Abstract: Limelight Financial institution is the online-only division of Capital Group Financial institution (CC Financial institution), which was based in 1993. Limelight is headquartered in Nice Grove, Utah. The financial institution affords a number of CDs and an HYSA, however no checking accounts can be found at the moment.
Limelight Financial institution product overview
Excessive-yield financial savings account (HYSA)
Limelight affords a high-yield financial savings account that at present earns 3.9% APY. That is greater than 10 occasions larger than the national average rate for savings accounts.
To open a Limelight HYSA, you may have to make a $100 minimal deposit. You possibly can solely open an account on-line, so you may have to switch the funds from one other financial institution, or ship a test or wire to Limelight.
Limelight doesn’t provide a debit cardATM entry, or checks, so that you should not open a Limelight HYSA except you are comfy making your entire deposits and withdrawals on-line. It is also price noting you could solely make six transfers out of your account every four-week interval.
Certificates of deposit (CDs)
Limelight affords 4 totally different choices for CDs, all with aggressive rates of interest. Phrases vary from six to 36 months and require a minimal deposit of $1,000.
Limelight Financial institution charges
Limelight doesn’t cost many charges, although clients could incur fees for particular providers.
|
FEE |
FEE AMOUNT |
|---|---|
|
Cashier’s test (outgoing home) |
$10 |
|
Specific transport cashier’s test (outgoing home) |
$25 |
|
Wire switch (incoming home) |
Free |
|
Wire switch (outgoing home) |
$15 |
|
Return test |
$7 |
|
Particular account analysis |
$35 per hour, $5 copy |
|
Cease cost |
$25 |
|
Non permanent assertion |
$2 |
|
Garnishment or tax levy |
$75 |
|
Verification of deposit |
$10 |
|
CD early withdrawal penalty |
90-180 day’s curiosity, relying on time period |
Limelight Financial institution execs and cons
Execs:
Cons:
-
No checking accounts: Limelight would not straight provide any checking accounts. Should you undergo the method to use, you may be directed to use for checking accounts from Limelight’s mother or father firm, CC Financial institution.
-
Restricted entry to accounts: HYSA account-holders don’t get debit playing cards or checks, and buyer opinions additionally point out difficulties logging into the financial institution’s apps. As a buyer, this implies chances are you’ll find yourself pissed off with the restricted choices for making deposits, withdrawals, and monitoring your accounts.
Customer support and cellular banking expertise
As a Limelight Financial institution buyer, you’ll have hassle reaching buyer help while you want it. Chat help shouldn’t be out there on-line. Moreover, Limelight doesn’t submit enterprise hours for cellphone help. However should you name throughout common enterprise hours, your name is prone to go to voicemail.
For different avenues of contacting the financial institution, you’ll be able to attempt submitting a contact type on the web site or sending an e mail to customercare@limelightbank.com.
Limelight doesn’t have its personal apps, so to entry your account by your smartphone you may have to make use of the apps from Limelight’s mother or father firm, CC Financial institution. Make sure to not confuse this for the CC Financial institution cellular app, which is an app for Central Cooperative Financial institution based mostly in Bulgaria.
Within the Apple App Retailer, the CC Financial institution Utah app has 3.7 out of 5 stars and the Google Play retailer lists 3.5 stars. Customers of each apps report that, sometimes, the apps do not work properly and there are login points.
Limelight Financial institution deal with and cellphone quantity
The cellphone quantity for Limelight Financial institution is 800-639-6015. Limelight doesn’t have any bodily banking places, however you’ll be able to ship mail correspondence to the next deal with:
Limelight Financial institution
1909 W. State Road
Nice Grove, UT 84062
Limelight Financial institution FAQs
Is Limelight Financial institution FDIC-insured?
Sure, Limelight Financial institution is FDIC-insured.
What’s Limelight Financial institution’s routing quantity?
The routing number for Limelight Financial institution is 124302927.
Is Limelight Financial institution a respectable financial institution?
Limelight Financial institution is a respectable financial institution that provides a number of FDIC-insured deposit accounts, together with a HYSA and several other CDs.
The place is Limelight financial institution positioned?
Limelight Financial institution is the online-only division of Capital Group Financial institution, and it doesn’t have any bodily branches. Limelight’s headquarters are in Nice Grove, Utah.
