PickTheBank Launched 50 Euro Welcome Bonus
New customers opening fixed-term deposits through the platform can earn a one-time cash incentive.
Updated on Sept. 22, 2026 in Banking
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PickTheBank has introduced a 50 euro welcome bonus for new users who open fixed-term deposits through its platform. The promotion, which features Lidion Bank plc as the partner institution, is available to customers across 26 EU countries.
Why it matters
The bonus acts as a promotional incentive to attract new users to the platform's comparison engine, which covers over 1,000 banks. By combining the 2.5% interest rate on three-month deposits with the cash bonus, the effective annualised yield rises for participating savers.
New customers opening a 20,000 euro three-month deposit can achieve an effective annualised yield of 3.5%, bolstered by a 50 euro bonus. This incentive is available for deposits opened through the platform before the November 2026 deadline.
The players
PickTheBank
A Cyprus-based comparison engine that tracks interest rates across more than 1,000 banks in 26 EU countries.
Lidion Bank plc
A Malta-based financial institution offering fixed-term deposit products to international savers.
The details
To participate, customers must complete identity verification on the platform and apply for a fixed-term deposit at the partner institution, Lidion Bank. The 50 euro bonus is credited to the customer's bank account within 30 days of the deposit funding. Deposits are protected under the Maltese Depositor Compensation Scheme up to a maximum limit of 100,000 euros.
Timeline
22 September 2026: PickTheBank launched the welcome bonus promotion.
15 November 2026: Deadline to apply for eligible deposits.
22 November 2026: End of eligibility period for deposits.
15 December 2026: Deadline for eligible deposits to be funded.
Money Landscape
This launch follows a period where three-month euro rates climbed to 2.50% in September 2026, marking a rise from earlier in the summer. The promotion sits within the broader regulatory environment provided by the Maltese Depositor Compensation Scheme.
Savers considering this offer should calculate whether the 50 euro bonus provides a meaningful return relative to their deposit size and the lock-in period. Consult with a qualified financial professional to determine if a fixed-term deposit aligns with your liquidity needs.
The takeaway
Promotional bonuses can temporarily boost your effective yield on short-term deposits, but always verify the underlying interest rate before committing funds. Review the specific eligibility criteria for this offer and confirm that your deposit falls within the 100,000 euro protection limit.
What happens next
Interested participants must apply for their fixed-term deposit by 15 November 2026 and ensure funding is completed by 15 December 2026.
Further reading
For more on managing savings in an evolving rate environment, visit our Banking section.
More information
Review the full promotion terms and conditions on the PickTheBank official website.
Source note: This article includes information reported by Cyprus Mail.
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