Brilliant Bank

Deposits held and insured by Equity Bank

Overview / Commentary
833-605-1037
PO Box 782378
Wichita, KS 67278
Deposits held and insured by Equity Bank

Related Posts

Brilliant Money Market Surges To 5.35% Yield - 10/31/2023

Brilliant returns to the leaderboard with the new Surge Money Market at 5.35%. First it was Luminary, then Magnetic and now Surge. They have become my fave bank to work with for high yields, nice folks, and easy access. Even free checks and reasonable minimums. After the previous rate dropped, they let all of us that had gotten Luminary to stay grandfathered in at 5.25%. This newly named version is better yet. https://www.brilliant.bank/

Brilliant Bank Debuts Rate-Leading Luminary Money Market - Expired - 6/1/2023

Brilliant Bank (internet division of Equity Bank) has debuted its Luminary Money Market Account has a rate-leading APY. $1k minimum/$500k maximum deposit/balance.

MMA Increases To 5.25 APY - 5/30/2023

New product is called Luminary Money Market Account. Contact the bank to upgrade your existing Magnetic account, sounds like rates won't automatically adjust upwards for legacy accounts.

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So Far, So Good!

Posted by: |

I got in on the Luminary money market, where I was earning 5.25%. I read on this site that they were now offering a Surge account, which was paying 5.35%. I sent them a quick message through my account page asking if I could switch over to a Surge account. Within just a few hours, I received an answer saying that they would switch me over within 24 hours, which they did. Very happy with the service I've received so far!

Brilliant Bank? More Like Backwards Bank

Posted by: |

I've had a lot of bank accounts and so far this is the only one that charges a fee to make a simple ACH transfer. Edit. After a while I've decided that I'm closing my account with them. Normally I'd keep a small amount of money in an unused account just to keep it open for future use but apparently they have a $2000 minimum balance requirement or else they charge you a fee. Good bye brilliant bank. I should have done my research better.

No Wires Out Only External Initiated Achs >5K

Posted by: |

Just spoke with a CSR manager. Can take wires in but cant send wires out. Internally initiated ACHs limited to 5k per day and month.
No limit on externally initiated achs
Hotel California rules of money transfer I guess

Bait And Switch Rates

The posted rates are for new accounts only, once you have an account they drop the rate. I closed my account. I messaged them to ask if I could close it online and the response was to bring the balance to zero and then call to close the account. I did that but meanwhile the charged me two transfer fees and. $10 minimum balance fee and closed the account before I called. When I complained to the supervisor Eric Tucker, he said if I was going to stay with them they could do a courtesy refund but would not since my account was closed. I told them I would have stayed if they paid the rates that they were advertising & he said I would have to close the account and open a new one for those rates. That sounds like a CD not a money market. CFG bank does not play those games and I would suggest you monitor your rate with this bank. Very deceptive practices.

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Health
B+

Data as of Q3 2023

Data displayed below is for insuring bank: Equity Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #25858
Year Established1985
Employees708
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.08%
Return on Equity - YTD10.98%
Annual Interest Income$181.9MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$4.94B$5B
LoansQ3 2023vs Q3 2022$3.24B$3.21B
DepositsQ3 2023vs Q3 2022$4.11B$4.25B
Equity CapitalQ3 2023vs Q3 2022$492.3MM$468.6MM
Loan Loss AllowanceQ3 2023vs Q3 2022$44.2MM$46.5MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$14.9MM$21.3MM
Real Estate OwnedQ3 2023vs Q3 2022$3.4MM$10.4MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Brilliant Bank; we are a rate comparison website and cannot provide official rates or promotions.

Brilliant Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.35%$1k-Surge Money Market

Brilliant Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.10%$1k$500k3 Month CD
5.05%$1k$500k9 Month CD
4.85%$1k$500k15 Month CD
Locations

Brilliant Bank is an Internet only bank and does not have branch locations. Its headquarters is located at PO Box 782378 - Wichita, KS 67278

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.