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 presents 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 presents a high-yield financial savings account that presently earns 3.9% APY. That is greater than 10 occasions greater than the nationwide common charge for financial savings accounts.
To open a Limelight HYSA, you will have to make a $100 minimal deposit. You’ll be able to solely open an account on-line, so you will have to switch the funds from one other financial institution, or ship a test or wire to Limelight.
Limelight doesn’t provide a debit card, ATM entry, or checks, so that you should not open a Limelight HYSA except you are snug making your whole deposits and withdrawals on-line. It is also value noting you could solely make six transfers out of your account every four-week interval.
Certificates of deposit (CDs)
Limelight presents 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 prospects could incur expenses 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 fee |
$25 |
|
Momentary 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 professionals and cons
Professionals:
Cons:
-
No checking accounts: Limelight does not straight provide any checking accounts. Should you undergo the method to use, you will be directed to use for checking accounts from Limelight’s mum or dad firm, CC Financial institution.
-
Restricted entry to accounts: HYSA account-holders don’t get debit playing cards or checks, and buyer critiques additionally point out difficulties logging into the financial institution’s apps. As a buyer, this implies it’s possible 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 will have bother reaching buyer help whenever you want it. Chat help isn’t obtainable on-line. Moreover, Limelight doesn’t put up enterprise hours for telephone 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 may strive submitting a contact type on the web site or sending an electronic mail to customercare@limelightbank.com.
Limelight doesn’t have its personal apps, so to entry your account by way of your smartphone you will have to make use of the apps from Limelight’s mum or dad firm, CC Financial institution. Ensure 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 effectively and there are login points.
Limelight Financial institution handle and telephone quantity
The telephone quantity for Limelight Financial institution is 800-639-6015. Limelight doesn’t have any bodily banking places, however you may ship mail correspondence to the next handle:
Limelight Financial institution
1909 W. State Avenue
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 quantity for Limelight Financial institution is 124302927.
Is Limelight Financial institution a respectable financial institution?
Limelight Financial institution is a respectable financial institution that gives a number of FDIC-insured deposit accounts, together with a HYSA and a number of 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.