Update: The beta signup period has been extended until 3/30 at 6pm ET. The private beta will be rolled out starting next week in the order that you are on the waitlist. FDIC insurance will be provided through Evolve Bank & Trust.
Beam has announced that they will start launching their online banking service in beta mode later this month.
You can signup to join the waitlist via my referral link here. They will be letting people open accounts during beta mode in the order they are on the waitlist. The earlier you signup, the higher you will be on the waitlist. You can also move up the waitlist by getting people to signup with your referral link by 3/27 at 6pm ET. The top 10 people on the waitlist will also get a 7% APY for the first 100 days from launch.
Beam is FDIC insured for $250K per depositer. They will offer 2% APY on their online savings account, an amazing rate for liquid funds. They will also offer the opportunity to boost the rate to 4%, though they haven’t yet announced those details. There will be no fees for using Beam, there is no charge for money transfer and there are no minimum balance requirements.