Wells Fargo Scandal: Meet the Bank Bringing Trust Back to the Industry

Consider this:

>> The Wells Fargo scandal is just the tip of the iceberg on a much bigger issue: big banks care about the bottom line more than their customers. Why else would most traditional bank accounts make 4%-5% on every $1 deposited—while the customer makes just .01% (a 500% gap)?

Everyday Americans are getting ripped off everyday—so why do we only talk about it when a bank gets caught?

Enter Beam [www.meetbeam.com]—a high-interest FDIC-insured mobile bank account that pays 200x more than traditional bank accounts. By fixing bleeding bank accounts that earn just 0.01% in an economy with 1.7% annual inflation, Beam aims to reinvent the banking industry by bringing back a customer-first mindset.

Here’s why Beam’s mission is transformative for the banking industry:

>> IT’S EXPOSING THE 500% SECRET OF NET INTEREST MARGINS

Traditional banks have sat on the secret of the 500% interest gap for too long. Beam offers 2%-4% interest rates, paying customers what their money really earns and bringing trust back to the bank-customer relationship.

>> IT'S COMPLETELY FEE-FREE
Many traditional bank accounts come with hidden fees for standard account activities such as withdrawals, transfers and the like. Why should customers pay for basic account necessities? That's why Beam is introducing a demand deposit account that is completely fee-free—because it shouldn’t cost money to have money.

>> IT FOCUSES ON GIVING THE CUSTOMER THEIR TRUE MONEY’S WORTH
People aren’t getting as much of a return as they should be. Beam is flipping the old system on its head by paying 200x higher interest than traditional bank accounts, helping Americans not only keep their cash, but multiply it.

Launching in November, Beam offers 2%-4% interest rates, instead of the 0.01% industry average, by closing the margin and paying you what your money really earns. Consumers can sign up for the waitlist at https://meetbeam.com/.