Radius Bank

• Hybrid Checking Account
• Services and Features
• Free Transfers
• Limited Fees

Hybrid Checking Account

With the Radius Hybrid Checking Account you can earn up to 1.00% APY (annual percentage yield) on account balances over $2,500 and 1.20% APY on balances over $100,000. Very few checking accounts offer any interest at all, so Radius's high-yield checking account rate is very competitive. This account comes with a free debit card and no ATM fees. Radius says this account has the earnings of a savings account with the flexibility of a checking account. The hybrid account gets rid of the need to transfer money back and forth between two accounts in an attempt to maximize earnings. This account can be used with a Radius Bank credit card or third-party credit cards. 

High-Yield Savings Account

Radius customers can also boost their savings with the Radius High-Yield Savings account option.

• Earn 1.50% APY on balances of $2,500 and up and 2.05% APY on balances of $25,000 and up
• Interest accrues daily and is compounded and credited monthly
• Free online and mobile banking
• No monthly service fees or minimum balance requirements (after $100.00 opening)
• ATM card available 
• Limit of six transactions per month

Services and Features

Radius Bank offers online banking solutions for both personal and business uses. Radius Bank users will enjoy relatively high interest rates, fast and easy transfers, no monthly fees, and a number of account options. Prospective clients can open an account through Radius Bank online securely and with little personal information. Here are some more perks from a Radius bank account:

• Radius High-Yield Savings Account: earn premium 2.05% interest on savings account balances of $25,000 or more
• Access Money: use any ATM and get unlimited ATM fee rebates with Radius Hybrid or Radius Checking
• Send Money: send money instantly to anyone via text or email using a phone, tablet or computer
• Free chip-enabled debit card
• Apple Pay available with debit card
• Free online and mobile banking
• Free first order of checks
• $100.00 minimum to open
• FDIC-insured
• No monthly maintenance fee
• Easy to open an account

Free Transfers

With all Radius Bank accounts, free internal and external online transfers between all Radius accounts, accounts with other financial institutions, and other online accounts can take place. Unlimited, fee-free withdrawals at Radius Bank ATMs and Financial Center locations also apply. Radius Bank customers can also make PIN-based purchases in stores or online using the Radius ATM card.

Limited Fees

Radius bank accounts have few fees, and those they do have it's transparent about. These accounts have no monthly maintenance fees. Radius charges $5.00 per day for overdraft fees. Though transfers between other bank accounts are free, a domestic and international wire transfer will be accompanied by fees. 

• Minimum Balance Requirement
• Minimum Deposit
• Customer Service

Minimum Balance Requirement

Radius Bank boasts of high interest rates for their clients which is compounded monthly. However, while these high interest rates may seem appealing, there are balance requirements to reach those high interest yielding interest rates. The restrictions and tiers are broken down as follows:

• $0-$2,499.99 = 0.00% APY (for either account)
• $2,500.00+ = 1.5% APY (for savings account), 1.00% APY (for checking account)
• Accounts will earn stated APY only for the portion of the balance within the specified tier

Minimum Deposit

Each account with Radius Bank requires a minimum opening deposit of at least $100. While this is relatively standards within the online banking world, it is a higher minimum deposit than most other platforms require. However, after this initial deposit the accounts have no minimum balance. 

Customer Service

Several customers have left reviews on our website about Radius Bank's poor customer service. This caused problems when trying to access their money and accounts.