Published on: August 2, 2022
By: Webster Bank
Direct banking provides traditional banking services without a brick-and-mortar branch network—or the costs associated with it. As a result, many consumers find direct banking to be a better value: offering higher deposit rates, fewer fees, and the latest in online and mobile banking convenience. Wondering if direct banking is right for you? Read on.
There are many reasons you may want to switch your banking to online only. Here are some of them.
If you rarely bank at your local branch and typically handle most transactions online or on your mobile phone, direct banking may be right for you. For example, the BrioDirect platform offers a full range of 24/7 digital banking tools to make managing your money simple and convenient.
With direct banking, you’re likely to earn a higher rate on your deposits than you do now with a traditional bank. Before you switch, though, compare: BrioDirect high-yield savings and CDs offer some of the best rates around.
With direct banking, you’ll also enjoy greater banking convenience with state-of-the-art digital technology that goes beyond what your local bank delivers. For example, BrioDirect’s mobile app is a fun, simple way to manage your financial life: It even enables you to access all your bank accounts—not just BrioDirect—for even greater control and banking flexibility.
Unlike most traditional banks, direct banking platforms typically focus their financial service offerings: Some offer strictly savings accounts; others also offer checking and loan options, as well as investments.
With direct banking, you won’t need to worry about finding a new bank when you move. Since you don’t visit a branch in person, you can still keep your account no matter where you move (or how often).
Direct banking is for anyone who doesn’t want, or need, to handle their banking in-person at a local branch; wants to earn the best rates on their savings, or prefers the convenience of online and mobile banking.
Thinking of joining the growing number of consumers who are switching to direct banking? Consider this list of the best direct banking features before you do and see how your options stack up:
The opinions and views herein are for informational purposes only and are not intended to provide specific advice or recommendations. Please consult professional advisors with regard to your individual situation.
All deposit products are provided by Webster Bank, N.A. ("Webster Bank"), an insured FDIC institution. BrioDirect is a sub-brand of Webster Bank. Webster Bank operates under the trade name BrioDirect. This trade name is used by, and refers to, Webster Bank, a single FDIC-insured bank.
Accounts that are opened via www.briodirectbanking.com and marketed by BrioDirect are Webster Bank accounts. Deposits in these accounts are made with Webster Bank. For purposes of determining how much FDIC insurance is applicable to your accounts, you need to consider all accounts maintained with Webster Bank, N.A., such as CD, checking, savings, BrioDirect online accounts and cash held in health benefits accounts with HSA Bank.