PurePoint Financial Review

How does your bank stack up?

  • Financial Rates: 3.5 Star Icon
  • Customer Service: 4.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon


  • High interest rates
  • No monthly fees or required amount
  • PurePoint Best Rate Commitment
  • Financial centers available


  • High opening deposits
  • CD deposit requires single transaction
  • Only savings account and CDs offered
  • Online transfers require linked account

What You Need to Know

PurePoint offers competitive interest rates. The rates for their savings account and CDs are high. Earn more money off your money with these accounts.

PurePoint savings account does not have monthly fees. There is no required amount to keep in the account. If you do not keep the $10,000 in the account, you will earn lower interest rates, but there is not a fee. The PurePoint savings account is free.

PurePoint CDs offer the Best Rate Commitment. This helps to ensure you earn the best interest rates for your CD. After the application is complete, you watch the interest rates for ten days. The best rate from that 10-day period is the rate you will receive for the term of the CD.

PurePoint is an online bank. There are no monthly fees. The interest rates are competitive with other online accounts. However, PurePoint offers the low fees and high rates and has some financial centers. PurePoint has over 20 financial centers in Florida, Illinois, New York, and Texas.

PurePoint requires a large amount to open the account. The savings account and CDs requires $10,000 as the minimum deposit. If you do not have $10,000 in the savings account, you will not earn the high-interest rates offered. You will still earn interest on amounts under $10,000, but it will be a much lower rate.

The CDs and savings accounts require a large opening deposit. That deposit for CDs must be in a single transaction. Ten thousand dollars must be in the account to earn the competitive interest rates.

PurePoint only offers a savings account and CDs. The CDs offered vary in terms from six-months to five-years. They offer nine CD terms. PurePoint does not offer a checking account or a money market account. No business accounts are available.

You must link your PurePoint savings account to an external bank account. Since PurePoint does not offer a checking account, an external bank account is necessary. This allows you to transfer funds online into and out of your PurePoint savings account. You can also transfer money into the account by sending a check in the mail, a wire transfer, or a mobile deposit.

Cool Things

Learning Center

On the PurePoint website is a section for financial learning. In the Learning Center, you can increase your understanding of topics. Those topics include the best saving habits and how to protect your finances online. Travel tips and saving for the next generation are other topics.

Hearing and Vision Impaired Services

PurePoint offers services to help their customers who are hearing and/or visually impaired. Customers can receive documents in Braille or large print. Documents are also available on CD or cassettes, or electronic text. PurePoint offers Telecommunications Devices for the Deaf. Text-to-speech software, voice recognition, and various viewing preferences are available.


PurePoint Financial started in 2017. This branch of banking opened to help people increase their savings account. PurePoint is a division of Mitsubishi UFJ Financial Group. Even though PurePoint is new, MUFG has been around for 150 years.

MUFG is the fifth largest financial group in the world. They have more than 140,000 employees in 2,200 offices. MUFG is currently available in nearly 50 different countries. Their assets total over $2.5 trillion.

A PurePoint survey found that Americans are not saving near what they should. MUFG started PurePoint for that reason. PurePoint has no account fees and high interest rates. This is helping Americans increase the amount in their savings accounts.

Awards and Recognition

  • One of ten clients to receive "2018 FIS Impact Award"
  • MUFG "2016 Project Finance Lender of the Year" by Power, Finance & Risk
  • MUFG "2016 Best Mandated Lead Arranger for North American and Latin America" by IJ Global

Giving Back

In 2016, MUFG donated nearly $1 million to help with affordable housing. The money was used in a variety of ways. For example, 70,000 people received stable housing through rental programs. Over 700 people were able to buy affordable housing. More than 6,500 affordable rental units were developed.

MUFG employees volunteered more than 37,000 hours in 2016. One place employees volunteered was at the San Francisco-Marin Food Bank. They prepared breakfast items for people in need. In the last 20 years, MUFG has donated $450,000 to the food bank.

MUFG offered grants to many small businesses. That money helped with the technical side of banking. Over 16,600 businesses received technical help. Twenty thousand jobs were created or retained, and over 2,000 new businesses opened. Those who received the grants and help saw a substantial increase in their businesses.

Frequently Asked Questions

Is This Bank FDIC insured?

Yes. PurePoint is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How do I access my money?

By linking your PurePoint account to an external bank account. You can then transfer money from your PurePoint account into your other bank account. You can also request a wire through online banking or request a certified check.

Does this bank offer mobile banking?

PurePoint does not offer a mobile app. You can access online banking through a mobile device. Mobile deposits can also be made from your smartphone.

Is this bank free?

Yes. The savings account offered from PurePoint is free. There are no monthly fees for that account.

Is this a good bank?

The interest rates are competitive with other online-only accounts. PurePoint savings account does not have any monthly fees. There are only a few branch locations. Everything with the account is online.

Is this bank secure online?

Yes. PurePoint encrypts information. They require passwords. You will be logged out after a period of inactivity. PurePoint also monitors your accounts for suspicious activity.

Does this bank offer competitive interest rates?

Yes. The PurePoint savings account and CDs offer very competitive interest rates. They are much higher than your typical bank interest rates. PurePoint is competitive with other online-only accounts.

Can I use this bank for my business accounts?

No. The only accounts offered are a savings account and CDs. No specific business accounts are available.

How is the online bank different from the online banking my bank offers?

The interest rates are much higher than your typical bank. Everything you need to do for your account is online. PurePoint offers a few financial centers, but everything is online.

Do their checking accounts pay interest?

No. PurePoint does not offer any checking accounts.

How do I reach customer service?

By phone or email. You can connect with PurePoint on Facebook, Twitter, and Instagram. You can also visit one of the PurePoint financial centers if you live in Florida, Illinois, New York, or Texas.

Does this bank offer bill pay?

No. Since PurePoint does not offer checking accounts, there are no bill pay options.

Can I deposit cash?

No. You cannot deposit cash into a PurePoint account. Deposits are made by mailing a check, a wire transfer, a mobile deposit, or an electronic transfer from a linked external account.

How long do transfers take?

Electronic and wire transfers are available the same business day. Checks are typically available the next business day. Other transfers may take three to five business days.

Can I sign up for direct deposit to this account?

Yes. You can have money directly deposited into your PurePoint savings account.

Bank Contact Information

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