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BankPurely VS EBSB Direct

Which bank is better for you?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 3.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
No Rate Information
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Pros:

  • Low opening amount required and no fees
  • Checking account earns interest
  • High-interest rates on accounts
  • No set balance to earn highest rates

Cons:

  • No business accounts offered
  • MMA has high opening balance
  • Not a wide variety of accounts
  • Accounts opened through another website
  • Financial Rates: 5.0 Star Icon
  • Customer Service: 4.0 Star Icon
  • Website Experience: 4.0 Star Icon
  • Bank Fees: 5.0 Star Icon
No Rate Information
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Pros:

  • High interest rates on accounts
  • No monthly maintenance fees
  • Accounts are entirely online
  • Debit card offered for MMA

Cons:

  • Limited deposit accounts offered
  • Highest rates require a large amount
  • MMA requires a large opening amount
  • Must link to another account
BankPurely Review

To open a BankPurely savings and checking account only requires $1. After the initial deposit, there is no amount required to keep in the account. There are no monthly maintenance fees. The BankPurely CDs only require $1,000 to open. There are four different CD terms available.

CheckingPurely account earns interest. The interest rates are competitive with other online checking accounts. The rates are much higher than your typical brick and mortar checking account rates. Free bill pay and mobile check deposits are available with the CheckingPurely account. There is no monthly fee or amount required to keep in the account.

All the accounts at BankPurely offer competitive interest rates. The account rates are much higher than your typical brick and mortar bank rates. They are competitive with other online-only accounts.

Any amount in the BankPurely accounts earns the highest interest rates offered. There is no specific amount required to earn competitive rates. Your balance will earn the highest interest rate, no matter what amount. The savings and checking account only need $1 to earn those rates. The CDs require $1,000. The MMA does require a higher amount of $25,000 to open and earn interest.

There are no business accounts currently offered through BankPurely. The only accounts are personal deposit accounts.

The money market account through BankPurely has a high opening required amount. The amount to open the account is $25,000. This account earns competitive interest rates. You receive an ATM card attached to the account.

BankPurely offers personal deposit accounts. There is only one savings account, one checking account, and one money market account offered. BankPurely does offer CDs, but there are only four different terms available. The CD terms are 12 months, 24 months, 36 months, and 60 months.

BankPurely is powered through iGObanking.com. To open a BankPurely account, you will be transferred to the iGObanking.com website. All the online banking functions are available under the iGObanking.com brand. Your account is through BankPurely, but the technology is through iGObanking.com. You will not see the BankPurely logo when you are opening an account. It is the right place to open the account as long as you see the iGObanking.com logo.

Read the full BankPurely review.

EBSB Direct Review

The EBSB Direct accounts offer competitive interest rates. The rates are competitive with other online-only accounts. They are much higher than your typical brick and mortar bank rates.

There are no monthly fees listed for the money market account. The only fee that applies to the CD is if you withdraw the money before the CD reaches the maturity date.

EBSB Direct accounts are entirely online accounts. You can apply for the accounts online. Everything for your account is online. The EBSB Direct accounts are not available through the EBSB branch locations. You can make transactions to your EBSB Direct accounts at a local branch.

The money market account with EBSB Direct offers a debit card for you to access your money. Federal regulations only allow six withdrawals per month from this money market account. There is a fee if you withdraw more than six times.

EBSB Direct only offers a money market account and one 14-month CD. There are no other personal deposit accounts offered. There are no specific business accounts offered.

To earn the highest interest rate offered on the MMA, you must have at least $10,000 in the account. The lower balances still earn interest, but a much lower rate.

To open the money market account offered through EBSB Direct, you must have $2,500. The 14-month CD requires $1,000 to open. Once you open the account, you are not required to keep a set amount in the account.

EBSB Direct only offers a money market account and CDs. To make electronic transfers, the accounts must connect to another account. Link your EBSB Direct account to any other financial institution in the United States. You can also link more than one account to your EBSB Direct account.

Read the full EBSB Direct review.

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