Atmos Financial, a climate fintech company leveraging bank deposits to finance the clean energy transition, launched a groundbreaking checking account today that empowers customers to use their cash deposits to reverse global warming.
Bank deposits are among the largest source of capital for loans — some $17 trillion in the U.S. alone. Yet most banks — even those pledging to take climate action — do not distinguish whether their loans are worsening the planet’s climate crisis.
Atmos Financial is upending this approach: The digital bank guarantees that all of its customers’ deposits only go toward those projects that are achieving measurable, climate-positive impacts. In short, Atmos Financial is uniquely empowering individuals to take direct, meaningful action on climate change.
Joining Atmos Financial takes less than two minutes. And while climate action is too often associated with sacrifice — or, conversely, high costs — Atmos Financial has purpose-built its products to ensure consumers do well by doing good, from industry-leading savings rates to competitive cash-back offers and its no-minimum checking account.
The full suite of climate-positive financial products, including those available through the Atmos Financial mobile app, includes:
- Atmos savings accounts, offering fee-free banking, industry-leading savings rates up to 0.40% — and as much as 0.51% when making monthly recurring donations to select charities via the Atmos mobile app.
- Atmos debit cards, with up to 5% cash back on purchases from sustainable brands and unlimited fee-free withdrawals at Allpoint ATMs.
- Atmos checking accounts, with no minimum balance requirements, no monthly fees and the ability to link up to three external bank accounts to integrate your new account into your existing personal finance accounts.
“Banks, and the loans they fund with consumers’ deposits, finance our buildings, our cities, our infrastructure — and all of this has a carbon impact. And because banks are the ones who decide who gets funding and who doesn’t, they have among the largest carbon impacts of any sector,” said Atmos co-founder Peter Hellwig. “By launching our checking accounts and debit cards, Atmos is arming millions of Americans with the power to take immediate, direct action on climate change.”
With deposits insured through the FDIC-insured Evolve Bank & Trust, Atmos’ lineup of consumer banking products guarantees that its customers’ deposits are used exclusively to reduce collective emissions by funding clean energy, electrification or regenerative agriculture. Returns from these loans will then be used to offer its above-industry average savings rates — as well as additional cash back on purchases from sustainable brands and a fee-free donation platform to climate-focused nonprofits.
“Every dollar that we divert away from extractive industries like fossil fuels and toward clean energy is critical to achieving our mission of financing the rapid transition to a clean economy for all,” said Atmos co-founder Ravi Mikkelsen.
Atmos is now accepting applications for their checking account, alongside savings and debit products. Sign up for a new, climate-positive checking account in less than two minutes at JoinAtmos.com.
About Atmos Financial
Atmos Financial is a climate fintech bank leveraging deposits to finance the equitable transition to a regenerative economy. Launched in January 2021 in Berkeley, Calif., with a high-yielding, online savings account, Atmos offers FDIC-insured financial products for consumers that exclusively invest in clean energy, regenerative agriculture, and energy transition projects.
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