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Comenity High-Yield Savings account review

A free savings account that earns 0.55% APY on your entire balance.’s rating: 4.1 / 5.0


The Comenity High-Yield Savings account is free to open and has no monthly maintenance fees. You’ll get 0.55% APY on your entire account balance once you meet the $100 opening deposit requirement. But your deposits may not be available for immediate use within the first 30 days of account opening.






Minimum deposit to open


Annual percentage yield (APY)0.55%
Minimum deposit to open$100
Minimum balance to earn interest$0
Interest compoundingDaily
Monthly transaction limit6

Review by

Kimberly Ellis is a writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.

Expert review

The Comenity High-Yield Savings account is best for customers who want a competitive interest rate. You’ll earn a competitive 0.55% APY no matter your balance. ACH transfers are free, so you can move your money between external bank accounts. But keep in mind that outgoing transfers still count against your six monthly withdrawal limit.

It’s surprising that Comenity doesn’t have a live chat customer service option — a common communication method for digital banks. So you’ll need to be comfortable calling Comenity Direct if you want immediate help with your account. Alternatively, you can always shoot the customer service team a message through your secure banking portal or send a letter to its PO Box.

5 steps to open a Comenity High-Yield Savings account

Comenity advertises that you can open an account in just a few minutes. To sign up:
  • Go to the provider’s site and follow the steps to apply.
  • Select the Comenity High-Yield Savings account and click Open in just minutes.
  • Enter your basic information, including your name and email. Click Continue.
  • Verify your email and confirm your identity by filling in your personal details, including your address and Social Security number.
  • Input your bank information to transfer the opening deposit and follow the instructions to complete the application.


To open a Comenity High-Yield Savings account, you’ll need to meet these requirements:

  • At least 18 years old
  • US citizen or permanent resident

Required information

The savings account application will ask for your:

  • Full legal name
  • Email address
  • Phone number
  • Address
  • Social Security number
  • Bank account information
  • Government-issued ID

3 benefits of a Comenity High-Yield Savings account

Consider the following advantages of a Comenity High-Yield Savings account:

  • No monthly maintenance fee. The Comenity High-Yield Savings account doesn’t have any recurring service fees.
  • Generous interest rate. Enjoy 0.55% APY on your entire savings account balance.Your interest compounds daily and credits your account on a monthly basis.
  • Free incoming wire transfers. While most banks charge for incoming wire transfers, Comenity Direct doesn’t.

3 things to look out for

Although this free account has a competitive interest rate, it comes with three distinct drawbacks:

  • Minimum opening deposit. You’ll need to fund your Comenity High-Yield Savings account with at least $100.
  • Limited customer service options. Since Comenity is a digital bank, your options for customer support are limited to phone, email and mail.
  • New account rules. Although your deposits begin earning interest as soon as they’re received, funds may not be available for withdrawal within the first 30 days of opening your account. For example, income ACH transfers are generally available after 10 business days.

Compare Comenity High-Yield Savings with other savings accounts

Use this table to compare other savings accounts by monthly fee and interest rate.

Name Product Annual percentage yield (APY) Fee Minimum deposit to open
Aspiration Spend & Save Account
Finder Rating: 4.2 / 5: ★★★★★
Aspiration Spend & Save Account
$0 per month or $7.99 per month for Aspiration Plus ($5.99 per month if you pay annually)
Deposits are fossil fuel-free. A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC and a $100 bonus when you spend $1,000 in your first 60 days.
Quontic Bank High Yield Savings
Finder Rating: 4.6 / 5: ★★★★★
Quontic Bank High Yield Savings
Interest is compounded daily. No monthly service fees. Competitive rates
Axos Bank High Yield Savings
Finder Rating: 4 / 5: ★★★★★
Axos Bank High Yield Savings
No monthly maintenance fees. No minimum balance requirements. Interest compounded daily.
American Express® High Yield Savings
Finder Rating: 4.6 / 5: ★★★★★
American Express® High Yield Savings
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
Gemini Earn
Gemini Earn
Up to 8.05%
Watch your cryptocurrency earn up to 8.05% APY with this nationwide account. Not FDIC insured.

Compare up to 4 providers

How do I deposit or withdraw my money?

Comenity Direct focuses on digital banking and offers a handful of ways to access your money:

Funding options

  • ACH transfer
  • Incoming wire transfers
  • Check deposits via mobile check capture

Withdraw options

  • ACH transfer
  • Outgoing wire transfer for a $25 fee
  • Comenity check for a $15 fee

How to contact Comenity about my savings account?

You have three ways to connect with Comenity customer service:

  • Call 833-755-4354 weekdays from 7 a.m. to 11 p.m. CT and weekends plus most holidays from 9 a.m. to 5 p.m. CT.
  • Send a secure message through your online banking portal.
  • Write to Comenity Direct, PO Box 3900, Springfield MO 65808-3900.

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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