Brio Direct Bank – 2.1% APY High Yield Savings Account

September 27, 2019

58 Comments

by William Charles

Update 1/5/2020: Rate has been reduced to 2.1% APY from 2.3% APY (not 100% sure when this change occurred).

Update 10/10/19: Rate has been reduced from 2.46% to 2.3% APY.

Offer at a glance

Interest Rate: 2.3%
Minimum Balance: $25
Maximum Balance: $250,000 (FDIC limit)
Availability: Nationwide
Hard/soft pull: Unknown
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: None
Insured: FDIC

Contents

1 The Offer
2 Avoiding Fees
3 Our Verdict

The Offer

Direct link to offer

Brio Direct is offering 2.46% APY on their high-yield savings account.

Avoiding Fees

This account has no monthly fees to worry about

Our Verdict

This is the current highest basic savings account rate. I think this is a new offering, so not sure if the rate will remain competitive or not (always a concern when rate chasing). We also don’t know if it’s a hard or soft pull to open.

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58 Comments

newest

oldest most voted

Dan (@guest_1499712)

December 1, 2022 13:45

#1499712

I called customer service and they said it’s a soft pull

Harcourt Fenton Mudd (@guest_1484532)

November 9, 2022 17:40

#1484532

I think it’s up to 3.75% now. I would love to hear more reviews on this bank.

Yep (@guest_1426116)

August 16, 2022 12:59

#1426116

Does anyone know how interest is calculated on this account? I got an interest payment on Aug. 15 that appears to be significantly less than 2.15% on my average daily balance from Jul. 15-Aug.14. like shorted me about $50ish.

I’ve written to customer support but wondering if I missed fine print somewhere about it.

definitely having a much higher rate of problems with accounts the past few months than ever before, really weird.

if others have this account, you might want to double check.

Yep (@guest_1405945)

July 7, 2022 18:17

#1405945

Be warned: I opened this account to get the 1.8% which is marginally higher than CIBC, SoFI, etc. I initiated a $70,000 transfer at account opening, which they IMMEDIATELY withdrew from one of the other high interest bank accounts. However, they are now trying not to pay interest on it for a WEEK since they took it from the other bank. That is significant loss on large transfers. and highly unethical IMO.

if anyone knows recourse for that, please lmk. I will experiment with a push transfer from a bank that reliably transfers quickly.

midas89 (@guest_1406005)

July 7, 2022 20:24

#1406005

Yep

After it posts, call them complain. With the significant amount you deposited, figure out how much interest you lost and ask them for a courtesy credit. You might need to have a manager contact you.

And in the future, always open new accounts with the smallest amount possible. Wait to get the account number and then push in the big money from your external bank, as I did. No hold time once Brio gets it, and it usually posts next business day and interest begins to accrue that day.

Good luck.

John (@guest_1408577)

July 13, 2022 17:58

#1408577

Yep

How did you know they are not going to pay interest on it? They may put a hold on it so that you cannot use the money right now, but they may still pay you the interest because the money is in your account IMO.