BrioDirect Review: Savings and CDs
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- Savings
- Certificates of deposit
- Customer experience
Overall institution rating
3.5
BrioDirect is an online brand of Webster Bank, an FDIC-insured bank based in Stamford, Conn. It offers competitive rates on its savings account and some CDs. However, its savings account has a steep minimum opening deposit requirement.
Best for: Those who want a strong savings rate, are willing to deposit large opening balances and who aren’t likely to need in-person services.
Pros
- No monthly fees.
- Competitive rates on savings and some CDs.
- Extended phone customer service hours.
Cons
- Low rates on some CDs.
- High minimum opening deposits for savings.
- No branch access.
Full review
BrioDirect
Savings
Savings
Deposits are FDIC Insured
4.0
/5 NerdWallet ratingBrioDirect offers a high-yield savings account that earns a stellar annual percentage yield, or APY, and has no monthly fees. But you’ll need a minimum of $5,000 to open an account, and you’ll need to keep at least $25 in the account to earn the APY.
» Want to see more options? Check out NerdWallet’s best savings accounts
Certificates of deposit
CD
Deposits are FDIC Insured
3.0
/5 NerdWallet ratingBrioDirect has online CDs with a couple standard term lengths, plus a 12-month CD with a promotional rate. The bank previously offered a more extensive range of terms but recently cut back on its offerings. You can use NerdWallet's current CD rates page to compare rates at other institutions.
The minimum amount to open a CD is $500; that’s similar to what some online banks require, though others don’t require any minimum deposit.
» Interested in the top options? Check out NerdWallet's list of the highest CD rates.
Customer experience
4.0
NerdWallet ratingBrioDirect customer service is available by phone on weekdays from 8 a.m. to 8 p.m. Eastern time, and on Saturdays from 8:30 a.m. to 3 p.m. Eastern time. The online institution’s website design is straightforward, and information about fees and rates is relatively easy to find. You can use BrioDirect’s website or mobile apps to access your account and conduct banking tasks such as viewing account balances, transferring money and monitoring account activity.
Methodology
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.
