Frequently Asked Questions


 
 
About Comenity
 

Who is Comenity?

Comenity is the bank behind many of your favorite brands’ credit cards. Comenity Bank and Comenity Capital Bank have been connecting people to the retailers they love for more than 30 years. Comenity manages more than 160 credit card programs and more than 50 million customers carry its cards in their wallets. Now Comenity has expanded into online banking. Comenity Direct combines the convenience of online savings with the security of an established bank.
 
 

ARE THERE ANY COMENITY DIRECT 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. Being online-only also means you can enjoy knowledgeable, personalized customer care without going out of your way. If you have questions, simply call Comenity Direct Customer Care at 1-833-755-4354.
 
 

HOW LONG HAS COMENITY BEEN IN THE BANKING INDUSTRY?

Comenity Bank and Comenity Capital Bank have been issuing credit cards for more than 30 years. Comenity Direct was created in 2018 to offer customers a simplified banking experience and elevated customer care.
 
 
Security
 

How does Comenity Direct 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 Comenity Direct FDIC insured?

Your safety and security are everything. When you open an account with Comenity Direct, 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 COMENITY DIRECT 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 Comenity Direct 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. Please call Comenity Direct Customer Care at 1-833-755-4354.
 
 
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 Comenity Direct account number.
 
 

Which browsers does COMENITY DIRECT 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 Comenity Direct Customer Care at 1-833-755-4354.
 

I WANT TO SET UP TRANSFERS OR DIRECT DEPOSITS. WHAT IS THE ROUTING NUMBER FOR COMENITY DIRECT?

When setting up automatic transfers or direct deposits, use 124085325 as the routing number for Comenity Direct.
 

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 call Comenity Direct Customer Care at 1-833-755-4354. We’re always happy to help.
 
 

How do I change account ownership?

For help changing who owns your account, please call Comenity Direct Customer Care at 1-833-755-4354.
 
 

Is there a mobile app?

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

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 Comenity Direct Customer Care at 1-833-755-4354. We’re always happy to help.
 
 
Opening an Account
 

How do I open a Comenity Direct account?

It’s simple! You can open a Comenity Direct 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!

 
 

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

A Comenity Direct High-Yield Savings Account requires a $100 minimum opening balance. A certificate of deposit requires a $1,500 minimum opening balance.
 
 
 
 
 
 
 
 
 
 
Product Information
 

What type of products does Comenity direct 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.
 
 

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

There are a few basic differences. Our 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.
 
 

Are Comenity Direct interest rates competitive?

Yes. Our high-yield savings account and CDs offer highly competitive rates. 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 AN INTEREST RATE AND AN ANNUAL PERCENTAGE YIELD (APY)?

Interest rates and APYs have a lot in common. Both are a percentage of your principal balance that your deposit will earn each year, assuming you leave your funds in your account for 365 days. The difference is that APYs take compounding into consideration to give you the most accurate idea of what you’ll earn in a year. Interest on Comenity Direct accounts is compounded daily to maximize your savings. Our compound interest calculator shows you how fast your interest can add up.
 
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. Comenity Direct CDs require a $1,500 minimum balance.
 
 

Is there an early withdrawal penalty with a Comenity Direct CD?

Yes, an early withdrawal penalty applies. 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 Comenity Direct 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 statement copy 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 Comenity Direct 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 or Comenity Direct 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.
 
 

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. Comenity Direct CDs require $1,500 minimum balance.
 
 
Savings Account
 

Where can I learn more about a Comenity Direct High-Yield Savings Account?

If you don’t find the information you’re looking for on our website, please call Comenity Direct Customer Care at 1-833-755-4354. We’re always happy to help.
 
 

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 Comenity Direct 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 statement copy request
 
 

When do deposits to a savings account start earning interest?

When you transfer money into your account from an existing bank, your Comenity Direct High-Yield Savings Account will immediately start earning interest.
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. 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 Comenity Direct 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 Comenity Direct 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 Comenity Direct 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 Direct savings account. Requests must be made three days before the interest payment date for the change to apply to the next interest payment.
 
 

How many withdrawals or transfers are allowed from my account each month?

Federal law limits electronic and telephone withdrawals to six transactions per statement cycle.

 
 

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

Cards and checks aren’t offered because a Comenity Direct savings account isn’t designed for frequent withdrawals. Instead, it’s focused on maximizing your savings with highly competitive rates. You can make up to 6 withdrawals a month free of charge simply by transferring your funds into a linked account.
 
 

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

To take advantage of our highly competitive rates 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.