Pibank USA

Safe your engery ans invest elsewhere. Do not let the high interest rate fool you; dealing with PiBank is a nightmare. Their automated onboarding and biometric verification systems are completely broken—frequently rejecting applicants with Tier-1 credit and immaculate documentation, only to keep their highly sensitive personal information on file with zero option for a manual review. When calling to ask why the account was not eligible, agent could tell provide any insight other than image not verified, yet when selfie was taken it showed “green”’as in good. When asking to speak to supervisor was told they would get back to me in 7 days - that’s horrible customer service for a bank trying to get new money. At this point, I demanded my social, license, picture and all personal data deleted and the representative wouldn’t do anything other than say it was safe. A complaint has been filed with FTC. Going to banking commission next to shut down these types of sketchy online bank operators.

I opened a Pi Bank Account to take advantage of the high yield interest. It’s not like your typical BOA or Chase account where you can use it to pay bills etc… just a heads up there. It’s mainly to put savings and reserves in a place where you can take advantage of their high yield interest rate on your savings. I’ve called customer service a couple times for support and always received great help. I spoke with Luis today and asked about the bad reviews and he said when ppl are happy, they don’t usually write reviews — but when they’re unhappy, they do. I understand this. So I wanted to share my experience, in hopes it helps because they’re a legitimate bank with a benefit to those who use it. You just need to know what the set-up is for your money before signing up. Hope this helps others. Thank you, Luis in customer service for your support.

I'm moving and needed a new savings account since my previous bank has no branches in my new location. Despite my reservations about online banking, I chose PiBank because of its attractive APY. I transferred my funds, expecting them to arrive by June 16th. When I hadn’t received the money by the ETA, I confirmed with my previous bank that the transfer had been sent. After waiting two more days, I contacted PiBank support and was informed they don't accept transfers from my previous bank, and a check would be mailed to my address. However, I don’t have a mailbox at that address, I only have a P.O. Box in another city, which PiBank doesn’t accept as a valid mailing address, so the check is going to be lost in transit. As a result, I am currently out over $60 due to their mistake, and when you’re moving and don’t have an income flow, that’s more than a tiny problem. I am having to scramble very quickly to reacquire that money in some capacity before I have to move to a new state in less than a month. Needless to say, I have closed my account with PiBank and will never trust online banking again due to this abysmal experience. Word of advice, always set up an account with a bank that has a physical branch. The higher APY with online banks is never worth the risk. Learn from my mistake. My only question to PiBank is: What is the purpose of a savings account if you can’t even deposit money?