BrioDirect Review 2024
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At a glance
CDs
Savings
About Bankrate Score
Overview
BrioDirect is best for consumers looking for an online bank with a competitive yield on a savings account without monthly fees. The bank doesn’t offer checking or money market accounts, though, so those looking to consolidate their finances under one roof should look elsewhere.
Highlights
- High APY
- Highly Rated App
- No Monthly Fees
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Overall
BrioDirect is an online bank that offers CDs and a savings account. While the savings account earns a high yield, most of the bank’s CDs generally leave a lot to be desired. As such, those looking for a wide range of CDs offering high yields should look elsewhere. Moreover, BrioDirect recently discontinued its money market account.
Pros
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BrioDirect offers competitive yields on its savings account.
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Some of the bank’s CDs offer solid APYs for a reasonable minimum deposit amount.
Cons
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BrioDirect doesn’t offer a money market or checking account.
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Other banks require lower minimum deposits on savings accounts.
BrioDirect banking products
APY last updated between 10/29 and 11/4.
BrioDirect savings overview
Pros
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The account pays a competitive yield.
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There’s no monthly service fee.
Cons
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The $5,000 opening deposit requirement is high compared to some banks.
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High-yielding options with lower deposit requirements are available at some other banks.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
BrioDirectAPYAPY last updated between 10/29 and 11/4.APYAPY last updated between 10/29 and 11/4.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Bank fees
Fee | Charged? | |
---|---|---|
Overdraft fee | $35 | |
Non-sufficient funds fee | $35 | |
Monthly maintenance fees | None | |
Out-of-network ATM fee | $3 | |
Excessive transaction fee | None |
Customer experience
Customer support. BrioDirect customer service is available on weekdays from 8 a.m. to 8 p.m. Eastern and on Saturdays from 8:30 a.m. to 3 p.m.
Mobile banking. With the BrioDirect app, customers can access their accounts and send and receive money with Zelle. The iOS version of the app receives higher marks than the Android version, but both score well. The app can be used to pay bills, deposit checks, transfer money and view transactions.
About BrioDirect
BrioDirect is a no-frills online subsidiary of FDIC-insured Webster Bank that offers just two types of deposit products: a savings account and a range of CDs. The straightforward account application process takes just a few minutes, and you can fund your account by transferring money from another bank, mailing a check or wiring money.
How BrioDirect compares to other banks
Compare different account types offered by BrioDirect. Annual percentage yields (APYs) shown were updated between Oct. 29, 2024 and Nov. 4, 2024.
Selected bank
BrioDirect savings account
Bankrate score
4.6
Bankrate Savings rating = 4.6/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
CIBC Bank USA savings account
Bankrate score
4.9
Bankrate Savings rating = 4.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Search for or select a bank:
Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Oct. 29, 2024 and Nov. 4, 2024.
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5.00% | 4.61% | |
Minimum balance for APY
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$5,000.00 | $0.00 | |
Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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$2,500 | $2,305 | |
The BrioDirect High-Yield Savings Account offers a competitive yield and it doesn’t have a monthly service fee. There's a required minimum opening deposit of $5,000 for this account. | The CIBC Bank USA Agility Savings Account offers a very competitive yield. There’s no monthly fees, although you’ll need to have at least $1,000 to open an account. | |
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N/A
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N/A
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APY offering:
5.00%
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$5,000.00
2/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Good
4/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
|
APY offering:
4.61%
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Good
4/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
|
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The lowest deposit amount an account must have before it can earn interest.
A monthly charge a financial institution deducts from an account if certain requirements are not met.
The lowest balance an account must maintain in order to avoid a fee.
A procedure that allows an individual or organization to access and manage the funds of another account holder.
Bankrate does not currently track additional product details for this bank.
|
BrioDirect vs. Vio Bank
BrioDirect and Vio Bank are both digital banks that don’t operate branches, so both could be a good choice for anyone who’s comfortable with banking entirely online.
Both banks pay above average yields on their savings accounts, although BrioDirect’s account earns a significantly higher rate. However, note that BrioDirect isn’t offering a money market account anymore, but Vio Bank still is, and it offers a very high rate.
When it comes to CDs, BrioDirect offers a wider range of terms, but Vio Bank’s CDs generally pay much higher rates.
BrioDirect FAQs
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
BrioDirect customer reviews
BrioDirect has 22 reviews
Dive into community reviews below and see what others think about BrioDirect.
In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.
Community Reviews
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