BOSTON, MA--(Marketwired - Jun 3, 2015) - Radius Bank today introduced Radius Hybrid, a new personal bank account that delivers the conveniences of a no-fee checking account with the potential for high-interest earnings. There is no monthly minimum balance required and any portion of the account balance over $2,500 earns up to 1.00% Annual Percentage Yield (APY). Clients can now maximize interest earnings without having to play the game of transferring money back and forth between checking and savings. Unlike traditional savings and money market accounts that have federally mandated limits of 6 preauthorized withdrawals and transfers per month, Radius Hybrid is a checking account that provides unlimited access to funds.
Radius Hybrid also offers the customer-centric features Radius Bank is known for providing its clients: a debit card with unlimited ATM fee rebates, no monthly fees, and industry-leading virtual banking services, such as intuitive online banking, mobile banking with features that include check deposit, bill pay and external transfers, and Radius Pay, the Bank's mobile payment app powered by LevelUp.
"We are always looking at ways we can provide a simpler banking experience for our clients in response to their ever-changing needs," said Radius Bank President & CEO Michael Butler. "The way we see it, we should make it easy for clients to save for the future while keeping money accessible for day-to-day transactions in an account that lets them bank anytime, anywhere. The new Hybrid checking provides the best of both worlds -- the power of saving and the freedom of spending."
The Radius Hybrid account is the latest in a long line of innovative new products and services the bank has delivered to the market in the past year, including a redesigned, responsive website, an enhanced online and mobile banking experience, mobile account opening, and a student loan rewards pay down program in partnership with SmarterBucks.
Consumers can learn more and quickly open a Radius Hybrid account online at radiusbank.com/hybrid from a computer, tablet or phone.
Annual Percentage Yield (APY) is accurate as of 6/3/2015. Minimum amount to open account is $10.00. Rate tiers are as follows: 0.00% APY applies to all balances from $0.00 to $2,499.99 and for balances of $2,500.00 and over, the APY would range from 0.00%-1.00% APY. Accounts will earn the stated APY only for the portion of the balance within the specified tier. The higher the dollar amount in the account (over $2,499.99), the higher the APY (up to 1.00%) will be earned on the account. Rates may change after account is opened. Fees may reduce earnings.
About Radius Bank
With assets of more than $722 million, Radius Bank is a community bank offering a full complement of business and personal products and services. The Bank serves consumers, small and middle market businesses, unions, and government entities as its core clients. The Bank offers anytime/anywhere banking via mobile device, 24-hour ATM service, and remote deposit capture, provides additional services such as treasury management capabilities, and partners with organizations including mobile payments leader LevelUp and student loan debt reduction company SmarterBucks. Clients can readily access traditional, personalized branch banking at banking centers located in Massachusetts and New York. Radius Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, visit the Bank's website at www.radiusbank.com.