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Grayson73 5.2K Views
Jun 5, 2023 2:10 PM

Brilliant Bank Money Market 5.25% APY

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Deal Details
Brilliant Bank Money Market 5.25% APY. FDIC insured.

U.S. News (https://money.usnews.com/banking/...liant-bank) says:
Backed by Kansas-based Equity Bank, Brilliant Bank offers online-only checking and money market accounts, and certificates of deposit. You can open an account in just minutes online. Equity Bank manages $5 billion dollars in assets and has locations in four states.

Pros & Cons
+You can set up a new account in about five minutes.
+Bank from anywhere at any time with the mobile app.
+No ATM fees for checking accounts.
-No physical locations.
-There are a limited number of banking products available.
-There is a monthly service charge for the checking account if you don't maintain the minimum balance.

Brilliant Bank is the 266th largest bank in the nation. It was established in 1985 and as of March of 2023, it had grown to 712 employees.

DepositAccounts list - https://www.depositaccounts.com/moneymarket/

https://www.brilliant.bank/
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Brilliant Bank Money Market 5.25% APY. FDIC insured.

U.S. News (https://money.usnews.com/banking/...liant-bank) says:
Backed by Kansas-based Equity Bank, Brilliant Bank offers online-only checking and money market accounts, and certificates of deposit. You can open an account in just minutes online. Equity Bank manages $5 billion dollars in assets and has locations in four states.

Pros & Cons
+You can set up a new account in about five minutes.
+Bank from anywhere at any time with the mobile app.
+No ATM fees for checking accounts.
-No physical locations.
-There are a limited number of banking products available.
-There is a monthly service charge for the checking account if you don't maintain the minimum balance.

Brilliant Bank is the 266th largest bank in the nation. It was established in 1985 and as of March of 2023, it had grown to 712 employees.

DepositAccounts list - https://www.depositaccounts.com/moneymarket/

https://www.brilliant.bank/

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Deal Score
+8
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7 Comments

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Jun 11, 2023 12:43 AM
1.2K Comments
Joined May 2021
ImagineNoReligionJun 11, 2023 12:43 AM
1.2K Comments
Original Poster
Pro
Jun 11, 2023 12:48 AM
1.6K Comments
Joined Dec 2004
Grayson73Jun 11, 2023 12:48 AM
Original Poster
Pro
1.6K Comments
Quote from ImagineNoReligion View quoted comment :
Some caveats. https://www.depositaccounts.com/b...ml#reviews [depositaccounts.com]
Yeah. Thankfully, most of the bad reviews were in 2022. I put in more than $2000 and it's not a trust, so the most recent 1-star reviews don't apply.
Jun 12, 2023 5:26 PM
12.6K Comments
Joined Jan 2009
teaberryJun 12, 2023 5:26 PM
12.6K Comments
You feel comfortable with a bank with bad reviews from just a year or less ago? I see you like to live dangerously LMAO
Quote from Grayson73 View quoted comment :
Yeah. Thankfully, most of the bad reviews were in 2022. I put in more than $2000 and it's not a trust, so the most recent 1-star reviews don't apply.
Jul 4, 2023 1:29 PM
3 Comments
Joined Dec 2015
AaronR5277Jul 4, 2023 1:29 PM
3 Comments
I applied to setup an account with this bank a few weeks ago, and the customer service has been awful for me. I've cancelled my application. Which you all luck with this bank 😂
Original Poster
Pro
Jul 5, 2023 4:59 PM
1.6K Comments
Joined Dec 2004
Grayson73Jul 5, 2023 4:59 PM
Original Poster
Pro
1.6K Comments
Quote from AaronR5277 View quoted comment :
I applied to setup an account with this bank a few weeks ago, and the customer service has been awful for me. I've cancelled my application. Which you all luck with this bank 😂
I hope I don't need customer service. I didn't have any issues with account set-up nor ACH out (initiated from outside bank).
Jul 8, 2023 6:14 PM
141 Comments
Joined Feb 2019
JayG17Jul 8, 2023 6:14 PM
141 Comments
FYI, they have lowered this to 4.65%. Not sure when this happened but I checked today and saw the lowered rate. when the rates are going higher these guys went and lowered the rates. Hmmm classic marketing gimic if you ask me. Got everybody to move the money here and then lowered the rate for everyone. I think they are betting the fact that people will be not move the money out if they just transferred it here...lol
Original Poster
Pro
Jul 13, 2023 10:32 PM
1.6K Comments
Joined Dec 2004
Grayson73Jul 13, 2023 10:32 PM
Original Poster
Pro
1.6K Comments
Quote from JayG17 View quoted comment :
FYI, they have lowered this to 4.65%. Not sure when this happened but I checked today and saw the lowered rate. when the rates are going higher these guys went and lowered the rates. Hmmm classic marketing gimic if you ask me. Got everybody to move the money here and then lowered the rate for everyone. I think they are betting the fact that people will be not move the money out if they just transferred it here...lol
My account is showing 5.13% now.

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