Beam


Overview / Commentary
650-550-0028
1540 Market St, Suite 100
San Francisco, CA 94102

Related Posts

Update On Beam, The Beleaguered Fintech - 11/7/2020

This article was posted at website americanbanker.com on Monday. Beam is now claiming that the delay on withdrawing funds was caused by some of its customers that committed ACH fraud! I have no idea how this could be, because as I understand it, Beam gives you an account number, but no routing number is involved, since Beam serves as the middleman between its customers and its partner banks. Beam's website continues to state that your money is FDIC insured and that withdrawals take 3-5 business days. https://meetbeam.com/ BEAM FINANCIAL VANISHING ACT A CAUTIONARY TALE FOR PARTNERS Beam Financial, which launched a consumer banking app in September 2019, had a familiar pitch: It would give consumers a better deal than banks do. "Beam’s vision is to make high-interest bank accounts accessible to all Americans, regardless of wealth status, account balance, or whether they would be eligible for cross-selling of other financial products,” the San Francisco company said in a July 2020 pet

Beam Money Withdrawal Problems Highlight Risk of Banking at Fintechs - 10/29/2020

The fintech known as Beam has made news due to many of its banking customers reporting that they have been unable to withdraw their money for months.

You’Re Off The Waitlist! Earn 1.50—7.0% APY - 12/11/2019

I don't recall signing up. But here is the email. Dear Fellow Beam-Liever, The. Wait. Is. Over. Download Beam open beta for FREE now and start earning 1.50—7.0% APY, all funds FDIC-insured. Takes just 1 minute (really easy) to start, and you do NOT need to switch banks to use it. No minimum balance, unlimited withdrawals, interest earned daily. On your phone, tap on the icons below to download Beam, and—if you're the diligent type—read on as we walk you through how this Beam open beta works. QUESTIONS? ANSWERED. 1. HOW DOES 1.50—7.0% APY WORK? ? Start with 1.50% minimum rate, already competitive and designed to match the Fed funds rate. ? Instant Interest Boosts = Billies. When you invite friends to subscribe to Beam's no-obligation mailing list (no app download needed!), you're instantly rewarded with short-term interest boosts called "Billies". (Boost rewards are variable. All boosts add up and are capped at 7.0% APY each day. Consider it Beam's version of "loya

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Reviews (6)

Beam Scam Or Ponzy?

Is Beam a ponzy scheme? Should we kiss our money good bye? I have been waiting since early August for my money. No one has been able to withdraw their money,

BEAM BANK APP IS A SCAM

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The dominos have fallen, CEO Aaron Du's true colors are now showing. CNBC report has shown the entire app is a fraud and he is a scammer

https://www.cnbc.com/2020/10/28/beam-promised-higher-interest-rates-now-customers-want-their-money-back.html

Worst Banking Experience I Have Ever Had

Hello-Like many I was lured in by their interest rates and the easy ability to get Billies and boost the rates just by signing up for emails. Well that's garbage, the email-rates only last for a day and then push you back to .02%. But that's nothing compared to withdrawing.



MANY PEOPLE have requested withdrawals OVER ONE MONTH AGO, yet still haven't received their $$. I am one of them Beam has totally stopped responding. . If anyone knows how to file this issue with the FDIC, please post here!

What Has Happened To Beam

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I have money tied up and the App just spins. How do I get my money out.

No reply to my emails. Hope they didn’t run off with my money.

Patrick

Beam Fraud Company

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Beam is fraud company , dont fall into there trap.once they got money u r screed..it taking more then 3 weeks or months.. to get money when u request withdraw money back...you hear all story from them , the other banks not giving money to them so they cant give you....stay away..dont fall into there trap.

A Dumpster Fire

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Beam is trash that has peddled false/misleading promises beginning with their waitlist ads on Facebook.

Once you get off this waitlist that both doesn't move and they lie about how it operates, you get access to a laughably awful banking experience. Their app is broken or programmed by the C team more often than not and their customer service is instructed to lie to your face.

tl;dr Do not waste your time. Assume you're getting the bottom of the APY or a few bps above. You do know you can find savings accounts that offer more than 1.70% APY without deposit limits and stupid games on this very site right?



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Beam Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%-$400Trial Account
Locations

Beam is an Internet only bank and does not have branch locations. Its headquarters is located at 1540 Market St, Suite 100 - San Francisco, CA 94102

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