Compare Banks, Deposit Rates and Savings Accounts Across Europe

PickTheBank is a European platform built around two solutions:

1. A comparison engine that helps you find and compare interest rates across 1,000+ banks in 25+ European countries, using structured, verified, publicly available information.
2. A partnered savings platform that lets eligible customers apply for and open fixed-term deposits with selected partner banks (including Lidion Bank in Malta), and manage those deposits via PickTheBank.

Together, these solutions help users explore the market transparently, find higher interest rates, and, where available, complete the deposit journey with trusted partner banks—all in one place.

About PickTheBank

PickTheBank is an independent platform designed to simplify how people compare savings products across Europe and access partnered deposit solutions.

• Comparison engine: We aggregate and compare deposit and savings account information across Europe. PickTheBank is not affiliated with most banks listed in comparisons, and we do not facilitate deposit opening with those banks. The information is provided for user convenience.
• Savings platform: For selected partner offers, PickTheBank supports onboarding and deposit applications as a service partner, while deposits are opened and held by the partner bank in the customer’s name.

What You Can Do on PickTheBank

Using the comparison engine, you can:

• Compare deposit interest rates and savings account conditions across European banks
• Browse products by country, bank, currency, maturity, yield, minimum deposit and key terms
• Explore regulated banks and market conditions using structured, comparable data

Using the savings platform (partnered offers), you can:

• Complete onboarding (questionnaire, identity verification and phone confirmation)
• Submit and sign a fixed deposit application that is forwarded to the partner bank together with your onboarding profile
• Receive pay-in details after approval and fund the deposit directly at the bank (funds do not pass through PickTheBank)
• Track applications and manage deposits in your PickTheBank Portfolio (web and mobile app)

Safety, Regulation & Trust

Deposits opened through PickTheBank savings platform are held by a licensed bank. For partnered deposits, even if something were to happen to PickTheBank, your deposit remains with the bank and will be repaid according to schedule.

Savings platform Partner: Lidion Bank (Malta)

Lidion Bank is a Malta-licensed bank. Deposits are protected by the Maltese Deposit Guarantee Scheme up to €100,000 per customer. The scheme covers deposits in all currencies (compensation is paid in euro, subject to the €100,000 limit). 

Fees & Transfer Costs

PickTheBank and partner banks do not charge depositors commissions for account opening, funding instructions or other deposit-related services. However, your own bank—or an intermediary/correspondent bank (especially for USD/GBP)—may charge transfer fees. For foreign currency transfers, fees can be significant, so it’s worth checking costs in advance and considering options to ensure the full amount is credited.

How the PickTheBank Savings Platform Works (Partner Deposits)

1. Choose a deposit product and start the application
2. Complete onboarding (KYC + phone confirmation)
3. Sign the fixed deposit application (sent to the partner bank)
4. After approval (typically within one business day), receive pay-in details
5. Transfer funds directly to the bank
6. Once funds are received, the bank opens your fixed deposit

Pay-in details (how funding works)

PickTheBank never touches your money. Deposits are funded via a transfer you make directly to the bank. 

Timing

• EUR deposits are typically opened the same day or next business day.
• USD/GBP deposits are typically opened within 1–2 business days after the transfer arrives.

Managing Your Deposits

In your PickTheBank Portfolio, you can access your applications, deposits and documents.

Key features for partnered fixed-term deposits:

• Deposits are opened in the customer’s name
• Fixed-term deposits are not transactional accounts (no outgoing transfers to third parties)
• No top-ups: you can’t add more than the original amount; fund the full amount in one transaction
• No early withdrawal: deposits cannot be terminated early or partially withdrawn before maturity

At maturity

• Default: repayment to your reference account
• Option: 2–3 weeks before maturity, you will be offered a rollover application (interest paid out; principal placed for a new term). Without renewal, repayment happens automatically.

Documents & Support

You will get the following deposit-related documentation from your PickTheBank Portfolio (Documents tab), including:

• Terms and Conditions of the partner bank
• Terms and Conditions of PickTheBank
• Product information sheet (key conditions)
• Application confirmation (after approval)
• Deposit confirmation (after successful funding)

Start Comparing Today

Compare banks and deposit rates across Europe, and—where partner products are available—apply and open fixed-term deposits through PickTheBank’s savings platform. Make smarter, more transparent savings decisions with PickTheBank.