Webster Bank, National Association Reviews (63)

Rated 2.38 stars out of 5 - based on 26 reviews with ratings
  • Nov 5, 2022 |

    I was getting ready to link this bank account to move funds elsewhere to better paying account but first was going to send a message asking if the current 2.8% rate was long term or not. Looked at my BRIO DIRECT PLUS account and the interest rate had increased to 3.682%. I thought it must be an error and called up and spoke to CS today. Was told that 3.75% is the new rate for the PLUS accounts even though it is not reflected on the bank webpage. So, moved up their rating to 5 stars as will not have to move funds elsewhere now as this is the top paying savings account out of 6 banks. Even though the bank did try to scam 20 dollar fee last month, now the bank account interest has increased by $200 more per month and is actually a really good rate being that it is a major bank.
    Review on the Online bank

  • Oct 17, 2022 |

    WARNING - This bank is a fee monger!
    The BRIO DIRECT account had been open a couple months without any issues, and then there was the requirement to create the BRIO DIRECT SAVINGS PLUS account to obtain the highest 2.8% interest rate. Or be stuck in the original account with 2.15% and no future increases. Due to all the debits incurred on the old account with making three transfers out to the new account and also for some trial deposits for external account funding there were 7 debits in one month. I was not aware of it until the end of month the bank notified a 20 dollar fee assessed for going over 6 transactions. I was so freaking mad as it was their stupid requirement to create and fund a new account using the existing account incurred three of those debits. A 250K transfer requires 3 debits as 100K per day limit per bank policy. Unbelievable that this bank at first only offered to reverse 10 dollars of the 20 dollar fee. AFter pointing out that it was the banks own policies that caused this fiasco of having to switch over accounts and transfer funds the CSR said the entire 20 dollar fee would be reversed. Never thought that a bank of this magnitude would have such a chickensh!t deal of offering half of a bank fee reversal. Anyhow, then I said what about the original account with zero dollars? LOL!!! I was told if the account is not closed soon there will be a fee assessed on it for an underfunded account. The next request was to close that original account NOW! Not paying this bank with 200 billion in assets stupid fees when there is 250K in a savings account.
    Review on the Online bank

  • Oct 7, 2022 |

    BIG TIME WARNING- They are going to get you for not paying attention. Check your account regularly. If the rate changes, be sure that they haven't switched the name around some way. If they have, call them and open the new account and move your money. They nabbed me - I was still earning 2.15% for the last 3 weeks while the rate had risen all the way to 2.81%. No need to quit, no need to get angry, just pay attention.
    Review on the Online bank

  • Sep 30, 2022 |

    I had a tough time with Brio and a disappointing experience with Bankrate and Nerdwallet that got me into this a few months ago when rates were much lower. Rates moved up and Brio raised theirs but so called "legacy" clients like me seem to have topped out a few weeks ago at 2.15%. I just assumed that my rate would rise, but they didn't. Found this site which notes this. Bankrate and Nerdwallet do not and Brio makes excuses, but does change the rate moving forward. Other than this, no complaints about the account.
    Review on the Online bank

  • Sep 26, 2022 |

    Contacted the BrioDirect help line today and was told the following reason for why they made opening a new account called BrioDirect Savings Plus a requirement to get the 2.61% interest rate. Note: The old BrioDirect account will not get the higher rate and will be stuck at the 2.15%. He said that they changed the account opening requirement to $500 from the old amount of $25 and so they had to make a new account name for that. Whatever! Sounds like bunch of crap but he was able to get this shitshow fairly corrected and now the new account number shows up directly below the original account number in the exisitng online bank account. The account info tab for the new account shows the higher interest rate of 2.6%. Can transfer money to the new account online. It is stupid that the transferred funds between 2 similar accounts still have a hold time placed on them. Will take 3 days as the transfer limit is 100K per day. I am not closing the old account until after getting the interest payout for it. He offered to transfer the entire amount close it out with interest paid but I do not trust these banks and said prefer to transfer it myself and make sure the interest is paid out on the 15th of the month. Still the same crap set up with the beneficiary and had to submit a text message to add name to the new BrioDirect Plus account.
    Review on the Online bank

  • Sep 25, 2022 |

    Webster Bank is now pulling the same stunt as CIT bank to get the higher interest rate - if you have an existing BRIODIRECT account you only get 2.15% interest. You have to open a new account under BRIODIRECTPLUS to get the increased interest rate of 2.61%. At least CIT bank makes it super easy to create the new account and immediately transfer the funds over from the old account. This BRIO DIRECT PLUS is a mess. It does not even recognize the old BrioDirect account through the Plaid setup, and so have to do trial funding deposits within its own banking system. Total shitshow of a setup. Webster BAnk just sent an email that the new account was approved but I cannot enroll in the online banking for it. What a pathetic sideshow act. I am really debating if it is even worth the hassle to keep this account. CIT Bank made it very efficient to carry over the beneficiary also. This Webster Bank setup for beneficiaries is already a POS and they likely did not improve it with this new account setup. I am calling them up on 9/26 to find out if the beneficiary set up is the same stupid format. If they say yes, then I will open an account at ConnectOne Savings and transfer everything over to that bank. They pay 2.65% interest and have a very high bank rating.
    Review on the Online bank

  • Sep 25, 2022 | | Replies 1

    BrioDirect's recent rate change was not for existing depositors. If you opened an account earlier, even the day before the rate change, your rate is still 2.15%. Check it online if you don't believe it. Deceptive and probably illegal.
    Review on the Online bank

    sundancebiddy | Sep 25, 2022

    You have got to be joking! No way this could be such a scumbag bank. I never had that happen on any bank accounts. That is like a tactic of only the lowest rated scum sucking banks. Did you contact the bank and actually get verification that they do not raise the interest rates on existing accounts? They need to be a negative 10 star rating if that is true. Just in case I am opening an account at that Connect savings bank today and will move the 250K from BrioDirect this week if your statement is a fact.

  • Sep 14, 2022

    This is the worst f@@cking "bank" I have ever dealt with.
    These guys ought to be operating a carnival.
    The whole thing is a sham
    Its like a friggin roach motel
    Try and get your money out
    Review on the Online bank

  • Sep 2, 2022

    Brio Direct is the absolute worst. Their customer service is non-existent. Their banking requirements are way beyond ridiculous. I regret ever opening an account there. DON'T DO IT!
    Review on the Online bank

  • Aug 9, 2022 | | Replies 1

    Worst bank to solve your issue. Works great when all works fine but if you have an issue to be resolved it can take up to weeks. Long time on the phone waiting for an available customer service representative and back office very inefficient and slow to complete the process even after you send all the documentation requested. It toke me 15 days to unblock my account so I can do external transfers again and I had to escalate the issue to the manager . Very bad! do not recommend!
    Review on the Online bank

    NowWiser | Dec 21, 2022

    It took me more than 50 years of banking, but I finally found the absolute worst bank: BrioDirect! BrioDirect (Webster Bank) suspended my account indefinitely for the sole reason that I tried to withdraw funds. I've filed a complaint with the OCC because of this outrageous suspension.

  • Jul 28, 2022 |

    worst bank ever. I opened the online account and funded it, no problem. Several days later, I verified my other bank to make another transfer, which I then made. The next day I received an email stating that they could not make the deposit to my account and the transfer function was suspended. No reason was given. I called the help number, and after consultation they said that I would need to EMAIL a photo of my drivers license [front and back] and also the first page of a statement from my bank. There is no way I am emailing a copy of my ID anywhere. This made no sense. The email then said that to get my money back, I would need to have my bank get it back! I went to my bank the next day, and they initiated a request with the fraud dept to retrieve my money. Unbelievable!
    Review on the Online bank

  • Jul 12, 2022 |

    It looks like the external transfer deposits initiated on July 7th to complete funding of the new BRIO DIRECT account finally showed up in the online balance and should be earning interest. They are at a slugs pace on external transfers for sure. However, it included the weekend so likely be less time if initiated on a Monday. A few days in petty interest had to be sacrificed because as the higher priority was to get the full balance in the account prior to 15 July so it would be reflected in the July statement. The statement cycle for this bank ends on the 15th of the month instead of the end of the month. There are some bad reviews from others on different websites who seemed to have a lot of aggravation in opening a new BRIO account and gave up and went elsewhere. However, I was determined to open this account because many of the other banks paying 1.6% or more in interest have less stable monetary ratings and Webster Bank has highest health rating.
    Review on the Online bank

  • Jul 7, 2022 |

    Decent online website and also the phone APP is not bad. but the account is lacking in areas. Just opened the BRIODIRECT savings account the end of June. The bank website is not nearly as good as say Goldman Sachs MARCUS, which is probably the best of the bunch. There were no problems with initiating the transfers into the BRIODIRECT account. It allows 500K per day into the account. Unlike MARCUS, it does NOT credit your account as soon as the transfer is initiated. You have to wait until the transfer settles into the account before earning interest. Transfers initiated today are expected to be credited on July 12th. The BRIODIRECT beneficiary set up is outdated and asinine as all the other online bank accounts I have allow the input and editing of beneficiary information directly by the account holder. Not BRIODRECT. You have to sned stupid secure messages to request the bank to add the beneficiary and then you cannot view the beneficiary information on your bank account webpage. What a bunch of crap! I had to copy and paste the messages nto a PDF file to give to the beneficiary. In order to avoid any future transfer limitations out of the account, I am linking this BRIODIRECT as an external account to the MARCUS account. That way I do not have to use BRIODIRECT transfers to get money out of the account. It is okay because I only transfer out every few months the minimum needed to not exceed the 250K balance for FDIC coverage. But beggers cannot be choosers and since it pays 1.8 percent versue 1.1 percent like Discover or Barclays, then will accept the flaws anyway.
    Review on the Online bank

  • Mar 19, 2022 | | Replies 1

    Deeply concerned about Sterling's ties to oligarchs, especially since they were in heavy with Michael Cohen on the taxi medallion scam. Strongly suggest everyone avoid.
    Review on the Online bank

    biddysundance | Sep 21, 2022

    Who gives a sh%t? Nobody is going to save me if I do not have a dime and cannot pay the bills. This bank has the highest A+ health rating, mega asset value, and so I now they are not going to pull any stunts like trying to lock up an account for some bogus reason. Plus today the interest rate increased to 2.61%.

  • Jan 7, 2022 | | Replies 1

    Whatever you are gaining by having this account (0.05% over Ally or Marcus) you are losing when they take a week to make a simple bank transfer.
    Review on the Online bank

    Customer | May 25, 2022

    Webster bank is nothing but a bunch of liers I’m done you lost a Customer

  • Dec 28, 2021 |

    more trouble that it is worth and not high on the list of best rates anymore
    Review on the Online bank

  • Oct 26, 2021 |

    Nothing seemw to work right with the transfers, long delays, sleepless nights. Getting better after 6 months and rate is still competitive.
    Review on the Online bank

  • Aug 12, 2021 | | Replies 1

    Went through all the online questions. It turned down my app to open a svgs account. Called to ask why? They couldn't say, just said apply from a different computer. I did re-apply, to another bank, all good. Brio- a waste of time.
    Review on the Online bank

    BrioDirect | Sep 7, 2021

    If you are willing to give us another chance, please contact us at sterlingsupport@snb.com so we can understand your situation better in order to try and turn your experience around. Please do not share account or SSN numbers in this communication. Thank you.

  • Jun 15, 2021 | | Replies 1

    I saw the bad reviews here and elsewhere but I need to say that I opened account 3 mos ago and find Brio to be at the same level as any of these.
    Review on the Online bank

    | May 25, 2022

    Ur full of shit Webster all you do is lie to ur customers and mislead them

  • Jun 13, 2021 |

    Opened acct here only to see the rate fall by the time it was eventually funded. Will close now
    Review on the Online bank

  • May 5, 2021

    Sterling Bank is the NY bank that overinflated NY taxi medallions just before Uber showed up and forced new immigrants into mortgaging everything in order to buy these. Beyond the ethical issues (many drivers committed suicide as a result), this bank could be facing legal action in New York and elsewhere and I would be cautious about depositing money here.
    Review on the Online bank

  • Mar 31, 2021 | | Replies 1

    It took 7 days to perform an ACH transfer. Even worse than Synchrony and Interactive Brokers which are both known con jobs. Closed account. Done.
    Review on the Online bank

    BrioDirect | Apr 27, 2021

    Dear Jo, If you are willing to give us another chance, please reach out to us at sterlingsupport@snb.com to speak to our manager directly. Please do not share account or SSN numbers in this communication.

  • Mar 29, 2021 |

    I have been with Purepoint but I became agitated with Purepoint droping its rate to .40% with no notice so picked this from among the banks over .60% but this convinced me to stay with Purepoint.
    Review on the Online bank

  • Mar 1, 2021 | Replies 1

    Online CDs 12 Month Rates

    Don't know Brio but if it's part of Sterling I want no part of it. Sterling useless,outdated online access website to their rude, nasty, bored employees,
    Review on the Online bank

    BrioDirect | Mar 12, 2021

    Muchy 1,
    It is discouraging to learn of your experience with us. Your feedback helps us improve and we would like to learn more about how we can make this better please reach out to us at sterlingsupport@snb.com. Please do not share account or SSN numbers in this communication.

  • Jan 23, 2021 |

    Terrible. I find myself wishing I had read the other reviews.
    Review on the Online bank

  • Jan 5, 2021 | | Replies 1

    Online CDs 12 Month Rates

    This bank is just TERRIBLE!
    Review on the Online bank

    BrioDirect | Mar 12, 2021

    ETC, We would like to have a better understanding about your experience. Please reach out to us at sterlingsupport@snb.com at your earliest convenience and we will do our best to resolve this with you. Please do not share account or SSN numbers in this communication.

  • Oct 6, 2020 |

    Worst bank in the world, they charge for everything, they wont even let you pull large sums out of your account without charging you fees. Never work with these guys!
    Review on the Online bank

  • Apr 3, 2020 | | Replies 1

    The single worst banking experience of my life. Less than a month after my first deposit, this bank froze my account and completely removed it from my online view. I cannot access the money whatsoever. They will not let me withdraw it. They will not let me close the account. For 4 days now I have had no access to the account and after hours and hours on the phone, not one person can even explain to me why they have restricted the account or what can be done to unfreeze it. I've been promised call backs that never came. I've had to file a complaint with the Office of the Comptroller of Currency. I've never seen anything like this. This bank needs to be shut down.
    Review on the Online bank

    Zhara | Dec 30, 2022

    I have the same situation.
    How did your situation got resolveed?

  • Mar 12, 2020 |

    Online Savings Rates

    Have no problem getting interest or having money taking out
    Review on the Online bank

  • Mar 1, 2020 |

    Ok, I read A LOT of reviews on Sterling (Brio) that made me wary of it, but with one of the highest interest rates out there I tried it to see how bad it really was.

    CONS 1st
    1) I started with an initial deposit of $25 which did take over a week to process. WORK AROUND: I use Ally as my other high-interest yield bank. I have been doing all deposits in and withdrawals out from the Ally website and the processing days are 1-3 days until it shows up either in my Brio or Ally account. ALWAYS use the external bank to do the transfer/withdrawal
    2) Nowhere does Brio give you your account number when you sign up/ nor is it on the statements. I had to call to get my account number, if you don't write it down you'll have to call again. Write it down!
    3) The interest rate has been dropping. Currently, it is 2.0%. There is not much control over this is the Fed cuts rates, but 2.0% is still an industry leader right now.

    All in all, it's working for me. I got a great interest credit last month. The biggest thing I recommend if you do use Brio is do EVERYTHING through your external bank that you link with Brio. It has its flaws sure but for me, it's easy enough for 2% interest.

    Review on the Online bank

  • «
  • Page 1 of 2
  • 2
  • »

Add Your Review

Rate it here →