MiBank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
MiBank suits savers in Papua New Guinea who want a low-cost place to keep money, with a monthly fee of PGK 0 and a minimum deposit of PGK 2. The catch is the headline rate of 0.5%, well below the site median of 3.08%.
Key facts
- Best for
- Low-cost saving and everyday cash access in Papua New Guinea.
- Headline rate
- 0.5%↗
- Minimum deposit
- PGK 2↗
- Access terms
- Interest paid on deposits over K1000; no account opening fee; minimum age 5 years↗
- Monthly fee
- PGK 0↗
- Account kind
- Easy access↗
- Legal entity
- Nationwide Microbank Limited↗
- Headquarters
- Papua New Guinea↗
- Founded
- 2004↗
- Support channels
- Email, Phone↗
- Pricing model
- No monthly fee
- Official website
- mibank.com.pg
Everyday accounts
- Transfer fee
- MiCash transfer fee PGK 1.00 on amounts up to PGK 50, rising in steps to PGK 15.00 over PGK 500↗
- Audience
- Business, Students, Teens
Money transfer
Facts checked September 26, 2026, 5 sources
Apps and profiles
- Get the app
- Google Play
- Elsewhere
- facebook.com
Pros and cons
Pros
- The savings account carries a monthly fee of PGK 0 and no account opening fee.
- A PGK 2 minimum deposit keeps the account within reach.
- MiCash is easy access, paying out by cash pickup or wallet, so money moves without a branch.
- Support runs by email and phone through email and phone.
Cons
- The headline rate of 0.5% sits far under the savings ranking median of 3.08%.
- MiCash transfer fees rise in steps with the amount sent, starting at a small fee on low sums.
- Support runs on email and phone only, with no help centre or live chat listed.
Ready to try MiBank?
Scored 8.8 / 10 by VaultCue.
Who it suits
- Savers in Papua New Guinea holding a low balance rather than chasing the highest rate.
- Families and first-time savers, since a minimum age and no opening fee lower the barrier.
- Small business owners and students who need easy access to cash.
Who should look elsewhere
- Anyone chasing a top rate, since AXI Card Tarjeta y Credito shows 21.59% and Plazo ES 24.19%.
- Savers wanting a large fixed-term commitment, because the account is easy access.
How MiBank compares
8.8 vs 8.6
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8.8 vs 8.0
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8.8 vs 9.1
8.8 vs 9.1
8.8 vs 8.9
8.8 vs 8.7- 8.8 vs 8.0
8.8 vs 9.0
8.8 vs 8.1
8.8 vs 8.7
8.8 vs 8.0
8.8 vs 9.5
8.8 vs 9.4
8.8 vs 9.3
8.8 vs 9.2
8.8 vs 9.0
8.8 vs 8.7
8.8 vs 8.5
8.8 vs 8.5
8.8 vs 8.5
8.8 vs 8.4
8.8 vs 8.3
8.8 vs 9.0
Where MiBank is available
- Available
- Papua New Guinea
- Licence in Papua New Guinea
- Bank of Papua New Guinea, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does it cost to run a MiBank account?+
The savings account charges a monthly fee of PGK 0 and there is no account opening fee. Interest is paid on deposits over a set threshold, and the account runs on a no-monthly-fee model, which is common among savings accounts on the site.
How much do I need to deposit to open the account?+
The minimum deposit is PGK 2. Interest is paid on deposits above the stated threshold, so a balance kept just under that level earns nothing. Opening the account itself carries no fee, which keeps the set up cost small for a first balance.
Who regulates MiBank?+
MiBank trades as Nationwide Microbank Limited and is headquartered in Papua New Guinea. The regulator listed for the country is the Bank of Papua New Guinea, so the account sits with a supervised bank. Deposits stay in the country where the account was opened.
What interest does MiBank pay?+
The headline rate is 0.5%, compared with a savings ranking median of 3.08%. Interest is paid on deposits over the stated threshold, so the account rewards a balance rather than a rate chase.
Can I get at my money without a branch?+
The MiCash product is easy access, and payouts run through cash pickup and wallet, which covers cash pickup and wallet transfers. That suits readers who want money in hand or on a mobile wallet rather than waiting in a branch queue.
What does it cost to send money with MiCash?+
The transfer fee starts small on low sums and rises in steps, reaching its top charge on the largest amounts sent. Budget for the higher steps if you send larger transfers, and check the fee schedule before a large payment.
Who is this account built for?+
The listed audience covers business, student and teen, and the savings product carries a monthly fee of PGK 0. Combined with a minimum age and no opening fee, it also works for a first account holder building a savings habit in Papua New Guinea.
How long has the bank been running?+
The bank was founded in 2004 and trades as Nationwide Microbank Limited, and it has served Papua New Guinea since that year. The regulator listed for the country is the Bank of Papua New Guinea, which is the body to check with about the bank.
Sources
- mibank.com.pg/about_us/contact_us.html checked September 26, 2026
Backs: Headquarters, Support channels
“HEAD OFFICE DOWN TOWN, MCGREGOR STREET ... PORT MORESBY NCD”
- mibank.com.pg/about_us/history.html checked September 26, 2026
Backs: Audience, Founded, Legal entity, Licences
“to address the financial needs of micro and small enterprises, subsistence farmers and poor households who were without financial services”
- mibank.com.pg/products/micash_fees.html checked September 26, 2026
Backs: Headline rate, Transfer fee, Fee to send 1,000
“Interest payable of 0.50%pa on balances over K1,000 payable monthly. (MiCash account benefits)”
- mibank.com.pg/products/micash.html checked September 26, 2026
Backs: Account kind, Payout methods
“MiCash is a Bank Account that is operated through a mobile phone attached to the Digicel network”
- mibank.com.pg/products/mipikinini_savings_account.html checked September 26, 2026
Backs: Access terms, Minimum deposit, Pricing model, Monthly fee
“Interest paid on deposits over K1000; No account opening fee; Minimum age is 5 years old (MiPikinini Savings Account)”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Rate type, Term, Deposit protection.