If you want a savings account that pays a competitive rate without monthly fees or a minimum balance, Pibank Savings is one option worth a close look.
Pibank Savings at a Glance
Pibank is an online banking brand from Intercredit Bank, N.A., a Member FDIC bank. Its main product is a high-yield savings account built for one job: helping your money grow.
As of July 2, 2026, Pibank Savings advertises a 4.10% APY, according to Pibank's official savings page. The APY is variable and can change at any time without notice, so confirm the current rate before you apply.
Quick facts (verify current terms with Pibank):
- APY: 4.10% as of 07/02/2026
- Monthly fees: none
- Minimum balance: none
- Insurance: FDIC through Intercredit Bank, N.A.
How the Account Works
Pibank Savings is designed only for saving, not everyday spending. Interest is calculated daily and credited monthly on the 15th. If the 15th lands on a weekend or federal holiday, the payment moves to the next business day.
Moving money in and out
Here is an important limitation. Pibank Savings moves money by wire transfer only. It does not support ACH transfers, Zelle, or Bill Pay, based on Pibank's help center. Pibank does not charge for wire transfers, but your other bank may charge fees to send or receive them.
Fees and Minimums
Pibank keeps its fee structure simple. There is no monthly maintenance fee and no minimum balance requirement, and you can start earning interest from as little as one cent. Always review Pibank's Schedule of Fees for the latest details, since terms and conditions apply.
Is Pibank Safe?
Pibank is a brand of Intercredit Bank, N.A., which is a Member FDIC bank. FDIC insurance protects deposits up to $250,000 per depositor, per ownership category, which means up to $500,000 on a qualifying joint account. No bank account is entirely without trade-offs, but FDIC coverage protects your insured balance if the bank fails.
Opening a Pibank Savings Account
To open an account, Pibank says you must:
- Be 18 or older
- Have a valid Social Security number
- Reside in the United States
- Provide a valid driver's license, state ID, or U.S. passport
Pibank uses a biometric identity verification system to confirm who you are during signup. The process runs through the Pibank website and mobile app, since Pibank has no physical branches.
Pros and Cons
What we like
- Competitive 4.10% APY as of July 2026
- No monthly fees and no minimum balance
- FDIC insurance through Intercredit Bank, N.A.
- Interest starts accruing from your first penny
What to consider
- Wire transfers only, with no ACH, Zelle, or Bill Pay
- Your other bank may charge wire fees
- No branches and no checking or debit features
- Variable rate that can drop at any time
How Pibank Compares to Other Options
Pibank focuses on rate and simplicity, but its wire-only transfers can feel limiting if you move money often. If you want more flexible everyday banking with digital tools, two Firstcard partners are worth comparing.
Current Banking offers a mobile-first account with spending and saving features in one app.
Current Banking
Current Banking
Current is a mobile-first banking app with no monthly fee and no minimum balance. Members can earn up to 4.00% APY with a qualifying direct deposit of $200, receive direct-deposit paychecks up to 2 days early, and overdraft up to $200 fee-free.
Standout feature
4.00% APY on Savings Pods (with a $200+ qualifying direct deposit) plus paycheck up to 2 days early — both included on the standard account for free
Fees
Free
Pros
$0 monthly fee; up to 4.00% APY on Savings Pods with qualifying direct deposit; paycheck up to 2 days early;
Cons
No physical branches
Chime is a popular mobile banking option known for early direct deposit and a fee-conscious approach.
Chime
Chime
- Fee-free banking plus early pay access (up to 2 days early with direct deposit)¹ - Overdraft up to $200 without fees for eligible members¹ - 5% cash back on category of choice (with qualifying direct deposit)¹ - 3.75% APY on your savings¹
Standout feature
No credit check, no interest, no annual fee, and no minimum deposit required.
Fees
$0
Pros
Fee-Free Banking and Get paid up to 2 days early
Cons
App/online-only support, no branches
Rates, features, and eligibility vary by provider and can change, so compare current terms before deciding.
Your Next Steps
If a no-fee, high-yield savings account fits your goals, confirm Pibank's current APY and transfer rules on its official site, then decide whether wire-only access works for you. If you want easier day-to-day transfers, compare Pibank against other accounts on rate, fees, and features before you open anything. Terms and conditions apply, and APYs vary.
Frequently Asked Questions
What APY does Pibank Savings pay?
As of July 2, 2026, Pibank's official savings page advertises a 4.10% APY with no fees and no minimum balance. The rate is variable, which means Pibank can change it at any time without notice. Always confirm the current APY on Pibank's website before opening an account.
Is Pibank FDIC insured?
Yes. Pibank is a brand of Intercredit Bank, N.A., which is a Member FDIC bank. Your deposits are protected up to $250,000 per depositor, per ownership category, and up to $500,000 on a qualifying joint account. That coverage applies if the bank were to fail.
How do I get money in and out of Pibank Savings?
Pibank Savings supports wire transfers only. It does not offer ACH transfers, Zelle, or Bill Pay, so you move funds by wiring them to and from another bank. Pibank does not charge for wires, but the other bank involved may charge its own fees.
Does Pibank have a checking account or debit card?
No. Pibank Savings is built only for saving and does not include a checking account, debit card, or everyday spending features. If you need those tools, you would pair Pibank with a separate checking account or choose a different provider.
