Frequently
Asked Questions

General

What is Highbeam?

Highbeam is a finance platform providing banking services for ecommerce businesses. Highbeam accounts feature:

  • Checking account
  • Virtual and physical cards with spend management
  • ACH payments and domestic wire transfers
  • Revolving line of credit 
  • Ecommerce platform integrations and dashboard
  • Other tools and features to help you run your ecommerce business

What do I need to apply for an account?

We are currently in private beta and you can request access here. To be eligible, you’ll need a U.S. company with the following:

  • Personal identification document(s) from the business owner
  • The business’s Employer Identification Number (if applicable)
  • Business name, industry, address, email, and telephone number
  • Registration certificates, business licenses, and/or articles of incorporation

Can I apply for an account if I’m not physically in the United States?

Yes, our online application can be filled out from anywhere.

Security & Privacy

What do you use my social security number for?

We use your SSN solely to verify your identity. We will always get approval prior to any credit checks while activating our credit products.

Where are my funds kept?

Highbeam works with FDIC-insured bank, Blue Ridge Bank, N.A., Member FDIC, to store your deposits.

Are my funds insured?

Yes, your checking accounts are insured up to the FDIC limit of $250,000*. You can learn more about FDIC insurance here.

What do you do for security?

Highbeam makes security a top priority. We follow strict industry standards to protect your data and money. For more information or concerns, please contact support@highbeam.co.

What is Plaid?

Plaid allows us to securely connect your bank accounts to Highbeam. You can learn more about Plaid here.

Pricing

What does Highbeam cost?

We believe in transparent, accessible financial services. Because of that, there are no hidden fees. That is, no minimum account balance, no transaction or overdraft fees, and no monthly or annual fees. Advanced features such as our credit product charges interest on our loans, clearly called out as APR.

How does Highbeam make money?

Our partner bank earns a small amount of interest on deposits, and Highbeam receives a percentage of this amount. Furthermore, when you use your Highbeam Visa card, Visa charges a fee to the merchant. Highbeam receives a percentage of this fee, known as interchange. For our credit products, we earn loan interest, clearly called out as APR on the loan.

Credit

Does Highbeam require a hard credit pull?

We do not require a hard pull while opening an account. We will always get approval prior to any credit checks while activating our credit products.

How much credit can I get from Highbeam?

We offer revolving lines up to $1M.

Does Highbeam charge interest?

We believe in transparent interest rates and credit products. On our revolving lines we calculate interest daily at a flat APR based on the amount of principal outstanding.

Sending & Receiving Money

Where can I find my account number and routing number?

You can find wire details for each of your accounts by going to your Accounts page > View account details.

Can I send money via ACH (electronic transfer)?

Yes, ACH (electronic transfers) are free with any Highbeam account.

Can I send wire transfers?

Yes, domestic wire transfers are free with any Highbeam account.

Can I deposit checks in my account?

We currently only support ACH (electronic transfers) and cash deposits at any eligible, US-based Allpoint+ ATM. You can locate Allpoint ATMs here. Email us at support@highbeam.co if you'd like us to add electronic check deposits.

Can I send wire transfers internationally?

Yes, you can send international wires to all of our supported countries, and we're actively rolling out new countries. Please reach out to support@highbeam.co if you don't see support for a country.

I don’t recognize a transaction on my account. What should I do?

Email us at support@highbeam.co and we’ll get it sorted for you.

Debit Card

Can I withdraw cash from ATMs?

Yes, our debit cards can be used at any ATM. We don’t charge any fees on top of what the ATM operator charges. You can make no-fee withdrawals at any Allpoint ATM. You can locate Allpoint ATMs here.

Can I deposit cash at ATMs?

Yes, you can make cash deposits at any eligible, US-based Allpoint+ ATM. Deposits are limited to $1,000 per transaction. Allpoint ATMs do not accept checks, envelopes, or non-US dollars. You can locate Allpoint ATMs here.

I don’t recognize a charge on my account. What should I do?

Email us at support@highbeam.co and we’ll get it sorted for you.

Accounts

Can I have multiple users on my account?

Yes, you can add team members to your Highbeam account from the Users page.

How can I remove a user from my account?

Email us at support@highbeam.co and we’ll get it sorted for you.

Have questions about something else? Email us at hello@highbeam.co