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Note: BrioDirect currently isn’t offering savings, checking, or money market accounts. Only CDs are available right now.
The bottom line: BrioDirect has one of the best 1-year CD rates available right now. However, you might prefer another financial institution if you also want to open a high-yield savings account or checking account because BrioDirect currently only offers CDs.
BrioDirect: Overall Bank Rating
FeatureInsider rating (out of 5)Savings4Checking3.75CD3.75Money market account3.75Trustworthiness4Total4
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. Learn more about our methodology for rating bank accounts.
BrioDirect: Pros and Cons
ProsCons
No monthly services fees on accounts
High interest rate on a 1-year CD
Low minimum opening deposits on CDs
If you’re looking for savings, checking, or money market accounts, you’ll have to look else elsewhere (these accounts aren’t being offered right now)Other CD terms aren’t as competitive as the 1-year option
BrioDirect High-Yield Savings Account
The BrioDirect High-Yield Savings Account is great if you have at least $500 to open an account. It also has BrioDirect High-Yield Savings Account – Fees Display.
BrioDirect Checking Account
The BrioDirect Checking Account might be worth considering if you don’t want to deal with monthly service fees or ATM fees. BrioDirect has a decent-sized ATM network, and you get up to $20 in out-of-network ATM fee reimbursements each month.
The BrioDirect Checking Account isn’t the best option if you overdraw from your account, though. BrioDirect charges a $35 overdraft fee if you have a negative balance that exceeds $5, and it doesn’t have any overdraft protection.
BrioDirect High-Yield Certificate of Deposit
You might like BrioDirect if you’re searching for a 1-year CD. There’s a special promotional rate of BrioDirect 12 Month High-Yield CD – APY APY for the 1-year term, which is higher than 1-year CD rates at other banks.
BrioDirect CDs also only require a BrioDirect High-Yield Certificate of Deposit opening deposit. Other financial institutions may require at least $1,000 to get a CD.
BrioDirect High-Yield Money Market Account
You’ll need a minimum of BrioDirect High-Yield Money Market Account – Minimum Deposit to open the BrioDirect High-Yield Money Market Account. If you’re strictly searching for a competitive interest rate, the BrioDirect High-Yield Savings Account will likely be more appealing.
How BrioDirect Works
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 4.7 out of 5 stars in the Apple store and 4.0 out of 5 stars in the Apple store.
BrioDirect accounts are FDIC insured through Webster Bank. You may safely keep up to $250,000 in an individual bank account.
BrioDirect Trustworthiness and BBB Score
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 Bank a B- rating because it received numerous customer complaints filed against the bank and hasn’t resolved a complaint.
BBB ratings aren’t the be-all and end-all, though. To see if BrioDirect is a solid choice for you, talk to current customers or read online customer reviews.
The bank hasn’t been involved in any recent public controversies.
BrioDirect vs. CFG Bank
CFG Bank also has a competitive CD rate for a 1-year term. CFG Bank money market 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 savings or checking accounts.
BrioDirect has more CD terms available than CFG Bank. 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 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 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 20-month terms.
You’ll probably prefer Ally to BrioDirect if traditional banking hours don’t work for you. Ally offers 24/7 customer support by phone and online chat.
BrioDirect: Frequently Asked Questions
How do you open a BrioDirect account?
BrioDirect accounts may be opened online from anywhere in the US. You’ll need a US ID and a social security number to fill out the online application.
How do you deposit money into a BrioDirect CD?
To deposit money to your CD, you’ll need to initiate a transfer from an external bank account.