Beam Account

Beam Account Review

Beam Account is offered by Beam, a financial services company founded in 2017 and based in San Francisco, CA. Beam Account is available in 50 states (and Washington, DC).

Key Takeaways

• Very high APY. This account offers an annual percentage yield of up to 4%, which is much higher than the average interest rate for a savings account.
• $0 monthly fee. This account does not charge a monthly Service Charge.
• Small minimum initial deposit. You only need $1 to open an account.

Beam savings account Pros & Cons

Beam savings account FAQ

Are savings accounts from Beam federally insured?

Yes, this account is insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does Beam offer a signup bonus?

Beam savings account doesn't offer a signup bonus.

What is the minimum initial deposit for Beam savings account?

What APY does Beam offer?

Beam savings account offers an APY starting at 0.5% and ranging up to 4% (APY stands for annual percentage yield, rates may change).

What fees does Beam savings account charge?

Beam savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

What features and perks does Beam savings account offer?

This savings account includes the following features:

• Mobile Banking Services - Beam savings account allows you to manage your money online or with a mobile app.

Can you set up a direct deposit to Beam savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for Beam savings account?

The customer support email for Beam savings account is info@beamsolutions.com.

How do people rate the customer service and user experience of Beam savings account?

Overall, Beam savings account is strongly not recommended based on community reviews that rate customer service and user experience.