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BrioDirect Review 2024

Updated January 2, 2024
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At a glance

4.1
Rating: 4.1 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.9 stars out of 5

Savings

Rating: 4.6 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 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
Sponsored offers
Info

These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
CD
5.15
%
APY
APY
Info
As of 7/12/2024
Rating: 4.9 stars out of 5
$500
Minimum deposit
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
CD
5.10
%
APY
APY
Info
As of 7/12/2024
Rating: 4.9 stars out of 5
$500
Minimum deposit
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
CD
5.05
%
APY
APY
Info
As of 7/12/2024
Rating: 4.5 stars out of 5
$0
Minimum deposit
View offer Arrow Right
Promoted offer:

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

  • Checkmark

    BrioDirect offers competitive yields on its savings account.

  • Checkmark

    Some of the bank’s CDs offer solid APYs for a reasonable minimum deposit amount.

Cons

  • BrioDirect doesn’t offer a money market or checking account.

  • Other banks require lower minimum deposits on savings accounts.

BrioDirect Logo

We want to know what you think about BrioDirect

Do you have experience with BrioDirect? Let us know your thoughts.

BrioDirect banking products

4.6
/5
Rating: 4.6 stars out of 5
See methodology Compare savings rates
SCORE BREAKDOWN
APY offering:
5.30%
Rating: 5 stars out of 5
5/5
Info
Minimum balance to earn interest:
$5,000.00
Rating: 2 stars out of 5
2/5
Info
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Access to funds:
Good
Rating: 4 stars out of 5
4/5
Info

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 $5,000 to open the account, which earns interest on all balances and doesn’t charge a monthly service fee. You’ll need to maintain $25 to earn the disclosed APY.

Pros

  • Checkmark

    The account pays a competitive yield.

  • Checkmark

    There’s no monthly service fee.

Cons

  • The $5,000 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
    How do we get this data?
    Info

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 July 5, 2024 and July 11, 2024.

Selected bank
BrioDirect savings account
BrioDirect Logo
Member FDIC
Bankrate score
Rating: 4.6 stars out of 5
4.6
Info
Most comparable
CIBC Bank USA savings account
CIBC Bank USA Logo
Member FDIC
Bankrate score
Rating: 4.7 stars out of 5
4.7
Info
Read review
Search for or select a bank:
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Bankrate score
Info
Read review
APY
Info
5.30% 5.01%
Minimum balance for APY
$5,000.00 $1,000.00
Estimated earnings
Info
$1,325 $1,253
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 $25 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.
  • BrioDirect offers a competitive yield on its High-Yield Savings Account.
  • You can open this account with only $25.
  • This account doesn’t have a monthly service fee.
  • You won’t pay a monthly service fee with CIBC’s Agility savings account.
  • You’ll earn a very competitive yield with this account.
    N/A
  • Some banks offer even higher savings yields.
  • Some banks don’t have a minimum opening deposit requirement
  • A $1,000 minimum opening deposit is required to open the CIBC Agility Savings account.
    N/A
APY offering:
5.30%
5/5
Info
Minimum balance to earn interest:
$5,000.00
2/5
Info
Monthly service fee:
$0.00
5/5
Info
Minimum balance to avoid fee:
$0.00
5/5
Info
Access to funds:
Good
4/5
Info
APY offering:
5.01%
5/5
Info
Minimum balance to earn interest:
$1,000.00
3/5
Info
Monthly service fee:
$0.00
5/5
Info
Minimum balance to avoid fee:
$0.00
5/5
Info
Access to funds:
Good
4/5
Info
Info
Info
Info
Info
Info
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

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.