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You might like Atmos Financial if you want to support climate justice and earn a competitive interest rate on a high-yield savings account at the same time — it's one of the best environmentally-friendly banks out there. The Atmos Financial Climate-Positive Savings Account pays 2.40% APY if you make monthly donations of at least $1 to an eco-friendly non-profit organization.
Atmos Financial Review: Overall Rating
| Feature | Personal Finance Insider rating (out of 5) |
| Checking | 4 |
| Savings | 4 |
| Trustworthiness | 3.5 |
| Total | 3.75 |
Atmos Financial Pros and Cons
| Pros | Cons |
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Atmos Financial Cash-Back Checking Review
no monthly service fee
None
None
- No monthly service fees
- No minimum balance requirements
- No overdraft fees
- No out-of-network ATM fees
- Measure the carbon impact of your deposits through Atmos
- Earn up to 5% cashback with debit card purchases at participating sustainable stores; A list of stores is available on the Atmos Financial website
- Round-up debit card purchases and deposit the change into your savings account
- No checkbook
- Can't overdraw from bank account
- Will not reimburse you if you are charged by an out-of-network ATM provider
You might like Atmos Financial if you want to support climate justice and earn a competitive interest rate on a high-yield savings account at the same time — it's one of the best eco banks out there. The Atmos Financial Climate-Positive Savings Account pays 3.50% APY if you make monthly donations of at least $1 to an eco-friendly non-profit organization.
Atmos Financial Cash-Back Checking- Atmos is an eco-friendly online banking platform that has pledged to finance zero fossil fuel companies and projects
- Access to 55,000 ATMs through the Allpoint ATM network
- Earn up to 5% cashback with debit card purchases at participating sustainable stores; Stores are listed on the platform's website
- If you try to overdraw from your checking account, the transaction will be denied
- Funds FDIC insured through Five Star Bank
Atmos Financial Cash-Back Checking may be a good choice if your goal is to avoid common bank charges like monthly service fees or overdraft fees.
It also might stand out to you if you frequently use your debit card. You could earn up to 5% cash back on debit card purchases at select sustainable stores and restaurants.
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Atmos Financial Climate-Positive Savings Account Review
no monthly service fee
1.45% to 2.40%
None
- High interest rate
- No monthly service fees
- No minimum balance requirements
- Measure the carbon impact of your deposits through Atmos
- Create up to six accounts for individual savings goals
- Earn even higher rates with other online banks
You might like Atmos Financial if you want to support climate justice and earn a competitive interest rate on a high-yield savings account at the same time — it's one of the best eco banks out there. The Atmos Financial Climate-Positive Savings Account pays 2.40% APY if you make monthly donations of at least $1 to an eco-friendly non-profit organization.
- Atmos is an eco-friendly online banking platform that has pledged to finance zero fossil fuel companies and projects
- Earn a base rate of 1.45% APY
- Earn 2.40% APY if you choose to make monthly recurring donations to a non-profit organization on the Atmos app
- Interest compounded daily and deposited monthly
- Funds FDIC insured through Five Star Bank
The Atmos Financial Climate-Positive Savings Account is a great high-yield savings account because it doesn't have minimum balance requirements or monthly maintenance fees.
It's also good if you want to earn a competitive interest rate. The Atmos Financial Climate-Positive Savings Account pays 2.40% APY if you choose to make monthly donations of at least $1 to a non-profit organization partnered with Atmos Financial. The best high-yield savings accounts pay more, but this is a good balance between earning a high rate and using an environmentally friendly bank.
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About Atmos Financial
Atmos Financial is an online banking platform focused on climate justice.
The online banking platform currently offers online-only high-yield savings accounts and cash-back checking accounts for individual owners. You may open an Atmos account from anywhere in the U.S., as long as you are at least 18 years old.
The online banking platform doesn't have any physical branches, but customers with a cash-back checking account have free access to over 55,000 ATMs in the Allpoint network.
Customer support is available over the phone or through live chat from 9 a.m. ET to 7 p.m. ET, Monday through Friday.
The Atmos Financial mobile app has 4.2 out of 5 stars in the Apple store and 4.2 out of 5 stars in the Google Play store.
Your deposits are FDIC-insured for up to $250,000 per depositor, per account category through Atmos Financial's partner bank, Five Star Bank.
How Atmos Financial Fights Climate Change
Many big banks invest billions in fossil fuel projects and companies, but Atmos Financial focuses on only lending to climate-positive projects and supporting climate justice.
When you open an Atmos account, Atmos calculates the carbon impact of your account balance, which you can see on the platform's mobile app. You'll also be able to donate to sustainable non-profit organizations through the platform's savings account or get cash-back perks when you use your checking account's debit card at sustainable stores and restaurants.
Atmos Financial has received certifications and designations from the following organizations for its environmental impact:
- 1% for Planet: Companies that join 1% of the Planet have pledged to turn over 1% of annual gross sales to non-profit organizations listed on the global network's website.
- Bank. Green (Fossil Free Certified): To receive a Fossil Free Certification by the volunteer organization Bank. Green, financial institutions must commit to financing zero fossil fuel companies and projects now and in the future.
The banking platform is also a Certified B Corporation. The global non-profit network that issues B Corp Certifications has certified that Atmos meets high standards of social and environmental performance, accountability, and transparency.
Is Atmos Financial Trustworthy?
We include ratings from the Better Business Bureau to evaluate how financial institutions address customer issues and handle transparency. Atmos Financial has a B+ (No Rating) from the BBB because it hasn't been in business for a very long time.
However, its partner bank, Five Star Bank, received an A- rating from the BBB because of a few unresolved customer complaints.
Atmos Financial has been involved in one recent controversy. In January 2024, the FDIC put out a cease and desist letter for Atmos Financial. The cease and desist letter says Atmos Financial made misleading statements about being FDIC-insured. Atmos Financial is not a bank, so it's not itself FDIC-insured. Its partner bank, Five Star Bank, is FDIC-insured.
Atmos Financial FAQs
Atmos Financial is an online banking platform, not a bank. However, it is partnered with a financial institution. Five Star Bank provides banking services.
You may open an Atmos account from anywhere in the U.S. To apply for an account, you must be at least 18 years old and use your social security number.
A socially responsible bank will also often get certification or designations to make sure it meets certain standards or commitments toward social and environmental impact. Atmos Financial is Fossil Free Certified and has joined 1% of the Planet by pledging to turn over 1% of annual gross sales to non-profit organizations.
Atmos Financial bank accounts are FDIC insured through its partner bank, Five Star Bank.
How Atmos Financial Compares
Atmos Financial vs. Amalgamated Bank
Deciding between these two eco-friendly options might ultimately depend on what you're looking for in a bank account.
You'll earn a higher interest rate through the Atmos Financial Climate-Positive Savings Account than the Amalgamated Bank Give-Back Savings Account. Notably, the Atmos Financial Climate-Positive Savings Account pays 2.40% APY if you make monthly donations of $1 or more to a non-profit organization that's partnered with Atmos.
However, if you'd like to have the option to overdraw from your account, you may prefer Amalgamated Bank. Atmos Financial will deny a transaction if you don't have enough money in your account.
Amalgamated Bank checking and savings accounts stand out because Amalgamated gives the equivalent of half the interest you earn to a non-profit organization that it's partnered with.
Atmos Financial vs. Spring Bank
Choosing between Atmos Financial and Spring Bank may depend on where you live.
Atmos Financial is an online-only banking platform. It doesn't have any physical branches. Spring Bank is a local institution with two branches in the New York City area. If you don't live near a branch, you may still open an Spring Bank account online.
You'll also want to look at individual bank accounts to see which ones appeal to you more.
The Spring Bank Savings Account pays a high interest rate as long as you have at least $100 in your account. Meanwhile, the Atmos Financial Climate-Positive Savings Account pays 2.40% APY if you make monthly donations of $1 or more to a participating non-profit organization.
You might lean more toward Spring Bank if you're considering opening a CD. Atmos Financial doesn't offer any; it only offers high-yield savings accounts and checking accounts.
Why You Should Trust Us: How We Rated Atmos Financial
We rated Atmos' accounts and services using Personal Finance Insider's bank account methodology.
We generally look at customer support, mobile apps, miscellaneous features, security, and ethics when reviewing a bank. Then we look at specific factors depending on the type of account. For example, we consider overdraft fees for checking accounts and interest rates for savings accounts.
We rate bank accounts on a scale of one to five stars. We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
