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BrioDirect Review 2023

Updated September 14, 2023
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At a glance

3.9
Rating: 3.9 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3.9 stars out of 5

Savings

Rating: 4.8 stars out of 5

MMA

Rating: 3.8 stars out of 5

About Bankrate Score

Overview

BrioDirect is best for consumers looking for an online bank with a competitive yield on a savings account and no monthly fees.

Highlights

  • Highly Rated App
  • High APY
  • No Monthly Fees
Compare offers
Info
Bank logo
Member FDIC
Savings Account
4.50
%
APY
APY
Info
As of 9/23/2023
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: No account fees & earn up to $250 w/ direct deposit. Terms apply.
Bank logo
Member FDIC
Savings Account
4.50
%
APY
APY
Info
As of 9/23/2023
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: Plus, no monthly fees and unlimited free external transfers
Bank logo
Member FDIC
Savings Account
4.75
%
APY
APY
Info
As of 9/23/2023
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: Savings Products with Competitive Rates and No Minimum Deposit

Overall

BrioDirect is an online bank that offers CDs, a money market account and a savings account. The savings account earns a high yield, yet those seeking competitive rates on a money market account or CDs should look elsewhere. The bank does not offer a checking account to new customers, nor do money market account holders have check-writing privileges.

Note: BrioDirect is not currently accepting new applications for its savings and money market account products. These accounts may reopen soon, but the bank doesn’t have a firm date yet, according to a BrioDirect spokesperson.

Pros

  • Checkmark

    BrioDirect offers competitive yields on its savings account.

  • Checkmark

    The money market account and CDs have relatively low minimum deposits.

Cons

  • BrioDirect is not accepting applications for its savings and money market accounts at this time.

  • Other banks require lower minimum deposits on savings accounts.

  • The bank's money market account doesn’t offer check writing.

  • No checking account is available to new customers.

BrioDirect banking products

4.8
Rating: 4.8 stars out of 5
Bankrate Score
Invest Rate
3.75% APY
Info
Loan
$500 minimum deposit to open

BrioDirect savings overview

BrioDirect’s high-yield savings account pays a competitive yield compared to what’s available at other institutions. You’ll need to deposit $500 to open the account, which earns interest on all balances and doesn’t charge a monthly service fee.

Note: BrioDirect is not currently accepting new applications for its savings and money market account products. While the accounts may be available again soon, the bank doesn’t have a firm date yet, according to a BrioDirect spokesperson.

Pros

  • Checkmark

    The account pays a competitive yield.

  • Checkmark

    There’s no monthly service fee.

Cons

  • Applications for the savings account are not being taken at this time.

  • The $500 opening deposit requirement is high compared to some banks.

  • Higher-yielding options are available at some other banks.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    BrioDirect
    APY
    APY
    Info
    National average APY
    See table view
    How do we get this data?
    Info
Compare Offer
Info
Bank logo
Member FDIC
Savings Account
4.50
%
APY
APY
Info
As of 9/23/2023
Rating: 5 stars out of 5
Info
$0
Min balance for APY
View offer Arrow Right
Promoted offer: No account fees & earn up to $250 w/ direct deposit. Terms apply.

Bank fees

Fee Charged?
Overdraft fee $35
Non-sufficient funds fee $35
Monthly maintenance fees None
Out-of-network ATM fee Rebates up to $20 per month in ATM surcharges imposed by other banks
Excessive transaction fee $10

About BrioDirect

BrioDirect is a no-frills online subsidiary of FDIC-insured Webster Bank that offers just three types of deposit products: a savings account, a money market 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.

Bank experience

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.

With the BrioDirect app, customers can access their accounts and send and receive money with Zelle. The iOS version of the app is more highly rated than the Android version, but both score well. The app can be used to pay bills, deposit checks, transfer money and view transactions.

How BrioDirect compares to other banks

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 is currently not taking new applications for its savings account.

When it comes to CDs, Vio Bank offers a wider range of terms than BrioDirect. Vio Bank’s CDs also pay more competitive rates than those from BrioDirect.

BrioDirect is not taking checking account applications at this time; nor does Vio Bank include a checking account in its product lineup.

BrioDirect FAQs

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.