Bread Savings

There are things I appreciate about my new HYSA — mobile check deposit, the ability to set up recurring transfers into the account, the ability to message customer service, and competitive interest (although the 3.97% rate currently displayed in my account is lower than the 4.05% rate currently being advertised on their website, which is frustrating — I know rates can change after you open the account, but I only opened it a couple days ago). I was disappointed to see that I’m limited to depositing $2,500 per check and $25,000 per month. My previous savings account had much higher deposit limits, which prevented headaches on occasions when I had a large check I wanted to deposit straight into savings. Also, I took advantage of setting up two monthly recurring transfers today and then was blocked from setting up a third transfer because I supposedly exceeded my daily transfer limit. But the total of the recurring monthly transfers was less than $1,500, and I didn’t actually transfer any money today — I simply set up *future* recurring transfers. So I’ve now hit multiple issues with moving my own money around with ease, which makes me consider continuing my search for a bank that balances competitive interest with staying out of the customer’s way.

I just installed the APP and I found it both simple and intuitive. I think it's particularly helpful in that the screens and buttons copy and/or closely mimic the screens of the online web interface, providing new users the advantage of familiarity from the beginning. As for the Bank: I joined Bread Savings via their online portal about two weeks ago. I set-up a joint account and linked it three other banks, but I did need help finding answers to several “Process questions and some “Terms & Conditions” questions, during the first 10 days or so. I conveyed my questions both via their online "EMail" and via phone; and sometimes both (just to verify my understanding and"get it in writing"). My calls were answered in reasonable time, and my EMail notes were answered within in a day or two. Their support system seems to work well, the agents I interfaced-with seemed to be well-versed and their follow-up was always as-promised. In summary, my experience with Bread Savings has been remarkably satisfying, especially when compared with other banks.

The reason for 4 stars and not 5 is because Comenity has these crazy withdraw limits. Back in November, I needed to withdraw a significant amount of money and found out I could only with draw 5k a day. I had to call to have my limit raise. It was raised temporarily for a month and I subsequently had to call back to get it raise permanently. I think this is a flaw that needs to be fix today. Now the app. The app is great. You can message customer service and they respond very quickly during the weekday, not so much on the weekend, which is fair. One major improvement would be a total asset line. If you have a savings, CD, and or checking (I don’t think they offer) you should be able to see your total assets.