Brio Direct, a division of Webster Bank

Deposit Rates APY Vs.Others
Savings N.A. 3.50% →
1-Year CD 0.45% 3.70% →
2-Year CD N.A. 3.80% →
3-Year CD N.A. 4.00% →
4-Year CD N.A. 4.15% →
5-Year CD N.A. 4.25% →

2022 Overview

General Online Bank Information

Money that you deposit is held by Webster Bank, National Association. Webster Bank, National Association is an FDIC insured institution founded in 1870. It has approximately $65.01 billion in assets.

Deposits FDIC Insured Yes
Insured Bank Webster Bank, National Association
FDIC Certificate # 18221
Date Established 1870
Assets $65.01 billion
Loans $42.99 billion
Deposits $54.63 billion
Capital $8.72 billion

For a more detailed analysis of Webster Bank, National Association's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 4, 2022

Online CD Rates
Online CD Rates APY MIN MAX
24 Month CD
2.30% $500 - Learn More
9 Month CD
0.30% $500 - Learn More
12-Month CD
0.45% $500 - Learn More

 

Bank Offers

Brio Direct Lowers Online Savings Rate to 2.10% APY
Dec 12, 2019

Brio Direct, a division of Sterling National Bank, has lowered its online savings rate from 2.20% to 2.10% APY.   This is the most recent is a series or quick and successive rate drops at this bank.   While the rate is still very competitive, this bank is so poorly reviewed on BestCashCow that depositors may want to think twice before chasing their savings rate.




Climate Initiatives

Brio Direct, a division of Webster Bank is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.


Brio Direct, a division of Webster Bank Articles

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Customer Reviews for Brio Direct, a division of Webster Bank (58)


  • September 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.

  • September 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.

  • September 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.

  • September 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.

    sundancebiddy | Oct 4, 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.

  • September 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
    GO ANYWHERE>>JUST NOT HERE

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