Bankrate: With neobank Beam, savers reap what they sow

For anyone fed up with low savings account yields, a startup has a solution: a mobile banking app that can pay as much as 4 percent APY.

“Very few people will actually get consistent rates of 4 percent, if anybody,” says Stephen Greer, a senior analyst at research and consulting firm Celent. “It’s a cool trick to try and get people engaged, but I think it’s way overstated that it’s really anything more than a 2 percent savings account.”