Pibank Savings - FAQ's
The Pibank Savings is designed for saving: Its super-competitive rates and lack of fees makes it the ideal place for your money to grow. And, of course, it’s FDIC-insured..
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At Pibank, you only need the following:
- You must be 18 years or older.
- Have a valid Social Security Number.
- Reside in the USA.
- Have a valid driver’s license, state-issued ID or US issued passport (for US citizen).
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Opening your Pibank Savings is as easy as pie, you just need to follow these steps:
- Go to the "Become a Client" on the website ( you can do it in your mobile device or computer).
- You will be required to have a valid driver’s license, state-issued ID, or US issued passport on-hand and ensure you have good lighting conditions in order to scan the required documents.
Note: Pibank’s Biometric Customer Identity Verification (BCIV) uses the AuthID biometric authentication facial recognition system to verify the identity of the individual. This is becoming more commonly used in the industry as it is more secured and efficient especially with online activity. Based on the results of the match, this could result in the denial of the Pibank account opening. It is Pibank Policy not to reactivate the account opening application process or to give the specifics of the denial reason unless the reason is due to adverse information from a Chexsystems related report. - Download the Pibank App on your phone.
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The interest on your Pibank Savings account is calculated daily and credited monthly on the 15th.
If the 15th falls on a weekend or a federal holiday, the payment will be made on the next business day.
Please note: Since this is a variable rate account, the interest rate and Annual Percentage Yield (APY) are subject to change at our discretion at anytime without notice.
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We would hate to see you go, but if you decide to do so, you can close it through the Pibank App. Just keep in mind that your Pibank Savings should have zero balance ($0) before requesting closure. Once your request is approved, our team will promptly close your Pibank Savings.
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Yes, you can open as many Pibank Savings accounts as you’d like—individually or as a Joint Account with an existing Pibank customer in good standing.
Simply go to your Pibank App and select Open a New Pibank Savings to get started.
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For the latest interest rates, visit our Pibank Savings page. Rates may change at any time without notice.
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You will enjoy:
- No fees
- No minimum balance
- Personalized customer service
- FDIC insurance of $250K per signer (e.g. $500K for two signers)
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Yes, for your security there is a daily transfer limit. If you wish to transfer more than the set limit, you will be able to request it through the Pibank App.
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Yes, Pibank is a 100% online, where you will be able to manage your financial needs through our Pibank App.
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To help prevent fraud, funds are generally available within one (1) - five (5) business days after they’re credited to your account.
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Pibank Savings is exclusively for saving. With your Pibank Savings account, you can transfer money via wire transfers.
Pibank does not charge fees for wire transfers, but your bank sending or receiving funds may charge fees for outgoing and incoming wire transfers.
Please note that Pibank Savings does not support payments through Bill Pay or Zelle®.
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Interest begins to accrue as soon as your funds are credited to your account. Transfers made through Plaid before the cutoff time of 12:00 noon, typically take within three (3) business days, while wire transfers received before the cutoff time of 3:00pm are credited on the next business day. If the wire transfer is made after the 3:00pm cutoff time, it will be credited within *two (2) business days. *Please note: Federal holidays and weekends (Saturday and Sunday) are not considered business days.
For more details, please refer to your Pibank Deposit Agreement. We also recommend consulting with the financial institution you’re transferring funds from for information on their cutoff times and fee schedules.
Pibank does not charge fees for wire transfers; however, the bank sending or receiving the funds may charge fees for outgoing and incoming wire transfers.
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