Radius Bank


I Love My Rewards Checking Account

I have been a Radius Bank customer for about 6 months now and I love them! I opened a Rewards Checking account after hearing about them from a friend. Although I have a few checking accounts, Rewards Checking has become my primary one since I get cash back on almost all my purchases. I haven’t had any problems with my account and their mobile app is very easy to use and helps me manage my money. I would recommend this bank to any one. Overall I am very impressed.

Decent Savings Rates For $25K+ And Good Service

Posted by: |

I've been a customer for a couple of years and have been happy with their service. If you have a balance over $25,000, the rates are competitive. However today, 11/5/19, the top rate was decreased to 1.65% APY. So, it was a good run but I'll be moving my money to a higher paying account. Hopefully, rates will go back up soon and I'll return money to my Radius online savings account.

Very Disappointing

I wanted to move my account from WF to more modern bank that recognizes the changes to customer experience brought by ecommerce. It turns out Radius is not really an internet bank.

Opening an account with them was only thing that was easy. I had to contact them via internal messages to configure the most basic services, like online payments, etc. Each time it took 2-3 bus days to get it done.

The mobile app for depositing checks is very inconsistent. It works one day and doesn't work the next. Internal messaging is the only Customer Support method to get anything done. Phone support is horrible. The agent kept me on hold for 25 minutes, after which I was disconnected. He never called me back even though he took my number.

"Chat" is a fake as you can only get FAQ search. No human ever responded to my inquiries.

Time to move on.

Disappointing

Posted by: |

I just started working for myself. I still work a full time job, but need the extra income and looking to be able to quit my job. All that being said, I need to have ready access to my finds. I read the stipulations on the account before I opened a business account. I received my very first payment from a client last week and did a mobile deposit on 4/27. I knew it was 2 business day hold time, which was fine because I would have access by the time rent is due. WRONG. After half hour + on chat and a phone call to Customer Service yesterday, still nothing was resolved. I emailed info they requested and they did expedite my information to the correct department to release the hold.
(The hold right now is until 5/5!!) Absolutely unacceptable! Even though they marked the request as "urgent ", no one responded and my account still does not show my funds received
I called again this morning, and the lady told me the bank is closed until Monday and the department dealing with the hold is off til then. So, my rent is due today and I needed that money and now I have to get a small loan to pay my rent until I get MY money. I could have deposited into my personal account and had the money on the same day. I am closing this account as soon I get my money. As much as I don't want to use a "standard" bank, I have no choice at this time.

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Health
B+

Data as of Q4 2020

Capitalization grade does not factor in PPP loans and the use of the PPP Liquidity Facility.
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #32551
Year Established1987
Employees174
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.35%
Return on Equity - YTD5.31%
Annual Interest Income$67.9MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$2.38B$1.39B
LoansQ4 2020vs Q4 2019$1.64B$1.07B
DepositsQ4 2020vs Q4 2019$1.73B$1.19B
Equity CapitalQ4 2020vs Q4 2019$133.0MM$122.6MM
Loan Loss AllowanceQ4 2020vs Q4 2019$13.2MM$8.3MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$10.8MM$9.0MM
Real Estate OwnedQ4 2020vs Q4 2019$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Radius Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Radius Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$25k*-High-Yield Savings
OTHER TIERS: 0.05% $10 - $2.5k | 0.15% $2.5k - $25k
0.05%$50-Union Advantage Savings
0.05%$50-Statement Savings

Radius Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$10k*-Retail Money Market
OTHER TIERS: 0.05% $10 - $10k

Radius Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$100k*-Rewards Checking
OTHER TIERS: 0.10% $2.5k - $100k
0.10%$5k-Tailored Checking

Radius Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$1k-3 Month CD
0.10%$1k-6 Month CD
0.10%$1k-9 Month CD
0.10%$500-1 Year CD
0.10%$500-18 Month CD
0.10%$500-2 Year CD
0.10%$500-3 Year CD
0.10%$500-4 Year CD
0.10%$500-5 Year CD
Locations


Radius Bank Locations
First Trade Union Bank1 Harbor StBoston, MA 02210

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