How are my dues calculated & deducted ?

We know how often money inflows can be unpredictable over a month. This is why you often need emergency cash ! Our dues policy is also crafted to your financial life.

Your Beem dues at any given point of time are a sum of your Emergency cash dues, Subscription fee dues, Late fees and Instant transfer fees. Read on to know more.

Emergency Cash

• You can withdraw Emergency cash up to your unlocked amount - We will take care of the repayment for you.
• Whenever - we repeat - whenever there is an inflow of cash into your account, we will ensure it goes towards clearing your dues !
• No need to track a due date and worry about timely payments & incurring late fees
• At any given point of time, we will clear your dues only when there is an inflow of cash in your account. E.g. if your Everdraft dues are $20, but you’ve just got a $10 inflow in your account, we use that to clear your Everdraft due by $10.

Little by little, your dues will clear off on their own. NO rising interest, NO late fees on Everdraft due.

Subscription fees & Late fees

To keep Everdraft active, we take a monthly subscription fee. And here’s the best part - just like your emergency cash - we will take care of the subscription for you.

• It will simply be added to your existing Beem dues and be cleared in the same manner as your Emergency Cash (Everdraft) dues. That is, every time you have an inflow of cash, we will ensure it clears you subscription dues.
• To help you keep your Beem services in active status and avoid late fees, your subscription for the immediate future month is collected in advance whenever there is an inflow of funds in your account. This will also protect you from incurring late fees of $5 every month for every missed subscription, capped to $15 in aggregate late fees.

Instant transfer fees

The instant transfer fees are the fees you incur every time you withdraw money to debit card.