Cash News
Summary: BrioDirect is the online brand of Webster Bank. As an online-only bank, BrioDirect offers high-yield savings accounts and certificates of deposit (CDs) with low fees.
BrioDirect products and services
BrioDirect offers the following two products:
-
High-yield savings account: BrioDirect’s high-yield savings account is one of the few that . The drawback is that this online savings account requires a minimum opening deposit of $5,000 to get started. However, once the account is open, you only need to maintain a minimum of $25 in your account to earn the highest advertised rate. There is also no associated with this account.
-
High-yield CDs: BrioDirect offers CDs with 12-, 24-, or 36-month terms. The minimum opening deposit for these CDs is $500. Interest is compounded daily and credited to your account at the end of each quarter and at maturity. If you withdraw money before the CD reaches maturity, you are subject to an early withdrawal penalty of three to 12 months’ worth of interest.
BrioDirect fees
Here are some of the you may encounter as a BrioDirect customer:
BrioDirect pros and cons
Before banking with BrioDirect, there are some pros and cons to consider:
Pros:
-
No monthly maintenance fees: BrioDirect does not charge a monthly maintenance fee for its deposit accounts.
-
Competitive savings and CD rates: The high-yield savings account from BrioDirect currently offers 5.15% APY — more than 11 times the . Its CDs also come with rates as high as 4.50%, depending on the term.
Cons:
-
High minimum opening deposit for savings account: To open a high-yield savings account with BrioDirect, you must deposit at least $5,000. Account holders must also maintain a balance of at least $25 to earn the highest advertised rate.
-
Limited account options: BrioDirect currently only offers two types of deposit products: a high-yield savings account and high-yield CDs. If you’re looking for a checking, money market, or other type of account, you’ll need to explore other options.
Customer service and mobile banking experience
To speak with a BrioDirect customer service representative, you can contact the client service telephone center at (877) 369-BRIO (2746), Monday through Friday from 8 a.m. ET to 8 p.m. ET and Saturday from 8:30 a.m. to 3 p.m. ET.
You can also contact BrioDirect using the following mailing address:
Webster Bank
1 Jericho Plaza
Jericho, NY 11753
Attn: BrioDirect Deposit Operations
BrioDirect also offers online banking services via the Webster Bank mobile app, which is available for download on the App Store and Google Play. The app has a rating of 4.6 and 4.2 stars, respectively. The app allows you to review account balances and transactions, , send money via , transfer money between accounts, and more.
Frequently asked questions
Is BrioDirect FDIC-insured?
Yes. BrioDirect is a brand under Webster Bank, which is an institution.
What is BrioDirect’s routing number?
Wire transfers must be sent to Webster Bank; its is 221970443.
Can I visit a BrioDirect branch?
BrioDirect is an online-only bank, which means it does not operate any physical branch locations. However, you can manage your BrioDirect account by logging into your account online or via the mobile app.