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BrioDirect High-Yield Savings Account: Earn Expired
5.30% APY
Update: This popular deal is still available.
BrioDirect is offering 5.30% APY with their High-Yield Savings account. No monthly fee.
Thanks to staff member EfficientGame645 for finding this deal.
Details:
Slickdeals may be compensated by BrioDirect
BrioDirect is offering 5.30% APY with their High-Yield Savings account. No monthly fee.
Thanks to staff member EfficientGame645 for finding this deal.
Details:
- No monthly maintenance fee.
- $5,000 minimum to open.
- $25 minimum to earn APY
- Keep track of your savings with online and mobile banking
- Provided by Webster Bank, N.A. ("Webster Bank"), an insured FDIC institution.
Slickdeals may be compensated by BrioDirect
Original Post
Written by
Edited September 23, 2024
at 02:20 PM
BrioDirect is offering 5.30% APY with their High-Yield Savings account. No monthly fee.
Details:
*Annual Percentage Yield (APY) is accurate as of 6/4/2024. Rate is subject to certain terms and conditions. You must deposit at least $5,000 to open your account and maintain $25 to earn the disclosed APY. Rate and APY may change at any time. Fees may reduce earnings.
Slickdeals may be compensated by BrioDirect
Details:
- No monthly maintenance fee.
- $5,000 minimum to open.
- $25 minimum to earn APY
- Keep track of your savings with online and mobile banking
- Provided by Webster Bank, N.A. ("Webster Bank"), an insured FDIC institution.
*Annual Percentage Yield (APY) is accurate as of 6/4/2024. Rate is subject to certain terms and conditions. You must deposit at least $5,000 to open your account and maintain $25 to earn the disclosed APY. Rate and APY may change at any time. Fees may reduce earnings.
Slickdeals may be compensated by BrioDirect
Created 05-02-2024
at 12:12 PM
by EfficientGame645
in
Finance
BrioDirect Banking - Bank Advertiser
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If you need to withdraw all your money at once you can not
BrioDirect is an online brand of Webster Bank (FDIC insured), which has been around for almost 90 years and has 177 branch stores across the country (in case that's a benefit to you). Wealthfront is online only and not technically a bank. They distribute your money to banks that are FDIC insured, so you're covered that way.
I think both are good options, so it comes down to your personal preferences. I would opt for the higher rate if there's no major differentiator between the two products (and your money is insured), but that's just me. Some people prefer to go with a known brand they trust and will sacrifice interest in return. American Express Savings, for example, are popular despite only offering 4.25%.
You can see a listof other popular option over on our personal finance site at https://money.slickdeal
You have to send them a "special" message formatted just the way they want it. They don't have an online form or a PDF to make it easier.
On top of that, I can't get them to acknowledge in a formal way that my beneficiaries have been properly assigned.
I don't think it's too much to ask that they send me either a message, or an email, or god forbid a USPS letter showing me the beneficiary info they have on file.
They just want you to take their word for it. As anyone who's dealt with an estate after a person has died will tell you, it's pretty important that you get these details done, and done correctly.
As far as they're concerned, I have to wait till I'm dead to find out they did it incorrectly.
I'm thinking seriously of walking away from them because of this.
Rant over.
.
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It's worth noting that come June 15, SPAXX will be available in Fidelity as the core instead of that "cash" option.
You have to send them a "special" message formatted just the way they want it. They don't have an online form or a PDF to make it easier.
On top of that, I can't get them to acknowledge in a formal way that my beneficiaries have been properly assigned.
I don't think it's too much to ask that they send me either a message, or an email, or god forbid a USPS letter showing me the beneficiary info they have on file.
They just want you to take their word for it. As anyone who's dealt with an estate after a person has died will tell you, it's pretty important that you get these details done, and done correctly.
As far as they're concerned, I have to wait till I'm dead to find out they did it incorrectly.
I'm thinking seriously of walking away from them because of this.
Rant over.
.
Get a trust
A trust is interesting, but I think even if one had a trust in place, I don't see why they wouldn't want beneficiaries on cash accounts.
Please go intro more detail on why you think a person with a trust wouldn't need, and or want, beneficiaries on their bank accounts?
.
Please go intro more detail on why you think a person with a trust wouldn't need, and or want, beneficiaries on their bank accounts?
.
If you need to withdraw all your money at once you can not
Thanks, that's a deal breaker for me. If they suddenly lower their rate, your money could be locked up for many months. I have no problem swinging a quarter Mill in and out of CIT Bank in one day.
Or open a joint account and get coverage up to $500,000
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Higher APY, means higher risk. However, there's no guarantee Webster/Brio is any better. That's why you have FDIC insurance.
Higher APY, means higher risk. However, there's no guarantee Webster/Brio is any better. That's why you have FDIC insurance.
I'll stick with Treasury Bond ETFs all day over any HYSA, let alone a Fintech or an institution that has as high of a risk factor as anything Flagstar Bank related.
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I'll stick with Treasury Bond ETFs all day over any HYSA, let alone a Fintech or an institution that has as high of a risk factor as anything Flagstar Bank related.
In terms of funds recouping, when Silicon Valley Bank went down, the funds was immediately available the next business day.
https://www.fdic.gov/news/press-r...23016.html
It's of course up to you where you put your money, but just remember, the government too can fail. Better put it in lumps of gold under your mattress and hope the US doesn't become an authoritarian country. 🤣
That said, between 4.6% and 5.55, it's roughly about $120 a month on $150k, so it depends on how many months. Only you can figure that out.