BERKELEY, Calif.–(BUSINESS WIRE)–Atmos Monetary, a local weather fintech firm leveraging financial institution deposits to finance the clear power transition, launched a groundbreaking checking account in the present day that empowers clients to make use of their money deposits to reverse world warming.
Financial institution deposits are among the many largest supply of capital for loans — some $17 trillion within the U.S. alone. But most banks — even these pledging to take local weather motion — don’t distinguish whether or not their loans are worsening the planet’s local weather disaster.
Atmos Monetary is upending this method: The digital financial institution ensures that each one of its clients’ deposits solely go towards these initiatives which are reaching measurable, climate-positive impacts. In brief, Atmos Monetary is uniquely empowering people to take direct, significant motion on local weather change.
Becoming a member of Atmos Monetary takes lower than two minutes. And whereas local weather motion is just too typically related to sacrifice — or, conversely, excessive prices — Atmos Monetary has purpose-built its merchandise to make sure shoppers do nicely by doing good, from industry-leading financial savings charges to aggressive cash-back presents and its no-minimum checking account.
The complete suite of climate-positive monetary merchandise, together with these obtainable by way of the Atmos Monetary cellular app, contains:
- Atmos financial savings accounts, providing fee-free banking, industry-leading financial savings charges as much as 0.40% — and as a lot as 0.51% when making month-to-month recurring donations to pick charities through the Atmos cellular app.
- Atmos debit playing cards, with as much as 5% money again on purchases from sustainable manufacturers and limitless fee-free withdrawals at Allpoint ATMs.
- Atmos checking accounts, with no minimal steadiness necessities, no month-to-month charges and the flexibility to hyperlink as much as three exterior financial institution accounts to combine your new account into your present private finance accounts.
“Banks, and the loans they fund with shoppers’ deposits, finance our buildings, our cities, our infrastructure — and all of this has a carbon affect. And since banks are those who determine who will get funding and who doesn’t, they’ve among the many largest carbon impacts of any sector,” mentioned Atmos co-founder Peter Hellwig. “By launching our checking accounts and debit playing cards, Atmos is arming hundreds of thousands of People with the ability to take rapid, direct motion on local weather change.”
With deposits insured by way of the FDIC-insured Evolve Financial institution & Belief, Atmos’ lineup of client banking merchandise ensures that its clients’ deposits are used solely to cut back collective emissions by funding clear power, electrification or regenerative agriculture. Returns from these loans will then be used to supply its above-industry common financial savings charges — in addition to extra money again on purchases from sustainable manufacturers and a fee-free donation platform to climate-focused nonprofits.
“Each greenback that we divert away from extractive industries like fossil fuels and towards clear power is vital to reaching our mission of financing the fast transition to a clear economic system for all,” mentioned Atmos co-founder Ravi Mikkelsen.
Atmos is now accepting functions for his or her checking account, alongside financial savings and debit merchandise. Join a brand new, climate-positive checking account in lower than two minutes at JoinAtmos.com.
About Atmos Monetary
Atmos Monetary is a local weather fintech financial institution leveraging deposits to finance the equitable transition to a regenerative economic system. Launched in January 2021 in Berkeley, Calif., with a high-yielding, on-line financial savings account, Atmos presents FDIC-insured monetary merchandise for shoppers that solely spend money on clear power, regenerative agriculture, and power transition initiatives.