Do you find yourself transferring money back and forth between your low-interest brick-and-mortar checking account and your high-interest online savings account? It’s understandable.
After all, who doesn’t want to earn the most on their money and still have access to all that online checking accounts have to offer?
But Here’s The Thing:
What if you didn’t have to transfer money and could still get an awesome interest rate? It’s now a reality folks, and it’s called Radius Hybrid – a new all-in-one checking account from Radius Bank.
Let’s take a closer look.
Table of Contents
Maximize Earnings Without Transfers
You’ll be hard-pressed to find even a couple of saving accounts that offer such a generous amount of interest: up to 1.00% APY. And keep in mind, this is a checking account – most checking accounts don’t come anywhere near this amount of interest.
You’ll need to have at least $2,500 in the account to earn the most interest, but if you’re budgeting and saving as you should, you’ll probably have enough to make this work.
Protect Your Money
Radius Hybrid accounts are FDIC-insured which means your money is insured up to at least $250,000. Why would you need a savings account if your money is protected in a high-interest checking account?
I can’t think of a better way to protect your money than to have your money in an FDIC-insured account like Radius Hybrid.
All-in-One Features
Radius Hybrid comes with many of the features you’d expect from a checking account and more.
You’ll get a debit card, online banking, and mobile banking. These are the essentials.
When it comes to moving money, you’re covered. There are free internal and external transfers (just in case you need them). You can deposit your paycheck right into the account and also complete mobile check deposits via mobile banking.
You can even make fee-free deposits and balance inquiries at ATMs displaying the NYCE® Shared Deposit Program logo. Finally, you can get unlimited deposits via postage-paid Bank by Mail envelopes.
Need to make a withdrawal? Yep, you can do that too. You’ll get unlimited, fee-free withdrawals at all Radius Bank ATMs and Banking Center locations.
You’ll also get unlimited surcharge-free withdrawals at ATMs displaying the SUM(SM) Program logo. Travel? All foreign ATM fees will be rebated each month!
There are a variety of ways to make purchases with your Radius Hybrid account. First, you can pay bills and people using bill pay through your online banking account. You can also pay with your phone and their free Radius Pay app linked to your Radius Debit Card.
Finally (and probably most importantly), you can make signature and PIN-based purchases in stores and online with your Radius Debit Card.
You can also stop payments, make wire transfers, and have overdraft protection. You’ll get all the handy bells and whistles.
By the way, there are no monthly fees. Many accounts of this caliber have them, so this is a nice perk. And your first order of checks? Free.
Radius Bank has truly created a well-rounded checking account with just about everything anyone would want from their bank. Two thumbs up from me.
How to Open an Account
Opening an account is super simple.
First, read all about what Radius Hybrid has to offer. You can use their Radius Hybrid Calculator to determine how much interest you’ll earn over the period of 12 months.
You can apply from your phone or tablet by just taking a picture of your Driver’s License and they’ll pre-fill your contact information for you. Pretty easy.
There’s only a $10 minimum balance to open an account. With such a low minimum and no ongoing monthly maintenance charges, anyone can afford to start an account.
Key Features of Radius Hybrid Checking Account
| Feature | Description |
|---|---|
| Maximize Earnings | Up to 1.00% APY on Checking, No Need for Transfers, $2,500 Minimum |
| Protect Your Money | FDIC-Insured Up to $250,000, No Separate Savings Needed |
| All-in-One Features | Debit Card, Online/Mobile Banking, Free Transfers, No Fees, and More |
| How to Open an Account | Easy Application, $10 Minimum Balance, No Ongoing Charges |
Final Thoughts
Radius Bank’s tagline is “Built Around You.” I think they’ve proven themselves worthy of such a tagline because it’s true.
Remember a few years ago when banks wanted to charge you fees just for using your debit card? Ridiculous. It’s time that banks start treating customers with respect and creating accounts without frustrating fees.
When you sign up for a bank account, you’re adding your money to a pool of capital that you can use to make loans or participate in other investments. In return, you should have easy access to cash, all-in-one features, a great interest rate, and easy-to-use banking tools.
Radius Bank’s new Radius Hybrid account delivers that and more.
I like your stuff Jeff, but I had to respond to your enthusiasm over this “exciting” checking account. This isn’t new, earth shattering or even financially beneficial to the consumer. This is just another marketing ploy by a bank to get deposits. Do you know why they require a $2500 minimum? For those of you who don’t know, as expressed to me by many bankers…the guys behind the green curtain behind the tellers…they are nothing more than a hedge fund. They take our deposits and play the market everyday. Why do they want a $2500 minimum…more money for them to play with and make more money. 1% APY is generous? That’s $25 interest for the year and then you’ll be taxed on the $25…your net yield is less than 1%. These offers are a joke when you read between the lines. You’d be better off applying that $2500 against debt to create a tax-free interest SAVINGS environment. 100% yield at whatever rate the debt is being charged…PLUS the interest savings is directly applied towards the debt balance hence creating a debt acceleration strategy. If consumers knew how to play the Hedge Fund game against their debt the financial landscape of this country would be forever changed. See you at FinCon