Featured Savings Rates
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PurePoint Financial

Popular Accounts at this Bank

1.40%SavingsOnline Savings
1.55%1-year CD12 Month Online CD
1.75%3-year CD36 Month Online CD

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 Raised All Of Its CDs - 11/12/2017

12 month to 1.55% from 1.35% 18 month to 1.60% from 1.45% 24 month to 1.70% from 1.50% 36 month to 1.75% from 1.65%

PurePoint Financial Ups Online Savings Account Rate to 1.40% APY - 11/10/2017

The Online Savings Account rate was raised today by 10 bps to 1.40% APY on balances of $10k or more; balances less than $10k continue to earn 0.25% APY.

1.75% 18 Month CD / 1.30% Savings In Chicagoland - 8/27/2017

In today’s Chicago Tribune 1.75% APY 18 month Purepoint CD $10,000 minimum deposit Exclusive Financial Center Rate 1.30% APY Purepoint Savings $10,000 minimum deposit Skokie 9234 Skokie Blvd. 224.998.2097 Glendale Heights 179 W. Army Trail Rd. 847.610.8031 La Grange 1 N. La Grange 630.490.0006

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Satisfied With Purepoint And Sticking With Them For Now

Posted by: Kaight | Nov 15, 2017

I have had good experience with PurePoint and have encountered, frankly, zero problems. Am writing now only because they obviously are monitoring this thread and I want to send a message:

I have never initiated any sort of funds transfer at PurePoint. All transfers are initiated at Alliant, where ACH service both ways (push or pull) is overnight. Overnight ACH service is something upon which I rely, and PurePoint has never failed to honor an ACH pull request initiated at Alliant. The funds are always in my Alliant hub account the next day.

If PurePoint, in future, ever fails to honor an ACH pull request, initiated at Alliant, I will be gone so fast as a customer their heads will spin. And I will publicize any such action on their part as widely as I am able.

People need timely access to their funds. I read too many horror stories about PurePoint reacting slowly when customers need their money. I assume those customers are initiating their funds movement requests at PurePoint, not at an outside financial institution. I have no issue with PurePoint's handling of such requests, initiated in house. That is not something I ever would do. But if they ever are slow to fulfill an ACH withdrawal request initiated externally, I am gone as a customer.


Posted by: redfarm | Nov 10, 2017

1) Opening the savings account on-line was like a hot knife through butter - only a few moments. No need to upload a drivers license, social security card and utility bill (speaking of Live Oak).

2) An ACH transfer, push and pull, usually appears in the savings balance the same day. And the limit is $250,000 daily, not a few thousand dollars like many other banks.

3) Customer service has been friendly and helpful.

4) The interest rate is either the highest, or near the highest, offered by banks. If the interest rate lags behind the top (not far) then typically within a few months it's readjusted higher at, or close to, the top with at least $10,000 deposited.

5) No maintenance fees and no minimum balance after the initial deposit.

6) I use this account to earn higher interest on my savings, but not as a 'hub' for other banking activities. It does not provide a card for cash ATM withdrawals, nor a service for paying bills online.

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.

Purepoint Is Pure Hell

Posted by: SparkDogg | Nov 9, 2017

PurePoint is a horrible institution - they really have no idea how to run an online bank. It took four days for an ACH deposit to become available. When questioned about it they decided to close my account. When I asked them to ACH the deposit back to the bank it came from they said my bank had to initiate the transfer. When pressed they finally agreed to initiate the transfer. It took three attempts for them to get the instructions right. If you get passed to someone beyond a customer service rep be prepared for rude and defensive individuals, none of who has the authority to make a decision. And don't hold your breath waiting for them to return a call or to follow-up in the time frame they promise. There are plenty of online banks with the competitive rates and much more savvy about the online experience including Ally, Synchrony, Capital One, American Express Bank. Avoid PurePoint like the plague!



Health Grade Components

FDIC Certificate #22826
Year Established1979
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.79%
Return on Equity - YTD5.67%
Annual Interest Income$1.68B
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$116.7B$116B
LoansQ2 2017vs Q2 2016$76.35B$78.64B
DepositsQ2 2017vs Q2 2016$86.96B$83.34B
Equity CapitalQ2 2017vs Q2 2016$16.49B$15.94B
Loan Loss AllowanceQ2 2017vs Q2 2016$476.6MM$714.2MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$547.9MM$786.0MM
Real Estate OwnedQ2 2017vs Q2 2016$1.7MM$88.9MM
  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 Raised All Of Its CDs

SYC   |  
12 month to 1.55% from 1.35%
18 month to 1.60% from 1.45%
24 month to 1.70% from 1.50%
36 month to 1.75% from 1.65%

1.75% 18 Month CD / 1.30% Savings In Chicagoland

miked   |  
In today’s Chicago Tribune

1.75% APY
18 month Purepoint CD
$10,000 minimum deposit
Exclusive Financial Center Rate

1.30% APY Purepoint Savings
$10,000 minimum deposit

9234 Skokie Blvd.

Glendale Heights
179 W. Army Trail Rd.

La Grange
1 N. La Grange

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

PurePoint Financial Savings Account Rates

1.40%*$10k*-Online Savings
OTHER TIERS: 0.25% Up to $10k

PurePoint Financial CD Rates

1.75%$10k-36 Month Online CD
1.70%$10k-24 Month Online CD
1.60%$10k-18 Month Online CD
1.55%$10k-12 Month Online 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