ST Alpha - "Is that the one that is online only with no branches? -- nm" (Reading a Post)

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In response to "Hmm.. fishy.. Bank account paying 2-4%. FDIC insured. Have you guys heard of Beam? -- (link)" by James Bond (aka Igor)

Is that the one that is online only with no branches? -- nm

Posted by Bacon (aka redmond) Aug 23 '17, 20:45

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Responses:

Ally is an online-only bank and its my bank. -- nm - Mop Aug 23, 21:19
I guess... they don't seem to exist yet anyone. Only waitlist and they will open in Nov -- nm - James Bond (aka Igor) Aug 23, 20:49 4
- If they don't have branches with very little over head I see how they could use that money to pay savers -- nm - Bacon Aug 23, 20:56 3
  - I found more info, it doesn't seem like a bank at all. They seem like a middle man for a bank. I am not fully sure about their business model yet. -- nm - James Bond (aka Igor) Aug 23, 21:03 2
    - Sounds like they're funding mortgages and such through their 'partner' banks. - Meg Aug 23, 21:48
    - Okay, so as an investment that doesn't sound good, but FDIC means customers should be golden -- nm - Bacon Aug 23, 21:17

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