Most Popular Accounts
About the Bank
Radius Bank is an online bank that is known for its low account fees, strong deposit rates, and unlimited ATM fee refunds. Combined with a focus on its online and mobile banking technology, Radius is easily one of the best banking options in the country -- competing with traditional banks, online banks, and even online money transfer services like PayPal and Android Pay. Radius Bank’s online checking account is actually a hybrid that provides a high APY on the portion of your balance that exceeds $2,500. The rate easily surpasses the APY provided by traditional interest-bearing checking and savings accounts.
Radius Hybrid is the online bank's most attractive checking account, which is actually a hybrid that provides a high APY on the portion of your balance that exceeds $2,500. The rate easily surpasses the APY provided by traditional interest-bearing checking and savings accounts.
The bank’s policy rewards customers who are able to keep high balances, but they don’t penalize customers who actually use their money. Regardless of the account balance, Radius doesn’t charge a monthly fee for its checking accounts, nor are there transaction fees. (Yes, it also offers a regular, free online checking account.)
Radius Bank not only doesn’t charge an ATM fee, it makes access to any of these ATMs easy by reimbursing any fees charged by the ATM operators. On top of this, the bank is partnered with the NYCE’s Shared Deposit Program, ATM network, which allows customers to deposit can accept cash and checks at non-Radius Bank ATMs across the country deposits.
There aren’t any other online banks that allow instant cash deposits this way, especially not into an interest-bearing checking account. Although cash transactions may not be something that occurs frequently for you, Radius is an attractive option for customers who need the convenience of both online and brick-and-mortar banking.
Although free interest-bearing checking and free ATM access are great features in their own right, there are other banks that offer these services. Where Radius Bank is disrupting the entire banking industry is in being among the FDIC-insured banks that allow instant money transfers to friends.
When transferring funds through a traditional bank, it’s only instant when transferred to an account with the same bank. Transferring funds to a customer of another bank is tedious and one of the slowest-evolving parts of the industry. Radius Bank is FDIC-insured, meaning your money is actually safe when deposited into the bank, unlike balances with third-party money transfer services.
Radius Bank’s Pay a Friend remittance service is absolutely free. Not only is Radius Bank disrupting the banking industry, it’s also disrupting the remittance industry, undercutting the fees charged by Western Union and PayPal for transferring money to friends. Using the Pay a Friend feature of Radius Bank’s mobile app, sending money to a friend is both simple and intuitive. You enter the person’s name, email address or phone number, their debit card or bank account information, and the transfer amount to transfer. The recipient then receives a text or email allowing them to access the funds transferred to a debit card immediately and funds transferred to a checking or savings account within 1-2 business days.
Radius Bank Fees
- National Average
- Monthly Inactivity $5 $6
- Non-Sufficient Fund (Overdraft) $33 $30
- Stop Payment item $25 $27
- Return Deposit $8 $13
- Domestic Wire Transfer (Outbound) $20 $22
- Domestic Wire Transfer (Inbound) $10 $10
- Non-Bank ATM $0.0 $1.0
Latest Customer Reviews
Reviewed By Maxz Nov 26, 2017
Was easy, really easy to start a checking account with only a 10.00 deposit.Thank you for your feedback Is this review helpful?
Reviewed By him Mar 2, 2017
I have had a checking and savings account with Radius for 1.5 years.
They have a good app & website.
They have good customer service during normal business hours.
Checking account with checks.
Great ATM free rebate programs. Very competitive savings rate.
My wife and mother both opened accounts.
No local banks, only in Boston.
App and website could be slightly better. (ie. Simple)
Not a full service national bank with lots of products. (ie. Chase)
4.5 stars.Thank you for your feedback Is this review helpful?
Reviewed By rbsthree Mar 11, 2016
Not one consumer review, until now :-) and its rated A+. As Tom Hanks said in BIG " I don't get it."Thank you for your feedback Is this review helpful?