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BrioDirect High-Yield Savings Account: Earn

5.30% APY
+41 Deal Score
66,053 Views
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 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

Original Post

Written by
Edited June 4, 2024 at 09:21 AM 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
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Deal
Score
+41
66,053 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.

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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 2020
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AmusedScent305
05-16-2024 at 06:08 PM.

Our community has rated this post as helpful. If you agree, why not thank AmusedScent305

05-16-2024 at 06:08 PM.
Quote from ShrewdShoe9304 :
I have parked some money over at American Express and I've been thinking about this. Do you have any insight as to when???

Accounts at institutions that are FDIC insured or credit unions insured by NCUA are covered up to $250,000 per depositor. If you have more than $250,000 to park, use multiple banks.
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Batmansplumber
05-17-2024 at 07:57 AM.
05-17-2024 at 07:57 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.

.

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Batmansplumber
05-17-2024 at 08:00 AM.
05-17-2024 at 08:00 AM.
Quote from One_good_fella :
High yield now but money gone when the banking system crashes. So be careful with your HARD earned $$.

Won't fiat currency be useless when the whole economic structure collapses? Oh wait, I'm bringing logic to the table. Silly me.
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hbasavar
05-17-2024 at 09:47 AM.

Our community has rated this post as helpful. If you agree, why not thank hbasavar

05-17-2024 at 09:47 AM.
MyBankingDirect.com [mybankingdirect.com] at 5.55% APY
and
poppybank.com [poppy.bank] at 5.5% APY

Both are FDIC insured and don't have to jump through hoops to get that rate.
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FabulousMoney141
05-17-2024 at 10:45 AM.
05-17-2024 at 10:45 AM.
Quote from JohanM1228 :
No bonus to open an account, but 5.35% is the highest APY I've seen recently.

Just opened one with BMO ALTO which is 5% no minimum
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hou1960
05-17-2024 at 10:55 AM.
05-17-2024 at 10:55 AM.
Quote from patgwashere :
be aware that they have a weekly withdrawal limit.
If you need to withdraw all your money at once you can not
its because they use your $ to put in the casino.
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hou1960
05-17-2024 at 10:56 AM.
05-17-2024 at 10:56 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.
buy GOLD!
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AmusedScent305
05-17-2024 at 01:22 PM.
05-17-2024 at 01:22 PM.
Quote from hbasavar :
MyBankingDirect.com [mybankingdirect.com] at 5.55% APY
and
poppybank.com [poppy.bank] at 5.5% APY

Both are FDIC insured and don't have to jump through hoops to get that rate.

The only "hoops" on these two that I see it that MBD requires $500 to open, but after that is 5.55% for any balance over $1, and the Poppy requires $1000 to open but you must also maintain $1000 ADB plus enroll in e-statements to avoid a $5/month fee for paper statements. Both are pretty low threshold, but MBD offers a checking account that gives ATM access outside of California, too.

Poppy does guarantee the rate for 90 days after opening, but can/will change without notice after that. MBD doesn't guarantee the rate for any specific length of time, but per the other thread on them they've offered the highest rates for a while to entice customers because they've had some liquidity issues.
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sarcasmogratis
05-17-2024 at 04:19 PM.
05-17-2024 at 04:19 PM.
Quote from JohanM1228 :
No bonus to open an account, but 5.35% is the highest APY I've seen recently.

Slickdeals isn't getting a kickback they want to share?
What happened to Slickdeals Rewards/cashback offers? It's exactly these type of offers that usually are high returns on CashBack/point sites.
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JohanM1228 | Staff
05-17-2024 at 04:27 PM.
05-17-2024 at 04:27 PM.
Quote from sarcasmogratis :
Slickdeals isn't getting a kickback they want to share?
What happened to Slickdeals Rewards/cashback offers? It's exactly these type of offers that usually are high returns on CashBack/point sites.
Most financial institutions have strict rules around that now and don't allow their partners to incentivize people to sign up for their products.
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sarcasmogratis
05-17-2024 at 04:36 PM.
05-17-2024 at 04:36 PM.
Quote from JohanM1228 :
Most financial institutions have strict rules around that now and don't allow their partners to incentivize people to sign up for their products.

Quick skim of Swag has
SoFi, Acorn, Chime, Ily, Axos, stash, One, Discover, etc ...
I didn't see Brio (yet?)

Are you saying Brio prohibits SD from rewarding SD members for signups? Or is this a general explanation for SD not sharing any kickbacks?
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JohanM1228 | Staff
05-17-2024 at 04:54 PM.
05-17-2024 at 04:54 PM.
Quote from sarcasmogratis :
Quick skim of Swag has
SoFi, Acorn, Chime, Ily, Axos, stash, One, Discover, etc ...
I didn't see Brio (yet?)

Are you saying Brio prohibits SD from rewarding SD members for signups? Or is this a general explanation for SD not sharing any kickbacks?
Interesting. The feedback is general and not specific to Brio. I'm going to check on a couple of the ones you mentioned again. We are definitely open to giving our users a bonus but have been told we can't by most partners.
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Clinteaston
05-17-2024 at 05:54 PM.
05-17-2024 at 05:54 PM.
Quote from JohanM1228 :
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/

American Express has dropped their rates twice in the past few months. BrioDirect appears on par with TBills, but if compounded daily, is a better bet.
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Last edited by Clinteaston May 17, 2024 at 05:57 PM.
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rahul1483
05-17-2024 at 06:21 PM.
05-17-2024 at 06:21 PM.
This vs T-Bill?
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Gb1908
05-17-2024 at 06:57 PM.
05-17-2024 at 06:57 PM.
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.

.

Synchrony bank does it online... albeit they have MUCH LOWER HIGH YIELD SAVINGS INTREST RATES...
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