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BankPurely SavingPurely account review

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An online savings account with an environmental twist — but the APY is only 0.25%.

finder.com’s rating: 4.7 / 5.0

★★★★★

The BankPurely SavingsPurely account has an environmentalist twist — the company plants one tree for every account that’s opened. But the APY is only 0.25%, which is lower than competing accounts.

0.25%

APY

$0

Fee

$100

Minimum deposit to open

Details

APY0.25%
Fee$0
Minimum deposit to open$100
Minimum balance to earn interest$0
Interest compoundingDaily
Monthly transaction limit6
More Info

Expert review

Shannon Terrell

Review by


Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.

Expert review

BankPurely’s online savings account is best for environmentally-conscious individuals who want a savings account that does good. BankPurely plants a tree for every account that’s opened. Plus, you get to take advantage of no monthly fees and a large ATM network.

But the account only earns a 0.25% APY and you need at least $100 to get started.

What are the benefits of a savings account with BankPurely?

BankPurely’s online savings account comes with several competitive advantages that can help you save:

  • No fees. Pay no maintenance charges or associated fees to own this account.
  • Earns interest. This account earns 0.25% APY, which is higher than the national average but lower than other online savings accounts.
  • Wide ATM network. Access your money easily at any of 55,000 surcharge-free ATMs worldwide.
  • Plant a tree. For every savings account opened, BankPurely plants one tree with Plant-It 2020 in New York state.

What should I look out for?

For green banking on the go, the BankPurely savings account is a solid option. But there are a few potential drawbacks to keep in mind.

  • Opening deposit. You’ll need at least $100 to open an account, which is higher than other banks that let you get started with as little as $0.
  • Domestic wire transfer fee. You’ll pay a $15 fee on all domestic wire transfers.
  • ATM fee. If you go outside the BankPurely ATM network, you’ll pay a $3 fee to withdraw cash.
  • Limited monthly transactions. Like most high-interest savings accounts, monthly transactions top out at six.

If you’re looking for an account with a lower opening deposit, you’ll want to keep looking. As always, compare your options when choosing a savings account.

Compare BankPurley savings with other accounts

$
$
months
Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned More info
Citibank® Account Package

0.13% on $500,000+
0.08% on $25,000 to $99,999.99
0.04% on $0 to $24,999.99
$25 per month
(can be waived)
$0
Go to site
View details
Earn a $400 bonus after opening new eligible checking and savings accounts and completing required activities.
American Express® Personal Savings High Yield Savings
0.60%
$0
$0
Go to site
View details
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
CIT Bank Money Market
0.60%
$0
$100
Go to site
View details
A savings account with a higher-than-average rate and minimal fees.
Chase Savings
0.01%
$5 per month
(can be waived)
$0
Go to site
View details
A simple savings account with low, waivable monthly fees and a $150 signup bonus when you meet deposit and balance requirements.
Aspiration Spend & Save Account

1.00% on $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
$0
$10
Go to site
View details
A spend and save combo account with no monthly service fees, free access to every ATM in the world, unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
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How do I open a BankPurely savings account?

Open your BankPurely savings account online in five steps:

1. Go to BankPurely’s website and click Apply Now.
2. Click on the SavingPurely tab and click Apply Now.
3. Enter your name, email address and phone number and click Continue.
4. Enter the confirmation code that was sent to your email and click Continue.
5. Follow the steps to fill out your application, verify your identity, fund your account and submit your application.

Eligibility

Open an account when meet these requirements:

  • Be a US citizen
  • Be at least 18 years old
  • Have a valid Social Security number or taxpayer ID
  • Have a physical US address

Required information

To open a BankPurely savings account, you’ll need to provide:

  • Your Social Security number
  • Your current home address and a previous home address, if you’ve lived at your current address for less than two years
  • Your current US bank account and routing number

How do I deposit or withdraw my money?

There are several convenient ways to access funds with BankPurely:

  • Online deposit. Transfer funds electronically to and from an externally linked bank account up to six times monthly.
  • Direct deposit. Set up direct deposit into your BankPurely online savings account using your account number and BankPurely’s routing number.
  • Mail a check. Make the check payable to yourself and mail it to BankPurely c/o iGObanking.com, P.O. Box 9000554, East Meadow, NY 11554.
  • Wire transfer. Set up a wire transfer to any account held with another US financial institution for a $15 fee.
  • Mobile deposit. Snap a picture of your check with your mobile device and upload the photo to your online account.

How do I get in touch with customer service?

You can contact BankPurely’s customer service in two different ways:

  • Phone. Call 888-432-5890 Monday through Sunday, 7 a.m. to 11 p.m. ET.
  • Email. Fill out the secure online form on BankPurely’s website to receive a reply by email within 1-2 business days.

Frequently asked questions

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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