Radius Bank Reviews

Radius Bank
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About Radius Bank

Looking for a new way to do your online and mobile banking? Radius Bank may be your answer. This Boston-based company offers people around the country accessible account options and some unique ways to stash your cash.

What is Radius Bank?

Radius Bank is located in Boston and has just one brick-and-mortar location there. However, it offers exceptional mobile and online banking services to people from all around the country. With Radius Bank, you can make mobile check deposit and receive liberal ATM fee reimbursements.

Radius Bank offers several features to consumers who are shopping for a new banking system. For example, the Radius Hybrid Checking account has no monthly fee and there is no minimum balance needed after you deposit $100 to open an account. Plus, if your balance hits $2,500, an annual interest percentage of 1% will kick in to help you yield more from the money you have.

Radius is part of a network of hundreds of SUM- and MoneyPass-branded ATMs all over the counter - plus, you don’t get fees for using non-network ATMs. If you are charged a fee by a non-network ATM, you can get a monthly refund - yes, that’s even if you need to withdraw cash abroad, too! 


These accounts are cheap to maintain. All high-yield savings accounts, hybrid checking accounts, and business checking accounts require $100 to open - and there are no monthly fees. Plus, if you open a high-yield savings account, you can get an interest rate of 2.05% - and 1.5% o balances over $2,500.

Want a certificate of deposit? You can get one at just $500 for terms that area year or longer, or $1,000 for terms shorter than a year. The rates are flexible, with options ranging from 1.85 to 2.20% on 3- and 5-year CDs, respectively.

You can even make payments with your phone by using Radius Bank. No need to tow a wallet with you - you can add your Radius debit card to Apple, Google, or Samsung Pay and leave your wallet at home. Depending on the type of account you have, there is generally an atm limit that ranges between $500 and $2000.

How to Open a Radius Bank Account?

Applying to open a Radius Bank account is simply. To get started, all you need to do is first decide what kind of account you want. The bank offers a range of checking options, including Hybrid Checking Accounts, Rewards Checking Accounts, Superhero Checking Accounts, and Essential Checking Accounts. When it comes to savings accounts, the bank offers Radius-High Yield Savings Accounts and Certificates of Deposits.

For all of these accounts, you will get access to online and mobile banking, mobile payments, mobile wallets, the mobile app, the card app, and a unique finance tool set to help you understand your financial standing. The bank even offers credit cards, personal loans, mortgages, and yacht loans.

Opening an account takes less than three minutes. Once you’ve decided what kind of account works best for you, you can begin the process. You will need to provide some basic information, along with your identity and source of funding. Then you can submit your application and wait for approval!

To open an account, you should be a legal permanent resident or citizen of the United States. You must be at least 18 years old with a valid Social Security Number and US street address. You also need a current checking or savings account or debit card to initially fund your account. You will get an email once your application is approved.

Competitors and Alternatives

For those of us who don’t really care about the up-close-and-personal experience of in-person banking, there are many options available to help us get the job done. From Radius Bank to Ally Bank and everything in between, you won’t find a shortage of options when you start searching for the best online bank.

Like Radius Bank, Ally Bank doesn't charge a monthly fee to maintain an account> When you are comparing Radius vs. Ally Bank, that’s an important thing to note. Both banks also offer apps for iOS and Android, but Radius charges a substantially more expensive overdraft fee. Ally also has 24/7 customer service. That being said, Radius Bank offers superior interest rates on most checking and savings accounts.

Online Customer Reviews/Complaints

Radius Bank has positive customer reviews. Despite the $2,500 minimum balance needed to earn high rates on checking and savings account, this company offers these accounts at no cost to you. In other words, you don’t need to pay just to open a savings or checking account. Plus, with unlimited ATM fee reimbursements, you don’t have to worry about the fact that Radius Bank doesn’t have a physical branch near you. You can still access your cash - without worrying about the fees - whenever you want.

Unfortunately, one of the biggest complaints is that the bank has an extended overdraft fee of $5 per day - this is relatively high and more expensive than what is charged by other comparable banks.

Customer Service

Customer service at Radius Bank is incredibly responsive. The bank offers online chat support,a weekday and weekend phone line, and even Twitter support. Depositing cash is incredibly easy because you can do so at any ATM in the network. The company even has Android and iOS apps to help you deposit and view your money, making this one of the easiest banks to partner with.

Need to close an account? Not a problem. To close your account, activate a debit card, or report a lost or stolen card, all you need to do is contact customer support during their business hours, which are available seven days a week.

Where Can I Sign Up for a Radius Bank Account?

Simply log on to the Radius Bank website and you can select from one of their many accounts there. The application process is quick and seamless.

Is Radius Bank Worth It?

If you love the convenience of online banking, i should give Radius Bank a try. The bank offers some of the highest rates on savings, checking, and certificates of deposit accounts - take advantage of these high rates and stretch your dollar even further by opening an account today. Radius Bank is an excellent choice if you're hoping to bank online without fees and to enjoy excellent rates.


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