Comments on: BEAM High Interest Banking App Review

By: Darren

Darren — Fri, 13 Jul 2018 01:46:28 +0000

“Meanwhile, while we cannot direct Evolve or Synapse to appropriately cover all Beam-related inquiries through their customer support staffs…”

Says it all. It’s a scam.

By: Ann

Ann — Wed, 11 Jul 2018 11:21:57 +0000

Yes, 2%+ is now available at several banks. Regular banks that aren’t only accessible through an app, even.

By: David @ Zero Day Finance

David @ Zero Day Finance — Thu, 17 May 2018 15:42:46 +0000

I would love to use your services to park my savings, but I just can’t at this point. There isn’t enough of a paper trail to actually verify that you are legitimate. If I were you, I would get Evolve’s and Synapse’s CEO on the phone and get out a statement from them ASAP. Otherwise, your company will not survive.

Unfortunately, with how quickly rates are rising, your 2.00%+ interest rates are quickly becoming noncompetitive. With such poor customer service from the banks holding your funds, I don’t expect your company to last very long unless you are able to have your member banks verify they are holding your users’ deposits, and improve the rates paid out to users as well.

By: Beam Team

Beam Team — Tue, 24 Apr 2018 22:50:56 +0000

We are appreciative of everyone’s interest, questions, and commentaries about Beam. Ty, thank you for a thorough review of the mechanisms of Beam’s limited-feature private beta release.

Per our Terms of Service (http://meetbeam.com/terms), “The bank services are provided by Evolve Bank & Trust, Member FDIC. By opening up a deposit account through the Platform, you agree to the Evolve Bank & Trust Deposit Agreement, Truth in Savings Disclosure and Privacy Policy, and Synapse’s Terms of Service and Privacy Policy.”

In response to the above confusions risen from customer inquiries to Evolve Bank & Trust hotline, we are working with Evolve and Synapse to provide a collective response to clarify how accounts opened through Beam at Evolve Bank & Trust are FDIC-insured.

Meanwhile, while we cannot direct Evolve or Synapse to appropriately cover all Beam-related inquiries through their customer support staffs, our team here at Beam is more than happy to provide any further clarifications regarding this matter. Email us and we’ll be listening: [email protected], or call or leave us a voicemail at our customer hotline at 650-550-0028.

Thanks again for your support and trust in Beam as we grow to evolve our service, and work to change banking for the better.

By: David @ Zero Day Finance

David @ Zero Day Finance — Thu, 12 Apr 2018 03:16:32 +0000

This is really unfortunate. I’ve been unable to verify their FDIC insurance either. I refuse to park my money somewhere if I can’t verify their FDIC status. Since this is the case, no BEAM for me. This doesn’t upset me that much. They took so long to get the ball rolling, that 2% isn’t that great anymore. Sure, it beats what Discover currently pays, but not for long.

By: That Frugal Pharmacist

That Frugal Pharmacist — Tue, 10 Apr 2018 19:05:13 +0000

Well I had a nice well thought out comment.. And my phone freaked out.

I was saying, the 2% sounds nice.

But what the heck is up with Billies? What is BEAM getting by having you sign in daily?

WIth the questions about FDIC, I’d rather stick with a standard high interest online account where you might find 1.5% apy.

At 2% with questionable safety I wouldn’t park enough there for the extra APY to make much difference.

But seriously, what’s up with Billies? I do not like this kind of tactic, even if there’s nothing weird behind it. Why would we want to encourage people to login and obsess even more? That is the opposite of conventional knowledge for most, to try to ignore money and let it grow.