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BrioDirect High-Yield Savings Account: Earn
5.30% APY
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
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 June 4, 2024
at 09:21 AM
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 | Staff
in
Finance
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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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That said, even with the changes Vanguard is making, I think if you're happy with them, the biggest reason to jump ship would be to secure a bonus like the one RobinHood offers (3%) or to try to "send a message" (which, good luck with that as a single investor with less than $100 million invested). Most, if not all of the new fees they're introducing are avoidable or wouldn't apply to your average person:
https://youtu.be/QLBZoqTtQZ4?si=
For people who open accounts like this Brio one to follow higher interest rates, what is the threshold where it is "worth" the hassle of switching to you? Assuming, of course, that you're moving far less than the FDIC limit of $250k.
Edited to add, and then I just watched this one by the same person - https://www.youtube.com/watch?v=eCWDPR8
I'd be really curious to know how many people are exiting out of Vanguard entirely.
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.
Anything similar for webull by chance?
Why isn't Raisin the way to go? I've been using it for a few months and it seems solid. Are there better places? What makes them better?
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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.
What is the fidelity equivalent?
https://www.fidelity.co
https://www.fidelity.co
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.
Also, Because Raisin is not a bank and your money is always handled by a federally insured financial institution, in the unlikely event that Raisin goes out of business, our FDIC-insured custodian bank would simply return any funds you have in our platform to your external linked bank account. Our custodian banks keep records of all funds held in our platform for added security.
Im genuinely curious though if there are risks Im not aware of per above?
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Also, Because Raisin is not a bank and your money is always handled by a federally insured financial institution, in the unlikely event that Raisin goes out of business, our FDIC-insured custodian bank would simply return any funds you have in our platform to your external linked bank account. Our custodian banks keep records of all funds held in our platform for added security.
Im genuinely curious though if there are risks Im not aware of per above?
Why put yourself through the stress and hassle? Some people literally can't even pay their bills because they thought their funds in these "FDIC insured" fintechs were safe. There are better options.