Bread Savings (CIT) -- anyone else using them?

So I opened an account at Bread Savings (which is CIT Bank under a different name I guess?) about 3 months ago because they were offering 4.05% APY which was higher than Ally at the time. Wanted to share my experience since nobody really talks about them here.

The good:
- Rate has been steady at 4.05%, hasnt dropped like Ally did
- FDIC insured (through CIT Bank)
- No minimum balance, no fees
- ACH transfers work fine

The bad:
- The website looks like it was built in 2015. Like seriously. Its functional but ugly.
- No mobile app. You have to use the mobile website which is... not great on a phone
- Transfer times are slow. 3-4 business days every time. Never faster.
- Customer service is email only for basic stuff. You CAN call but the wait times are bad from what ive read.

Overall: fine for a set-it-and-forget-it savings account. I wouldnt use it as my primary HYSA because the lack of an app is annoying. But as a secondary account for money you dont touch much its a solid option.

Anyone else using them?

I had a CD with CIT a few years back (before they rebranded the savings stuff as Bread). No complaints but I agree the website is pretty bad. Like it works but it feels outdated. Ally's interface is leagues ahead.

Is the extra 0.05% over Ally worth the worse experience though? On $50k thats $25/year. I'd rather have a good app honestly.

I use Bread for my CD ladder actually. Their CD rates are competitive and I dont need a fancy app for CDs since I literally open them and don't touch them for months.

For savings though I stick with Ally. You hit the nail on the head about the transfer times -- when I need to move money from savings I want it faster than 3-4 days. Ally does it in 1-2 usually.

Also worth noting CIT/Bread has been around since the 1900s (seriously look it up, they were founded in like 1908). So stability isnt a concern. They're not some random fintech startup thats going to disappear.

I moved some money to Bread last year for the rate and honestly regretted it. The transfer times were the dealbreaker for me. Had a situation where I needed to move $2k to my checking account for an unexpected car repair and it took 4 business days. With Ally it would have been next day.

For anyone considering it -- if you have a dedicated emergency fund that you truly never touch, Bread is fine. But if theres any chance you need quick access, stick with Ally or Marcus.

edit: also the lack of an app is wild for 2026. like come on.

never heard of bread savings tbh. sounds like ally with a worse website and slower transfers? why would anyone use this

@dave_in_ohio Because the rate is consistently slightly higher than Ally. If you have significant savings and don't need to access them frequently the higher rate adds up.

For example on $100k:
- Ally at 4.00% = $4,000/year
- Bread at 4.05% = $4,050/year

Ok so thats only $50. Not exactly life changing. But the principle is the same -- if you're going to park money somewhere for a long time, might as well get the best rate.

But yeah for most people its not worth the tradeoffs. I'm just weird about optimizing this stuff.

This entire thread is a perfect example of what I keep saying about this forum. You're all spending hours researching and discussing the difference between 4.00% and 4.05% APY. On $50k thats $25. You probably spent more than $25 worth of your time reading this thread.

Just pick an account and put your energy into earning more money or investing it. The savings account rate is the LEAST important financial decision you'll make this year.