Overview / Commentary
844-878-7359
260E Rxr Plaza
Uniondale, NY 11556

BankPurely is an online division, along with iGObanking, of Flushing Bank. In fact, BankPurely depends upon the banking technology of iGObanking.com and BankPurely accounts are visible on iGObanking’s online banking platform. All three banks – BankPurely, iGObanking, and Flushing Bank – are insured as one financial institution by the Federal Deposit Insurance Corporation (FDIC).

At the time of this writing, BankPurely offers two personal banking products: a savings account and a checking account. Both accounts are interest-bearing, featuring no monthly fees or minimum balance requirements. BankPurely also offers its customers quick, easy, and secure access to their funds through ATM access, online and mobile banking options, and mobile check deposit. A debit card is also available for the personal checking account.

According to the “Who We Are” page of its website, BankPurely was “specifically crafted for ethical consumers with greater awareness about environmental and social issues.” The bank describes its promotion of paperless bill pay and electronic statements, as well as its lack of branch locations as an online bank, as parts of its commitment to eco-friendliness and the minimization of its carbon footprint. Furthermore, for every subscription to its email newsletter and ever account opened, BankPurely promises to plant a tree.

Related Posts

BankPurely and iGObanking Up Money Market Account and CD Rates - 9/14/2018

BankPurely and iGObanking (internet divisions of Flushing Bank) are both offering Money Market Accounts earning 2.00% APY on balances of $25k and above.

BankPurely and iGObanking Offer Money Market Savings Accounts - 7/25/2018

BankPurely and iGObanking (internet divisions of Flushing Bank) are both offering Money Market Accounts earning 2.00% APY on balances of $25k and above.

BankPurely 12-Month CD Raised to 2.5% APY, MM now 2% - 7/14/2018

12-Month CD = 2.50% APY APYs are effective as of 7/12/18. Minimum balance required is $1,000. New accounts and new money only. https://www.bankpurely.com/Purely-CDs PurelyMoneyMarket = 2.00% APY PurelyMoneyMarket APYs are effective as of 7/12/18. The rates on existing accounts may be lower, and existing account holders may obtain their current rate by logging into their online banking account. Minimum balance required is $25,000 to open and earn interest. New accounts and new money only. https://www.bankpurely.com/moneymarket

View all posts from:


Competitive Checking is A+

So far I've had a really positive experience with Bank Purely. I love that there are no minimums on the accounts and no fees. Also, the fact that they have really good interest rates on checking accounts is unheard of from my personal research. When I was shopping around for an online only bank, these were the main things that really stood out as a game changer for me. They also told me that they plant a tree with every checking account that is opened, and I absolutely love that idea. It seemed like the sustainable bank for me. I was worried about not having access to my money with an online only bank but finding their ATM's has not been a problem at all. Wherever I am, there seems to be an ATM nearby which is very convenient.

Bankpurely

I have really been enjoying using Bankpurely. If you haven't heard of them you can sign up on their website very easily. I opened both a checking and savings account about a year ago. Since then I make deposits through the app i downloaded. I can check my statements at any time. Bankpurely also works perfectly with the direct deposit which comes straight out of my work account. I did have an issue with a mistake on my account when a check was deposited for a different amount than written on it. This was handled professionally and quickly once i emailed their customer service department. Overall I have really enjoyed banking with bankpurely.

Must Jump Through Hoops For A Good Rate - UPDATED

BankPurely is a fairly new division of Flushing Bank based in NY ("A" rated). To open a BankPurely 1.30% savings account you have to register through the igobanking platform. It turns out they could not verify my identity, so I had to email them a recent utility bill and copies of my Driver's License. After that I was told to wait 5-7 business days to receive a PIN in my snail mail. I have never had so much trouble opening a online bank account before. It's a good rate and hopefully it remains, especially after jumping through all the hoops. I spoke with someone at BankPurely before opening the account and was told that they have a incoming limit of 100K per ACH transfer and outgoing limit of 15K per a ACH transfer and 50K total withdrawal limit per a month, but you can have that raised to 100K one time transfer by emailing them (supposedly they have a 24hr turnover on requests). Also they charge $10 if you close your account within 6 months of opening. They always seem to answer the phone and the customer service people seem knowledgeable. I was told by numerous customer service reps that this is not a promotional rate as far as they knew. We will see how things progress once the account is open and funded. I do see the transfer limits as a negative for someone who needs to move large funds around on a regular basis, but these limitations could be circumvented by doing a push or pull from a external bank without limits I suppose.

UPDATED

I have had my Bank Purely account open for a couple weeks now. Overall the experience has been good with some minor hiccups. I had trouble pulling money into the account because the transfer limit was 2K. I had to call to get it increased, but it kept defaulting back to 2K the next day. The customer service people are helpful and answer the phone each time. I am not a big fan of the website interface. It is adequate but there are a lot of features hidden in little tabs and buttons. It is not as intuitive as it could be. Overall my Bank Purely experience has been ok, but the basic functionality is not as simple and fast as other competitive online banks. I still give them 4 stars because of the current high rate and good customer service. They would get 5 if it wasn't for the sub-par website.

Ridiculous

I already jumped through all the hoops to open Savings account with BankPurely about a year ago and just last night filled out the online app for the 2.25% money market. The bank send me a email that they can't confirm my identity and requested me to send them copies of my drivers license, utility bill, credit info etc. I called them and told them, I already have a account in good standing and wish to open a new account to take advantage of the higher rate. I don't think it is necessary for me to to jump through the same hoops in their archaic system if nothing has changed and I am a existing customer in good standing. They said they would get back to me. I have yet to hear back. I don't feel optimistic about it.

VIEW MORE REVIEWS

Health

Health Grade Components

Overall
FDIC Certificate #58564
Year Established2007
Employees468
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.92%
Return on Equity - YTD9.28%
Annual Interest Income$126.6MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$6.47B$6.29B
LoansQ2 2018vs Q2 2017$5.31B$5.05B
DepositsQ2 2018vs Q2 2017$4.61B$4.27B
Equity CapitalQ2 2018vs Q2 2017$646.0MM$631.3MM
Loan Loss AllowanceQ2 2018vs Q2 2017$20.2MM$22.2MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$20.3MM$19.0MM
Real Estate OwnedQ2 2018vs Q2 2017$0$0
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

BankPurely 12-Month CD Raised to 2.5% APY, MM now 2%

JDubs   |  
12-Month CD = 2.50% APY

APYs are effective as of 7/12/18.
Minimum balance required is $1,000.
New accounts and new money only.
https://www.bankpurely.com/Purely-CDs

PurelyMoneyMarket = 2.00% APY

PurelyMoneyMarket APYs are effective as of 7/12/18.
The rates on existing accounts may be lower, and existing account holders may obtain their current rate by logging into their online banking account.
Minimum balance required is $25,000 to open and earn interest.
New accounts and new money only.
https://www.bankpurely.com/moneymarket

Rates
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not BankPurely; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

BankPurely Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.90%--SavingPurely

BankPurely Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.25%$25k$500kPurelyMoneyMarket

BankPurely Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%--CheckingPurely

BankPurely CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.87%$1k-60 Month PurelyCD
2.75%$1k-24 Month PurelyCD
2.65%$1k-12 Month PurelyCD
2.00%$1k-36 Month PurelyCD
Locations

BankPurely is an Internet only bank and does not have branch locations. Its headquarters is located at 260E Rxr Plaza - Uniondale, NY 11556

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact feedback@depositaccounts.com to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.