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  Beam Account

Beam Account

in Savings Accounts from Beam · fdic

Unaffiliated

Beam Account

Unaffiliated

in Savings Accounts from Beam · Member FDIC

Net Recommendation Score -100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Rating not yet determined  

0 users recommend
0 users are unsure
3 users don't recommend
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Highlights
Community Rating

Rating not yet determined  

Monthly Fee $0
APY (Annual Percentage Yield) 0.5% - 4%
APY Minimum Balance N/A

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 for a checking 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
Pros Cons
  • Available in all 50 states.
  • High-interest yield.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not offer mobile check deposits.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
Beam savings account FAQ

Are savings accounts from Beam federally insured?

Yes, your Beam savings accounts are 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?

The minimum deposit to open a Beam savings account is $1.
Beam Account Minimums
Description
Minimum Opening Deposit Starting at $1
Minimum Required Balance $1

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.

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About Beam Account

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Opening Deposit Starting at $1
Minimum Required Balance $1
Early Account Closure $0
Monthly Fee $0
Account Features
  • Member FDIC
  • Mobile Banking
  • Interest Bearing Account
  • No Monthly Maintenance Fee
APY (Annual Percentage Yield) 0.5% - 4%

Beam Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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