Ask Terry Questions PurePoint financial

PurePoint financial

By Terry Savage on August 10, 2018 | Chicken Money

Hi Terry, I notice Purepoint financial is offering good interest rates on savings, but can they be trusted same as a bank? Thank you!

Terry Says

Purepoint appears to be an online division of an FDIC insured bank. Just make sure the products you buy are indeed FDIC-insured CDs. They can afford to pay higher rates because they are strictly online –so you have to wire transfer your money to them. Local banks figure they have your account and you won’t figure out that you can get much higher rates with safety in online banks, or Treasury bills. Just make sure of the product you are buying.

Remember the old saying: “I’m not so concerned about the return ON my money as I am about the return OF my money!!



a personal
finance question