PurePoint Financial is no longer doing business under that name because it has been merged or acquired. See the successor institution US Bank.
Related Posts
8/21 - Purepoint Dropped To 0.60%
7/10 - Purepoint Cuts Savings Rate To 0.8%
6/12 - Purepoint Drops To 1.0% APY
5/16 - Another Rate Cut
5/15 - PurePoint Drops Another 25 Basis Points
3/16 - Online Savings Rate Reduced To 1.50% APY
3/13 - Savings Drops To 1.5%
3/4 - Massive Cuts To CD Rates!
2/7 - Purepoint Online Savings Drops To 1.70%
8/16 - Purepoint Savings Rate Drop
7/11 - Savings Rate Cut To 2.15% Tomorrow
6/28 - Purepoint. Cuts NPCD Rate
4/28 - Purepoint Financial
4/5 - Purepoint Cuts NPCD Interest Rate
2/25 - PurePoint Financial Unveils 13-Month No-Penalty CD
1/4 - PurePoint Financial Raises Online Savings Rate
1/4 - Purepoint Savings Now 2.35%
9/28/18 - PurePoint Financial Ups Online Savings Rate
9/28/18 - Purepoint Online Savings Increased To 2.15%
8/10/18 - PurePoint Financial Ups 12-Month Online CD
8/10/18 - 2.6% APY For 12 Month CD
5/30/18 - PurePoint Financial Online Savings Rate Jumps
5/30/18 - PurePoint Financial Raises All CDs - Notably 3% APY For 36 Months
5/30/18 - Purepoint Savings 1.90%
5/9/18 - More Than Just An Internet-Only Bank
4/6/18 - PurePoint Financial Raises Online Savings
4/6/18 - Online Saving Rate Increased To 1.75% APY
2/25/18 - 2.50% APY 24-Month CD In South Florida - Purepoint Financial
1/29/18 - 2.50% 24 Month CD / 2% 12 Month CD In Chicagoland
1/24/18 - PurePoint Financial Ups Savings APY - Higher Local Rates
1/24/18 - More Rate Increases - Purepoint 1/24/2018
1/24/18 - Purepoint Online Savings Rate Now 1.6%
11/12/17 - Purepoint Raised All Of Its CDs
11/10/17 - PurePoint Financial Ups Online Savings Account Rate
8/27/17 - 1.75% 18 Month CD / 1.30% Savings In Chicagoland
8/7/17 - Exclusive Financial Center Rate In South Florida - 1.75% 18 Month CD
8/4/17 - PurePoint Financial Raises Online Savings Rate
3/22/17 - New Internet Bank, PurePoint Financial, Debuts Top National Rate
3/18/17 - 12 Month CD Rate Increase To 1.45%
Great Service & Terrible Rates
I opened my account here right after they started due to their great rates. I always experienced great service when needed, however, it looks like they have thrown in the towel as far as rates go. I can't afford to leave my money here at such low rates so I closed my account. I expected to lose a little interest because it was a few days past the end of the month but was surprised when they paid me interest right up to the closing date. Sad to see them give up.
Rocky Start
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.
Great Account Over Time
I have now been dealing with PurePoint for over 3 years. I have NEVER had a hassle or real problem.
My opinion of Customer service is because I have had minimal need to even contact them.
I wanted account set up with my living trust as owner and it was done.
When you need your money, it is quickly available through ACH. Always arriving the next day
Rates go up and rates go down but they usually are at or near the highest and they DO send you an email when they change the rate going down. Few other banks send any notices.
Two very minor problems. It never wants to remember browser when using 2FA and get duplicate confirms - one as named account owner and one as trustee of living trust account owner.
Had A Great Experience With Purepoint
At the time I first opened my CD their rates were among the best. No problem opening the account and setting up monthly interest transfers. On the rare occasion I had to contact customer service they responded quickly. Their CD rates are not as competitive as they once were so I closed my account when it matured which was easily accomplished online. I had the funds in my external account within a couple of days. I wish all banks were that easy to do business with. If Purepoint's rates go back up I wouldn't hesitate to open another account.
We do not have health information for PurePoint Financial, because it is no longer an operational bank.