PEPPER
Israel's first mobile-only bank, launched by Bank Leumi in 2017.
Bank Leumi's mobile-only bank: fee-free current account, savings goals, FX, loans and investing.
- Who holds it
- The company itself — it holds a full banking licence — Israeli banking license (Bank Leumi digital brand, Bank of Israel).
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from PEPPER’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| HQ | Tel Aviv, IL |
| Founded | 2017 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | Israeli banking license (Bank Leumi digital brand, Bank of Israel) |
| Card | No card |
| Stablecoins | No |
| KYC | Yes |
| Active regions | MENA |
| Countries | Israel |
| Founders | Bank Leumi |
Verified links: official site ↗ · privacy ↗
Common questions about PEPPER
What is PEPPER?
PEPPER is a fiat neobank, headquartered in Tel Aviv, IL and founded in 2017. Your money is held custodially, so PEPPER or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (Israeli banking license (Bank Leumi digital brand, Bank of Israel)).
Does PEPPER have a card, and where can you use it?
It issues no card of its own. It is available in MENA.
Does PEPPER require KYC?
Yes. PEPPER requires identity verification (KYC) to open an account, as a licensed bank.
Peers
Wise · Telda · Wio Bank · Zand · YAP · Liv.
PEPPER appears in
Neobanks that hold their own banking license (140) · Neobanks that require identity verification (349) · Neobanks available in MENA (91) · Neobanks with no card of their own (74)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.