Beam: Trial Accounts Starting

This morning I awoke to an email in my mailbox proclaiming that Beam, the high interest savings account startup, is starting to roll out Trial Accounts where participants may deposit up to $400 to try out the app and service.

Beam: High Yield Savings Accounts

I had previously covered Beam on the EAF blog as a possibility for parking my emergency fund where it would be FDIC insured and still provide enough growth to outpace inflation. I am still cautiously optimistic that this service can provide that capability yet equally skeptical on the amount of interaction the service is going to require to move from the promised baseline of 2% interest to the cap of 4% interest.

In keeping with their trend they are rolling out the Trial Account invitation to IOS users first (similar to their private beta which has a reported cap of $15,000) however this time they have specified an August target date for customers in line with Android phones.

I currently have close to 5,000 people ahead of me in the "line" for roll out so I may not see the trial in August however as soon as it rolls out I will be parking the maximum in it and giving it a spin to report back here.

If you would like to view the trial announcement it can be found at Beam's blog site.