Banking products are provided by Beacon Bank: Member FDIC. Equal Housing Lender. Beacon Bank is a Massachusetts chartered bank. Rates are subject to change at any time.
1Beacon One University Checking: This account is only available to customers who meet the following criteria: the account holder must have an active .edu email extension at account opening and be over the age of 18. This account is only available online. There is no minimum balance to open a Beacon One University Checking Account. Product not available for business accounts. Courtesy Pay℠, our discretionary service, is not available for this account. Generally, we will not authorize or pay transactions when you do not have enough money in your account. Fees may be charged by the merchant if your transactions are returned unpaid. For transactions that are pre-authorized by us, we must pay those transactions when they are presented for payment even if your account balance at the time of settlement is not sufficient to cover them. When this happens, you are not charged overdraft fees or continuous overdraft fees. Identity theft protection services are available for this account. Information about Identity Theft services will be sent in a separate email. Fees may reduce earnings on the account.
2ACH Fast Credit is available only for consumer transactions that come through with the Nacha Standard Entry Class code of PPD which stands for Prearranged Payment and Deposit. This includes all of the types of credits mentioned above (direct deposit, federal tax return, social security, alimony, child support, etc.). Most business transactions are coded as CCD/CTX, which stands for Corporate Credit or Debit and are not eligible for ACH Fast Credit.
3To qualify for the Stream On credit, each Calendar Month you must:
Have a combined direct deposit total of $500 or more each month into your Beacon One Checking account OR maintain an average monthly minimum balance of $1,000 in your Beacon One University Checking account, enroll in e-statements AND Set up a monthly subscription with one of the following fifteen streaming services to be debited out of your Beacon One University Checking account: Disney+, Netflix, Hulu, YouTube Premium, Paramount+, Spotify Premium, Apple Music, YouTube Music, Amazon Music, SiriusXM, Xbox, PlayStation, Nintendo, Steam, or EA Play. Annual subscriptions do not qualify. Both required transactions must post and settle to the account during the Calendar Month. Your monthly streaming, music, or gaming service debit must post and settle to your account by the end of business (5 PM EST) on the last business day of a Calendar Month to be counted. Transactions may take one or more business days to post and settle to an account after the date a transaction is made. “Calendar Month” begins on the first of the month and ends the last day of the monthly period.
The Stream On credit is not valid for Beacon Bank clients with an existing Beacon Bank checking account (This includes former BankRI, Brookline Bank, Berkshire Bank, and PCSB accounts) and is limited to new Beacon One checking account clients only. The following additional terms apply to this account: If you qualify each calendar month, for the 36 months following account opening, we will credit up to $7.50 per month into your Beacon One University checking account. Monthly credits will cease the 25th calendar month after account opening. Beacon Bank will provide a credit in the amount of the highest streaming, music or gaming service paid up to $7.50. For example: If you pay $6.99 a month for Netflix and $7.99 a month for Disney+, you will receive a streaming service credit of $7.50 the following calendar month. If you pay over $7.50 a month for one of the above streaming services, you will receive a credit of $7.50 the following calendar month. This credit will show on your statement with the description “Credit for streaming service.” Stream On credits are capped at 36 per tax reported owner. When the Stream On qualifications are met, the credit will be posted to your account within the following calendar month. If you do not qualify at any point during the 36 calendar months following account opening, you will NOT receive the streaming service credit for that calendar month. Stream On Scenarios:
1. You open your Beacon One University Checking account August 1, 2026, and qualify for the Stream On credits consistently for 36 months. At the end of the promotional period, July 31, 2029, you will have received 36 Stream On credits.
2. You open your Beacon One University Checking account August 1, 2026, but do not qualify for the Stream On credits until September 1, 2026. At the end of the promotional period, July 31, 2029, you will have received 35 Stream On credits.
3. You open your Beacon One University Checking account August 1, 2026, and qualify for the Stream On credit for the remainder of 2026. In January 2027, your monthly combined direct deposit falls short of the $500 requirement, you will not receive the credit in February. If you then subsequently qualify in February and continue to qualify each calendar month, you will receive the Stream On credit until July 31, 2029. At the end of the promotional period, you will have received 35 Stream On credits. If the account is closed before any credits are posted to your account, the credits will be forfeited. Your credits may be reportable to the IRS on Form 1099-MISC.
Limited Time Offer and may be withdrawn at any time.
4Cell phone insurance is offered through Mastercard. Beacon Bank has a relationship with Mastercard to offer services to its customers. The maximum liability is $800 per claim, and $1,000 per covered card per 12-month period. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per covered card per 12-month period. To learn more about how you qualify for this cell phone insurance, Click here.
5Identity theft protection services are available for the Beacon One Checking account. Information about Identity Theft services will be sent in a separate email. Eligible customers for Identity Theft services would include the Consumer, his/her spouse or domestic partner, dependents in the household up to age 25, other IRS-qualified dependents in the household, and parents living at the same address as the consumer, or living in hospice, assisted living, or nursing home.
Please see the fee schedule for applicable fees and the Consumer Online Account Truth In Savings for additional information. Our account fee policy is subject to change at any time.
