Overview / Commentary
1251 Avenue of the Americas
New York, NY 10020-1104

PurePoint Financial is dedicated to deposit accounts, and it currently offers some of the highest savings account rates and CD rates in the country. According to its inaugural press release, PurePoint was founded, in light of a very poor savings rate in the United States, for the sake of committed savers. For this reason, the institution currently limits its banking product offerings to savings accounts and Certificates of Deposits (CDs). In addition to funding their personal deposit accounts via mobile deposit, check, or wire transfers, consumers can easily link their PurePoint accounts to external bank accounts. PurePoint’s CD terms range from 12 to 36 months. At the time of writing, if the CD is funded within 10 days after successfully applying to open the account, the interest rate is guaranteed to be the best rate offered within that same period.

PurePoint Financial is a division of MUFG Union Bank, N.A., itself a subsidiary of Mitsubishi UFJ Financial Group (MUFG), the fifth-largest financial group in the world as of this writing. Founded in 2017 and headquartered in New York, NY, PurePoint Financial is a hybrid digital bank. Like an online bank, it offers its customers convenient and secure access to their accounts through intuitive online and mobile banking options. However, somewhat like a traditional brick-and-mortar bank, PurePoint offers in-person service and advice through its “Financial Centers” in select markets across the United States. Although these Financial Centers do not provide cash deposits or withdrawals, customers can open accounts and update account information with the help of PurePoint’s trained customer service personnel at these Financial Centers.

Related Posts

PurePoint Financial Unveils 13-Month No-Penalty CD, 2.60% APY - 2/25/2019

PurePoint Financial (Internet bank) has added a 13-month No-Penalty CD (2.60% APY). Min deposit is $10k. One total balance withdrawal allowed with no penalty.

PurePoint Financial Raises Online Savings Rate To 2.35% APY - 1/4/2019

PurePoint Financial has added 20 bps to its Online Savings account, with balances of $10k+ now earning 2.35% APY. Balances of less than $10k still earn 0.25% APY.

Purepoint Savings Now 2.35% - 1/4/2019

PurePoint just upped their online savings rate to 2.35%.

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Good Experience

This month had a 18 month CD expire, within the 10 days grace period I was able to open a new CD at a good rate with half the money in the account and the other half I transferred to my other bank. Didn't have any problems, did it all on line without talking to anyone at Pure Point Bank, great bank.

I Love This Bank

Posted by: thebum45 | Jan 29, 2019

PuePoint is the best. I have dealt with Synchrony, Ally, Cit Bank, and Capital One and I would say that PuePoint is hands down the best. Transfers take one day. Not so with Ally & Synchrony. Great easy to use web site. Not so with Cit Bank or Capital One. Their savings rates are usually the highest out there. (As long as you have 10K in the bank). Best cd rates also. I think I'll keep them.


Rocky Start

Posted by: kj | Mar 1, 2017

opened a savings account and received an email that the transfer of funds was initiated at 12:27 pm on 2/28. thought all went smoothly as the funds showed in the account. then before going to bed, checked email and discovered that a 2nd transfer, that we did not authorize, was initiated at 9:07 pm for the exact same amount. our account now shows double the money it should, and the account from which the money was funded (pnc) is going to be overdrawn. unfortunately, customer service will not be available until 8 am.

it is now 3/1. i have been on the phone this morning for 4 hrs. over and over, i was told (by scott m) that we initiated a 2nd transfer request at 9:07 pm. however, during a 3-way call with pnc and purepoint rep heather, the pnc rep stated that 2 duplicate transactions were sent by purepoint to them at 6:36.17. finally, after 3 hrs and 45 minutes, the call was escalated. in the end, absolutely nothing can be done to stop the duplicate pending transaction. supervisor martena promised that purepoint will reject the 2nd transaction when it comes back to them tomorrow and they will pay all insufficient fund fees to pnc.

and the saga continues. it is now 5:30 pm and i just got a call from adam w the managing director of client services for purepoint. finally an apology and an admission of fault! he said they had identified the problem--a systematic error that he claims has never happened before in the 100s of accounts they have previously opened. interestingly, he thought the duplicate transaction had been put on hold and i had to inform him that it was still pending and that it was going to go through with insufficient funds. stay tuned to see if this mess is finally resolved.

this will be my last post. purepoint was to reject the duplicate transaction when it came to them on the morning of 3/2. i received a call that this did take place. it did not! it is still unclear to me exactly what happened, but i believe they accepted the transaction and then wired the money back to pnc. this action then set off a whole other chain of events that affected a cd which had simultaneously been opened at purepoint. so on march 3 (a friday) at around 8-8:30 pm there was another 3-way call with managers at pnc and purepoint. i now need to reapply for the purepoint cd as that money ended up back at pnc too.

i have got to hand it to purepoint for their customer service. i have the personal phone no. of a manager and he wants this to end as much as i. they however are unwilling to accept fault. i was repeatedly told that i had made the 2 transfers. then after the 1st 3-way call with pnc, i got a call saying that purepoint's IT people had found a systematic error. but the next day, it was back to i had made the duplicate transfers.

word of warning: do not open a purepoint savings account and a cd simultaneously unless you have online banking set up at your bank. i did not. i had 2 purepoint applications open, one for the cd and one for the savings account and that is where i believe the problem began.

and one final word of advice to scott m, the 1st customer service rep to whom i spoke. never ever say to a woman, "this is a joint account, would you prefer i speak to your husband."

update: 1 wk later, i received a much appreciated handwritten apology from Pierre Habis, President of Purepoint.

Hard To Xfer Money Out

Posted by: Honour | Apr 13, 2018

My experience banking with Purepoint Financial was not pleasant and found the bank on shaky ground. So was looking online for a bank who could provide me with a higher savings rate than the one I used to get an Ally Bank and found Purepoint to be providing one of the highest at the time. Upon finding out that the bank is FDIC insured I transferred all my savings into the bank. Used the services for more than a month and upon founding out there other banks are providing a better interest rate, decided to make a transfer. Just few hours into making a transfer, I got a call from the Fraud Division at the bank. I assumed since it is a big amount, they wanted to make sure that it has been authorized by me. But to my horror, the lady from the division started asking questions like Why are you making the transfer, You are not supposed to make such a huge transfer, you got to have majority of the balance in your account for atleast 2 months before you make such a huge transaction. She mentioned that it is in the fine print of the terms and conditions when you open an account

I was quite literally baffled and upset about all these questions which made absolutely no sense.
All I know is that me as a savings account customer, cannot make more than 6 transactions a month which I never exceeded.

There was clearly no logic or rule to what Purepoint was saying.

It was my legit money and only I decide when and where I need to use it and transfer.

I had a heated conversation telling Purepoint the same and she finally said we would allow this transaction only once.

Since all my savings was with them, I obviously did not wanted to get into a argument after she agreed to it. Otherwise I was so inclined to sue this bank for telling me all what they did and giving me a scare.

If I wanted to keep my funds for an extended period of time, I would keep it in a CD and not a savings account.

After that transfer, had few grand still left in the account. Quickly transferred that sum to another month starting next month since I had used all the 6 transactions for that month and removed all of my funds from it.

All I could think from the experience is that Purepoint Financial would not have many customer accounts with huge funds and any big transaction would shake their calculation on liquidity which they are supposed to have.

I would recommend staying away from this bank if one has $50K plus funds and savvy people who would immediately transfer to another bank if a better interest rate is available.

While using the account though, did not have any difficulties. Even though they do not have an app, it works fine with their online internet portal.





Health Grade Components

FDIC Certificate #22826
Year Established1979
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.81%
Return on Equity - YTD6.14%
Annual Interest Income$4.01B
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$130.8B$118.5B
LoansQ4 2018vs Q4 2017$85.23B$78.36B
DepositsQ4 2018vs Q4 2017$92.19B$86.66B
Equity CapitalQ4 2018vs Q4 2017$15.38B$16.40B
Loan Loss AllowanceQ4 2018vs Q4 2017$450.1MM$434.4MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$458.2MM$442.9MM
Real Estate OwnedQ4 2018vs Q4 2017$1.4MM$387.00K
  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.

Purepoint Savings Now 2.35%

WheelinDealin   |  
PurePoint just upped their online savings rate to 2.35%.

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PurePoint Financial Savings Account Rates

2.35%$10k-Online Savings

PurePoint Financial CD Rates

3.10%$10k-60 Month Online CD
3.05%$10k-48 Month Online CD
3.00%$10k-36 Month Online CD
2.90%$10k-30 Month Online CD
2.80%$10k-12 Month Online CD
2.80%$10k-24 Month Online CD
2.70%$10k-18 Month Online CD
2.70%$10k-15 Month Online CD
2.60%$10k-13 Month Online No-Penalty CD
2.25%$10k-14 Month Online No-Penalty CD
2.20%$10k-6 Month Online CD
2.15%$10k-11 Month Online No-Penalty CD

PurePoint Financial is an Internet only bank and does not have branch locations. Its headquarters is located at 1251 Avenue of the Americas - New York, NY 10020-1104

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 [email protected] 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.