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Radius Bank Rewards Checking review

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Earn interest and cashback rewards with this online-only checking account.

The Radius Bank Rewards Checking account gives you the opportunity to earn cashback on everyday purchases and interest on balances. The account also offers tools to help you keep your budget and financial growth on track. But you’ll need to meet monthly income qualifications or keep an average monthly balance to earn rewards.

$0 per month

Fee

Up to 0.15%

APY

$100

Minimum deposit to open

Details

APY0.15% on balances of $100,000+
0.10% on balances of $2,500 to $99,999.99
Fee$0 per month
Minimum deposit to open$100
ATMsMore than 20,000 ATMs + unlimited ATM surcharge rebates
ATM transaction fee$0
ATM fee rebatesUnlimited automatic ATM surcharge rebates for ATM fees other banks charge you
Out-of-network ATM fee$0
Overdraft fee$25

Expert review

Heather Petty

Review by


Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.

Expert review

If you meet the income qualifications and are comfortable with online-only checking, the Radius Bank Rewards Checking account can be a great way to earn money on the purchases you’d make anyway.

What are the benefits of a Radius Bank Rewards Checking account?

In addition to its online and mobile banking access, you’ll receive your first check order for free and the following perks:

  • Cashback on debit card purchases. Receive 1% cashback on all online or signature-based debit card transactions.
  • Interest bearing. Earn 0.1% interest on balances from $2,500 to $99,999.99 and 0.15% on balances over $100,000.
  • No hidden fees. You won’t pay ATM, monthly service or minimum balance fees.
  • Early direct deposit. If you sign up for direct deposit, you’ll get your paycheck as soon as your employer submits payroll.
  • Financial management tools. Set a budget and track your spending, debts and net worth through the mobile app’s financial dashboard.

What should I look out for?

The Radius Bank Rewards Checking account comes with several benefits, but it also has its drawbacks:

  • Limited branches. Radius only has one branch office in Boston, so anyone outside the area relies on its online banking options.
  • Cashback qualification. You must either maintain a $2,500 average balance in the account or receive a total monthly deposit of $2,500 to qualify for cashback rewards.
  • Overdraft fees. You’ll pay $25 and $5 for every day you are overdraft after the first five days.

If you’re interested in a more personal banking experience, compare your options using our checking account finder.

Radius Rewards Checking ATM network and fees

Radius Bank ATMs are limited to the Boston Area. But its relationship with NYCE, MoneyPass and SUM networks gets customers access to about 325,000 ATM around the US for no fees.

If you use any ATMs out of its network, it offers unlimited reimbursements at the end of the month for any fees worldwide. However, it doesn’t cover international exchange fees.

Compare with other checking accounts

Name Product Minimum deposit to open ATMs Out-of-network ATM fee
BBVA Online Checking
$25
No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
$3
A full-service account with convenient, surcharge-free access to two massive ATM networks, plus a $200 signup bonus when you meet deposit requirements
Citibank® Account Package
Citibank® Account Package
$0
No access to ATMs
$2.50
Earn a $400 bonus after opening new eligible checking and savings accounts and completing required activities.
Aspiration Spend & Save Account
$10
55,000 free in-network ATMs
$0
A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
NorthOne Business Banking
$50
More than 300,000 ATMs across America.

$0
A digital bank account featuring free cash deposits, on-demand customer support and streamlined bookkeeping integrations.
BBVA Free Checking
$25
1,000 fee-free ATMs across the country
$3
Pay a $0 monthly service charge and get free access to BBVA ATMs.
Chase Total Checking
$0
Access to 16,000 ATMs and nearly 4,900 branches nationwide
$2.50
Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 4,900 branches. Available online nationwide except in Alaska, Hawaii and Puerto Rico.
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Compare up to 4 providers

How do I open a Radius Rewards Checking account?

  1. Enter your name, email and phone number, then click Continue.
  2. Enter your address. Click Continue.
  3. Enter your birth date, Social Security number and any special promotional code. Then create a security phrase and confirm you’re a US citizen or resident.
  4. Select your bank and then sign in so that you can transfer at least $100 into your new Radius account. Or use your debit card to transfer funds.
  5. Submit your information to open the account.

Eligibility

You must meet the following requirements to open a Radius Bank Rewards Checking account:

  • At least 18 years old
  • Valid Social Security number
  • Valid bank account
  • US citizen or resident

Required information

When you’re ready to apply, have the following information on hand:

  • Full name
  • Email address
  • Phone number
  • Residential and mailing addresses
  • Date of birth
  • Social Security number
  • Bank information or debit card to fund the account

How do I deposit or withdraw my money?

Deposits

  • Mobile check deposit
  • Direct deposit
  • Transfer from another bank account
  • Wire transfer
  • By cash or check at an ATM

Withdrawals

  • ATMs
  • Check addressed to yourself
  • Transfers to other bank accounts
  • Mobile wallet
  • Mobile bill pay
  • Mobile payments to individuals
  • Wire transfer

What other checking options does Radius offer?

In addition to the Rewards Checking account, Radius offers the following checking options:

  • Superhero Checking. Earn 0.5% APY on balances of $2,500 or more and donate 1% of your total debit card purchases to the March of Dimes each month.
  • Essential Checking. A second-chance account with built-in deposit and spending limits to help you rebuild your financial record.
  • Tailored Checking. A small business account that offers 0.75% APY and unlimited transactions.

Frequently asked questions

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