Knowledge Center

Frequently Asked Questions

  • How can I contact you?

    You can contact Beal Bank:
    By phone at 469-467-5000, or by mail at Beal Bank Headquarters, 6000 Legacy Drive, Plano, TX 75024.

    You can contact Beal Bank USA:
    By phone at 702-598-3500, or by mail at Beal Bank USA Headquarters, 1970 Village Center Circle, Suite 1, Las Vegas, NV 89134.

    You can also contact us by using our online contact form or by visiting your nearest Beal Bank or Beal Bank USA location.

  • How can I speed up my application?

    If you already have an account with us, we can automatically fill out parts of your application using the information you provided when you opened your other account.  You can speed up your application using information from your money market or savings account.

  • How do I find current rate information?

    You can find current rates for CDs, money market accounts, statement savings accounts and IRA CDs in your area here.

  • How can I find a Beal Bank or Beal Bank USA location?

    You can enter your location information to find the closest location here.

  • How do I order new checks?

    To order new checks, please contact us at 877-TRY-BEAL (877-879-2325).

  • How is my personal information used?

    Federal law required that all financial institutions obtain, verify, and record personal information that identifies each person who opens an account.  Your information is securely stored on your account and customer records once your account is opened.

  • I forgot my password.

    No problem; just call a Retail Banking Specialist at 877-TRY BEAL (877-879-2325). We will verify account and security information with you and walk you through the steps for a new password.

  • I cannot access my account.

    Call a Retail Banking Specialist at 877-TRY BEAL (877-879-2325). We will verify account and security information with you. We can then unlock your account or provide a temporary password.

  • How do I add or change an address on my account(s)?

    For security and confidentiality, these requests must be submitted in writing. In your letter, please provide us with:
    • your name
    • account number(s)
    • instructions regarding which address information to add or change
    Please sign and date your letter and submit it to:

    Beal Bank
    Attn: Online Banking Center
    6000 Legacy Drive
    Plano, TX 75024

  • How do I close an account?

    For security and confidentiality, these requests must be submitted in writing. In your letter, please provide us with:
    • your name
    • account number(s)
    • instructions regarding which account you wish to change or close
    Please sign and date your letter and submit it to:

    Beal Bank
    Attn: Online Banking Center
    6000 Legacy Drive
    Plano, TX 75024

  • How do I wire transfer some of my account funds to another person or bank?

    Requests for an external wire transfer must be in done in writing. In writing, please provide us with your name, date, online account number(s), instructions on wire transfer including the account or transfer numbers, and your signature. Please submit in written form to: Beal Bank, Attn: Online Banking Center, 6000 Legacy Drive, Plano, TX 75024.

    PLEASE NOTE: You must also have a Funds Transfer Agreement on file with us to initiate wire transfers. Please note there is a $15.00 fee for this service for domestic requests and a $60.00 fee for international requests. Also note a withdrawal from your Beal Bank or Beal Bank USA account(s) could prompt an early close out service charge, based on the terms of the account.

  • I need a copy of my 1099 form for taxes.

    The reporting form can vary based on the amount of interest your account(s) earned and other factors. You can call a Retail Banking Specialist at 877-TRY BEAL (877-879-2325). Please have all of your account information ready when you call. We can research your account(s) and provide you with answers. If needed, we can fax, email or mail information to you.

  • Can I electronically transfer funds out of my account(s)?

    For the security of your funds, we do not originate electronic debit transfers with other financial institutions at this time. We do accept electronic transfers, credits and debits. Call a Retail Banking Specialist at 877-TRY BEAL (877-879-2325) and we can provide you with the information for the external financial institution to originate a request.

  • What sort of security features does Beal Bank use?

    We use the latest security technologies to ensure the safety of your personal information. Learn more about our privacy and online security policies.

  • What happens when my CD matures?

    We will notify you before the maturity date. At that time, you can choose to:
    • renew as is
    • add funds
    • withdraw funds
    • close the account
    For your convenience, if you do not wish to respond, your Beal Bank or Beal Bank USA CD will automatically renew for the same term, at the current rate we offer.

  • What is APY?

    APY, or annual percentage yield, is the amount of interest earned in one year expressed as a percentage rate on an account. It is based on the interest rate and the frequency of the compounding. The more frequent the compounding, the more interest an account earns.

  • Why do I need to answer these questions?

    Answering these additional security questions allows us to confirm your identity and ensure that no one else can open an account in your name.  This additional layer of security helps protect our customers against identity fraud.

  • What is the test deposit and withdrawals verification process?

    With the test deposit method of account verification, Beal Bank will make two small test deposits of less than $1.00 into the bank account you provide.  When the deposits appear in your bank account (generally within 5-7 business days, not including weekends or holidays), you must return to BealBank.com to verify the deposit amounts.  The Bank will also withdraw these deposits in the exact same amounts.

  • Where can I go to get financial education information?

    In partnership with the FDIC, we offer a variety of Money Smart courses free of charge. Learn more about these helpful courses and register.

  • Which ownership type should I choose?

    An Individual Account is an account in the name of one person.  A Joint Account is an account in the name of two or more persons.

    If you will be the only person to have ownership on this account, select Individual. If you want to add a co-owner to the account, select Joint. 

    The account is described in the Terms and Conditions as a Multiple Party Account with the Right of Survivorship.

  • Why do I need to review and accept disclosures?

    Disclosures contain the important terms and conditions that apply to your new account.  Reviewing and accepting disclosures ensures that you are informed about how we will manage your new account.

A flexible long-term strategy

Stagger due dates with CD laddering

Simply put, CD laddering is a way of investing where you plan for staggered maturity dates, to keep some of your investments liquid and also capitalize on changing rates. By planning ahead for the long term, you can keep an eye on your earnings and have the flexibility to make changes as individual CDs mature.

Some advantages of CD laddering

  • A portion of your investments are available periodically
  • Helps avoid investing all of your funds during market cycles when CD rates are lower
  • Simplifies your CD investments
  • Gives you a long-term strategy for your investments

An example of a CD ladder

Let’s say you have $80,000 total to invest in CDs. If you buy just one CD with a longer term, you have to wait for it to mature, locking up your total investment. If you buy just one CD with a shorter term, it usually will generate fewer returns. Instead you could:

  • Purchase a 3-month CD for $20,000
  • Purchase a 6-month CD for $20,000
  • Purchase a 9-month CD for $20,000
  • Purchase a 12-month CD for $20,000

Because your funds are staggered, you will have access to a portion at intervals you can plan on, in this example every three months. As each matures, you can reinvest into a longer maturity CD (which usually pays higher returns). 

Flexibility

Because you know that a portion of your investment portfolio will mature regularly (every 3 months in this example), you will have access to that portion on a regular basis. This can help if part of your goal is to maintain an emergency fund. And if you need to cash out a CD early the penalty fees will be less than if you had invested the entire sum in just one CD.

Changing market

A CD ladder can spread out your investments so you can limit the effects of a low-rate market cycle. Instead of putting all your funds into one CD, you spread them out and systematically invest. If rates are rising when one comes to maturity, that’s great. If rates are falling, you limit the impact. Over time, you can optimize your returns.

Safe, smart transactions online

Minimize worry and maximize earnings

Click here to learn more about Identity Theft Protection and Fraud Reporting.

  • Phishing emails can be very sophisticated and may look just like they are coming from a familiar bank, online retailer or financial institution. Instead, they trick consumers into clicking on links, providing personal banking information, and infecting computers with criminal viruses. Beal Bank and Beal Bank USA will never send you any unsolicited emails and will never send any email asking you to provide your personal account details.

    In general, avoid clicking on links embedded in emails; instead type in the URL into your internet browser.

  • The FDIC provides valuable information about the assets of all FDIC-insured banks. With this free information, you can objectively compare your banking institutions. Go to the FDIC website at http://fdic.gov/bank and look for Uniform Bank Performance Report.

  • Research anti-virus software and install one on your computer. Use it regularly to scan your computer for viruses.

  • Whenever you are banking or shopping online, protect your login information including user names, passwords and personal identification numbers. Don’t use information that is easy to guess or find publicly, including middle names, maiden names, street addresses, etc.

  • Make the effort to read the terms of all your accounts, and ask questions so you fully understand all the details. For your Beal Bank and Beal Bank USA accounts, you can call an Beal Bank Retail Banking Specialist at 877-TRY-BEAL (877-879-2325) to ask questions.

  • Regularly clear your internet browser history, to protect yourself against spyware and viruses that search there for sensitive information about you and your transactions.

  • The FDIC insures your deposit to at least $250,000 per depositor. By managing your investments with accounts in the name of family members, you can increase your total coverage. Go to the FDIC government website for more information.

  • Don’t keep your investments in a vacuum. Instead, consider adding in your investment returns, account amounts and long-term plans in with your monthly household budget management. This will give you an accurate way to view both short-term (monthly) and long-term (investments) results in one place that will be easier to maintain. Research popular software, and make the commitment to your long-term success.

Presented in Partnership with the FDIC

FDIC Money Smart, the award-winning financial course from the FDIC, gives you the tools to make the best decisions about your money. Money Smart will help you understand basic financial services, such as savings accounts, checking accounts, and credit cards, and will help you manage your money for you and your family. Money Smart covers these 11 topics.

  1. Bank on It: an introduction to bank services
  2. Borrowing Basics: an introduction to credit
  3. Check It Out: how to choose and keep a checking account
  4. Money Matters: how to keep track of your money
  5. Pay Yourself First: why you should save, save, save
  6. Financial Recovery: how to recover financially and rebuild your credit after a financial-setback
  7. Keep It Safe: your rights as a consumer
  8. To Your Credit: how your credit history will affect your credit future
  9. Charge It Right: how to make a credit card work for you
  10. Loan To Own: know what you're borrowing before you buy
  11. Your Own Home: what home ownership is all about

Money Smart is a comprehensive financial education curriculum designed to help low- and moderate-income individuals outside the financial mainstream enhance their financial skills and create positive banking relationships. Money Smart has reached over 2.75 million consumers since 2001. Research shows that the curriculum can positively influence how consumers manage their finances, and these changes are sustainable in the months after the training.

About the FDIC

Congress created the Federal Deposit Insurance Corporation (FDIC) in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at member banks and savings associations, and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars; insured financial institutions fund its operations.

Taking the Course

To learn more about the Money Smart course and register, you can:

Identity Theft Protection and Fraud Reporting

Protect yourself from Identity Theft

Identity theft generally involves someone stealing your personal information to open new accounts or to initiate transactions in your name. Thieves can also use a stolen identity to access your existing accounts and steal money from you.
 
To protect yourself, keep your online banking username and password confidential.
 
To help maintain the security of our online banking services, we require that you change your online banking password at least every 90 days.

Ways to protect yourself against Identity Theft and fraud

  • Change your password regularly and do not use the same password across multiple sites.
  • Think of three or four easily remembered words which do not make a sentence (a passphrase) and string them together without spaces to make your password. You may use capital letters, lower case letters, numbers, or special characters in your passphrase if you want extra protection. Just make sure it is easy to remember.
  • Learn what Identity Theft is and the various methods that your personal information can be stolen by visiting the Federal Trade Commission’s anti-Identity Theft site at http://ftc.gov/idtheft.

Report phishing and email scams

“Phishing” is a process some criminals use in their attempts to acquire sensitive information such as usernames, passwords and credit card details. They send customers email posing as a legitimate company.
These fraudulent emails may contain links to phony websites or request you to share personal or financial information using clever or compelling language, such as, “It is urgent that you update your information to ensure the security of your accounts.”
 
To help protect your information online, you should never open attachments, click on links, or respond to emails from suspicious or unknown senders.
 
Beal Bank will never send you an unsolicited email that asks you to verify personal information regarding your accounts, such as your user ID or password, and Beal Bank will never call you and ask you to reveal or confirm your password or user ID. Refer also to our Online Privacy Policy.
 
If you receive a suspicious email that appears to be from Beal Bank, do not respond to it or click any links. Please call our customer service department at 877-TRY BEAL (877-879-2325) and report it as soon as you can. This will help us in our efforts to fight this form of fraud.

Examine your statements and report unauthorized electronic funds transfers

You should examine your account statements promptly after you receive them or they are made available to you.
 
If you discover any unauthorized electronic funds transfers in your statement, you should promptly notify us of the relevant facts. You can reach us by phone at 877-TRY-BEAL (877-879-2325) or by email at info@bealbank.com.
 
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.
 
Generally, 10 business days (20 business days if the transfer involved a new account) after we hear from you, we will determine whether an error occurred and promptly correct any error discovered.
 
If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
 
If you do not report any unauthorized transfers in your account within 60 days of when we first send the statement (or make it available to you), you will not be able to assert a claim against us on any unauthorized items in that statement.

Report Fraud and Identity Theft

Report any suspicious or fraudulent activity to our customer service department at 877-TRY-BEAL (877-879-2325) as soon as you can. This will assist us in our efforts to fight Identity Theft and protect you and your accounts.



Laddering: Flexibility in a changing market


Want to maintain access to your CD investments and capitalize on the best rates in a changing environment? Learn more about how CD laddering works.

Learn More


Safe, smart transactions online


Tips and information to help keep your online activity safe, minimize worry and maximize your returns.

Learn More

Report Suspicious Email


If you have received a suspicious email, please let us know at info@bealbank.com

Need help?

Get Current Rates

Enter your ZIP code below
to get current rates: