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no monthly service fee
5.30%
$5,000
- High interest rate
- No monthly service fees
- High minimum opening deposit
BrioDirect does offer a competitive savings account rate. The BrioDirect High-Yield Savings Account is great if you have at least $5,000 to open an account. It also has no monthly service fee.
BrioDirect High-Yield Savings Account- Must maintain at least $1 in account to earn interest
- Interest compounded daily and deposited monthly
- FDIC insured
The bottom line: BrioDirect offers a savings account and CDs. Its 1-year CD term is competitive, but you'll likely find higher rates for other CD terms at other banks. Our best CD rates guide highlights financial institutions with the highest CD rates for each term. BrioDirect does offer a competitive savings account rate.
BrioDirect Review: Overall Bank Rating
| Feature | Personal Finance Insider rating (out of 5) |
| Savings | 4 |
| CD | 3.75 |
| Trustworthiness | 3.5 |
| Total | 3.75 |
BrioDirect Pros and Cons
| Pros | Cons |
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About BrioDirect
BrioDirect is an online-only division of Webster Bank. Customers have access to over 32,000 free ATMs through the MoneyPass ATM network.
Customer service is available by phone from 8 a.m. to 8 p.m. ET on weekdays or 8:30 a.m. to 3 p.m. ET on Saturdays.
BrioDirect has 4.6 out of 5 stars in the Apple store and 3.8 out of 5 stars in the Google Play store.
BrioDirect accounts are FDIC-insured through Webster Bank. You may safely keep up to $250,000 in an individual bank account.
Is BrioDirect Trustworthy?
We use ratings from the Better Business Bureau so you can see how a bank addresses customer issues.
The BBB gave BrioDirect's parent company Webster Financial Corporation a B- rating because it received numerous customer complaints filed against the bank and hasn't resolved a complaint.
Webster Bank is undergoing a class-action lawsuit over a data breach. According to the lawsuit, nearly 200,000 customers were impacted, and plaintiffs claim the breach was due to Webster's lack of security. The lawsuit also states Webster didn't inform customers in a timely fashion. This case is still ongoing.
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BrioDirect High-Yield Savings Account
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BrioDirect 1 Year High-Yield CD
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BrioDirect High-Yield CD
BrioDirect FAQs
BrioDirect is a legitimate financial institution. Its bank accounts are provided by Webster Bank, which is an FDIC-insured financial institution. Up to $250,000 per depositor, per category is secure in a BrioDirect bank account.
BrioDirect is an online brand of Webster Bank. Currently, BrioDirect only offers an online savings account and CDs.
BrioDirect may be a good choice if you're comfortable with online-only banking and are specifically searching for a 1-year CD. It offers a competitive 1-year CD rate, and you only need $500 to open an account. Generally, financial institutions require at least $1,000 to open a CD.
BrioDirect Reviews
BrioDirect High-Yield Savings Account
The BrioDirect High-Yield Savings Account is great if you have at least $5,000 to open an account. It also has no monthly service fee.
no monthly service fee
5.30%
$5,000
- High interest rate
- No monthly service fees
- High minimum opening deposit
BrioDirect does offer a competitive savings account rate. The BrioDirect High-Yield Savings Account is great if you have at least $5,000 to open an account. It also has no monthly service fee.
BrioDirect High-Yield Savings Account- Must maintain at least $1 in account to earn interest
- Interest compounded daily and deposited monthly
- FDIC insured
BrioDirect High-Yield CD
You might like BrioDirect if you're searching for a 1-year CD. There's a special promotional rate of 4.50% APY for the 1-year term, which is higher than 1-year CD rates at other banks.
BrioDirect CDs also only require a $500 opening deposit. Other financial institutions may require at least $1,000 to get a CD.
0.05% to 5.00%
$500
- Competitive interest rate, especially for 12-month, 18-month, and 2-year CDs
- $500 opening deposit
- Variety of short-term CDs
- No terms over 5 years
- Standard-to-high early withdrawal penalties
The bottom line: BrioDirect currently only offers CDs. Its 1-year CD term is competitive, but you'll likely find higher rates for other CD terms at other banks. Our best CD rates guide highlights financial institutions with the highest CD rates for each term.
BrioDirect High-Yield CD- Term lengths ranging from 30 days to 5 years
- Early withdrawal penalty of 30 days interest for 30-day terms; 90 days interest for terms of 12 months or less; 9 months interest for terms of 18 to 59 months; 12 months interest for terms of 60 months or more
- Interest is compounded daily, and deposited quarterly or at maturity
- FDIC insured
How BrioDirect Compares
BrioDirect vs. CFG Bank
Both BrioDirect and CFG Bank pay high CD rates on 1-year terms. However, CFG Bank pays higher interest rates on 18-month, 3-year, and 5-year terms. Keep in mind rates can fluctuate, so this may change in the future.
BrioDirect may be worthwhile if you're looking for an online bank that has CD variety. BrioDirect has more CD terms available than CFG Bank, including terms as short as 30 days.
Also, consider which types of bank accounts you'd like to open. CFG Bank money market accounts, checking accounts, and CDs can be opened online from anywhere in the US, but you'll need to go to a branch in Baltimore, Maryland, to open one of the bank's standard savings accounts.
BrioDirect vs. Ally
Ally Bank has a variety of online bank accounts with zero monthly service fees. You can open a high-yield savings account, checking account, CD, or money market account at Ally. Meanwhile, BrioDirect has more limited options right now, since you can only get a savings account and CDs.
If you want to open a CD, it'll be a toss-up based on which term length you want. BrioDirect has an appealing 1-year term, while Ally has strong 18-month and 9-month terms.
You'll probably prefer Ally over BrioDirect if traditional banking hours don't work for you. Ally offers 24/7 customer support by phone and online chat.
BrioDirect vs. Jenius Bank
Jenius Bank is an online-only division of SMBC MANUBANK. BrioDirect's savings account offers a slightly higher interest rate, but you'll need $5,000 to open an account. If you don't have that much money to deposit upfront, you may prefer Jenius Bank's high-yield savings account. The Jenius Savings Account offers 5.25% APY and has a $0 minimum opening deposit.
BrioDirect also offers a couple of CDs options, so it's more well-rounded than Jenius Bank in terms of bank account options. Jenius Bank only offers a savings account.
Why You Should Trust Us: How We Reviewed BrioDirect
In our BrioDirect review, we rate checking accounts, savings accounts, CDs, and money market accounts by looking at features like minimum opening requirements, monthly service fees, and customer support available.
We'll also consider specific features for different types of bank accounts. For example, we look at early withdrawal penalties for CDs. Each account receives a rating between 0 and 5. Learn more about our banking methodology and CD methodology.
