ladder with few issues. I did not require any assistance, and I’m glad I didn’t given all the other complaints from new users. I will provide an update if anything changes.

Not Linking From External Account - Horrible Customer Service!

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As others have indicated, Bread Savings management and executives are extremely unethical and use shady and fraudulent practices to prevent customers from accessing their OWN money in a timely and reasonable fashion. This is the WORST bank or financial institutions we have ever dealt with in last 40+ years. Sociopaths are in charge!

Outbound Linking from Bread to Any Bank:
- Trial deposits sent same day by Bread to other banks
- Bread links immediately to external bank accounts
- Bread immediately accepted ACH transfers deposits from other banks

Inbound Linking from External Bank:
- Waiting now for 2 days and no trial deposits showing in Bread savings account
- No status visible anywhere on online dashboard
- No idea if and when Bread will allow inbound links from other banks

Does anyone know how long Bread takes to accept the trial deposits from External Bank?

Do they ignore any inbound links during first 10 business days after account setup (this is ILLEGAL)?

Has anyone else experienced this problem and/or delays with Bread stalling or refusing to allow linking from external bank account?

Any help is appreciated!

Beware Of Bread CD Application Denial

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Despite opening a CD with Bread almost 2 months ago, when I just applied to open a new CD, my application was denied. Although I've spent way too much time on the phone repeatedly requested an explanation for this frustrating experience, their reps have refused to offer any reason. But my biggest regret is being stuck doing business with them until the CD matures. At 70 yrs. old, I've never had a bank turn me away, and I'm beyond offended that a bank with their checkered history has refused to do business with me...

Run Dont Walk Away From This Place

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Do not open a CD with this place. They renamed themselves to Bread Financial but are really Comenity Bank. Headquarted in Columbus Ohio and they have over 3,600 Better Business Complaints actually filed. I have had nothing but trouble getting my money out.

Worst CD Application EVER!

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Moved money into checking and TRIED to open a 3-year CD. Provided all info from SS#, DL#, bank account and routing number.
Called, it takes at least 30 minutes to reach rep, and it's under manual review!
Decided that after four days without any contact from them I was going to cancel and open somewhere else. Rep said they need more info. I have a credit score of 786!
In the future, I will only work with banks that respect me and my money.


They put my more than 1 year account on restricted state because of their own stupidity (like really really no excuse stupidity), didnt even bother to tell me and then initiated an unauthorized and fraudulent ACH transfer of my funds without even bothering to inform me (let alone ask) and I am not talking about a small sum here.
It doesnt get worse than this. After 5 days and 15 hours on the phone, I got hold of the idiot that did that. His response I am sorry and lets move on. I already filed 2 complaints with CFPB and FDIC. I will file a new complaint for every single stupid thing they did. They literally are that stupid and arrogant that you have to see it to believe it. AVOID AT ALL COSTS

Now I understand why they changed their name, they had lot of REALLY BAD REVIEWS here, so they changed their name, Most of those bad reviews are not accessible any more.

Zero Stars - Avoid This Until They Change

I bank with many financial institutions. Since they took over Comenity, I have been unable to reach these folks. Might work if you start from scratch and open a new account online (be sure to save all your info). But if you ever want to speak to a live person, forget about it. I wouldn't deal with them or give them any of my business.

Best Rates, Poor Customer Service

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Once you learn how to navigate their website, it's a piece of cake. The learning process is not easy, however with several hurdles, Wait times to contact customer service are horrendous as it is outsourced to India with language issues. I had to escalate my issue with customer service to get back to the US. However, in the end, you have highest bank rate offered on a 2-yr CD in the country at 3.5%; higher than brokered cd's or treasuries at this time.

Awful Customer Service

After being on hold for 45 minutes, the CSA informed me that the 855 number listed on this website is wrong, but the correct number is 833-755-4354, which I then called. The auto attendant said my hold time would be 10 minutes. After 20 minutes on hold, I gave up and hung up. Neither of the two numbers I called offered a callback option, and their website doesn’t provide an email address to send written question to. Overall, a waste of my time!

Smoke & Mirrors

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Yes it's Comenity reincarnated! Stay away from "BREAD". I was finally able to remove my money from this institution after many attempts and the release of much unnecessary personal information. This happened six months ago and the experience was so uniquely bad I still feel the need to warn other people. As I said back then, 'If you try, you might be able to find some other institution that's worse somewhere'.

Good Experience With Bread Financial

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I opened two 5 YR CDs in the past week. I can always reach a rep via phone calls within 30 minutes. Almost all the reps are knowledgeable. If I got a rep who might be new and inexperienced, I just call the main number again. The portal has a secure messages feature that I can ask questions, make requests, upload and download documents securely. The mobile app is pretty easy to use.
My recent experience has been good.

Worst Bank I Have Ever Dealt With!

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I have a lot of money in CDs at Bread Savings which matured on July 29 and July 30. I spoke with someone on July 11 to request that they be closed when matured and funds sent to my originating bank. I checked a week later to confirm that everything was in order. I spoke with the same person I had spoken with on the 11th and was told all was in order. I called the week before they matured to check again and was told that all was in order. I called on August 1 to check and was told all was "in process" and that I would see my funds in a few days. Nothing happened. I called on August 5 and spoke with someone and told my request and action thereof had been closed. I was told that she would resubmit and reopen my request and ask that it would be quickly taken care of. As I have lost total confidence in this bank I called back today, August 8 to see where my funds were. I got someone on the phone who looked at the file and said they did not understand what was happening. I asked if my funds were on the way. She said no and said she was going to put me on hold and find out what the problem was. I was on, as we call it, infinite hold for 10 or 15 minutes and then the line went dead as I was cut off. I called back, was on hold for another 15 or 20 minutes until I got someone. It was the same person I spoke with Friday. She finally remembered, said I had spoken with two people previously today, I said no just one. She said she wanted to read what I was told earlier today. Then I was cut off again. I am on hold again, beyond exasperated and while on hold am writing this and researching who I should speak with at the FDIC to report my experience and help me get my funds back. I have had a large number of CDs over the years and have never had an experience like this to get my funds back. Is this any way to run a bank? I don't think so. I have a T Bill purchase to pay for . Just FYI, I just got off the phone with Rayonna, whom seemed concerned with what was happening, looked into it and told me that the original paperwork that the person at the bank submitted on July 11 was done incorrectly, that she was personally taking hold of this and would get it done. She seems competent, concerned, and I am impressed with her. Kudos if she gets it done. She gets 5 stars for customer service, the others 1 and if I could give zero I would.

Bummer I Say

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I was trying to take out one of their high interest CDs. The website takes me right up to linking an external checking account then the site circuits me back to sign in to Bread once again. The site successfully links up my funding account and even has me enter the amount for my hopefully new CD but the site has me sign in to Bread once again only to say I tried to sign on too many times and I'm locked out. I tried CS and the rep couldn't seem to figure out how to help me fund a new CD. I only wanted the high interest 3.25% 2 year CD but Bread says they cannot approve me for an account. Someone else will take my money that's for sure. Rates are slated to. climb throughout the year so I guess I get to wait for a mainline bank to surpass the early leaders

Good So Far... Just Opened Savings

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After reading mixed reviews I did notice that many of the negative ones are from people using their credit card service and most of those were not real recent so took a chance on their savings account.

After maybe opening accounts at 100 banks/CUs over the past years and learning to hate the process I have to say their signup was the quickest and easiest I ever did. Then I realized I didn't see info about a beneficiary, tried calling them but their lines were busy and I didn't want to wait so sent a message from my account. Sooner than I expected I got a reply and received the form for a beneficiary, filled it out and returned it. All went smoothly. Hope it stays that way. The ACH deposit I made showed up there in my account in 2 days!

Was tempted to give 5 stars but I rarely do that. May up it later if that's possible after I see how things go.

I've made several transfers in and out of the bank with no delays or issues, however I am having a problem getting anyone there to let me know about my beneficiary status. I uploaded a form as asked and then got a reply that it wasn't completed. Didn't see anything incomplete and got no response to questions about it, but uploaded it again... still can't get a response and calling is almost impossible for me as I have piss-poor cell signal here.

But they did finally respond apologizing for delays caused by their recent rate increases and unprecedented activity, which I can accept.

NOTE: RE $5000 outbound transfer limit they told me this....
"The current transfer limit is the default amount that is set for all accounts upon opening. After the account has been open for 90 days, a request for an online banking transfer limit increase can be submitted for up to $100K.

An ACH transfer may be initiated on your behalf by one of our associates in any amount up to the available balance in your account.

You will submit your request by calling us at 833-755-4354 or sending us a message here with the amount you would like to transfer along with the verified account you would like to have the funds transferred to."

Beware Of Bread Financial

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The CD process does not give all the information that is needed. When trying to contact customer service you get a call center that can not help but they tell you someone will get back with you in 3-5 business days. No one gets back with you. The call center people closed my account after I repeatedly told them that was not what I wanted. The call center uses caller ID. They kept hanging up on me when I called. After using a different phone number I was able to get through. i would not recommend this company

My Recent Experience Has Been Good

During the last month I have opened a couple of CD's. Was on the phone with Bread whilst I was setting up a new funding account and they were very helpful. Later last month I asked for the interest to be sent monthly to my outside funding account. That went very smoothly. Opened a second CD last weekend and everything went very easily. These were both less than $50k but in about eight weeks I have a bigger CD to purchase and if the rates stay competitive will put it there. My only negative on Bread is the very small amount that can be withdrawn each month from a savings account ($30000). This actually stops me holding a bigger balance .

Terrible Experience Trying To Get A CD!!!

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I did research on this bank and spoke to their customer service people twice. After deciding to open a CD, I entered all my information, SS, bank info, DL number, address, and received a immediate response that they were unable to open my account and to contact customer service. I did and they were unable to give me ANY reason why they were not able to open my account, but they said it was NOT a credit problem. I wanted to try a second time but the system would not let me so I called them back and they told me to create a new email and use that to try again! I told them no way, I should not have to create a new email just to open an account and they should be able to help me do this. They were unable to offer ANY other help so I decided to find another bank. Something about this banks stinks. I would not use them.

Difficult Voicemail Prompt System, Rude Customer Service, "Dormant" Account

Short summary: rude place with rude people

I deposited just under the max amount to remain FDIC insured, so my account was a decent one. I didn't log in for a few months, then tried to log in and got a message, "this account is dormant,." Where I understand their security concerns, when I called in, the person was defensive and unconcerned.

Other people I called there were also unconcerned and unpleasant.

Most online banks are almost "overly" nice when you call, they seem to be pleased that you called and generally seem eager to help you as much as they can.

That's where my money is going!

Unable To Approve Me For A 2-Year Account

After giving BREAD all of my banking information including SS number, and after connecting my home bank to BREAD for a transfer of funds, I received the "We're Sorry" message that I was not approved for a 2 year CD. I called the given number on the message and the rep. said to try in 30 days using all caps for the email. Meantime, on the site form, it states that the email is case-sensitive! Same thing happened to my husband a few days earlier. Now Bread has both of our information and the routing numbers to our other banks. We can see approval for a loan, but not approval for a savings CD. Beware, Beware, Beware of BREAD.

Thanks To All Reviewers

Posted by: |

My account was placed in "Restricted" status on July 26, 2022. Bread wants me to send bank statements for my linked accounts, driver license, social security card & Fraud Affidavit.

Bread AP/Fraud Dept would not tell me what activity Bread deemed suspicious/irregular that warranted Bread locking my account.
Bread AP/Fraud Dept would not guarantee submitting the requested documentation would lift Restriction.
Bread AP/Fraud Dept advised that after submitting requested "documentation" and this Restricted status lifted. My account may be deemed Restricted, again.

So, sans understanding why my account was locked and sans assurances my account would not be locked, again.

I requested account closure on July 26, 2022.
On Aug 08, 2022. My funds from Bread closure are back with my funding account.
as always, your mileage may vary


Posted by: |

I wouldn't bank with them if the only alternative were dragging around a sack of coins.

I have literally worked with over 50 banks in my life and never run into a bank as untrustworthy and cumbersome as this.

An update on my CD situation, now they've opened 3 cds, after two weeks of total silence, a day after I cancelled the applications and rearranged my money to open a ladder elsewhere. What an utter nightmare.

(Just an FYI, Fidelity was (would have been) able to open a cd ladder for me with rates that are as good or better, the entire process for that took (would have taken) less than five minutes.)

Update On A Cd Ladder I Tried To Open On July 1.

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A week later and I have still heard NOTHING, it's been two weeks since I attempted to open a cd ladder. I did receive a generic offer for a Bread Credit Card, so apparently they want MORE customers when they're completely incompetent about the ones they already have. TOTAL FAIL.

Horrible Service

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Applied for a 12 month 500,000.00 CD on line and told I was denied. I called and asked why and they would not tell me. They gave me a scripted response that was bullcrap. I would stay away from this bank and I hope they go out of business soon. I would give them a Zero , but as usual not an option.for this review.

Glad I Opened An Account

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Opened an account with them and it was very easy & smooth. I've transferred money already and linked more external accounts with no issues. Can't beat their great interest rates!

Slow And Inconsistent

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I attempted to open a cd ladder here, the rates are excellent at the moment. Two of the five opened on July 1, the other three are still "being reviewed" nine days later; I haven't even been contacted as to why there's a hold up yet. I have called the bank twice and been assured that they have my applications, but this really isn't acceptable for a ladder - the whole point was the simplicity and consistency of one bank and one due date. Now I have two open accounts so I can't even walk away without creating more complexity and hassle when I wanted less.

Total Frustration Dealing With Bread

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Even though I saw the questionable reviews, I guess that I was blinded by the prospects of such great savings rates and invested with Bread, started with opening numerous external accounts.

I must say that the frustration that I experienced in the funding process and attempted CD setups made me regret my efforts. After 8 phone calls and numerous emails, I was unable to get the support I needed. Literally 10+ hours (including phone wait times) that were wasted over the last six weeks One call, I was hung up on 50 minutes into the call. He put me on hold to pass me on to a supervisor and after another 8 minute wait, I was hung up on.

Finally today I reached an outstanding rep who was responsive to my needs and she helped me setup a return of my original funding amount back to the funding source. I just hope and pray that it works out without any additional issues.

Lesson learned: Pay Attention to the DA reviews.

Frustrating. They Have No Tech Support Dept.

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Really terrible experiance trying to open a second CD and savings account. They do not have any kind of tech support dept at all and any online application problems are left up to untrained customer service people. If any kind of application rejection problem happens they tell you to use all caps on your email address and then they will tell you to use a different email address. One person said they were a supervisor and to call back and speak to the approval department. When you call back they say there is no approval department because they use two different outside company's to approve applications and customers can't talk to them. Then you'll get a online message that says to call and talk to the account security department. When you call and talk to them ask why you tried to open an account with a different email address. When you tell them customer service told you to try that they say that's completely wrong. Never in my 40 years of investing have I dealt with such an incompetent group of people.

EWP Is A Little Stiff

Is there an early withdrawal penalty with a Bread Savings CD?

Yes, an early withdrawal penalty applies. For terms shorter than 1 year, the penalty is 90 days simple interest. For terms 12 months to 3 years, the penalty is 180 days simple interest. For terms 4 years and up, the penalty is 365 days simple interest.

Easy To Open. Hard To Get Your Money Out!

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I saw the higher interest rate I was looking for a place to park $40,000. I tested the water with $100 bill to see how easy it is to deposit and withdraw money with this company.

So I deposited and waited for it to clear my bank. I waited to see the money post in the bread account.

I then attempted to withdraw it 8 Days later they hadn't even attempted to send my money back!

When I wrote to their support team asking them where my money was they locked my account.

Now this is my personal opinion run at full speed from this company don't even consider putting your money in their account you may never see it again!

Open an account with a company that offers you a debit card where you can withdraw your own money at any time at any ATM machine.

Be Aware Before You Sign Up

Bread Savings doesn’t tell you that during the first 30 days of opening an account, every deposit is subject to a 10 business day hold and you have no access to your money until after the hold. And the daily withdrawal limit past the hold period is only $5k. If I had known these arbitrary rules, I would not have signed up.

Bread Financial Products Are My Biggest Holding

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I opened an account with them so long ago that I do not remember when. Until recently, I never needed 5k+ transfers. When the situation arose, I called the Customer Service, put the request into motion and now my limit to withdraw is considerably higher.
All I had to do was JustAsk.

Best Interest Rate In The Market At October,

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The CDs rate is 3.6%, and Savings rate is 2.9% at Sep 30th, 2022 are the main reason I choose them.
The best way to open the account at this bank is first open savings account then Cds account later, and funding CDs account from savings account.

Money Trap W/840 Credit Score

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Fell into the trap just like all the others…. Moved 150k in within a couple days. Account opened for two months.

Had problems linking to capitalone to pay credit cards (no idea if that was a Bread thing.. but cap1 was a super pain about it) so tried to ACH push transfer money out.

ACH pushes are limited to 5K per with a 30K monthly. Contacted customer service and politely said that was too low for my needs. They said there was a process to request new limit so I did for the max of 50K. They denied request a couple days later saying account was too new and I could rerequest in another 90 days or something. Told them no thanks and closing account. More on principle as you can ACH pull from external institution based on external limits vs. Breads.

For reference SoFi doesn’t post their actual ACH limits either.. but when contacted customer service (immediate chat vs 3 business day wait at Bread) my limits were

ACH in/out limits with an high credit score @ SoFi:
ACH Deposit (Initiated by SoFi) Daily - 100k
ACH Deposit (Initiated by SoFi) Monthly (calendar month) - 200k
ACH Deposit (Initiated from another institution) Daily/Monthly Limit - unlimited

ACH Transfer Out (Initiated by SoFi) Daily limit - 1 Million
ACH Transfer Out (Initiated by SoFi) Monthly limit - 2 Million

Be Careful When Banking At Bread Savings

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All the reviewers' comments are 100 percent true. This bank will allow you to deposit large amounts but then it doesn't want to let you get your money when you need it. I experienced the same situations other reviewers expressed. Finally took all my money out. I do not recommend this bank. Too much trouble. I don't like it that calls to their customer service are routed to India/Bangalore.

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

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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

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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

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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

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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

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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

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