Savings Questions

  1. When is the best time to close my PurePoint Savings account?
    Clients with Savings account(s) should proactively close their account(s) now using the Self-Service Account Closure tool in Online Banking. If your Savings account(s) are still open on April 28, 2023, your account(s) will automatically be closed, and we will mail a check to the address on file. 

  2. How do I close my Savings account? 
    1. Visit PurePoint Financial | Sign In 
    2. Log into Online Banking 
    3. Click on the Account you wish to close 
    4. Click ‘Show More Details’ in upper right-hand corner in red font 
    5. Under ‘Make Changes’ click the ‘Close Account’ button 
    6. On the next page, from the ‘Transfer Balance To’ drop-down window, select your preferred external account. (Clients without linked accounts will see check delivery information) 
    7. Click the ‘Close Account’ button on the bottom 
    8. Click ‘OK’ to complete the request

    Or contact us at 833-787-3764 Monday – Friday, 9:00 a.m. – 7:00 p.m. Eastern Time (except Federal holidays) and our specialists will be happy to assist you.

  3. How do I link an external account for transfers and closing purposes?
    In Online Banking, you can link an external account at another financial institution and make transfers between your accounts. After you sign in, select Transfers and then Link New Account. You’ll need to provide the external account number, routing number and the account type. The routing number is a 9-digit number you can find at the bottom of your checks or by contacting your external financial institution.

    NOTE: Your other institution may make two small trial deposits to your PurePoint account to verify ownership. At their discretion, they may also withdraw these trial deposits.

  4. What changes can I expect to Deposit transactions? 
    • Funds transfers initiated through PurePoint can no longer be completed after April 14, 2023. 
    • Mobile check deposits and mailed check deposits will no longer be accepted after April 14, 2023. 
    • Electronic deposits (ACH) and wires that are initiated through external financial institutions will be rejected after April 28, 2023, due to account closure. Please cancel these transfers with the external financial institution prior to this date to avoid any delays of access to your funds.

  5. What changes can I expect for Withdrawal transactions?  
    • For full balance transfers please use the Savings closure steps referenced above before April 28, 2023. 
    • Transfers of less than your full balance can no longer be completed through PurePoint after April 14, 2023. 
    • All pre-scheduled/recurring funds transfers initiated through PurePoint will be canceled after April 28, 2023, due to account closure. 
    • Wire requests initiated through PurePoint will no longer be accepted after April 27, 2023.

  6. What changes can I expect to Online Banking?
    • After April 14, 2023 requests for transfers of less than your full balance (incoming or outgoing) will no longer be available.
    • The account closure tool will remain available for full balance transfers until April 28, 2023.
    • April 29 – June 30, 2023 you will have read-only access to Online banking which will allow you to update contact information, view and download historical statements and tax documents. We recommend downloading these documents prior to  June 30, 2023.
    • After June 30,2023 online banking through purepoint.com will no longer be available.

  7. How do I close my Savings account using a wire transfer?
    To close your Savings account using wire transfer, please follow these steps:
    1. Go to purepoint.com and log into Online Banking
    2. Select Documents
    3. Select Forms
    4. Select Open to Request a Wire and complete the wire request 
Please note, once the request is submitted and reviewed you will receive a call back from PurePoint Operations to confirm the wire request at the phone number on file. If PurePoint Operations is unable to speak with you, you must return the call before 4:00 p.m. Eastern Time.

Certificate of Deposit (CD) Account Questions

  1. What if my CD renews on or before April 28, 2023?
    No action is required. If your CD account(s) mature on or before April 28, 2023, your account(s) will be closed upon maturity, and we will mail a check to the address on file.

  2. What if my CD matures after April 28, 2023?
    No action is required. If your CD account(s) mature after April 28, 2023, your account(s) will automatically be closed on our last day of business. At that time, we will mail you a check to the address on file that includes interest through the end of your term and all Early Withdrawal Penalties will be waived.

    As a reminder, if you decide to close your CD before April 28, 2023, Early Withdrawal Penalties will be assessed and interest through the end of your term will not be paid. We encourage you to keep your CD open for interest paid out through end of term and Early Withdrawal Penalty waiver.

  3. Will I be charged an early withdrawal fee and lose any interest earned if I close my CD account prior to PurePoint closing?
    Yes. To ensure your interest is paid through the end of your term and Early Withdrawal Penalties are waived, no action is needed at this time. When PurePoint closes, we will close your CD account and mail a check to the primary account owner or Trust address on file.

  4. Where can I find the terms for my CD?
    You can find the Certificate of Deposit Product Guide at purepoint.com.

    As a reminder, if you decide to close your CD before April 28, 2023, Early Withdrawal Penalties will be assessed and interest through the end of your term will not be paid. We encourage you to keep your CD open for interest paid out through end of term and Early Withdrawal Penalty waiver.

General Questions

  1. When will PurePoint Financial close?
    The closure of accounts is scheduled to occur April 28, 2023. Our Client support center and select online banking services will remain available until June 30, 2023.

  2. What is the best way to stay in the know about changes at PurePoint?
    Please ensure your address, email, and phone number are accurate for all account owners including Trusts so that you can receive important communications in the coming weeks via email and U.S. Mail.

    How to update your contact information:
    1. Visit purepoint.com
    2. Log into Online Banking
    3. Click on My Profile
    4. Click on Contact Information
    5. Click on Edit
    6. Update attribute(s)
    7. Save

    If you have any questions, please visit purepoint.com/faq or call the PurePoint Client Support Center at 833-787-3764 Monday – Friday, 9:00 a.m. – 7:00 p.m. Eastern Time (except Federal holidays).

  3. When you close my account, how will I receive my money?
    We will mail a check for each account closed to the primary account owner or Trust address on file.

  4. Who do I contact if I have questions regarding the PurePoint closure or my account?
    If you have any questions, please visit purepoint.com/faq or call the PurePoint Client Support Center at 833-787-3764 Monday – Friday, 9:00 a.m. – 7:00 p.m. Eastern Time (except Federal holidays).

  5. Is the process of closing my account secure?
    Rest assured, your security and privacy are our highest priorities, and we help protect your information in a variety of ways. To learn more about our online security practices, visit purepoint.com/online-banking/online-security.

    We also suggest that you take precautions such as keeping your User ID and password safe, running an updated version of your virus protection software, and notifying us immediately if you suspect fraudulent activity.

    If you decide to close your CD before PurePoint closes, Early Withdrawal Penalties will be assessed and interest through the end of your term will not be paid. We encourage you to keep your CD open through April 28, 2023, for interest paid out through end of term and Early Withdrawal Penalty waiver.

  6. Is there a limit on the dollar amount I can withdraw to close my account?
    Yes, there are limits on the dollar amount you can withdraw to close your account. Below, please find a summary of withdrawal limits. To learn more, please visit purepoint.com/online-banking/disclosures.
    • Check: Unlimited
    • Wire: Unlimited
    • ACH (Bank to Bank) Transfer:
      • Per Business Day Withdrawal limit: $250,000
      • 30 calendar day rolling period: $1,000,000
    • If you are closing your CD using the Self-Service Account Closure tool (SSAC) via ACH, the amount is limited to $250,000. 
    • If you wish to close and transfer more than $250,000 from your PurePoint account in a single business day, you might consider sending a wire.

    If you decide to close your CD before PurePoint closes, Early Withdrawal Penalties will be assessed and interest through the end of your term will not be paid. We encourage you to keep your CD open until PurePoint closes (April 28, 2023) for interest paid out through end of term and Early Withdrawal Penalty waiver.

  7. What is PurePoint’s routing number?
    Please use the following PurePoint routing number: 122238310

  8. What if I suspect fraud on my account while PurePoint is closing?
    We will help you handle it. Please call us right away toll free at 833-787-3764, Monday – Friday, 9:00 a.m. – 7:00 p.m. Eastern Time (except Federal holidays).

  9. Is PurePoint FDIC Insured and is my money safe?
    PurePoint accounts are insured by the FDIC up to the regulatory limits.

    Learn more about your FDIC coverage. 
    1. Visit fdic.gov
    2. Call the FDIC at 1-877-275-3342 (1-877-ASKFDIC)
    3. Calculate your available insurance at edie.fdic.gov/

    Deposits of PurePoint Financial and MUFG Union Bank, N.A. are combined and not separately insured for FDIC insurance purposes.

  10. My Savings or CD is part of a Trust account. What is the best way to transfer this kind of account?
    Trust accounts will be closed following the same process for traditional savings or CD accounts payable to the name of the Trust.

  11. I have more than one Savings or CD account. Will I receive my money for each account or in one lump sum?
    If we close multiple accounts, separate checks will be issued to the account holder.

  12. When will I receive a final statement?
    The final statement will be available online post-closure following your normal statement cycle. We recommend downloading all historical statements for your records by logging into your account online at purepoint.com.

  13. How can I access my statements?
    Prior to June 30, 2023, please download all historical statements for your record following these steps:
    1. Log into your account online at purepoint.com
    2. Go to Documents
    3. Go to Statements
    4. Open the PDF and download

  14. Who can I contact for help?
    Prior to June 30, 2023, if you have any questions, please visit purepoint.com/faq or call our PurePoint Client Support Center at 833-787-3764.

    After June 30, 2023, we’ve partnered with U.S. Bank to issue 2023 1099s, update contact information and assist with access to historical statements. To reach this team of specialists after this date, please call 800-872-2657.

  15. Who will administer and issue my 1099 tax information for 2023?
    U.S. Bank will serve as the administrator of your tax reporting documents for 2023. For tax questions, we suggest that you consult your tax advisor.

  16. Will you be sharing my personal information with U.S. Bank?
    Yes. U.S. Bank will be the administrator of your PurePoint records following the closure.