PickTheBank, the European savings platform, in partnership with Malta-based Lidion Bank, announced the launch of fixed-term deposit products in US dollars (USD) and British pounds (GBP), alongside existing euro offers. Savers can now access rates up to 3.8% in USD, 3.35% in GBP, and 2.25% in EUR, all available through a fully online process.
Meeting Growing Demand for Diversification and Higher Returns
In recent years, demand for high-yield savings products across Europe has grown dramatically. Traditional banks continue to offer relatively low interest rates, leaving many customers frustrated and searching for alternatives. While opportunities exist abroad, barriers such as the unwillingness of many banks to serve clients from other countries, complex cross-border applications, language differences, and a lack of transparency often make these opportunities difficult to access.
PickTheBank has positioned itself as a solution to these challenges. Originally launched in 2022 as a savings comparison platform, it quickly grew into a full-service deposit marketplace. By combining transparent comparison with online application and portfolio management services, PickTheBank bridges the gap between European banks and retail savers.
“We’ve seen a surge in demand from savers looking to diversify their portfolios and benefit from the attractive rates available in USD and GBP,” said Alexander Gromov, CEO of PickTheBank. “Until now, EU-based individuals faced limited options to save in these currencies without complex cross-border arrangements. Together with Lidion Bank, we’re making it simple, secure, and accessible.”
About the Partnership with Lidion Bank
Deposits offered through PickTheBank are held with Lidion Bank, an EU-licensed institution regulated by the Malta Financial Services Authority (MFSA). Lidion Bank participates in the Maltese Depositor Compensation Scheme, which protects deposits up to €100,000 per depositor per bank.
Importantly, customer funds are transferred directly to Lidion Bank and not held by PickTheBank, which acts as a service partner. This ensures that all deposit agreements are signed directly with the bank, giving customers confidence that their funds enjoy the same protections as traditional bank deposits.
Product Features and Terms
The newly launched USD and GBP deposits offer the same level of transparency and flexibility as PickTheBank’s euro products:
- Currencies available: EUR, USD, GBP
- Rates: up to 2.25% (EUR), 3.8% (USD), 3.35% (GBP)
- Terms: from short-term (3 months) to long-term (up to 5 years)
- Interest payout: annually or at maturity, depending on product selection
- Early termination: not available, but multiple maturities give customers choice
- Taxation: no withholding tax in Malta — interest is paid in full, with customers declaring income in their country of residence
These terms make PickTheBank’s products especially attractive for EU residents seeking reliable returns, currency diversification, and cross-border financial security.
User Experience and Accessibility
PickTheBank has streamlined the onboarding process so that customers can open accounts entirely online in just a few minutes. Registration includes a short questionnaire, followed by identity verification via passport or ID card and proof of address. Applications are signed securely with a one-time code sent via SMS.
The platform is accessible in multiple languages and supported by responsive customer service available through live chat, email, and phone. Transfers are made via SEPA for euro payments and standard bank transfers for USD and GBP. Deposits and accrued interest are credited directly to the customer’s reference account annually or at maturity.
Unlike traditional banks, PickTheBank focuses solely on savings products — no current accounts or third-party payments — allowing customers to use the platform exclusively for deposit management.
Who Benefits Most
The launch of USD and GBP deposits is designed for:
- Savers looking for higher returns than their local banks currently provide
- Individuals seeking currency diversification across EUR, USD, and GBP
- EU residents interested in an additional banking relationship with full deposit guarantee protection
Final Verdict
With interest rates in USD (up to 3.8%) and GBP (up to 3.35%) among the most competitive available from EU banks, and euro rates up to 2.25%, PickTheBank delivers a powerful solution for savers seeking more than their domestic banks can offer.
By combining transparent comparison, secure partnerships with licensed banks, and a seamless digital experience, PickTheBank is redefining how EU residents access and manage savings across borders.
For more information or to open a USD, GBP, or EUR deposit account, visit https://pickthebank.eu.
About PickTheBank
Founded in 2022 in Cyprus, PickTheBank began as a savings comparison platform and has since grown into a pan-European deposit platform. The company aggregates offers from more than 1,000 banks across 25 EU countries. In partnership with EU-regulated banks, it enables residents to discover, apply for, and manage savings accounts entirely online.
About Lidion Bank
Lidion Bank is a Malta-based, EU-licensed financial institution regulated by the Malta Financial Services Authority. It offers a range of corporate banking services and participates in the Maltese Depositor Compensation Scheme.
For more information, visit https://pickthebank.eu.
Media Relations
PickTheBank
info@pickthebank.eu
