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Brilliant Bank Money Market 5.25% APY

+8 Deal Score
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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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Joined May 2021
L3: Novice
> bubble2 589 Posts
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ImagineNoReligion
06-10-2023 at 05:43 PM.
06-10-2023 at 05:43 PM.
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Joined Dec 2004
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Grayson73
06-10-2023 at 05:48 PM.
06-10-2023 at 05:48 PM.
Quote from ImagineNoReligion :
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.
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Joined Jan 2009
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> bubble2 12,053 Posts
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teaberry
06-12-2023 at 10:26 AM.
06-12-2023 at 10:26 AM.
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 :
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.
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Joined Dec 2015
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AaronR5277
07-04-2023 at 06:29 AM.
07-04-2023 at 06:29 AM.
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 😂
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Joined Dec 2004
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Grayson73
07-05-2023 at 09:59 AM.
07-05-2023 at 09:59 AM.
Quote from AaronR5277 :
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).
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Joined Feb 2019
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JayG17
07-08-2023 at 11:14 AM.
07-08-2023 at 11:14 AM.
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
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Joined Dec 2004
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Grayson73
07-13-2023 at 03:32 PM.
07-13-2023 at 03:32 PM.
Quote from JayG17 :
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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