Frequently Asked Questions

What do banks have to do with climate change?

Banks have influence over society in many subtle ways, more than many of us realize. Through access to the credit markets, banks and other financial intermediaries have the capacity to bolster or bankrupt individual companies and entire industries. Through low-cost mega loans and other favorable financial products, most of the world’s largest banks directly prop up companies that many of us would never consider supporting on a personal level. And yet we are doing just that, and earning next to nothing on our deposits to boot!

Banks are able to get away with this by downplaying those relationships and business practices and highlighting feel good stories. Think about it:  Do you really know what your bank does with your money? The truth is their widespread support of the world’s biggest social and environmental justice offenders actually far exceeds support for a better tomorrow. How are we as a society supposed to address and improve upon serious systemic issues when institutionalized practices and the flow of capital through the economy are working against those very interests? Without any doubt, the existing banking industry lags behind the evolving values of society and keeps us rooted in the past.

Enter Atmos. Atmos has been created to provide customers direct access to building the tomorrow they want to see. And yes, your money does absolutely make a difference. Atmos will use 100% of its deposits to directly invest in a clean, fair, and transformed economy for all and we’ll show you where every cent goes so you know this isn’t another marketing scheme. Direct climate loans make a measurable difference and anything less than that is not enough. Together we will reach that tipping point and create the change we know is necessary.

What makes Atmos different from other banks?

Atmos is the only banking product in the country (in the world from what we can tell!) that concentrates 100% of its loan portfolio towards climate positive projects. Many banks carve out a small amount for renewable energy, but it’s typically a small fraction of their overall lending portfolio  that also might include fossil fuels, generic non-efficient commercial real estate, fast fashion, factory farming… you get the point. We don’t do any of that. What we do do is make sure your money is working towards creating measurable climate impact and helping all at risk communities.

Are you actually a bank?

Atmos is just getting started, but everything needs a beginning. We are not yet a bank. While we do plan on getting a banking charter, that’s a long and cost-intensive process. We’ll get there. It’s our destiny. In the meantime we have to use a Sponsor Bank in order to effectively provide our customers with typical banking products like FDIC insured savings & checking accounts.

We are a financial technology company that offers climate-positive deposit and loan products. We ask that you bear with us and trust the process. We realize this is a lot to ask given how many times this industry has misled you. Join us on this mission and we won’t let you down.

Are the accounts FDIC insured?

Yes, individual accounts up to $250,000 will be protected with FDIC insurance. Your money is as safe with Atmos as it is with any other banking entity.

What products do you offer?

Account activation isn’t available yet. We’re busy crossing all of our ‘T’s’ and dotting all of our ‘I’s’. Very soon, you’ll be able to open checking and savings accounts. Shortly after that we’ll launch credit cards. Regular progress updates will be sent out to our mailing list to provide detailed information as product launches take place. Climate positive loan products will be available as well and we look forward to sharing that information when the time is right. Please join our mailing list to stay informed!

What interest rates do you offer on deposits?

We will never be the highest yielding bank offering on the market. While we would love to do that as well, we can’t do it all and that would likely require us to sacrifice our mission, which we’re not willing to do. What we will do is offer rates far better than most other banks. We don’t have the overhead of branches or large teams needed to staff them. Interest rates on deposit accounts range from 0% (checking) to 1.00% on high-balance savings accounts. In addition to our standard yields, Carbon Cash™ automatically provides customers additional earnings by providing impact bonuses.

What is Carbon Cash™ and how does it work?

Your daily deposit balance with Atmos has a daily positive environmental effect through the loans we make — the loans you enable. Carbon Cash™ is the name for our bonus earnings program based on that measurable impact. This is in addition to any interest rates we offer, and will be available after we launch our loan program.

We set milestones for Greenhouse Gases (GHGs) avoided and every day your personal account accrues towards those milestones. Your daily account balance directly determines that accrual because more deposits means we’re able to make more climate-positive loans. When you hit the milestone, we reward your impact by paying you a wad of cash. You can let it ride and keep cooling the earth by leaving it in your Atmos account, or you can create some good karma and buy your friend some flowers. It’s your money so do with it what you want.

What do you mean by “measurable impact”?

In order to appeal to consumers like yourselves, thousands of companies and products around the world claim some form of “sustainability”. It has become an extremely confusing product landscape for conscientious customers driven by savvy marketers. 

Atmos is upping its game to bring truth and meaning back to the word and remove any potential for “greenwashing” within the banking sector. Atmos will measure the actual carbon impact of your deposits on a daily basis by measuring the actual carbon impact of our entire loan portfolio on a daily basis. We use objective, third-party measurement techniques that assess the carbon impact of each of our loans so you know that we’re for real. Your deposits enable all of this — we’re just the financial intermediary that makes your direct impact possible. We’re also the first ones committed to this level of transparency and climate impact, which might tell you something about some of the other “green” banking options out there.

Are you a B-Corp?

Not yet, though we love what B-Corps stand for and appreciate the great work they are doing. We have submitted our application and are working to get through the process.

What technology solutions will you have to make your customers’ lives easier?

We want you to know that you’re our number one priority. While we’ve launched Atmos to drive meaningful climate change (the other type of change!), this wouldn’t work if we offered a lesser banking product to our customers. The days of sacrificing convenience for doing the right thing are over.

We’ll offer all of the technology that you’ve come to expect from your digital banking partners and then some. Our technology suite will improve over time as we hire more people and build more products. We’re working on this feverishly. If you have specific ideas or requests, or if something is not working for you, we want to know about it. Please email us at technology@joinatmos.com.