@mtnagel said in Best Nationally Available High APY Liquid Accounts:
I opened and funded the account on July 7th. I have a linked external account, but when I try to transfer some of my money out of my Bread account into an external account, no matter what amount I put, I get the error, “That’s more than you have to transfer!” Even trying $1 gives that error. Is there a reason I can’t transfer any amount of money out? I sent them a message, but anyone here know if they have some limit where the money has to stay in your account?
To answer my own question. It turns out there is a 10 business day hold for accounts <30 days old. That gets reduced to 5 business days for older account. Kind of annoying, but it is what it is. I just wish they were more upfront with it. Here was their exact response:
Within the first 30 days following account opening, all deposits will have a 10 business day hold applied. Please note that this hold does not apply to direct deposits initiated by your external financial institution or wire deposits.
Following the 30 day new account period, the hold for electronic deposits initiated by Bread Savings (via telephone or through your online banking) will decrease to 5 business days. The hold time for deposits by check will remain at 10 business days.