BOSTON, September 19, 2018 /PRNewswire-PRWeb/ -- Radius Bank, an industry-leading national virtual bank, today announced its partnership with the MoneyPass network. This addition vastly expands Radius Bank's clients' access to fee-free ATM withdrawals nationwide and increases their ability to deposit cash and checks into their accounts by over 30%.
Founded in 2003, MoneyPass is an interbank network that provides surcharge-free ATM transactions. Since its launch, MoneyPass has served the growing population of banking millennials, 46% of whom over the last two years moved their checking accounts to other institutions for access to surcharge-free ATMs, according to survey results performed by Phoenix Synergisitics. In response to this greater trend, and to continue its service of providing over 8 years of unlimited ATM rebates to clients since 2010, Radius Bank's affiliation with MoneyPass was a natural fit.
"For us it is all about making our clients' lives easier, and one of the ways we continue to do that is through technology partnerships like this with MoneyPass," said Chris Tremont, Radius Bank's Executive Vice President of Virtual Banking. "We have long been believers that our clients should not have to pay a fee to access their own money and are always looking for ways to make it more convenient for them to get money into their accounts. We're excited to have launched this new benefit."
With this partnership, Radius Bank personal and business Checking and Savings account clients will enjoy:
- 32,000+ additional surcharge free withdrawal ATMs for Radius Customers
- 3,000+ additional deposit-taking ATMs
- Easily searchable ATM Locator to locate your nearest MoneyPass ATM
In addition to MoneyPass, the Bank is also a part of NYCE Networks, resulting in 500,000 total free ATMs and 10,000 deposit-taking ATMs between both networks. Given the national average cost per month of out-of-network ATM fees reported by CNBC, this saves Radius checking and savings owners an average of $337 a year.
To learn more, apply for a checking account, and/or begin utilizing your new ATM benefits, visit http://www.radiusbank.com.
About Radius Bank
With assets of approximately $1.2 billion, Radius Bank is a forward-thinking community bank offering a full complement of leading-edge personal and business products and services. The Bank serves consumers, small and middle market businesses, unions, government entities and non-profit organizations as its core clients. The Bank's award-winning virtual banking platform allows clients to bank from anywhere with a computer or mobile device. Convenient features like check deposit, bill pay, person-to-person (P2P) payments and card management are all available to personal clients, with advanced treasury management and loan payments solutions available for business clients. Radius also partners with innovative fintech companies including mobile payments leader LevelUp, and online marketplace lender Prosper to provide additional valuable services to its client base. 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 http://www.radiusbank.com, or follow the Bank on Twitter, LinkedIn, Facebook, and Instagram.
SOURCE Radius Bank
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