Brilliant Bank
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3/28 - Brilliant Bank Boosts 9-Month CD APY To Rate-Leading Level
3/20 - Brilliant Banks Unveils Competitive Magnetic Money Market Account
3/9 - Going LIVE in Just A Few Days...The Resurgence Of Brilliance With Brilliant's MAGNETIC Money Mkt!
1/23 - Brilliant Bank Money Market APY Boosted To New-Rate Leading Level
1/20 - Brilliant Bank Increases MMA Rate To 4.30% APY
12/6 - Brilliant Bank Increases 15-Month CD 24Bps To 4.85% APY
11/11 - Brilliant Bank Cds Re-Emerge!
11/10 - Brilliant Bank Money Market Account Is A Rate Leader
11/10 - Brilliant Bank Money Market Soars 40bps To 4.01% APY
11/2 - Brilliant Bank Strikes Back Again…
10/28 - Brilliant Money Market Increased To 3.25% APY
10/18 - Brilliant Bank Money Market Account Leads The Rates Peloton
9/30 - Brilliant Bank Strikes Back Against All !!
9/26 - Brilliant Bank Ups The Electric Money Market Ante > To A 2.80% APY.
9/8 - Brilliant Bank Debuts Competitive Money Market Account
9/2 - Brilliant Bank Ups Money Market To 2.61% APY
8/15 - Brilliant Bank Offers Money Market At 2.25% APY
So Far, So Good!
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!
Initiate Transfers From External Bank
I was told that I could initiate the transfer from an external bank to/from Brilliant and there would be no dollar amount limits or fees. Can anyone confirm this? Any downside to doing transfers this way? My external bank (Schwab) does not have limits or fees that I can tell.
Brilliant Bank? More Like Backwards Bank
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
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
Data as of Q3 2024
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 25858 |
| Year Established | 1985 |
| Employees | 802 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.08% |
| Return on Equity - YTD | 10.35% |
| Annual Interest Income | $221.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $5.35B$4.94B |
| Loans | Q3 2024vs Q3 2023 | $3.56B$3.24B |
| Deposits | Q3 2024vs Q3 2023 | $4.39B$4.11B |
| Equity Capital | Q3 2024vs Q3 2023 | $569.8MM$492.3MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $43.5MM$44.2MM |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $19.7MM$14.9MM |
| Real Estate Owned | Q3 2024vs Q3 2023 | $2.8MM$3.4MM |