Pibank High-Yield Savings Review

What we like about Pibank Savings

Pibank Savings is a pretty no-frills account. You don’t have to worry about monthly fees, minimum opening deposit, balance requirements or confusing APY tier structures.

Plus, your deposits are FDIC insured up to $250,000, so your hard-earned cash will be protected in the unlikely event that the bank goes out of business.

High APY

With a 4.4% APY, Pibank offers one of the most competitive rates in the country. You can start earning interest with as little as $0.01, and there’s no balance cap to receive the full advertised rate. There’s also a simple calculator on Pibank’s website that helps you figure out how much interest you could earn based on how much you plan to deposit into the account.

What could be better

Pibank doesn’t have any physical branch locations. Pibank operates entirely through its online and mobile banking platforms, which means you won’t be able to visit a Pibank branch in person. If you’re not comfortable with digital banking, you may want to look elsewhere.

Another thing to note is that Pibank’s customer support is only available from 8 a.m. to 8 p.m. ET. If you need help outside of those hours, you may be out of luck.

Limited transfer options

I was extremely surprised to find that Pibank doesn’t accept ACH (Automated Clearing House) transfers. This is a staple feature for any deposit account, and I can’t think of another bank account off of the top of my head that doesn’t accept them.

So since Pibank doesn’t accept ACH transfers, this also means it can’t accept direct deposit from things like your payroll or government benefits. Also, Pibank doesn’t support Bill Pay or Zelle, and states it doesn’t accept “micro-deposits” either.

To fund your Pibank account, you transfer money using Plaid or wire transfers. For most banks, outgoing domestic wire transfers cost around $10 to $25 per transfer, so this can add up fast when you’re just trying to fund your account.

Compare top savings accounts

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6 of 19 results

Finder Score	Account type	Annual Percentage Yield (APY)	FDIC or NCUA insured amount	Minimum balance to earn APY	Minimum deposit to open
Promoted 9.2 Excellent Public High-Yield Cash Account	9.2 Excellent	Cash management account	3.30%	Up to $250,000	$0	$0	Go to site View details Compare product selection Compare	loading
Promoted 9.4 Excellent Wealthfront Cash Account	9.4 Excellent	Cash management account	3.30%	Up to $8M FDIC insurance	$1	$1	New clients earn 3.95% APY. Boost your APY from 3.30% to 3.95% APY for 3 months when you open and fund a Cash Account. T&Cs apply.	Go to site View details Compare product selection Compare	loading
Promoted 8.8 Great Cash App Savings	8.8 Great	Savings app	Up to 3.25%	Up to $250,000	$0	$1	Go to site View details Compare product selection Compare	loading
9.2 Excellent SoFi Checking and Savings	9.2 Excellent	Traditional savings,Checking	Up to 3.10%	Up to $250,000	$0	$0	Earn up to 3.80% APY on savings and $50 or $400 with direct deposit. Open a new SoFi Checking and Savings account by 31 December 2026, set up eligible direct deposit within 60 days, and maintain direct deposit for six months. T&Cs apply.	Go to site View details Compare product selection Compare	loading
9.7 Excellent Live Oak Bank through Raisin	9.7 Excellent	Traditional savings	4.00%	Up to $250,000	$0.01	$0	Up to $1200 with code SUMMER26. T&Cs apply.	Go to site View details Compare product selection Compare	loading
Not scored yet Robinhood Banking	Not scored yet	Cash management account	3.50%	up to $2.5 million	$0	$0	Go to site View details Compare product selection Compare	loading

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How we picked these

What is the Finder Score?

The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.

To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.

Read the full breakdown

Pibank customer reviews and ratings

Pibank, which is a brand of Intercredit Bank, doesn’t have a ton of reviews, at the time of writing. There are currently no customer reviews on its Better Business Bureau (BBB) profile, and only a handful of reviews on its Trustpilot. On Trustpilot, all reviews are currently negative, with most customers saying the application process was a bit of a mess due to a facial recognition process, and some complaints on its customer service.

On app stores, we saw many more reviews, but those also aren’t great. When it comes to banking, most banks have at least a 4-star rating. Many customers report issues with deposits, and since Pibank doesn’t accept ACH transfers, this is a major pain for many customers who are just trying to fund their account.

Frequently asked questions

Does Pibank offer CDs

No. Pibank only offers a high-yield savings account at the moment. If you’re looking for a CD, check out other online banks or traditional financial institutions.

How secure is Pibank?

Pibank maintains “stringent, industry-standard administrative, technical and physical safeguards to protect your information,” according to its website. It also uses multi-factor authentication to protect access to your account through the Pibank App.