I get asked all the time for online checking and savings account recommendations and Radius Bank offers one of the best I’ve found. Radius Hybrid is a free high-interest checking account that combines the high-interest earning of savings with the flexibility of a checking account and is FDIC insured.
I’ve never reviewed an online checking account on Millennial Money before, and when the Radius team reached out I was skeptical, but glad that I discovered their high interest checking account.
For full disclosure I am getting compensated for this review but wouldn’t have accepted the opportunity without first checking out and vetting Radius Bank. While there are some online savings accounts that offer a higher rate of return than Radius, I’ve never seen a checking account with as high a return that offers all of the great features of Radius Bank. It’s definitely worth checking out.
Here are some of the benefits of their High Interest Checking Account that will help you make more money on the money you keep in your checking account.
A Return 17x the National Average
Most checking accounts offer close to a 0% return, but Radius Bank’s high interest checking account functions more like a savings account and offers a 0.85% APY, which is 17x the national average. This return never expires and there are no caps on the amount of money you have saved that can get this return. Many banks will change their rates after an introductory period or limit the amount of money that can get the interest rate. Not Radius Bank.
It’s Completely Free
Yes, there are no account fees ever for anything. Many bank accounts have hidden fees, but not Radius, who offer the checking account completely free with only a $100 opening balance. You also get access to a ton of free ATMs around the world. I don’t know about you but over the years I’ve lost a lot of money to stupid bank and ATM fees, so it’s refreshing that Radius Bank truly lets you bank for free, which means less worry and more money in your pocket.
It’s Completely Online and Mobile
Another great feature of this high yield checking account is that you can do everything online or in the Radius Mobile app. You can deposit checks, set up direct deposits, pay your friends or family easily on your phone, use your favorite mobile wallet, track your net-worth and link external accounts, create a budget, and protect your account. The Radius Bank mobile app is one of the best mobile banking apps I’ve used – it’s so simple and has a ton of great features.
You can also download the Radius Card app so that you can remotely disable your Radius Bank debit card from the mobile app if you lose it or it gets stolen. Over the past few years I’ve had my wallet stolen twice and would have loved a simple feature like this to cancel my cards.
Too many people leave their money on the sidelines in a checking or savings account that generates a terrible investment return. Don’t be one of them. Here’s a summary of the Radius Bank High Yield Checking Features:
- Earns 0.85% APY on balances over $2,500
- Free ATMs Worldwide
- No monthly maintenance fees
- No minimum balance requirements
- Free Online & Mobile Banking with:
- Mobile Check Deposit
- Personal Financial Management tools
- P2P payments
- Use with Mobile Wallets
Check out Radius Bank if you are looking for a completely free online high interest checking account with awesome features. You can open an account in less than 5 minutes.