Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
5.00%(Verified 12/11/2024)
Minimum Opening Deposit
$0
Minimum Balance to Earn APY
$0.01
Pibank Savings Account Review
Pibank Savings Account is offered by Pibank, a bank founded in 2018 and based in Coral Gables, FL. Pibank Savings Account are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 5.00%, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- No minimum initial deposit. There is no minimum balance required to open an account online.
Pibank Savings Account Pros & Cons
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Pibank Savings Account FAQ
Are savings accounts from Pibank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does Pibank offer a signup bonus?
Pibank Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Pibank Savings Account?
There is no minimum deposit to open a Pibank Savings Account.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Required Balance | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Pibank Savings Account offer?
Pibank Savings Account offers an APY of 5.00% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does Pibank Savings Account charge?
Pibank Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
What features and perks does Pibank Savings Account offer?
This savings account includes the following features:
- Mobile Banking Services - Pibank Savings Account allows you to manage your money online or with a mobile app.
Can you set up a direct deposit to Pibank Savings Account?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Pibank Savings Account?
The customer support email for Pibank Savings Account is info@pibank.com.
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