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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

Monthly fee

1.2%

APY

$100

Minimum deposit to open

Details

APY1.20% on balances of $100,000+
1.00% on balances of $2,500 to $99,999.99
Monthly fee$0
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 1% interest on balances from $2,500 to $99,999.99 and 1.2% 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
HSBC Premier Checking
$1
Free to use at all ATMs in the US
$0
Get up to $700 (max. $120 per month) for eligible new customers who open an HSBC Premier checking account. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
TD Beyond Checking
$0
1,900 ATMs across the country and Canada
$0
A checking account that offers interest plus three ways to waive the monthly fee, two overdraft paybacks a year and no ATM fees with a $2,500 balance.
Axos Bank Rewards Checking
$50
ATM fees reimbursed at any ATM nationwide
$0
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
HSBC Advance Checking
$0
Surcharge-free HSBC ATMs nationally and internationally, plus up to four rebates a month for using non-HSBC ATMs in all US states except New York
Get up to $270 (max. $50 per month) for eligible new customers who open an HSBC Advance checking account. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
TD Convenience Checking℠
$0
1,900 ATMs across the country and Canada
$3
Offering digital wallet compatibility, free Zelle transfers, TD rate discounts and no fees for students and young adults age 17 to 23. But the $15 monthly maintenance fee could chip at your funds.
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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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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