At a glance

4.3

Bankrate Score

CDs

Checking

Savings

MMA

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

Overview

Consumers looking for a bank that supports environmental initiatives may find BankPurely a good choice. It offers a range of deposit products, many with competitive APYs and none featuring monthly maintenance fees.

Highlights

High APY
Free Checking

Overall

BankPurely is a financial institution created for environmentally conscious consumers offering a large range of deposit products, including a savings, checking and money market account along with two standard CDs.

Pros

BankPurely provides an eco-friendly banking option for environmentally conscious consumers.
All deposit products pay APYs above the national average or better.
Account holders have free access to thousands of ATMs.
Digital banking features are available, including access to Zelle and Bill Pay.

Cons

Only one CD term is offered.
A steep $25,000 deposit is needed to open the money market account and earn interest.
The savings and money market accounts are limited to six withdrawals per month.
There’s a $1,500 point-of-sale transaction limit for the checking account.

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BankPurely banking products

3.9

/5

See methodology Compare savings rates

SCORE BREAKDOWN

APY offering:

1.50%

3/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.

Minimum balance for APY:

$100.00

4/5

The lowest deposit amount an account must have before it can earn interest.

Monthly service fee:

$0.00

5/5

A monthly charge a financial institution deducts from an account if certain requirements are not met.

Minimum balance to avoid fee:

$0.00

5/5

The lowest balance an account must maintain in order to avoid a fee.

Access to funds:

Great

5/5

A procedure that allows an individual or organization to access and manage the funds of another account holder.

FEATURES

1.50% APY

APY last updated between 11/14 and 11/20.

$100 minimum balance for APY

$100 minimum deposit to open

BankPurely savings overview

BankPurely’s SavingsPurely savings account pays an APY that’s above the national average, though consumers searching for more competitive yields can easily find higher rates elsewhere. The account requires only $100 to open, and it doesn’t charge a monthly fee.

Pros

BankPurely’s savings account requires only $100 to open.
There’s no monthly service fee.

Cons

The APY is above the national average, but you can find higher yields elsewhere.
Withdrawals are limited to six per month.

Rate history for BankPurely's Savings account

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

BankPurely

APY

APY last updated between 11/14 and 11/20.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

BankPurely

APY

APY last updated between 11/14 and 11/20.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

3.8

/5

See methodology Compare CD rates

SCORE BREAKDOWN

APY offering:

4.15%

4/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less.

Minimum deposit:

$1,000.00

4/5

The minimum deposit amount a financial institution requires in order to open a CD.

Range of term lengths:

1 yr – 5 yrs

3/5

A designated amount of time that funds must be held within a CD.

Early withdrawal penalty:

Average

3/5

A penalty incurred when funds have been withdrawn from a CD before its maturity date.

Offer no-penalty or bump-up CDs:

No

0/5

A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date.

Offer IRA CDs:

No

0/5

An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.

FEATURES

0.15% – 4.15% APY

APY last updated between 11/14 and 11/20.

$1,000 minimum balance for APY

$1,000 minimum deposit to open

1 year – 5 years

BankPurely CD overview

BankPurely offers what it calls PurelyCDs. The bank offers a one-year and a three-year CD. Both pay an APY that’s well above the national average and competitive with what some other online banks offer. Its $1,000 minimum opening deposit is in line with many competitors. Savers looking for a range of CD terms or a specialty CD will have to look elsewhere.

Pros

BankPurely’s one-year CD requires only $1,000 to open.
The bank offers a competitive yield.

Cons

Only two standard terms are offered.
The bank doesn’t offer any specialty CDs.

Rate history for BankPurely's CD accounts

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

BankPurely

APY

APY last updated between 11/14 and 11/20.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

BankPurely

APY

APY last updated between 11/14 and 11/20.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

4.1

/5

See methodology Compare MMA rates

SCORE BREAKDOWN

APY offering:

4.00%

4/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.

Minimum balance for APY:

$25,000.00

1/5

The lowest balance an account must maintain in order to earn interest.

Monthly service fee:

$0.00

5/5

A monthly charge a financial institution deducts from an account if certain requirements are not met.

Minimum balance to avoid fee:

$0.00

5/5

The lowest amount an account must maintain in order to avoid a fee.

Check writing:

Yes

5/5

The ability to write a certain amount of checks within a statement cycle.

Debit/ATM access:

Good

4/5

The ability to withdraw funds from an account through the use of debit or ATM card.

BankPurely money market overview

BankPurely’s PurelyMoneyMarket pays a competitive APY. There’s no monthly service fee, but account holders need to deposit at least $25,000 to earn interest.

The account doesn’t include check-writing privileges but does come with a complimentary ATM card.

Pros

The PurelyMoneyMarket account offers a strong APY.
There’s no monthly service fee.
Account holders can get a free ATM card.

Cons

There’s a steep $25,000 deposit needed to earn interest.
There’s a six-per-month withdrawal limit.

4.5

Bankrate Score

Compare top checking rates

BankPurely checking overview

A $100 deposit is required to open BankPurely’s checking account, called CheckingPurely. The account doesn’t charge a monthly fee. Account holders get a free Mastercard BankPurely debit card and free access to more than 55,000 Allpoint ATMs.

Customers can make peer-to-peer transactions through Zelle and use Bill Pay and make mobile check deposits through BankPurely’s mobile app.

Pros

The CheckingPurely account doesn’t charge a monthly fee.
Account holders have free access to thousands of ATMs.

Cons

You may not exceed $1,500 in point-of-sale transactions per day.

Compare Offer

Bank fees

Fee	Charged?
Overdraft fee	None
Non-sufficient funds fee	None
Monthly maintenance fee	None
Out-of-network ATM fee	None
Excessive transaction fee	None

About BankPurely

BankPurely, a division of Flushing Bank, is a financial institution created for environmentally conscious consumers. The bank has no branches, helping to reduce its carbon footprint, and uses paperless bill pay and e-statements. BankPurely even says it will plant a tree for every account opened.

Customer experience

Customer service. Customer service representatives are available 24/7.

Digital experience. The bank offers online banking as well as a mobile app for iOS and Android devices, though reviews on either version of the app are scant. Customers can deposit checks through the app.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	BankPurely APY APY last updated between 11/14 and 11/20. APY last updated between 11/14 and 11/20	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
11/05/2024	1.50%	0.56%
10/01/2024	1.50%	0.57%
09/03/2024	1.50%	0.61%
05/07/2024	1.50%	0.59%
04/02/2024	1.50%	0.58%
03/05/2024	1.50%	0.57%
01/02/2024	1.50%	0.58%
12/05/2023	1.50%	0.57%
11/21/2023	1.50%	0.61%

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	BankPurely APY APY last updated between 11/14 and 11/20. APY last updated between 11/14 and 11/20	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/01/2024	0.15%	1.42%
09/03/2024	0.15%	1.43%
08/06/2024	0.15%	1.44%
07/09/2024	0.15%	1.42%

BankPurely Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

We want to know what you think about BankPurely

BankPurely banking products

BankPurely savings overview

Pros

Cons

Rate history for BankPurely's Savings account

BankPurely CD overview

Pros

Cons

Rate history for BankPurely's CD accounts

BankPurely money market overview

Pros

Cons

BankPurely checking overview

Pros

Cons

Bank fees

About BankPurely

Customer experience

Review methodology

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