Related Posts
9/29 - Briodirect Plus Savings Increased To 2.80% APY
9/21 - Brio Direct 2.61% Is A New Account
9/21 - Briodirect Is 2.61% APY
7/29 - Brio Direct High-Yield Savings APY Bounds Upward
7/28 - BrioDirect Bolts Out Front To 2.15% APY
6/30 - BrioDirect High-Yield Savings APY Tops Nationwide Rate Charts
6/29 - Brio Direct Increased Savings Rate To 1.80%
6/17 - Briodirect Ups Rate To 1.15%
5/23 - BrioDirect Boosts Nationally Available High-Yield Savings Rate
8/3 - Brio Keeps Sinking... Now Down To 0.90% APY
7/22 - BrioDirect Offers Top Short-Term CD Rate
6/27 - Briodirect Dropped To 0.95% APY
5/21 - Rate Drop From 1.40% To 1.25% APY
4/16 - Another Drop At Briodirect, Down To 1.55% APY This A.M.
3/20 - Dropped Again Today To 1.65%
3/5 - Another Month, Another Rate Cut By Briodirect
2/14 - Brio Dropped Again To 2.00%
1/17 - High-Yield Savings Drops To 2.05%
Great Experience So Far
I've had accounts with BrioDirect for almost 2 years and it has been a great experience. They pay the highest interest rates of any bank I've been able to find and don't have the requirements that many other banks do. One complaint would be customer service, in that it is hard to speak with someone but I haven't had any reasons to so far, other than general questions. Another annoying item, but not a big deal, was when their rate went up to 3.75%, they made a new account I had to open instead of upgrading my current account. Besides these two item, I've had no issues and love/recommend this bank to anyone looking for high interest!
Brio Direct Is Very Serious About The "No More Than 6 Transfers Per Statement Cycle" Rule.
On the 14th of October when Brio Direct paid interest for the "statement cycle", I also received a debit of $60 for excess withdrawals. OK, maybe I didn't read something in the TOS when I opened the account, but it's not on their website about their High Yield Savings accounts, even the CSR couldn't find it. The fee isn't based on a calendar month it's based on a statement period and that date can change month to month. Trial deposits count, transfers between Brio accounts count. Reg. D (6 transfers per month) has been suspended as a requirement to savings accounts, but the Fed left it open so banks can still charge a fee if they "want" to. Brio wants to. I got them to reverse the charge as a onetime curtesy, but if you're banking with Brio, you need to know about their fees.
ACCOUNT IS FROZEN
Earlier this week I had a deposit of 50001 in savings account 50000 in the other account the bank had frozen my account and when I ask for details they told me that the review team would reach out to me I have not heard anything from the review team. When on the phone I asked the lady what the estimated time would be to hear from them she said there is no estimated time. It would be nice to know when the review team should reach out to me that's my only thing. I need access to these funds. I personally would not recommend anyone to bank with these people
Need To Open New Account To Get 3.75% Interest Rate
11/10/2022
Current advertised interest rate for BrioDirect high-yield savings is 3.75%. I checked the current interest on my existing BrioDirect high-yield savings account and it is 2.175%. I called them to check on it, and they told me I needed to open a new account with the 3.75% interest rate, that it didn't apply to my existing account.
Data as of Q2 2022
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 18221 |
| Year Established | 1870 |
| Employees | 4070 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.77% |
| Return on Equity - YTD | 6.15% |
| Annual Interest Income | $933.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $67.47B$33.74B |
| Loans | Q2 2022vs Q2 2021 | $45.08B$21.17B |
| Deposits | Q2 2022vs Q2 2021 | $53.28B$29.17B |
| Equity Capital | Q2 2022vs Q2 2021 | $8.60B$3.42B |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $571.5MM$307.9MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $225.5MM$112.8MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $2.7MM$2.8MM |