At a glance

4.1

Bankrate Score

CDs

Savings

MMA

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Overview

BrioDirect is best for consumers looking for an online bank with a competitive yield on a savings account without monthly fees. The bank doesn’t offer checking or money market accounts, though, so those looking to consolidate their finances under one roof should look elsewhere.

Highlights

High APY
Highly Rated App
No Monthly Fees

Overall

BrioDirect is an online bank that offers CDs and a savings account. While the savings account earns a high yield, most of the bank’s CDs generally leave a lot to be desired. As such, those looking for a wide range of CDs offering high yields should look elsewhere. Moreover, BrioDirect recently discontinued its money market account.

Pros

BrioDirect offers competitive yields on its savings account.
Some of the bank’s CDs offer solid APYs for a reasonable minimum deposit amount.

Cons

BrioDirect doesn’t offer a money market or checking account.
Other banks require lower minimum deposits on savings accounts.

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BrioDirect banking products

4.6

/5

See methodology Compare savings rates

SCORE BREAKDOWN

APY offering:

5.30%

5/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.

Minimum balance to earn interest:

$5,000.00

2/5

The lowest deposit amount an account must have before it can earn interest.

Monthly service fee:

$0.00

5/5

A monthly charge a financial institution deducts from an account if certain requirements are not met.

Minimum balance to avoid fee:

$0.00

5/5

The lowest balance an account must maintain in order to avoid a fee.

Access to funds:

Good

4/5

A procedure that allows an individual or organization to access and manage the funds of another account holder.

BrioDirect savings overview

BrioDirect’s high-yield savings account pays a competitive yield compared to what’s available at other institutions. You’ll need to deposit $5,000 to open the account, which earns interest on all balances and doesn’t charge a monthly service fee. You’ll need to maintain $25 to earn the disclosed APY.

Pros

The account pays a competitive yield.
There’s no monthly service fee.

Cons

The $5,000 opening deposit requirement is high compared to some banks.
Higher-yielding options are available at some other banks.

Rate history for BrioDirect's Savings account

BrioDirect provides a savings account yield of 5.3% APY, which has decreased by 5 basis points compared to the previous year. This rate is significantly higher than the national average yield of 0.56% APY, according to Bankrate's latest survey.

BrioDirect

APY

APY last updated between 7/3 and 7/9.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

BrioDirect provides a savings account yield of 5.3% APY, which has decreased by 5 basis points compared to the previous year. This rate is significantly higher than the national average yield of 0.56% APY, according to Bankrate's latest survey.

BrioDirect

APY

APY last updated between 7/3 and 7/9.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

Compare Offer

BrioDirect CD overview

BrioDirect offers a wide range of CDs with terms from 30 days to five years. All BrioDirect CDs require just $500 to open. The majority of the CDs earn APYs that are below national averages.

BrioDirect makes it easy to find the bank’s early withdrawal penalties, which range from 30 days to one year of interest, depending on the CD term length.

Pros

All CDs require only $500 to open.
Consumers don’t have to hunt to find early withdrawal penalty information.

Cons

Overall, yields on the CDs are below national averages.

Rate history for BrioDirect's CD accounts

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

BrioDirect

APY

APY last updated between 7/3 and 7/9.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

BrioDirect

APY

APY last updated between 7/3 and 7/9.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

3.8

Bankrate Score

Compare top money market rates

BrioDirect money market overview

BrioDirect’s money market account pays an APY that’s above the national average, yet significantly higher rates can be found at other banks. The minimum opening balance is only $100, and there are no monthly maintenance fees.

The account doesn’t offer check writing or an ATM card, so anyone looking for these features in a money market account will want to shop around.

Note: New applications for the money market and savings accounts are not being accepted at this time. While the accounts may be available again soon, the bank doesn’t have a firm date yet, according to a BrioDirect spokesperson.

Pros

The minimum deposit to open the account is only $100.
There’s no monthly service fee.

Cons

Applications for the money market account are not being taken at this time.
Better money market APYs can be found elsewhere.
This account doesn’t offer check writing or an ATM card.

Compare more: Bankrate's best savings account offers

Bank fees

Fee		Charged?
Overdraft fee		$35
Non-sufficient funds fee		$35
Monthly maintenance fees		None
Out-of-network ATM fee		$3
Excessive transaction fee		None

Find out: Tips to avoid common bank fees

Customer experience

Customer support. BrioDirect customer service is available on weekdays from 8 a.m. to 8 p.m. Eastern and on Saturdays from 8:30 a.m. to 3 p.m.

Mobile banking. With the BrioDirect app, customers can access their accounts and send and receive money with Zelle. The iOS version of the app receives higher marks than the Android version, but both score well. The app can be used to pay bills, deposit checks, transfer money and view transactions.

About BrioDirect

BrioDirect is a no-frills online subsidiary of FDIC-insured Webster Bank that offers just two types of deposit products: a savings account and a range of CDs. The straightforward account application process takes just a few minutes, and you can fund your account by transferring money from another bank, mailing a check or wiring money.

How BrioDirect compares to other banks

Compare different account types offered by BrioDirect. Annual percentage yields (APYs) shown were updated between July 3, 2024 and July 9, 2024.

Selected bank BrioDirect savings account Member FDIC Bankrate score Rating: 4.6 stars out of 5 4.6 Bankrate Savings rating = 4.6/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score.	Most comparable CIBC Bank USA savings account Member FDIC Bankrate score Rating: 4.7 stars out of 5 4.7 Bankrate Savings rating = 4.7/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between July 3, 2024 and July 9, 2024.
5.30%	5.01%
Minimum balance for APY
$5,000.00	$1,000.00
Estimated earnings Interest earned calculation based on a $25,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
$1,325	$1,253

The BrioDirect High-Yield Savings Account offers a competitive yield and it doesn’t have a monthly service fee. There's a required minimum opening deposit of $25 for this account.	The CIBC Bank USA Agility Savings Account offers a very competitive yield. There’s no monthly fees, although you’ll need to have at least $1,000 to open an account.

BrioDirect offers a competitive yield on its High-Yield Savings Account. You can open this account with only $25. This account doesn’t have a monthly service fee.	You won’t pay a monthly service fee with CIBC’s Agility savings account. You’ll earn a very competitive yield with this account.	N/A
Some banks offer even higher savings yields. Some banks don’t have a minimum opening deposit requirement	A $1,000 minimum opening deposit is required to open the CIBC Agility Savings account.	N/A

APY offering: 5.30% 5/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. Minimum balance to earn interest: $5,000.00 2/5 The lowest deposit amount an account must have before it can earn interest. Monthly service fee: $0.00 5/5 A monthly charge a financial institution deducts from an account if certain requirements are not met. Minimum balance to avoid fee: $0.00 5/5 The lowest balance an account must maintain in order to avoid a fee. Access to funds: Good 4/5 A procedure that allows an individual or organization to access and manage the funds of another account holder.	APY offering: 5.01% 5/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. Minimum balance to earn interest: $1,000.00 3/5 The lowest deposit amount an account must have before it can earn interest. Monthly service fee: $0.00 5/5 A monthly charge a financial institution deducts from an account if certain requirements are not met. Minimum balance to avoid fee: $0.00 5/5 The lowest balance an account must maintain in order to avoid a fee. Access to funds: Good 4/5 A procedure that allows an individual or organization to access and manage the funds of another account holder.	APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. The lowest deposit amount an account must have before it can earn interest. A monthly charge a financial institution deducts from an account if certain requirements are not met. The lowest balance an account must maintain in order to avoid a fee. A procedure that allows an individual or organization to access and manage the funds of another account holder. Bankrate does not currently track additional product details for this bank.

Selected bank BrioDirect CD Member FDIC Bankrate score Rating: 4.9 stars out of 5 4.9 Bankrate CD rating = 4.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score.	Most comparable Marcus by Goldman Sachs CD Member FDIC Bankrate score Rating: 4.9 stars out of 5 4.9 Bankrate CD rating = 4.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review	Search for or select a bank: Bankrate score Bankrate CD rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between July 3, 2024 and July 9, 2024.
5.00%	5.15%
Minimum deposit
$500.00	$500.00
Term
1 yr	1 yr

BrioDirect offers a wide host of CDs, ranging from 30 days to five years, but most terms come with lackluster yields. Customers can open a CD with just $500.	Marcus by Goldman Sachs offers nearly every term and type of CD that most savers would want along with competitive rates. Marcus also offers a 10-day rate guarantee if the rate changes after opening the CD.

BrioDirect CDs can be opened with just $500. BrioDirect’s one-year CD offers a competitive yield. The early withdrawal penalties are reasonable.	Marcus by Goldman Sachs consistently offers competitive yields. Marcus offers a variety of CD terms, so you can easily build a CD ladder at this bank. An account can be opened with as little as $500. Offers three terms of no-penalty CDs.	N/A
Most BrioDirect CDs come with very low yields.	Some banks have lower minimum deposit requirements. Partial withdrawals are not allowed from the no-penalty CDs	N/A

APY offering: 5.00% - 1 yr 5/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. Minimum deposit: $500.00 5/5 The minimum deposit amount a financial institution requires in order to open a CD. Range of term lengths: 1 mo - 5 yrs 5/5 A designated amount of time that funds must be held within a CD. Early withdrawal penalty: Good 4/5 A penalty incurred when funds have been withdrawn from a CD before its maturity date. Offer no-penalty or bump-up CDs: No 0/5 A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. Offer IRA CDs: No 0/5 An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.	APY offering: 5.15% - 1 yr 5/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. Minimum deposit: $500.00 5/5 The minimum deposit amount a financial institution requires in order to open a CD. Range of term lengths: 6 mos - 5 yrs 5/5 A designated amount of time that funds must be held within a CD. Early withdrawal penalty: Good 4/5 A penalty incurred when funds have been withdrawn from a CD before its maturity date. Offer no-penalty or bump-up CDs: Yes 5/5 A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. Offer IRA CDs: Yes 5/5 An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.	APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. The minimum deposit amount a financial institution requires in order to open a CD. A designated amount of time that funds must be held within a CD. A penalty incurred when funds have been withdrawn from a CD before its maturity date. A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. An IRA account which consists of CDs that typically earns fixed interest over a specified period of time. Bankrate does not currently track additional product details for this bank.

BrioDirect vs. Vio Bank

BrioDirect and Vio Bank are both digital banks that don’t operate branches, so both could be a good choice for anyone who’s comfortable with banking entirely online.

Both banks pay above average yields on their savings accounts, although BrioDirect’s account earns a significantly higher rate. However, note that BrioDirect isn’t offering a money market account anymore, but Vio Bank still is, and it offers a very high rate.

When it comes to CDs, BrioDirect offers a wider range of terms, but Vio Bank’s CDs generally pay much higher rates.

Learn more: The best banks of 2024

BrioDirect FAQs

BrioDirect is a digital bank that can meet the needs of consumers who prefer doing all their banking online. It’s also a good choice for anyone seeking a savings account that pays a highly competitive rate.
Accounts with BrioDirect are insured through the Federal Deposit Insurance Corp. (FDIC) up to $250,000 per account type, per depositor.
BrioDirect is an online bank that is a sub-brand of Webster Bank, a regional bank that was founded in 1935 and maintains branches primarily from Massachusetts to New York.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	BrioDirect APY APY last updated between 7/3 and 7/9. APY last updated between 7/3 and 7/9	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
07/02/2024	5.30%	0.57%
06/04/2024	5.30%	0.59%
05/07/2024	5.35%	0.59%
04/02/2024	5.35%	0.58%
03/05/2024	5.35%	0.57%
01/02/2024	5.35%	0.58%
12/05/2023	5.35%	0.57%
11/07/2023	5.35%	0.60%
10/03/2023	5.35%	0.58%

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	BrioDirect APY APY last updated between 7/3 and 7/9. APY last updated between 7/3 and 7/9	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
07/02/2024	0.45%	1.41%
06/04/2024	0.45%	1.43%
04/02/2024	0.45%	1.42%
03/12/2024	0.45%	1.43%
02/06/2024	0.45%	1.42%
12/05/2023	0.45%	1.43%
11/07/2023	0.45%	1.45%
10/03/2023	0.45%	1.46%
09/05/2023	0.45%	1.43%
08/01/2023	0.45%	1.38%
07/11/2023	0.45%	1.35%

BrioDirect Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

We want to know what you think about BrioDirect

BrioDirect banking products

BrioDirect savings overview

Pros

Cons

Rate history for BrioDirect's Savings account

BrioDirect CD overview

Pros

Cons

Rate history for BrioDirect's CD accounts

BrioDirect money market overview

Pros

Cons

Bank fees

Customer experience

About BrioDirect

How BrioDirect compares to other banks

BrioDirect vs. Vio Bank

BrioDirect FAQs

Who is BrioDirect best for?

Is BrioDirect safe?

Is BrioDirect a legitimate bank?

Review methodology

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