Banking where your best interest comes first.

High, market-based interest. Low account fees. Up to $2.5 million FDIC insurance. Premium experience.

Galileo Money+ is available exclusively through select financial advisors.

Our Banking Philosophy

We believe our clients’ best interests should come ahead of our own. We seek to be transparent, consistent and fair in our stewardship of your money.

High, Market-Based Interest

Our interest rate calculation methodology is transparent and tied to the market. You receive a majority of what we earn on your deposits.

Low Account Fees

No monthly service fees—ever. And the fees we do charge are straightforward and under your control.

High FDIC Insurance

Up to $2.5 million of FDIC insurance per accountholder—that’s 10x more federal coverage than any single bank offers.

Premium Experience

Our mobile app is modern and easy to use. And, the sleek design of the Galileo Money+ Debit Mastercard will impress friends and colleagues. Both are paired with white-glove customer service.

Our Banking Philosophy

We believe you deserve to:

  1. Keep your bank deposits with an institution that places your best interests before its own.
  2. Earn rates of interest and returns tied to market conditions—not profit motives.
  3. Be treated fairly regarding fees associated with holding your money, including simplicity and transparency.
  4. Have simple and convenient access to your money whenever you need it.

Our Interest Rate Calculation Approach

Transparent, Market-Based Interest Rate Calculation

Our interest rates are based on the Effective Federal Funds Rate (“EFFR”). The EFFR is directly tied to the Federal Reserve’s Target Federal Funds Rate and indirectly tied to the interest rate banks receive when they deposit cash at the Federal Reserve.

EFFR and Galileo Money+ interest rate – 2018 and YTD Q4 2019 (Plus Account)
* calculated and not actual interest rates, to illustrate Galileo Money+’s interest rate calculation methodology over time

Consistent Calculation

Galileo Money+’s interest rate calculation methodology remains consistent over time, so you always know what your interest will be when the Federal Reserve changes the Target Federal Funds Rate.

Plus Account interest rate calculation formula:

  • + Effective Federal Funds Rate
  • – Galileo Money+ Administration fee
  • – Financial Advisor fee
  • = Depositor Interest Rate

Maximize Your Interest Opportunity

A transparent, consistent interest rate calculation ensures you maximize your interest opportunity every day.

There is no longer a need to “bank shop” for the highest interest rates.

* The Galileo Money+ Spending Account Annual Percentage Yield (APY) is accurate as of Oct 31, 2019. This rate is variable and may change. No minimum balance is required to open the account. The Spending Account does not have monthly service fees. The balance in the Spending Account must be at least $0.01 to earn interest. The Galileo Money+ Plus Account Account Annual Percentage Yield (APY) is accurate as of Sep 23, 2019. This rate is variable and may change. No minimum balance is required to open the account. The Plus Account does not have monthly service fees. The balance in the Plus Account must be at least $0.01 to earn interest.

** Up to $2.5 million in FDIC insurance per accountholder for the total combined balance in Galileo Money+ Spending and Plus Accounts and other accounts the accountholder maintains at the depository financial institution. Banking Services provided by The Bancorp Bank, Member FDIC. The Galileo Money+ Debit Mastercard is issued by The Bancorp Bank pursuant to license by Mastercard International Incorporated and may be used everywhere Mastercard debit cards are accepted.

© Copyright 2019 Galileo Financial Technologies Inc.

Accounts

An account for spending and an account for saving.

You get both with Galileo Money+

Plus Account
For saving

  • + 1.05% APY Interest*
  • + $0 Monthly Service Fee
  • Up to $2.5 million total FDIC Insurance**

Spending Account
For day-to-day spending

  • + 0.43% APY Interest*
  • + MasterCard debit card
  • + $0 Monthly Service Fee
  • + Up to $2.5 million total FDIC Insurance**
  • ATM, ACH, Wire and Peer-to-Peer Payments

Banking Philosophy

Galileo Money+ believes depositors should bank with a financial institution that puts their best interests first. No monthly service fees; high, market-based and consistently calculated interest rates; and a premium experience are central to meeting that banking philosophy

* The Galileo Money+ Spending Account Annual Percentage Yield (APY) is accurate as of Oct 31, 2019. This rate is variable and may change. No minimum balance is required to open the account. The Spending Account does not have monthly service fees. The balance in the Spending Account must be at least $0.01 to earn interest. The Galileo Money+ Plus Account Account Annual Percentage Yield (APY) is accurate as of Sep 23, 2019. This rate is variable and may change. No minimum balance is required to open the account. The Plus Account does not have monthly service fees. The balance in the Plus Account must be at least $0.01 to earn interest.

** Up to $2.5 million in FDIC insurance per accountholder for the total combined balance in Galileo Money+ Spending and Plus Accounts and other accounts the accountholder maintains at the depository financial institution. Banking Services provided by The Bancorp Bank, Member FDIC. The Galileo Money+ Debit Mastercard is issued by The Bancorp Bank pursuant to license by Mastercard International Incorporated and may be used everywhere Mastercard debit cards are accepted.

© Copyright 2019 Galileo Financial Technologies Inc.

Spending Account Features

Direct deposit

Mobile Deposit1

Mobile App

Online Billpay1

Debit Card

ACH/Wire

ATM

Peer-to-peer

[1] Mobile check deposit and online billpay to be available in late 31 Mar 2020

Interest Rate Calculation Methodology

Galileo Money+’s interest rates are market-based, linked to the Federal Reserve’s Effective Federal Funds Rate. We’re transparent and consistent in how we calculate your interest and return to you the majority of what we earn from your deposits.

Visit galileomoneyplus.com for details on how interest rates are calculated.

How it works

  1. Download the Galileo Money+ app at the Apple or Google Play App Stores.
  2. Open an account in a few minutes from your mobile phone.
    Galileo Money+ MasterCard is in the mail the next day.
  3. Turn-on direct deposit so your paycheck is deposited into your Spending Account.
  4. ACH or wire the checking and savings balance at your prior bank to your Spending and Plus Accounts.
  5. Benefit from 100% of your balance in high interest FDIC insured accounts.
  6. Enjoy!
    Use your Galileo Money+ Mastercard, ATM and peer-to-peer payments for all day-to-day spending.

Account Details and Fees

Bank Issuing Bank: Bancorp Bank
Marketing Agent: Galileo Money+
Technology: Galileo Financial Technologies
Customer service Yes
M-F 8:00am to 4:30pm MT Automated Service 24/7
Account protection* FDIC
Account protection amount* Up to $2,500,000
Deposit based fees 0.20% Galileo Admin Fee
0.30% Advisor Fee
0.50% TOTAL
Account opening fee $5
Card replacement $0
Service fee (monthly) $0
ATM In Network (MoneyPass) $0
ATM Out of Network $2.50
ATM - international $2.50 + 3%
Online billpay $0
Checks (mailed by bank) $0
External account transfer (ACH) $0
Wire – incoming $5
Wire – outgoing $20
Foreign transaction 3%
Overdraft $0

* Up to $2.5 million in FDIC insurance per accountholder for the total combined balance in Galileo Money+ Spending and Plus Accounts and other accounts the accountholder maintains at the depository financial institution. Banking Services provided by The Bancorp Bank, Member FDIC. The Galileo Money+ Debit Mastercard is issued by The Bancorp Bank pursuant to license by Mastercard International Incorporated and may be used everywhere Mastercard debit cards are accepted.

© Copyright 2019 Galileo Financial Technologies Inc.

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