PurePoint Financial Review 2023
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At a glance

CDs
Savings
About Bankrate Score
Overview
PurePoint Financial is an option for customers searching for an online-only bank that offers a savings account and a selection of CDs.
Highlights
- No Monthly Fees

Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
PurePoint is an online-only bank that offers a savings account and a range of CD terms, including no-penalty CDs.
Pros
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PurePoint offers a range of CD terms.
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The bank has three penalty-free CDs.
Cons
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There are more competitive rates available elsewhere.
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PurePoint Financial does not yet offer a mobile app.
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Product selections are limited to CDs and savings.
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The minimum to open a savings and CD account is high.
PurePoint Financial bank products
PurePoint Financial savings overview
Balances below $10,000 earn a yield less than the national average. The APYs on PurePoint’s two balance tiers aren’t competitive for an online bank. Consumers with less than $10,000 in savings can find better yields at other online banks.
The account doesn't offer an ATM card.
PurePoint Financial’s Bankrate Score for savings declined from a 4.7 in 2022 to a 2.9 in 2023.
Pros
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The account offers a higher APY than the national average.
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There are no monthly service charges.
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The bank doesn’t have fees on incoming domestic wire transfers.
Cons
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The APY on its savings account isn’t competitive with most online banks.
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An ATM card isn’t available.
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There are lower minimum balance requirements elsewhere.
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Balances less than $10,000 earn a significantly lower APY.

Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank experience
PurePoint Financial is an online-only bank that offers a savings account as well as a selection of certificates of deposit that include three terms of no-penalty CDs. All accounts require a $10,000 minimum opening deposit. PurePoint is a division of MUFG Union Bank, itself a subsidiary of Mitsubishi UFJ Financial Group, one of the largest banks in the world.
You can reach PurePoint Financial from 9 a.m. to 7 p.m. Eastern during the week.
About PurePoint Financial
PurePoint Financial is an online-only bank that offers savings accounts as well as a selection of certificates of deposit that include three terms of no-penalty CDs. All accounts require a $10,000 minimum opening deposit. PurePoint is a division of MUFG Union Bank, itself a subsidiary of Mitsubishi UFJ Financial Group, one of the largest banks in the world.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.