-
Financial Rates:
4.0
-
Customer Service:
4.5
-
Website Experience:
4.0
-
Bank Fees:
5.0
Pros:
- Dividend Rewards earns great rates
- No monthly maintenance fees
- CDs offer good rates
- Low opening required amounts
Cons:
- Must become a member first
- Tiered interest rates
- High opening amount for Instant Access
- Low daily ATM withdrawal amount
-
Financial Rates:
1.5
-
Customer Service:
3.0
-
Website Experience:
4.0
-
Bank Fees:
5.0
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
The Dividend Rewards checking account earns competitive interest rates. To earn the most competitive rate has some requirements. You must have 12 debit card purchases each month and have one direct deposit or ACH withdrawal. You must also receive electronic statements. The competitive rate is for any balance from $0.01 to $15,000. Balances over $15,000 earns a lower rate.
First Tech savings and checking accounts do not have monthly fees. There is no minimum balance required to keep in the account to waive the monthly fees. These accounts are free.
The CDs offered through First Tech offer good interest rates. The terms range from six-month to 60-month terms. Each of the terms earns rates slightly lower than other online CDs. Each traditional CD term requires $500 to open.
First Tech has low required amounts to open their accounts. The checking accounts require $0.01 to open. Two of the savings accounts require $0.01 or $5.00 to open. Each of the CD terms requires $500 to open.
To open an account with First Tech, you must be a member of the credit union. You are eligible to be a member if you work for certain tech companies or the state of Oregon. If you live or work in Lane County, Oregon, you are eligible. Immediate family members of members are eligible. You can also become a member by joining the Computer History Museum or the Financial Fitness Association.
The Instant Access savings account with First Tech has tiered interest rates. To earn the most competitive rate, you must have a balance over $250,000. Lower account balances earn interest, just not the most competitive rate.
The Instant Access savings account has a high opening required amount. To open the account requires $5,000. There is no monthly fee for this account. Interest rates for the Instant Access account are tiered.
First Tech members can only withdraw $500 per day, per cardholder, from First Tech ATMs. Other ATMs may allow for a higher withdrawal, but you may face a fee. If you need more than $500 at one time, visit a branch location.
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.
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.