BankPurely SavingPurely account review
An online savings account with an environmental twist — but the APY is only 0.25%.
finder.com’s rating: 3.9 / 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.
Minimum deposit to open
Shannon Terrell is a senior writer for Finder who has written over 400 personal finance guides. With a focus on investments and personal finance, she breaks down jargon-laden topics to help others make informed financial decisions. She studied communications and English literature at the University of Toronto.
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.
How do I open a BankPurely SavingPurely account?
Open your BankPurely savings account online in five steps:
- Go to the provider’s site and follow the steps to apply.
- From BankPurely’s website, click Apply Now.
- Click on the SavingPurely tab and click Apply Now.
- Enter your name, email address and phone number and click Continue.
- Enter the confirmation code that was sent to your email and click Continue.
- Follow the steps to fill out your application, verify your identity, fund your account and submit your application.
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
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
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
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.
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