Frequently asked questions



circle question mark About Bread Financial

Who is Bread Financial?

Bread Financial is a tech-forward financial services company that offers simple, personalized payment, lending and saving solutions. We create opportunities for our customers and partners through digitally enabled choices that bring ease, empowerment and financial flexibility.

Are there any Bread Savings branch locations I can visit?

As an online bank, we don’t have brick-and-mortar locations. The low overhead is what allows us to offer highly competitive rates.1 Being online-only also means you can enjoy knowledgeable, personalized customer care without going out of your way.











unlock icon Security

How does Bread Savings ensure that my information is secure?

We take numerous measures to protect your identity. For example, we require you to authenticate your identity for all information requests and transactions. Other safeguards happen behind the scenes, like monitoring our systems around the clock to keep your personal information private. Whether you’re making transactions online or through our app, you can bank with confidence.

Is Bread Savings FDIC insured?

Your safety and security are everything. When you open an account with Bread Savings, you can sleep easy knowing deposits are FDIC insured up to $250,000 per depositor for each ownership category. Deposits held in different ownership categories are separately insured, up to at least $250,000, even if held at the same bank. Get detailed information about your specific deposit insurance coverage by visiting the FDIC website at fdic.gov where you can access the Electronic Deposit Insurance Estimator (EDIE) and enter information about your accounts.

Does Bread Savings share my personal information with other companies?

We respect your privacy and only share your information for security, fraud prevention or other purposes permitted by law. For more information, please view our Privacy Policy.

Why can’t I send account information to Bread Savings via email?

When you send an email, your message may pass through many servers—and many people with access to those servers. For security purposes, please do not send any confidential account information via email. Our online banking portal is a secure way to contact us.











person silhouette User IDs and account access

What should I do if I forget my User ID or Password?

Click the “Forgot?” link at sign in. You can access your username and reset your password by providing your Social Security number and Bread Savings account number.

Which browsers does Bread Savings support?

We support recent versions of many web browsers across Windows, OSX, iOS and Android. For a seamless experience when signing up for an account, please use a browser other than Internet Explorer such as Chrome, Edge or Safari. If you have trouble accessing our website or experience technical issues, please call Bread Savings Customer Care.

How do I add a joint account owner?

Joint ownership is a great way to work toward shared financial goals. You can add a joint account owner at account opening, or you can submit a “Change of Information/Add Joint Owner Form” from the resources link on our website here. This form must be signed in ink prior to submission.

How do I change account ownership?

For help changing who owns your account, please call Bread Savings Customer Care.

Is there a mobile app?

Yes. With our Bread Savings mobile app, you can make deposits and withdrawals, check your balance and contact customer care, right from your smartphone.

Download for IOS

Download for Android

I'm having difficulty signing in. What should I do?

Please refer to What should I do if I forget my user ID or password? above. If you still have difficulty signing in, please call Bread Savings Customer Care at 1-833-755-4354. We’re always happy to help.











person and plus sign Opening an account

What are the eligibility requirements for opening a Bread Savings account?

To be eligible to open a Bread Savings Online Account, you must be at least 18 years of age, be a United States (U.S.) citizen or resident alien, have a valid U.S. government-issued Social Security Number (SSN) and have a physical U.S. address.

Note: Only individuals may open a sole or joint ownership account.

How do I open a Bread Savings account?

It’s simple! You can open a Bread Savings account in just minutes:

  1. Fill out a quick application—just some basic information and funding details.
  2. Transfer $1,500 or more into your CD or $100 or more into your high-yield savings account.
  3. Start saving!
Open an account

What is the minimum deposit to open a savings account or a CD?

A Bread Savings high-yield savings account requires a $100 minimum opening balance. A certificate of deposit requires a $1,500 minimum opening balance.

When do funds get transferred into my new Bread Savings account?

Funds will be reflected in your account once your funds are received. Most fund transfers take place within 3 to 5 business days. Accounts opened at the end of the business day will not be processed until the next businessday (business days are Monday through Friday, excluding federal holidays).

We do not make micro-deposits into the funding account, so there’s less time to wait for your funds to transfer. If funds are not reflected in your account after 3-5 business days, please contact Bread Savings Customer Care for further assistance.











circle with exclamation mark Product information

What type of products does Bread Savings offer?

To maximize your savings, we offer a high-yield savings account and 1-, 2-, 3-, 4- and 5-year CDs. Typically, the longer the term, the higher the rate.

Is Bread Savings FDIC insured?

Your safety and security are everything. When you open an account with Bread Savings, you can sleep easy knowing deposits are FDIC insured up to $250,000 per depositor for each ownership category. Deposits held in different ownership categories are separately insured, up to at least $250,000, even if held at the same bank. Get detailed information about your specific deposit insurance coverage by visiting the FDIC website at fdic.gov where you can access the Electronic Deposit Insurance Estimator (EDIE) and enter information about your accounts.

Are Bread Savings interest rates competitive?

Yes. Our high-yield savings account and CDs offer highly competitive rates1. We monitor the top annual percentage yields (APYs) to keep your savings growing so you can maximize your savings and all the meaningful moments they help fund.

What's the difference between a high-yield savings account and a CD?

There are a few basic differences. Our high-yield savings account offers flexible access to your funds, and the rates are variable, meaning they may go up or down over time. Our CDs offer access to your funds, too, but penalties may apply if withdrawals are made before maturity. Our CDs pay higher rates than our savings account and, typically, the longer the term of the CD, the higher the rate.











stack of dollar bills Certificate of Deposit

What is a certificate of deposit (CD)?

A CD is a savings certificate with a fixed interest rate and maturity date. Penalties may apply if withdrawals are made before maturity. CDs are insured by the FDIC up to $250,000 per depositor. Bread Savings CDs require a $1,500 minimum balance.

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.

Are there fees or penalties associated with a Bread Savings CD?

Many of our CD services are FREE, including:

  • Automated clearing house (ACH) transfers
  • Monthly maintenance
  • Incoming wire transfers

There are a few fees, but no hidden ones:

  • $25 outgoing wire transfer fee
  • $15 per official check request
  • $5 per paper statement request

CDs can be auto-renewed at maturity or cashed out within the 10-day grace period. An early withdrawal penalty applies. Please refer to "Is there an early withdrawal penalty with a Bread Savings CD?" above.

How does the interest on a CD accrue?

Interest is accrued and compounded daily, and credited and posted monthly.

Can the interest be paid out?

Interest is automatically added back to your account because the annual percentage yield (APY) assumes interest remains on deposit until maturity. However, you can contact our customer care center to have interest paid out monthly via automated clearing house (ACH) electronic transfer to a verified Bread Savings or other verified savings account. Requests must be made three days before the interest payment date for the change to apply to the next interest payment.

What is a CD ladder?

A CD ladder is a strategy to maximize your returns and liquidity. Instead of investing in one CD, you open a series of CDs with escalating maturity dates so they come due on a regular basis.

Learn More

CD Ladder calculator

Can I add funds to my CD?

Yes. When your CD matures, you have 10 calendar days to increase its value.

What happens when my CD matures?

You’ll be notified days in advance that the maturity date is approaching. Unless you’re notified otherwise, your CD will automatically renew at maturity. The term will remain the same, but the rate and APY will be those offered at the time of renewal for the specified term. You’ll have 10 calendar days to withdraw the funds or close the account without penalty. Bread Savings CDs require a $1,500 minimum balance.











piggy bank icon Savings account

Where can I learn more about a Bread Savings high-yield savings account?

If you don’t find the information you’re looking for on our website, please call Bread Savings Customer Care.

What is the minimum deposit required to open a savings account?

A $100 minimum opening balance is required.

Are there any fees associated with a Bread Savings high-yield savings account?

Many of our high-yield savings account services are free, including:

  • Monthly maintenance
  • Automated clearing house (ACH) transfers
  • Incoming wire transfers

There are a few fees, but no hidden ones:

  • $25 outgoing wire transfer fee
  • $15 per official check request
  • $5 per paper statement request

When do deposits to a savings account start earning interest?

  • When you transfer money into your account from an existing bank, your Bread Savings high-yield savings account will immediately start earning interest.
  • New account deposits must be by automated clearing house (ACH) transfers and received before 5 p.m. CT on a business day (Monday through Friday, excluding federal holidays).
  • Deposits begin earning interest from the moment they are received, but may not be immediately available for withdrawal.
  • Each account you open is considered new during the first thirty (30) days after the account is opened.
  • For new accounts, funds from ACH transfers will generally be available on the tenth business day after Bread Savings receives the ACH transfer. However, these funds may be available earlier, depending on the type of ACH transfer.
  • Deposits received after 5 p.m. CT or on a non-business day are received on the next business day.

How do I link accounts to my Bread Savings account?

  1. Sign in to your online banking account.
  2. Click the + icon in the Accounts tab.
  3. Click Make External Transfers.
  4. Enter your password or answer the security question.
  5. Choose the bank with the account you want to link. If you don’t see your bank, enter its name in the search field.
  6. Enter the account name, routing number, account number and account type and click Submit.
  7. Within 2-4 business days, you’ll receive two test deposits of less than $.99 each in the account you want to link.
  8. Sign in to your Bread Savings account, select External Transfers, select the account you want to link and verify the test deposit amounts.
  9. You’ll receive an Account Verified message.
  10. Your account will now appear in the External Transfers account list.
If you have questions, please call Bread Savings Customer Care at 1-833-755-4354.

Can I have the interest paid out?

Interest is automatically added back to your account. However, you can contact our customer care center to have interest paid out monthly via automated clearing house (ACH) electronic transfer to a verified or Comenity Capital Bank savings account. Requests must be made three days before the interest payment date for the change to apply to the next interest payment.

Do you offer ATM cards, debit cards or checks with your high-yield savings account?

Cards and checks aren’t offered because a Bread Savings account isn’t designed for frequent withdrawals. Instead, it’s focused on maximizing your competitive rates1

Will I be charged a fee if I fall below a certain balance?

To take advantage of our highly competitive rates1 and maximize your savings, we encourage you to maintain the $100 minimum balance in your savings account that was required at account opening. However, you won’t be charged a fee if you fall below the account opening minimum.











document icon 1099 form

What is a 1099-INT form?

Internal Revenue Service (IRS) form 1099-INT is an annual tax form provided by payers of interest income, such as banks. The 1099-INT form is issued to individuals and businesses paid an aggregate of at least $10 in interest or dividends during the calendar year. If you receive this form, be sure to keep it for your records. You do not need to attach it to your tax return.

When will I get my tax form?

Each year, Internal Revenue Service (IRS) 1099 tax forms will be provided to the primary account owner on or before January 31 (or the next business day if January 31 falls on a weekend or legal holiday).

Although the exact date will vary, electronic tax forms will be made available to the primary account owner via online banking. You will receive an email notification when the tax form is available to view, download and print in the “Documents” section of online banking.

We will also furnish a paper 1099 tax form via the U.S. Postal Service. The tax form will be sent to the primary account owner’s mailing address. This means that all primary account owners should make sure that their mailing address on file is correct. Due to the large volume of tax forms mailed through the U.S. Postal Service during January, it may take several days to receive the paper tax form.

If you do not receive your tax return documents by February 15, please call Bread Savings Customer Care or send a message through our online banking portal to request another copy.

Why didn’t I receive a 1099-INT form?

The IRS requires banks to issue a 1099-INT form if an individual or business has paid at least $10 in interest or dividends during the calendar year.

If you have a joint account, only the primary owner will receive the form (this is generally the first person listed on the account). Because only one name and Social Security number can be documented on a 1099-INT form, all income is reported to the IRS under the primary owner. This rule applies to both joint ownership by a married couple or another individual (partner, child, etc.).

What is the Employer Identification Number (EIN)?

The Comenity Capital Bank EIN is 65-1180275. Bread Savings is a brand of Comenity Capital Bank, member FDIC.

What if I have a question or find a mistake on my tax form?

If you have questions or suspect a mistake, please call Bread Savings Customer Care or send a message through our online banking portal. We’re open 7 a.m. to 9 p.m. CST, Monday through Friday, and from 9 a.m. to 5 p.m. CST on the weekend and most holidays. Depending on the situation, you may be required to complete additional forms or provide supporting documents.