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: transferring money is a pain. I much rather be spending time with family than worrying about my account balances or the interest I'm earning. I'm sure you're in the same boat.
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.
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.
The main benefit to this is that you'll no longer have to transfer money between accounts in order to maximize your earnings. You'll need to have at least $2,500 in the account to earn the most interest, but if you're budgeting and saving like 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.
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.
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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.
When you're ready, sign up. The process goes like this . . . .
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.
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 create accounts without frustrating fees.
When you sign up for a bank account, you're adding your money to a pool of capital that they 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.