Radius Bank Partners with Professional Administrator Ametros to Offer Checking and Savings Accounts
BOSTON – October 29, 2019 – Radius Bank, a forward-thinking digital bank, today announced their partnership with Ametros, the current leader in personal injury settlement solutions and post-settlement administration services. Through partnership with Radius, Ametros members can now have non-medical settlement funds automatically deposited into a white-labeled Ametros Checking or Savings account for easy account management.
Founded in 2010, Ametros provides individuals that settle their personal injury case with medical management services, medical and pharmacy discounts along with automated payment technology and Medicare reporting tools. Radius partnered with the settlement solutions company to power Ametros Banking, as they saw a strong cultural alignment between the two organizations, with both focused on transforming customer experiences by developing products for targeted client segments.
Ametros Banking is now available to Ametros members nationwide and offers the following benefits upon account approval:
- Earn 0.10% APY on the entire balance1
- No monthly service fees or minimum balance requirements
- FDIC insurance
- Debit card to make purchases, access ATMs, and use mobile wallets
- Free ATMs worldwide and unlimited ATM fee rebates2
- First order of checks is free
- Eligible for early direct deposit where available3
Members may manage the funds they receive from their settlement through the Radius Bank online banking platform or through the Radius mobile app where they can also use the Radius personal financial management tools to create a budget, track their spending, use mobile check deposit, and pay bills online.
“We are inspired by Ametros’ mission to help people save money on their ongoing medical expenses, and we are excited to work with them to power Ametros Banking to help clients maximize the value of all of their settlement funds,” said Radius Bank Vice President of Strategic Partnerships and Technology, Huma Usmani.
In the near-term, Radius and Ametros also plan to provide Ametros members with the option to open a high-interest savings account to support their long-term financial needs.
“We are excited to announce our partnership with Radius Bank furthering our goal of making life easier after settlement,” says Ametros’ Vice President of Product, Gal Zhovnirovsky. “Our members are now able to access award-winning checking and savings accounts at the time of settlement. Through our partnership, we look forward to providing more innovative solutions for our members.”
To learn more about Ametros, visit https://ametros.com
Ametros Banking marks the seventh strategic partnership announcement for Radius this summer, and their fifteenth in the last four years. To learn more about partnership opportunities at Radius Bank, visit: http://radiusbank.com/company/partnerships/
About Radius Bank
With assets of approximately $1.4 billion, Radius Bank is a forward-thinking digital bank committed to providing a full complement of accounts and services to meet the banking needs of consumers and businesses nationwide. Radius provides the product depth of a national brand, the technology of a fintech, and the personalized attention typically reserved for a local bank to consumers, small and middle market businesses, unions, government entities and non-profit organizations. The Bank’s award-winning digital banking platform allows consumer clients to bank from anywhere with a computer or mobile device and provides convenient features such as check deposit, bill pay, card management, and a personal financial management dashboard. Business clients enjoy a wide array of award-winning deposit products, advanced treasury management services, and loan and payment solutions. In addition, Radius’ suite of open APIs deliver a robust banking-as-a-service (Baas) platform for fintechs to quickly access core banking features and build best-in-class financial solutions. Radius specializes in partnering with forward-thinking fintechs to provide white-label deposit products, cards, digital onboarding, and account management. 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 radiusbank.com, or follow the Bank on Twitter, LinkedIn, Facebook, and Instagram.
Ametros provides settlement solutions for personal injury settlements. Over the past nine years, Ametros has built, from scratch, the nation’s largest technology-enabled administrator in the country. The innovation team at Ametros has had the honor of partnering with almost all the workers compensation industry’s largest payers, vendors and attorneys to find new ways to bring ideas to the claim settlement space.
Headquartered just north of Boston in Wilmington, Massachusetts, Ametros offers injured parties (its “members”) patented medical administration tools and reporting, automated payment technology, and access to significant healthcare discounts for pharmaceuticals, provider visits, and medical equipment, in addition to live phone/email/chat support from its dedicated care advocates teams. Ametros’ core products, CareGuard and Amethyst, enable members to approach settlement with confidence and security. Ametros’ services are frequently useful for settlement recipients needing help administering a Medicare Set-Aside, but can be used to help administer any allocation of self-pay medical funds. Learn more at ametros.com or by calling 877.275.7415.
1 Ametros Banking is a free checking account with no monthly maintenance fee, no minimum balance requirement to open the account, and is FDIC-insured up to the maximum allowed. Annual Percentage Yield (APY) accurate as of 08/27/2019. Minimum amount to open account is $0.00. Rate tiers are as follows: 0.10% APY applies to balances of $0.01 or more. Rates may be subject to change without notice after account is opened. Fees may reduce earnings.
2Get unlimited automatic ATM surcharge rebates for ATM fees other banks charge you. ATM surcharge rebates apply to cash withdrawals from an Ametros Banking account using the Ametros/Radius debit card wherever it is accepted. Radius Bank does not charge a fee for using another bank’s ATM. ATM fees will be rebated at the end of each statement cycle. Excludes international exchange fees. Radius Bank makes its best effort to identify those ATM fees eligible for rebate. In the event that you have not received a rebate for a fee you believe is eligible, please contact Customer Service at 800.242.0272. Radius Bank reserves the right to modify or discontinue the ATM surcharge rebate program at any time.3Direct Deposit and earlier availability of funds is subject to payer’s support of the feature and timing of payer’s funding.