With increasing fears of fraud, ATM skimmers, and identity theft, people are more cautious than ever when it comes to their financial safety. It’s understandable that the concept of a bank that operates entirely online can be a bit scary, but, in reality, they’re just as safe as any brick-and-mortar traditional bank. Before you miss out on the higher rates an online savings account has to offer, let’s take a closer look at some of the most common misconceptions.
Here are the four biggest security myths—and the truth behind them:
Now that you know there’s no reason to be concerned about the security of online savings accounts, it’s time to find the one that also offers you a great rate with the security of FDIC insurance—and without the fees—like BrioDirect’s High-Yield Savings account: Learn more now.
All deposit products are provided by Sterling National Bank, an insured FDIC institution. BrioDirect is a sub-brand of Sterling National Bank. Sterling National Bank operates under the trade name BrioDirect. This trade name is used by, and refers to, Sterling National Bank, a single FDIC-insured bank.
Accounts that are opened via www.briodirectbanking.com and marketed by BrioDirect are Sterling National Bank accounts. Deposits in these accounts are made with Sterling National Bank. For purposes of determining how much FDIC insurance is applicable to your accounts, you need to consider not only the BrioDirect online savings or CD accounts that you maintain, but also all other accounts you maintain at Sterling National Bank.