BrioDirect Review: Tempting Rates, but a Questionable Service Record
Review
Updated
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The interest rates for savings and promotional CDs at BrioDirect are highly competitive, and there are no monthly fees. However, feedback on BrioDirect's service and customer experience are questionable at best, with many reviewers reporting issues with transfers that leave their money in limbo.
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The BrioDirect High-Yield Savings has a very flashy, very competitive APY (annual percentage yield) of 4.50%. Plus, there are no monthly maintenance fees to eat into your earnings. Unlike some other accounts, however, there is no new account bonus. You're also dealing with an online-only account, so there are limited deposit, withdrawal, and customer service options.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 3.80%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for CIT Platinum Savings
On CIT's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.10% APY for balances of $5,000 or more
Rate info
4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000+ for max APY
|
Earn a bonus of at least $225 after a one-time deposit of $25,000+.
Transfer a one-time deposit of $25,000-$49,999.99 for a bonus of $225. Transfer a one-time deposit of $50,000+ for a bonus of $300. Account must be opened with code PS2025 while this promotion lasts, and funded within 30 days. Bonus will be fulfilled within 60 days from the funding date. There is no period of time where the customer will be required to maintain the funds. Account must be open when bonus is credited. One bonus per account and primary customer. Bonus will be credited into the Platinum Savings Account that fulfills the funding requirement. Funding can be deposited all at once or incrementally.
|
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
Open Account for American Express® High Yield Savings
On American Express's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
3.70%
Rate info
3.70% annual percentage yield as of April 11, 2025. Terms apply.
Min. to earn: $0
|
N/A
|
Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
SoFi disclosure:
¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.
² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.
Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
You have three different CD terms to choose from, but you'll need to opt for the shortest term if you want the best rate.
By far the best CD rate from BrioDirect, the Promo 12-Month CD also has a pretty good rate compared to many of its 12-month CD competitors, too. Be absolutely certain you don't need your money during that 12 months, though: BrioDirect has a very harsh early withdrawal penalty that can eat into your principal if you haven't earned enough interest yet.
Another point to note is that this is a promo rate. Once the initial 12-month CD matures, you will be unlikely to receive the same promotional rate.
This account has a so-so rate compared both to BrioDirect's other accounts and to its competitors. You can likely find higher rates from other banks offering 2-year CDs. Also keep in mind that this account is also subject to BrioDirect's aggressive early withdrawal penalty rules.
This longer-term option features another lackluster rate compared to BrioDirect's savings and short-term CD rates. You can find better rates on 3-year CDs from many competitors. You'll also likely find more favorable early withdrawal penalties, should you need your money before the CD matures.
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Discover® Bank CD
Member FDIC.
Open Account for Discover® Bank CD
On Discover Bank's Secure Website. |
APY:
4.00%
|
Term:
1 Year
|
Min. Deposit:
$0
|
Open Account for Discover® Bank CD
On Discover Bank's Secure Website. |
|
APY:
4.00%
|
Term:
10 Months
|
Min. Deposit:
$500
|
Open Account for
On Secure Website. |
|
|
APY:
3.75%
|
Term:
6 Months
|
Min. Deposit:
$1
|
Open Account for
On Secure Website. |
Yes, albeit indirectly. BrioDirect accounts are actually accounts with Webster Bank, N.A., which is FDIC insured. If you have accounts at Webster Bank directly, these accounts will all count toward your FDIC coverage limits.
Though the interest rates are great, the scores for customer experience aren't as good.
There isn't a ton of customer feedback available online, but what's there isn't good. The bank behind BrioDirect, Webster Bank, has a low rating on multiple review sites, including Trustpilot. Folks aren't any happier on social media, where most of the (few) Reddit users who say they've used BrioDirect or Webster Bank have had issues with their accounts.
The largest problem seems to be money being lost during transfer (such as during initial funding). A few users have also complained that the bank didn't close their account when requested and that it took a long time to get their money back after closing an account.
It's hard to get objective opinions on customer service for any company online. The various users and reviewers who opined on customer service seemed less than pleased with their experience. One particular Reddit user who reported extensive back-and-forth with BrioDirect customer service said they were "rude" and repeatedly provided "many conflicting pieces of information."
Despite its ties to Webster Bank, BrioDirect customers can't go to Webster Bank for customer service. Instead, you need to contact BrioDirect customer service. This can be done by phone at: 877-369-2746 (weekdays, 8 a.m. to 8 p.m. ET, Saturday, 8:30 a.m. to 3 p.m. ET).
Reviews for BrioDirect's mobile banking app seem like a mixed bag. It may work better for Apple devices than Android, based on the disparity in ratings.
Fans of the app praise its speedy and easy-to-use interface. Folks with negative reviews cite issues creating an account, features that don't work consistently, and inability to open the app at times. App users also had similar complaints about "lost" money during transfers as reviewers from other sites.
BrioDirect doesn't offer any special benefits or perks for having a certain relationship. You also don't get any special benefits for having a Webster Bank account.
It's always a good idea to compare banking options, especially for banks with a dubious customer service reputation. Here are a couple places to start your comparison.
If you're looking for an online-only bank with award-winning customer service, check out Discover® Bank. You'll find lots of account options, including high-yield savings and CDs, all with competitive rates and low fees. You can also seamlessly manage everything from the very well-rated mobile app (for both Android and iOs).
You can find rates comparable to BrioDirect from LendingClub's high-yield savings account. Plus, LendingClub has very competitive rates on both short-term and long-term CDs. And while LendingClub is also an online-only bank, it has been around for decades and has a well-established reputation for excellent customer service.
This bank may be a good option for you if:
BrioDirect is FDIC insured through its parent bank, Webster Bank. BrioDirect also offers various security measures for its mobile app, including the option to set up face ID and multi-factor authentication.
BrioDirect is an online-only subsidiary of Webster Bank, which is a legitimate bank and member of the FDIC.
No, BrioDirect is online-only and has no physical branches. Additionally, its parent bank, Webster Bank, does not offer in-branch servicing for BrioDirect accounts.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page. APYs are subject to change at any time without notice.
