FAQs
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Purpose offers mobile banking that supports vegan businesses and rewards you for choosing cruelty-free and plant-based products. Underlying all of our banking and business activities is a commitment to social and environmental responsibility, with a focus on promoting a plant-based future. Learn more here.

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Purpose has no hidden fees or minimum balance. We do not charge monthly fees, overdraft fees or foreign transaction fees. We offer access to 55,000 fee-free ATMs.

Out-of-network ATM fees and card replacement fees may apply. See our fee schedule for details.

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As part of our mission to celebrate the vegan lifestyle, we offer a 100% vegan and cruelty-free rewards program. We partner with established and up-and-coming brands to give our users access to the best cash back offers and deals. Our current partnerships include Daily Harvest, Purple Carrot, Matt & Nat, Eclipse Ice Cream and dozens more. We’re always changing up our offers to help our users discover new mission-aligned products and brands.

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Yes! Every dollar deposited in your checking account will currently earn 0.125% Annual Percentage Yield (APY) with no minimums or monthly withdrawal limits. That is 4x the national average for deposit accounts².

APYs are variable and subject to change.

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We take security very seriously and are committed to meeting and exceeding industry standards to safeguard your data. Bank-grade security ensures your personal and account information are always safe. All individual deposits are FDIC insured up to $250,000 through Piermont Bank, Member FDIC and all card transactions are protected by Mastercard zero-liability guarantee¹. You’ll never be responsible for any unauthorized activity on your account. If your card gets stolen or lost, you can immediately freeze your card in the app.

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If you have any questions or suggestions for us, we’d love to hear from you. Just shoot us an email at human@purposebanking.com and we promise to get back to you within one business day.