
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
finder.com’s rating: 3.4 / 5.0
★★★★★
Up to 0.40%
APY
$0
Fee
$10,000
Minimum deposit to open
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.
The PurePoint Financial Savings account is best for those looking to earn more on their savings. You’ll get a competitive 0.4% APY and access to savings professionals to guide your banking experience.
If you’re able to meet the initial $10,000 deposit requirements and are looking for in-person assistance to guide your goals, this account could be a solid choice for your savings.
Opening an online savings account with PurePoint Financial has several advantages:
Your interest rate is the simple interest you’re paid on an account or an investment over a year. For example, if you’ve invested $1,000 into an account that comes with 1% interest, you’ll have earned $10 on that investment at the end of a year.
The annual percentage yield is a bit trickier. An APY is an effective annual rate of return that takes into account the effect of compounding interest over a year. In short, it’s the interest rate compounded monthly over the year. Learn more about savings accounts.
The PurePoint Financial savings account offers smart ways to save, but keep a few factors in mind before you apply:
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.
Liza Schneider
Client Services
About two years ago, I started to notice ads all over New York City for a bank I’d never heard of called PurePoint Financial, offering CDs at high interest rates. Having been a client of Capital One 360 for years, I was interested in finding a savings product that would deliver higher returns than a standard savings account. I checked out PurePoint and ultimately made the move.
The signup process was straightforward. Everything was online. I created an account and transferred the funds.
Initially, I opted for a 12-month CD with a relatively small deposit. But this year I renewed the CD at 18 months, taking advantage of a higher interest rate of 2.69% while tripling the deposit on the CD. I never received a phone call from the bank for the 12-month CD, but I did have to answer a series of questions — What do you do for a living? What will you use these funds for? — to a live person on the phone once I increased the CD amount.
As a side note, I am so pleased with PurePoint’s interest rates, I convinced my husband to transfer all of our savings into a PurePoint savings account at 0.4% currently. The only negative is that PurePoint has no mobile app. But because we don’t touch these funds often, unlike a checking account, the lack of a mobile app isn’t an issue for us.
Even though the PurePoint high-yield savings account is an online-only account, there are still a number of ways to transfer funds:
You can contact PurePoint’s customer service team in three different ways:
★★★★★ — 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.