Anyone heard of Beam?


#1

Anyone heard of Beam? 2-4% APY savings account with no fees?

Just stumbled upon them, but full disclosure signing up through the link for their updates will move me up the wait list to get in… then I can tell everyone all about it!

I can’t tell if they’re legit or not. They say FDIC insured but their language about what type of account it is sounds a little too good to be true.


#2

Looks interesting. It is FDIC insured. Weird way to roll out a savings account but maybe they are onto something.
They could be a bait and switch where they get your email and then try to sell a lot of other products but other than that, I don’t see the harm in learning more.


#3

Goldman Sachs has one for 1% online (they bought GE capital) but I was so annoyed with how they behaved during the crisis (selling investments they were simultaneously shorting) I can do it. This snifs of too good to be true but perhaps it’s legit.


#4

I use synchrony right now with a 1.15% and I’m pretty happy with that. I’ll probably do what I usually do, and let other people try the new stuff first and see what happens before putting any money into it.


#5

I figured I would try with a small amount. So i gave them an email address. If it ends up being advertisments oh well.


#6

Does anyone know of any other high interest accounts other than Beam that pays really high interest? I’ve signed up for their waitlist but comparing with what else is other there. Has anyone heard of Kasasa?


#7

I also use Synchrony, and, like you, will take a wait and see attitude before switching to something that seems questionable.