Pibank
Pibank is a digital-first retail bank brand of Banco Pichincha España S.A. serving Spanish consumers with commission-free savings, salary, deposit, and mortgage products, plus US operations via Intercredit Bank managing $2B+ in assets.
- Company typePrivate
- Founded2017
- HeadquartersMadrid, Spain
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Pibank does
Pibank is a digital-first retail banking brand operated by Banco Pichincha España S.A. (NIF A85882330), a regulated Spanish bank supervised by Banco de España and member of the Deposit Guarantee Fund. Launched in Spain in 2017 and headquartered in Madrid, Pibank offers commission-free retail banking products to Spanish consumers: the Cuenta Remunerada savings account (1.76% TAE), the Cuenta Nómina salary account (up to 2.27% TAE on balances above €5,000 with a €1,000/month minimum), the Depósito Pibank a 12 meses fixed-term deposit (2.37% TAE), and the Hipoteca Pibank Mixta mixed-rate mortgage (1.75% fixed TIN for 4 years, then Euribor + 0.68%). The bank also offers a credit card, mobile banking app for iOS/Android, Google Pay integration, and a PSD2-compliant open banking API.
The platform is built around a digital onboarding flow (registro.pibank.es), a mobile app, and a separate mortgage origination portal (hipotecas.pibank.es), complemented by 4 physical offices in Madrid, Barcelona, Valencia, and Zaragoza for in-person support. A generative AI-powered virtual assistant handles text-based customer queries in Spanish on a 24/7 basis. Multi-channel customer service is available via phone, WhatsApp, email, and video call.
Pibank's revenue model is anchored in net interest income: it collects retail deposits and lends primarily through mortgages, capturing the spread between borrowing and lending rates. The business also earns fee income from transaction services as documented in its published fee schedule. Geographic expansion was executed in 2024 with a US launch under Miami-based Intercredit Bank, N.A., which manages over $2 billion in assets and is transitioning entirely to the Pibank brand as a branchless, cashless digital bank pending OCC approval by summer 2026. Pibank operates in both Europe (Spain) and North America (US), with the broader corporate ownership resting with Banco Pichincha España S.A.
Pibank firmographics
Firmographics- Name
- Pibank
- Legal name
- Banco Pichincha España, S.A.
- Website
- https://pibank.es
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Pibank is a digital-first retail bank brand of Banco Pichincha España S.A. serving Spanish consumers with commission-free savings, salary, deposit, and mortgage products, plus US operations via Intercredit Bank managing $2B+ in assets.
- Ownership category
- akta.pro rank
Pibank industry classification
Industry- Product category
- Retail Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221), Credit Card Issuing (52221)
- SIC
- National Commercial Banks (6021), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Retail-focused Neobanks (Mass Market) (FSABAFAA)
- akta.pro secondary industries
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Credit Cards & Revolving Credit (FSABAAAC)
Keywords
Where Pibank is headquartered
LocationHeadquarters
- HQ city
- Madrid
- HQ country
- Spain
- HQ region
- Europe
Offices4 records
Markets served
Pibank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Interest Income from Lending: Pibank generates revenue primarily through interest income from its mortgage lending activities, including the Hipoteca Mixta product which offers variable rates (Euribor + 0.68% after initial fixed period).
- Deposit Interest Spreads: The bank takes deposits (Cuenta Remunerada, Cuenta Nómina, Depósito) and lends at higher rates, capturing the spread between borrowing and lending rates.
- Account and Transaction Services: Revenue from various banking services including account management, card transactions, and other financial operations as documented in the bank's fee schedule.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Depósito Pibank a 12 meses - 2.37% TAE fixed term deposit |
| Subscription | Monthly | Cuenta Remunerada Pibank - 1.76% TAE savings account |
| Subscription | Monthly | Cuenta Nómina Pibank - Up to 2.27% TAE salary account |
| One time/ perpetual license | Monthly | Hipoteca Pibank Mixta - Mixed mortgage with fixed then variable rate |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Pibank product offering
Product offeringCore offering
Pibank is a digital-first retail bank in Spain that offers commission-free everyday banking products—savings accounts, fixed-term deposits, salary accounts, and a mixed-rate residential mortgage—along with a credit card and mobile/web banking channel. The brand is operated under the Banco Pichincha España S.A. banking license and combines a digital platform (mobile app and web onboarding at registro.pibank.es) with four physical offices in major Spanish cities for in-person service and complex product support such as mortgages.
Product overview
Pibank is an online bank in Spain operated by Banco Pichincha España S.A., offering a digital-first banking experience with commission-free accounts and competitive interest rates. The product portfolio centers around four core offerings: the Cuenta Nómina (salary account) and Cuenta Remunerada (savings account) for everyday banking with attractive interest rates, the Depósito Pibank a 12 meses (12-month fixed deposit) for term savings, and the Hipoteca Pibank Mixta (mixed mortgage) for real estate financing. Additional services include a credit card, mobile banking app, and Google Pay integration. The bank maintains physical offices in Barcelona, Madrid, Valencia, and Zaragoza for customers preferring in-person service, while offering digital-only operations alongside.
Differentiator
Problem solved
Functional benefit
Products and services
- Depósito Pibank a 12 meses A 12-month fixed-term deposit paying 2.37% TAE (2.35% nominal annual interest) with quarterly interest payments, no minimum investment amount, and partial or total cancellation permitted (with penalty on the latter). Targeted at Spanish retail savers seeking a defined-term, commission-free deposit at a competitive rate.
- Cuenta Remunerada Pibank A commission-free on-demand savings account paying 1.76% TAE (1.75% nominal annual interest) applied to the daily balance, with no maximum amount, monthly interest payments, and immediate access to funds. Targeted at Spanish retail consumers seeking a low-effort interest-bearing alternative to traditional savings accounts.
- Cuenta Nómina Pibank A commission-free salary account requiring minimum monthly deposits (salary or pension) of €1,000, paying 0% TIN (0% TAE) on the first €5,000 and 2.25% TIN (up to 2.27% TAE) on balances above €5,000. Includes free debit-card withdrawals at any ATM in Spain and worldwide, free immediate transfers, and a 3-month trial period that does not require salary direct deposit.
- Hipoteca Pibank Mixta A mixed-rate residential mortgage offering a 1.75% fixed TIN for the first four years followed by Euribor + 0.68% (annual review), with a representative variable TAE of 3.22%. Finances up to 90% of purchase value (max 80% of appraisal), loan amounts €80,000–€2,000,000, terms of 15–35 years, no opening or study commission, no early repayment penalty, and damage insurance plus a Pibank current account as the only linkages. Eligible to Spanish residents aged 21–75 with indefinite contracts or civil servant status.
- Tarjeta de Crédito Pibank A Pibank-branded credit card providing three repayment modes: full payment at month-end, fixed-installment payments, and percentage-based installment payments, with optional payment protection insurance arranged through CASER. Targeted at Pibank account holders who need revolving or instalment credit functionality.
Quantifiable outcome
- 2.37% TAE on 12-month fixed deposits (as of 2026)
- +3 more outcomes
Companies that use Pibank
Customer profileSegments3 records
Ideal customer profiles3 records
Pibank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability2 records
Feature4 records
Pibank partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Banco Pichincha España S.A.corePibank is a commercial brand/trademark owned by Banco Pichincha España S.A., a Spanish bank regulated by Banco de España and member of the Deposit Guarantee Fund. All operations, products, and services are provided under this banking license.
Scale indicators2 records
Recent moves7 records
Expansion highlights5 records
Pibank competitors and assessment
Company assessmentBroad incumbents
- CaixaBank: Largest Spanish retail bank by customers, with the Imagin neobank brand alongside traditional branches. Broad incumbent that dominates the Spanish deposit and mortgage market in which Pibank competes, including through its own digital sub-brand.
- Bankinter: Spanish commercial bank with a strong digital proposition and competitive deposit/mortgage offerings targeting retail and SME customers. Broad incumbent comparable to Pibank on retail product breadth, customer experience, and rate competitiveness in Spain.
- BBVA: Major Spanish incumbent bank providing retail and digital banking services including accounts, deposits, mortgages and credit cards. Broad incumbent whose scale, brand and pricing power set the competitive ceiling Pibank must beat on rate and fees.
- Banco Santander: One of Spain's largest incumbent retail banks, offering current accounts, deposits, mortgages, credit cards and digital banking through Santander and Openbank. Broad incumbent that competes with Pibank across the full retail product suite, particularly in mortgages and salary accounts.
Direct peers
- N26: Germany-based mobile-first neobank offering retail current accounts, savings and consumer credit across the Eurozone including Spain. Direct peer given its mobile-only model, mass-market consumer target and commission-free account structure that overlaps with Pibank's positioning.
- Revolut: UK-headquartered global neobank with a large Spanish customer base offering multi-currency accounts, debit/credit cards and consumer banking. Direct peer in serving digitally native Spanish retail consumers with commission-free accounts and app-led onboarding, although with a broader product set.
- MyInvestor: Spanish digital bank and broker offering current accounts, savings, investment products and mortgages through a single platform. Direct peer because it competes head-on with Pibank's deposit and mortgage products for the same commission-averse Spanish retail segment.
- Openbank: Santander Group's digital-only retail bank in Spain, offering commission-free accounts, savings products, mortgages and credit cards to mass-market consumers via a mobile-first platform. Closest direct competitor to Pibank in product mix, target customer, and digital-first distribution within the Spanish market.
- Imagin Bank: CaixaBank's mobile-first brand targeting younger Spanish retail consumers with no-commission accounts, savings features and lifestyle integrations. Direct peer given overlapping mass-market consumer focus, mobile-led onboarding, and similar commission-free positioning.
- EVO Banco: Independent Spanish digital bank offering current accounts, savings, mortgages and personal loans with a no-commission, branch-light model. Direct peer given its digital-first retail proposition and presence in the same commission-free mass-market segment as Pibank.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Pibank social profiles
Digital presencePibank compliance and trust
Trust signalCompliance3 records
Pibank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pibank leadership team
Management profileNumber of profiles
Pibank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pibank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pibank
What does Pibank do?
Pibank is a digital-first retail bank in Spain that offers commission-free everyday banking products—savings accounts, fixed-term deposits, salary accounts, and a mixed-rate residential mortgage—along with a credit card and mobile/web banking channel. The brand is operated under the Banco Pichincha España S.A. banking license and combines a digital platform (mobile app and web onboarding at registro.pibank.es) with four physical offices in major Spanish cities for in-person service and complex product support such as mortgages.
Is Pibank a public or private company?
Pibank is a private company. It is classified as corporate owned and is currently operating.
When was Pibank founded?
Pibank was founded in 2017. It employs 11 to 50 people.
Where is Pibank based?
Pibank is headquartered in Madrid, Spain, in the Europe region.
How does Pibank make money?
Three revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Interest Spreads and account and Transaction Services.
Who are Pibank's main competitors?
Broad incumbents on record are CaixaBank, Bankinter, BBVA and Banco Santander. Direct peers are N26, Revolut, MyInvestor, Openbank, Imagin Bank and EVO Banco.
Does Pibank have an API?
Yes. Pibank offers a public API through PSD2 (Payment Services Directive 2), which enables third-party providers (TPPs) to access account information and initiate payments. The API serves as the primary access mechanism for open banking integration, allowing authorized third parties to access account data and perform payment operations. Developer documentation is at img.pibank.es/pdfs/PSD2 - Información para APIs (Mecanismo principal de acceso).pdf.
What industry is Pibank in?
Pibank's product category is Retail Banking. Its primary akta.pro industry code is FSABAFAA, Retail-focused Neobanks (Mass Market), with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6021.