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BrioDirect High-Yield Savings Account: Earn Expired

5.30% APY
+71 Deal Score
126,017 Views
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:
  • 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 9/17/2024. 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

Original Post

Written by
Edited September 23, 2024 at 02:20 PM by
BrioDirect is offering 5.30% APY with their High-Yield Savings account. No monthly fee.

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.
The APY dropped 0.05% on 6/4/24, 5.35% --> 5.30%

*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
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+71
126,017 Views
5.30% APY
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

191 Comments

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Featured Comments

be aware that they have a weekly withdrawal limit.
If you need to withdraw all your money at once you can not
I haven't used them personally, but a coworker of mine has and he said they're solid. Not just the rate, but ease of use, mobile app, customer service etc. was great. Wealthfront looks like a solid option as well, but it's technically not a HYSA. At least not in the traditional sense since it has checking account features built into it as well.
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.slickdeals.net/best-savings-accounts/
My only complaint with them is how they handle beneficiaries.

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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Joined Feb 2010
L2: Beginner
> bubble2 220 Posts
26 Reputation
alpha0meqa
06-08-2024 at 04:44 PM.
06-08-2024 at 04:44 PM.
Quote from onlycash :
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.


.

Damn idk why mine isn't instant.
Reply
Joined May 2005
L5: Journeyman
> bubble2 875 Posts
151 Reputation
meranamjoker
06-08-2024 at 04:56 PM.
06-08-2024 at 04:56 PM.
Quote from Fredrick-VonN :
5.55 at my banking direct

https://www.mybankingdirect.com/
mybankingdirect has limitations on withdrawals. can't withdraw more than 50k/transaction or 200k in 30 day rolling period.
might be dealbreaker for many.
Reply
Joined May 2005
L5: Journeyman
> bubble2 875 Posts
151 Reputation
meranamjoker
06-08-2024 at 04:59 PM.
06-08-2024 at 04:59 PM.
Be aware that Brio has withdrawal limits too. A big deal breaker for me..

Clients are eligible for standard outbound transfers up to $25,000 that are completed within 3 business days (provided that funds are available). For standard outbound transfers, the client must wait until an outstanding transfer(s) that exceeds $25,000 has settled before another transfer can be initiated, including any scheduled transfers. The monthly limit on outbound transactions is $100,000. You may be eligible to transfer additional amounts in excess of these limits by calling our contact center at 877.369.BRIO.

You cannot add/transfer funds to or from an account that you are not a listed owner on.
Reply
Joined Oct 2010
L2: Beginner
> bubble2 87 Posts
56 Reputation
saturnman9
06-08-2024 at 08:40 PM.
06-08-2024 at 08:40 PM.
Ask your current bank to match. Mine did.
1
Reply
Joined Dec 2011
L6: Expert
> bubble2 1,054 Posts
53 Reputation
shaolinwookie
06-09-2024 at 09:08 AM.
06-09-2024 at 09:08 AM.
might switch if ufb direct doesnt increase it, i also had an issue taking out money using the atm card
Reply
Joined Dec 2011
L6: Expert
> bubble2 1,054 Posts
53 Reputation
shaolinwookie
06-09-2024 at 09:15 AM.
06-09-2024 at 09:15 AM.
Quote from Fredrick-VonN :
5.55 at my banking direct

https://www.mybankingdirect.com/
yeah, i signed up with alliant cd promo that i think only paid out 5.45 Frown bankingdirect increased it right after

maybe i can ask if they cant match
Reply
Joined Oct 2006
Spending $$$ on Deals
> bubble2 169 Posts
20 Reputation
jusjoseph
06-09-2024 at 10:49 AM.
06-09-2024 at 10:49 AM.
Quote from publicpersona :
If you already have a brokerage account somewhere, or even if you don't, consider just using a federal money market fund. VMFXX at Vanguard, for example, has a compounded yield of 5.27 now, and similar at Fidelity and Schwab. Some of the earnings may be tax-free in your state as well.

Federal money market funds are not FDIC insured but are invested in government instruments that are arguably just a secure if not more secure than FDIC.
Thank you.
Reply

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Joined Feb 2006
Jedi Engineer
> bubble2 4,829 Posts
765 Reputation
Azrael_the_Cat
06-10-2024 at 01:59 AM.
06-10-2024 at 01:59 AM.
Quote from One_good_fella :
High yield now but money gone when the banking system crashes. So be careful with your HARD earned $$.

What would you recommend instead? Crypto? Or stuff money in a mattress?
Reply
Joined May 2006
L3: Novice
> bubble2 126 Posts
18 Reputation
PeterD.
06-10-2024 at 06:41 AM.
06-10-2024 at 06:41 AM.
Quote from Batmansplumber :
Won't fiat currency be useless when the whole economic structure collapses? Oh wait, I'm bringing logic to the table. Silly me.

When is that oh wise reader of the tea leaves?
Reply
Joined Aug 2011
L5: Journeyman
> bubble2 748 Posts
132 Reputation
RomulusMaximus
06-10-2024 at 08:51 AM.
06-10-2024 at 08:51 AM.
Quote from meranamjoker :
Be aware that Brio has withdrawal limits too. A big deal breaker for me..

Clients are eligible for standard outbound transfers up to $25,000 that are completed within 3 business days (provided that funds are available). For standard outbound transfers, the client must wait until an outstanding transfer(s) that exceeds $25,000 has settled before another transfer can be initiated, including any scheduled transfers. The monthly limit on outbound transactions is $100,000. You may be eligible to transfer additional amounts in excess of these limits by calling our contact center at 877.369.BRIO.

You cannot add/transfer funds to or from an account that you are not a listed owner on.
Deal breaker for me too. You shouldn't have to jump through hoops to get your money, especially if you're using it to park emergency funds...
Reply
Joined Aug 2011
L5: Journeyman
> bubble2 748 Posts
132 Reputation
RomulusMaximus
06-10-2024 at 09:32 AM.
06-10-2024 at 09:32 AM.
Quote from onlycash :
My only complaint with them is how they handle beneficiaries.

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.

.
Big deal breaker for me there. Being able for your beneficiaries to have access when the worst happens is crucial.
Reply
Joined Jul 2007
L5: Journeyman
> bubble2 683 Posts
316 Reputation
onlycash
06-10-2024 at 10:59 AM.
06-10-2024 at 10:59 AM.
Quote from onlycash :
My only complaint with them is how they handle beneficiaries...

Quote from RomulusMaximus :
Big deal breaker for me there. Being able for your beneficiaries to have access when the worst happens is crucial.

Just to be clear, you can add beneficiaries, they just don't make it easy. Otherwise, I've had no issues with the bank as a whole.

I'd like to add that they have a customer service phone number which is answered by human beings who are not in a call center halfway around the world. That's always a plus in my book.


.
Reply
Joined Sep 2011
L2: Beginner
> bubble2 45 Posts
14 Reputation
geocathcart
06-10-2024 at 02:29 PM.
06-10-2024 at 02:29 PM.
I have two Chase cards and they keep badgering me to open that exact checking/savings account with the promotion.(I decline because my checking/savings are elsewhere.)
Quote from AmusedScent305 :
Yes, new customer only. Can't have had an account with them for 1-2 years or whatever they set their limit to now.
Reply
Joined Mar 2019
L2: Beginner
> bubble2 32 Posts
14 Reputation
tinhl
06-10-2024 at 02:33 PM.
06-10-2024 at 02:33 PM.
Quote from Fredrick-VonN :
5.55 at my banking direct

https://www.mybankingdirect.com/

how's your experience with my banking direct?
Reply

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Joined Dec 2008
L5: Journeyman
> bubble2 600 Posts
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MidnightX
06-10-2024 at 06:06 PM.
06-10-2024 at 06:06 PM.
There are some pretty bad reviews with some scary stories about BioDirect on DepositAccounts, a bank account comparison site which is similar to SD with reviews by individuals.

Reviews: https://www.depositaccounts.com/b...irect.html
BioDirect Ratings: 5 stars (12); 4 stars (4); 3 stars (4); 2 stars (6); 1 star (102)
About DepositAccounts: https://www.depositaccounts.com/about/

Here are just a few titles of the 1 star reviews with the most recent first. The full details of their complaint are under the titles on the site.

Not Worth It - Reviews Are Right
Posted by: WilliamLEJA | Jun 7, 2024

Good Grief!
Posted by: Tesla | Jun 3, 2024

Had To Open Consumer Finance Complaint To Get CD Funds Back
Posted by: my2407 | May 31, 2024

Don't Expect Your Matured CD Proceeds Anytime Soon!
Posted by: userpak | May 29, 2024

Terrible Experience Getting Funds Released
Posted by: Eclaire | May 9, 2024

Do Not Do Business With Brio Direct
Posted by: Ev | May 8, 2024

Avoid This Bank At All Costs - Worst Bank Ever - Run!
Posted by: LadyNancy | May 6, 2024
Reply
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