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BrioDirect High-Yield Savings Account: Earn Expired

5.30% APY
+70 Deal Score
132,189 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
+70
132,189 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 Jan 2008
L5: Journeyman
> bubble2 786 Posts
119 Reputation
Diz
06-11-2024 at 08:54 AM.
06-11-2024 at 08:54 AM.
Quote from gamingdroid View quoted comment :
That's because neither Yotta or Juno is a bank. They hold the funds at a bank, and it sounds like there's some issues with paper trails between entities. They're literally the middle man only.

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.
Great place to invest your money.

https://www.wilx.com/2024/03/07/o...pany-nycb/
Reply
Joined Aug 2010
L10: Grand Master
> bubble2 6,613 Posts
gamingdroid
06-11-2024 at 02:01 PM.
06-11-2024 at 02:01 PM.
Quote from Diz View quoted comment :
Great place to invest your money.

https://www.wilx.com/2024/03/07/o...pany-nycb/ [wilx.com]
So basically no worries. It was handled, and you didn't need to even get your money back from the FDIC. Still earning the highest APY from a bank, but you can always put your money at a different place.
Reply
Joined Jun 2013
L3: Novice
> bubble2 157 Posts
196 Reputation
jdangles1
06-11-2024 at 05:32 PM.
06-11-2024 at 05:32 PM.
After doing some reading/research, it seems like Ivy Bank is a better option (for my situation). 5.3% through 9/30/24 on $2500 or more.
Reply
Joined Jan 2008
L5: Journeyman
> bubble2 786 Posts
119 Reputation
Diz
06-12-2024 at 06:19 AM.
06-12-2024 at 06:19 AM.
Quote from gamingdroid View quoted comment :
So basically no worries. It was handled, and you didn't need to even get your money back from the FDIC. Still earning the highest APY from a bank, but you can always put your money at a different place.
Right. Absolutely no worries. LOL. Let's continue the interwebs war.
Reply
Joined Aug 2010
L10: Grand Master
> bubble2 6,613 Posts
gamingdroid
06-12-2024 at 02:22 PM.
06-12-2024 at 02:22 PM.
Quote from Diz View quoted comment :
Right. Absolutely no worries. LOL. Let's continue the interwebs war.
You do you! 👍🏽
Reply
Joined Feb 2009
L5: Journeyman
> bubble2 512 Posts
72 Reputation
rphmann
06-12-2024 at 04:01 PM.
06-12-2024 at 04:01 PM.
Quote from tinhl View quoted comment :
how's your experience with my banking direct?
So far so good. Originally with opening I had holds of 9 business days on deposits in the first 30 days. Now $ go in and out compared to the rest. Great rate, but I stay under the FDIC insured amount.
Reply
Joined Oct 2015
L9: Master
> bubble2 4,036 Posts
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goodness97
06-13-2024 at 04:58 AM.
06-13-2024 at 04:58 AM.
Consider CIBC as a better and more reliable bank.
Reply

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Joined May 2017
L1: Learner
> bubble2 23 Posts
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RaviK2418
06-15-2024 at 03:35 PM.
06-15-2024 at 03:35 PM.
Quote from patgwashere View quoted comment :
be aware that they have a weekly withdrawal limit.
If you need to withdraw all your money at once you can not

High rated review. You cannot withdraw all money whenever you want. I guess weekly limit is 5k only
Reply
Joined Mar 2009
L3: Novice
> bubble2 196 Posts
38 Reputation
jojan1
06-17-2024 at 10:50 AM.
06-17-2024 at 10:50 AM.
Quote from RaviK2418 View quoted comment :
High rated review. You cannot withdraw all money whenever you want. I guess weekly limit is 5k only
If you need all your money at once (say to put in the downpayment on a home) then I would think you then just close your account and get all your money at once?
Reply
Joined Jun 2007
L6: Expert
> bubble2 1,016 Posts
104 Reputation
Drummer_Dude
06-18-2024 at 08:46 AM.
06-18-2024 at 08:46 AM.
Quote from patgwashere View quoted comment :
be aware that they have a weekly withdrawal limit.
If you need to withdraw all your money at once you can not
I don't believe this is the case if you initiate the transfer from a different bank. Say you have an account at one of the big banks and then open and fund an account with Brio. If you try to initiate a transfer from Brio back to the main bank, you will face the limit, but if you initiate the transfer from main bank, there should not be a limit. So if you had $250K in Brio and for some reason wanted it all back in main bank, you would initiate the transfer from the main bank and within a couple of days you should see the $250K back in main bank account.
Reply
Last edited by Drummer_Dude June 18, 2024 at 08:48 AM.
Joined Aug 2005
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> bubble2 138 Posts
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jryan1776
06-18-2024 at 12:07 PM.
06-18-2024 at 12:07 PM.
Hi all. I'm hoping someone can offer some advice. My parents are retired and are allocating cash to build a house. Currently have 150k that we'd like to get into a high yield savings account. I have applied for my dad at BMO Alto and Brio and both are declining his application. The email reject letter does not have any details. His credit score is >730 so I'm not sure why. Do these places not wish to hold money for retired people? Any other recommendations? Thanks!
Reply
Joined Dec 2011
Love deals!!
> bubble2 516 Posts
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keep-them-coming
06-18-2024 at 12:41 PM.
06-18-2024 at 12:41 PM.
How does this compare to UFB savings?
Reply
Joined May 2008
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pur | Staff
06-18-2024 at 12:50 PM.
06-18-2024 at 12:50 PM.
Quote from jryan1776 View quoted comment :
Hi all. I'm hoping someone can offer some advice. My parents are retired and are allocating cash to build a house. Currently have 150k that we'd like to get into a high yield savings account. I have applied for my dad at BMO Alto and Brio and both are declining his application. The email reject letter does not have any details. His credit score is >730 so I'm not sure why. Do these places not wish to hold money for retired people? Any other recommendations? Thanks!
They will usually send a letter with more info, might just need to verify his address. If there is something coming up on ChexSystems he should request his report. Brokerages are an alternative to banks, if the money won't be withdrawn for a year he could probably also get a nice opening bonus.
Reply
Joined Aug 2005
L3: Novice
> bubble2 138 Posts
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jryan1776
06-18-2024 at 12:56 PM.
06-18-2024 at 12:56 PM.
Quote from pur View quoted comment :
They will usually send a letter with more info, might just need to verify his address. If there is something coming up on ChexSystems he should request his report. Brokerages are an alternative to banks, if the money won't be withdrawn for a year he could probably also get a nice opening bonus.
Thanks for the tip. I was digging around and sounds like it might be an issue with the application being behind a vpn. Going to try again later. Thanks
Reply

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Joined Jun 2007
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> bubble2 1,016 Posts
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Drummer_Dude
06-18-2024 at 01:05 PM.
06-18-2024 at 01:05 PM.
Quote from jryan1776 View quoted comment :
Thanks for the tip. I was digging around and sounds like it might be an issue with the application being behind a vpn. Going to try again later. Thanks
yeah, I wouldn't recommend a vpn for applying for a bank account. They can tell when you're coming over a VPN based on your source IP address and that may raise a red flag.

$150K in this account would generate ~$662 per month, but keep in mind the IRS sees it as income so at the end of the year, he will owe taxes on that money. Good Luck with the home!
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