Author Topic: meet "Beam" - a new high APY fdic insured bank  (Read 19539 times)

Offline dovy2

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meet "Beam" - a new high APY fdic insured bank
« on: August 24, 2017, 06:30:03 AM »
https://meetbeam.com/?r=CASH-rJgSyMw3OW



Not sure if this is a"deal" or not, so posting here.

2-4% apy.
Fdic insured.
Request early access now.

What do you guys think? Gonna last long?
« Last Edit: August 24, 2017, 10:25:57 AM by Dan »

Offline Sammy82

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #1 on: August 24, 2017, 07:42:24 AM »
I signed up. Nothing to loose at this point.

Offline dovy2

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #2 on: August 24, 2017, 08:21:30 AM »
One thing I hope this accomplishes is making online banking competitive, where the only ones gaining are us, the consumers.

Offline Yammer

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #3 on: August 24, 2017, 08:24:23 AM »
Somethings amiss. How can a bank offer such an amount?

Offline dovy2

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #4 on: August 24, 2017, 08:44:35 AM »
Somethings amiss. How can a bank offer such an amount?
What's amiss is why don't all banks offer such amounts...
B&M banks have lots of overhead.. but online banking should be competitive..


Online aygart

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #5 on: August 24, 2017, 08:56:44 AM »
What's amiss is why don't all banks offer such amounts...
B&M banks have lots of overhead.. but online banking should be competitive..
Do you have any clue where interbank rates are?
Feelings don't care about your facts

Offline Am

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meet "Beam" - a new high APY fdic insured bank
« Reply #6 on: August 24, 2017, 09:35:10 AM »
What's amiss is why don't all banks offer such amounts...
B&M banks have lots of overhead.. but online banking should be competitive..
Cost of compliance shouldn't differ that much between online and B&M. The reason all the small banks are selling themselves to the regional and nationals is not because they can't afford the cost of brick and mortar. It's because Dodd-Frank is just too expensive to comply with.

https://www.bloomberg.com/professional/blog/dodd-frank-costs-reach-36-billion-sixth-year-2/

https://www.google.com/amp/s/www.cnbc.com/amp/id/100574254
Note that this article is from NBC, not exactly the anti regulation type. But sometimes the truth is the truth.
« Last Edit: August 24, 2017, 09:42:50 AM by Am »

Offline dovy2

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #7 on: August 24, 2017, 06:59:14 PM »
I'm clueless in these things, I just know that my current bank has 0.01 interest and this is a lot more..

Unless this is a scam.. could it be so?

Offline Sammy82

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #8 on: August 24, 2017, 08:59:27 PM »
I currently get 1.19%from amex banking. But if I could get 2-4%, great.

Offline Dan

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #9 on: August 25, 2017, 11:53:52 AM »
Would love to get 2-4%, but is it really possible for them to afford that?
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #10 on: August 25, 2017, 12:01:42 PM »
Would love to get 2-4%, but is it really possible for them to afford that?
I vote no.
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Offline mmgfarb

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Re: meet &quot;Beam&quot; - a new high APY fdic insured bank
« Reply #11 on: August 25, 2017, 12:04:49 PM »
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline stooges44

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #12 on: August 25, 2017, 12:05:52 PM »
Very, very strange that their security policy is hosted on drive: https://drive.google.com/file/d/0B9OAUbCZZGz9TTFIV0RvRmF1RFk/view

Now I'm kicking myself for viewing it while signed into chrome  :(

Actually, all three are hosted in drive  ???
If it's not free shipping it's not worth it.

Offline Dan

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #13 on: August 25, 2017, 12:07:49 PM »
I vote no.
How do banks offer these rates on CDs but not on savings?
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline henche

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #14 on: August 25, 2017, 12:09:40 PM »
How do banks offer these rates on CDs but not on savings?

They don't need to keep as much liquid

Offline kertz55

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #15 on: August 25, 2017, 12:57:38 PM »
Was not able to find it at https://research.fdic.gov/bankfind/ as of yet

Offline Yammer

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Offline Dan

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #17 on: August 25, 2017, 01:11:55 PM »
Was not able to find it at https://research.fdic.gov/bankfind/ as of yet
They're going to use the FDIC backing of another bank.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Geshmak25

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #18 on: August 25, 2017, 03:18:35 PM »
Would love to get 2-4%, but is it really possible for them to afford that?
Post on DDMS, become first on waiting list, and let us know if it's a real thing.
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Offline Dan

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Re: meet "Beam" - a new high APY fdic insured bank
« Reply #19 on: August 25, 2017, 03:26:52 PM »
Post on DDMS, become first on waiting list, and let us know if it's a real thing.
Hate posting things I'm not positive about, but I'm at 21 just from DDF so far, lol.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.