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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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The bonus with SoFi only is awarded if the money is a qualifying direct deposit of at least $5000 within 45 days of account opening. You'd have to verify if the deposit from your sale would qualify as a DD, and I doubt it would because it isn't a type of payroll/government deposit.
Believe there is a deal with Chase right now where you can open a checking and savings account together and as long as you put in at least $15K and keep it there for I think 90 days, they pay you $900. No interest on the accounts though, you can't close before 180 days, and you have to keep at least $5K in them to avoid fees. You could open that account, park $15K for 3 months and drop the other $135K into the MBD at 5.55% for the same 3 months and have about $2.7K extra as opposed to only $2K, though you'd still have $5K tied up in Chase for at least another 3 months. Of course, if you can park it all for 6 month using this method, you'd still be money ahead provided that MBD doesn't reduce their interest rate.
That said, SoFi doesn't seem to have a limit on how much you can transfer to a linked account, so you COULD get all your money out within a couple days.
Believe there is a deal with Chase right now where you can open a checking and savings account together and as long as you put in at least $15K and keep it there for I think 90 days, they pay you $900. No interest on the accounts though, you can't close before 180 days, and you have to keep at least $5K in them to avoid fees. You could open that account, park $15K for 3 months and drop the other $135K into the MBD at 5.55% for the same 3 months and have about $2.7K extra as opposed to only $2K, though you'd still have $5K tied up in Chase for at least another 3 months. Of course, if you can park it all for 6 month using this method, you'd still be money ahead provided that MBD doesn't reduce their interest rate.
That said, SoFi doesn't seem to have a limit on how much you can transfer to a linked account, so you COULD get all your money out within a couple days.
For the chase deal, do you have to be a new customer to chase? That's my main bank I have several accounts and cards with
Yes, new customer only. Can't have had an account with them for 1-2 years or whatever they set their limit to now.
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?
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If you're adding your accounts into the trust, that's already handled by the trust, no? Of course, as another person wisely said, if you're only holding the account short-term, it may not be with your effort to transfer it into the trust.
48 months
I'm not an expert in trust accounts, but I believe the account has to be opened in the name of the trust to be held by the trust.
If the account is properly named and included in the trust, it would be handled by the trustee like any other asset in the trust.
With all that being said, the easiest way to bequeath assets to someone is to name them as a beneficiary. This is much easier for everyone involved.
I'm not saying trusts are a bad idea. But in my case, most of my assets are in accounts that have beneficiaries named on them. So a trust doesn't offer any real advantage to me, at least as far as I'm concerned.
My original post was meant to highlight the unusually difficult time I had adding beneficiaries at this otherwise easy to deal with online bank. As I said in an earlier post, for me, having a couple of hundred thousands dollars in an account without naming beneficiaries is just foolish.
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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.
The SVB situation was massive...that's why it was resolved rather quickly I believe. Juno and Yotta are much smaller, yet still FDIC insured, and there's still no resolution and peoples' funds remain in limbo. So not all situations are equal, and I wouldn't put Flagstar Bank on the same level as that of SVB (~$90M vs. ~$210M).
The Treasury Bond ETFs are also state tax exempt and have been yielding in the 5.3x% range for multiple months. For a significant number of folks, that's a better overall net gain than what 5.5% APY via MBD will yield post taxes, and with much less risk, IMHO.
But yes, bottom line, we can all invest our money how we like. I'm already loaded up on silver and have the bars buried in a hidden underground passageway to freedom. I'm kidding...or not.
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The SVB situation was massive...that's why it was resolved rather quickly I believe. Juno and Yotta are much smaller, yet still FDIC insured, and there's still no resolution and peoples' funds remain in limbo. So not all situations are equal, and I wouldn't put Flagstar Bank on the same level as that of SVB (~$90M vs. ~$210M).
The Treasury Bond ETFs are also state tax exempt and have been yielding in the 5.3x% range for multiple months. For a significant number of folks, that's a better overall net gain than what 5.5% APY via MBD will yield post taxes, and with much less risk, IMHO.
But yes, bottom line, we can all invest our money how we like. I'm already loaded up on silver and have the bars buried in a hidden underground passageway to freedom. I'm kidding...or not.
You think -$90m vs $210m is a concern for the feds?
Talk about missing the forest for the tree and making a mountain out of a mole hill. It's not an issue.
In terms of TBs, sure. I live in tax free state and aren't subject to it either way. Personally, I prefer earning more and having access to funds to take advantage of opportunities that come up, rather than lock it up.
In other words, if they're FDIC insured or SIPC insured (for brokerages), it's fine. I'm not concerned especially with FDIC. They're not going to risk panic, and why they pay out immediately. Their function is literally to protect trust and so delaying payout will have massive effect causing what they're preventing to get even worse.
Anyhow, I'm a risk taker for larger gain. Sometimes you will loose some, but more often than not you end up far ahead of those afraid of taking risks. In this case, you're as good as protected and as you said (which is obvious) is that if the government fails, your money is worthless and you better have that food/medicine/water store ready, because gold won't buy you anything.
You think -$90m vs $210m is a concern for the feds?
Talk about missing the forest for the tree and making a mountain out of a mole hill. It's not an issue.
In terms of TBs, sure. I live in tax free state and aren't subject to it either way. Personally, I prefer earning more and having access to funds to take advantage of opportunities that come up, rather than lock it up.
In other words, if they're FDIC insured or SIPC insured (for brokerages), it's fine. I'm not concerned especially with FDIC. They're not going to risk panic, and why they pay out immediately. Their function is literally to protect trust and so delaying payout will have massive effect causing what they're preventing to get even worse.
Anyhow, I'm a risk taker for larger gain. Sometimes you will loose some, but more often than not you end up far ahead of those afraid of taking risks. In this case, you're as good as protected and as you said (which is obvious) is that if the government fails, your money is worthless and you better have that food/medicine/water store ready, because gold won't buy you anything.
And again, ask those with funds in "FDIC Insured" Juno and Yotta accounts how much the FDIC is helping them. They're not, and the hostage of funds is going on nearly a month now.
And again, ask those with funds in "FDIC Insured" Juno and Yotta accounts how much the FDIC is helping them. They're not, and the hostage of funds is going on nearly a month now.
That is not the situation with Flagstar/MyBankingDirect, which is itself the bank. If you join a fly by night startup, then yeah, you should be concerned. Apples to Oranges. Neither BrioDirect or Flagstar/MyBankingDirect is operating in that manner. Both operate like Silicon Valley Bank.
If you need to withdraw all your money at once you can not
I have an account there. A few months ago I withdrew 30k in one transaction with no problem. It's a savings account, and they have a monthly limit of 5 transactions in or out.
https://www.mybankingdi
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I opened my account more than a few months ago. If I remember correctly, it was opened, and available for me to log in to immediately.
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