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finder.com’s rating: 3.3 / 5.0
★★★★★
The Radius Bank Tailored Checking account is designed for small businesses. It offers interest, unlimited transactions with no penalties and no maintenance fee as long as you keep $5,000 in the account. But the account is online-only, so it’s not ideal for some business owners.
$10 per month
Fee
0.10%
APY
$100
Minimum deposit to open
APY | 0.10% on balances of $5,000+ |
---|---|
Fee | $10 per month |
To waive the fee | No monthly maintenance fee with balances of $5,000 and up |
Minimum deposit to open | $100 |
ATMs | More than 325,000 ATMs + unlimited ATM surcharge rebates |
ATM transaction fee | $0 |
ATM fee rebates | Unlimited automatic ATM surcharge rebates for ATM fees other banks charge you |
Out-of-network ATM fee | $0 |
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.
The Radius Bank Tailored Checking account is best for small businesses looking for an interest-bearing checking account. The account offers 0.1% APY on balances above $5,000 and unlimited free transactions.
But if you’re not in the Boston area, expect to do all of your banking online or over the phone.
Follow the steps below to open your account online:
You must meet the following requirements to sign up for a Tailored Checking account:
When you’re ready to open your account, have the following business information ready:
Gather the following information for every person who owns 25% or more of your company:
In addition to its mobile app, the Tailored Checking account offers:
Before you apply for an account with Radius Bank, keep the following in mind:
If you want a business checking account with more branches, you’ll want to keep looking. As always, compare your options when considering a checking account.
Radius Bank ATMs are limited to the Boston area. But its relationship with NYCE, MoneyPass and SUM networks gives customers access to about 325,000 free ATMs around the US.
Radius offers unlimited reimbursements at the end of the month for any out-of-network ATM fees worldwide. However, it doesn’t cover international exchange fees.
You have several options to deposit and withdraw your money with Radius Bank:
Tailored Checking is currently the only business account offered by Radius, but the following personal checking options are available:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.