What is PickTheBank Platform?

• PickTheBank is an online marketplace for finding high-yield bank accounts.
• It serves as an online platform that aggregates savings and investment products from partner banks across different countries.
• PickTheBank helps customers to apply for banking products and services in various partner banks.
• PickTheBank provides access to partner banks that might offer better interest rates or terms than what's available locally. This allows customers to compare and select products from different banks and regions.

Is PickTheBank a bank? How does it work?

• PickTheBank is not a bank, but rather a financial technology company that operates as a financial marketplace and facilitates access to savings and investment products offered by partner banks.
• PickTheBank users can manage their savings and investments through a single account, providing a consolidated view of their holdings across multiple banks.

Why use PickTheBank?

Higher Interest Rates: PickTheBank offers access to savings products from various partner banks across different countries. These banks might offer higher interest rates compared to what's available locally, allowing users to potentially earn more on their savings.
Diversification: PickTheBank enables users to diversify their savings and investments across multiple banks and countries without the need to open and manage accounts individually in each location. This diversification can spread risk and potentially increase the overall return on investment.
Convenience: It provides a single platform where users can compare and select from a wide range of savings products offered by different banks. Managing multiple accounts and comparing offers becomes more convenient through one interface.
Access to Foreign Markets: For users interested in foreign markets, PickTheBank allows access to banking products from different countries, which might not have been accessible otherwise. This can be particularly useful for individuals seeking to explore international investment opportunities.
Simple Account Management: PickTheBank offers a streamlined user experience, allowing customers to manage their various savings and investment accounts through one platform, making it easier to keep track of their finances.

Is my money safe?

• Deposits made through PickTheBank are protected by deposit protection schemes of the partner banks, similar to traditional banking, providing a certain level of security for deposited funds.
• PickTheBank doesn’t participate in money transfers so that you can transfer money directly to your new bank account without any intermediaries.

What does PickTheBank earn money on?

PickTheBank earns money on
Commissions from Partner Banks: When customers open savings accounts through PickTheBank platform with partner banks, PickTheBank typically receives a commission or a referral fee from the partner bank. This commission can be based on various factors such as the amount deposited, the duration of the deposit, or the type of product selected.
Administration fees: PickTheBank may charge customers administration fees. These fees are based on the amount deposited, duration of the, or the type of the product selected. These fees are disclosed to customers during the application process.