When it comes to personal finance and budgeting, managing your money effectively can be especially tricky. With rent, utilities, groceries, phone bills, car payments, and other expenses needing to be paid every month – not to mention unexpected costs that inevitably pop up from time to time – keeping track of your spending can become overwhelming in a hurry. Luckily, financial tools are out there that make things easier for us as consumers. Beacon Payments is one such tool. Keep reading for our full Beacon Payments review and see if it’s right for you!
Beacon is a mobile payment management app and digital wallet system that aims to help users streamline their finances by consolidating their various financial accounts into one convenient location.
Beacon is a mobile payment management app and digital wallet system that allows users to manage multiple bank accounts and credit cards from within one convenient location. Users can make payments, transfer funds, and track their spending from one app.
You can access Beacon on desktop computers, smartphones, and tablets, which works with most major financial institutions. Beacon is owned by Finicity, a financial technology company that has been in business since 2005. You can learn more about the company on Finicity’s website.
It’s offered as a free service with a premium paid plan that comes with additional features. The free version offers some basic features, such as viewing a visual history of your transactions and receiving weekly spending insights. Users can also set up recurring payments, create budgets, and have recurring monthly payments tied to them.
The free version also includes limited access to your financial accounts. So, if you use Beacon to view your account activity, you’ll only be able to see the transactions recorded in the last 30 days.
● Convenient wallet system
● Simple friction-free payments
● Excellent budgeting tools
● Lacks support for investment accounts
● Limited customer support
Beacon offers three different plans: the free standard plan, the free plus plan, and the paid standard plan. The paid standard plan is $9.99 per month, while the free standard and free plus plans are free. Although the free standard plan is free, there are some limitations.
Users can only link two accounts and view their account activity for the last 30 days. If you want to upgrade to the paid standard plan, you can link up to 10 accounts and view your account activity for the past two years. The paid plus plan is $14.99 monthly and comes with additional features such as unlimited account linking and budgeting. It’s important to note that the paid plus plan also includes the benefits of the paid standard plan.
At the time of writing this review, Beacon’s payment review section was a little sparse, with only 28 published customer ratings. Fortunately, a glance at those ratings reveals that most users are pleased with the service provided by Beacon. However, some complaints and caveats also need to be addressed.
Overall, Beacon has a positive rating of 3.63 stars out of 5, with only 13% of customers rating the service 2 stars or below. Most reviews are positive, with customers praising Beacon’s ease of use, helpful customer support specialists, and useful features. There are, however, a few issues that customers have with the service.
First, some users have complained that it can be difficult to set up auto-investing. Second, some customers have complained that it can be difficult to contact customer support. And finally, a few customers have complained that Beacon does not yet support their financial institutions.
It’s important to consider that Beacon is relatively new compared to other payment management apps and services. As time goes by, more banking institutions will likely be added to Beacon’s list of supported financial institutions.
In our Beacon Payments review, we found that its account integration process is quick and simple and can be done within a few minutes. All you have to do is download the app and choose which accounts you want to add.
Once you’ve linked your accounts, Beacon will automatically record your transactions. You can view the transactions and see how your spending is distributed across your various accounts.
From there, you can create budgets, set up recurring payments, and create savings goals to help you stick to a tight budget. You can also use Beacon to set up auto-investing features, such as auto-investing in a retirement account or automatically investing in a stock portfolio.
Beacon is a useful financial tool to help you manage your money more effectively. It provides intuitive tools and methods to track your spending, set up budgets, and create savings goals.
Beacon’s intuitive design and user-friendly features make it easy for almost anyone to use. While Beacon has no major disadvantages, some might consider it overpriced compared to other payment management apps and services.
A free standard plan is good if you’re only interested in viewing account activity for the past 30 days. The paid standard plan is the way to go to view your account activity for the past two years. If you want to link more accounts and have access to unlimited budgeting and account linking, the paid plus plan is the ideal choice.
Beacon is a useful financial tool to help you manage your money better. It provides intuitive tools and methods to track your spending, set up budgets, and create savings goals. Beacon’s intuitive design and user-friendly features make it easy for almost anyone to use. To better manage your money, download the app and sign up for an account with Beacon today!