21 January 2019
A joint venture of the National Australia Bank, Westpac, and Commonwealth Bank, Beem It is an App (available on iPhone and Android) that is used to transfer money instantly, and discreetly, through any banks in Australia.
One of the key words here is instantly, which is really appealing. For far too long, when we’ve made bank transfers using BSB and account numbers, the bank can sometimes take 2 to 3 days to transfer the funds; even though the money leaves our account instantly after payment, it can take a while to appear in the account you’re paying to. We’ve all had this happen, right?
These three of the big four banks in Australia have introduced Beem It early last year, which is a really easy to use App, that allows users to create an account, which involves linking to your debit card, and creating a username.
Then to pay someone, you simply type in their Beem It username, and make the payment, which goes through instantly, and with no transaction fee. You can link with your debit card from any bank in Australia. It is an easy way to send and receive payments. The payments don’t float about anywhere in cyberspace, they go directly into your bank account, instantly.
I had heard about Beem It on television when it was first created, though hadn’t used it until now when it was recommended to me by a friend and colleague, who said she finds the App very effective, and efficient. It can be really useful as it is instant, but also very discreet.
Whether you are transferring money, or having money transferred to you, your bank account statement simply says ‘Beem It’ as the transfer details, which can be great for privacy.
Now I have included on my Engagement Fees Page that Beem It can be used for payment, with my username being @thelovedoctor.
A lot of people like to pay in advance via bank deposit, to get it out of the way, so we can enjoy quality time together, without thinking about payment. Whatever works best for you, works best for me. And if Beem It may make things easier, then that’s a good thing.
To promote the use of the Beem It App, the banks are offering us $5, no strings, to create an account. It’s a referral program, so all you have to do is download the app and create an account, for free, and then get a referral code from me (or anyone else who uses Beem It) and you get $5 put in your bank account. Even if you don’t make any Beem It transfers. So I thought it can’t hurt to try it out.
I’ve no idea if Beem It will take off in the long term, or if the banks in Australia might up their game and start to make all transfers instant even without the app.. But whatever the future for this app, I think it’s pretty handy being able to transfer money using someone’s username, rather than BSB and account number. So I think it could become a pretty common transfer method.
Beem It – An easy way to Beam your money transfers, with bank level security, privacy, and in an instant. Except they spell Beem with an E, rather than with an A… But it’s all good.