Pepper by Leumi review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Pepper by Leumi suits students and teens in Israel who want a fee free account that opens entirely in the mobile app. Its monthly fee is ILS 0, and the fixed savings rate runs 2.1% to 2.85%, so the cost side is strong while the offer leans thin.
Key facts
- Best for
- A student or teen in Israel who wants a fee free account set up entirely in the app.
- Monthly fee
- ₪0↗
- Currency conversion fee
- 3%↗
- Free ATM withdrawals
- ₪0↗
- Legal entity
- Bank Leumi le-Israel Ltd↗
- Headquarters
- Israel↗
- Founded
- 1902↗
- Support channels
- Chat, Phone, Help-centre↗
- Audience
- Students, Teens
- Pricing model
- No monthly fee
- Features
- Joint account, Digital-only
- Official website
- pepper.co.il
Savings
Money transfer
- Payout methods
- Bank, Cash-pickup↗
Facts checked September 26, 2026, 4 sources
Apps and profiles
- Get the app
- App Store
Pros and cons
Pros
- Monthly fee of ILS 0, first in the ranking on monthly fee
- Free ATM withdrawals, ILS 0
- Fixed savings rate of 2.1% to 2.85% for 12
- Joint and digital only features, joint account and digital only
Cons
- Currency conversion fee of 3% sits well back in the ranking
- Support runs on chat, phone and help centre only
- Savings money is fixed, fixed, so the rate does not move with the market
Who it suits
- Students and teens in Israel, student and teen
- People who want no branches and no monthly cost
- Couples who want a joint account, since joint accounts are among the listed features, joint account and digital only
Who should look elsewhere
- Anyone who needs cheap currency exchange, since 3% is high against the field
- People who want a variable savings rate, fixed is fixed
- Anyone who prefers to speak to someone in person, since access is app only
How Pepper by Leumi compares
9.2 vs 8.7
9.2 vs 8.6
9.2 vs 8.0
9.2 vs 8.9
9.2 vs 9.1
9.2 vs 9.2
9.2 vs 8.7Monthly fee of €0 in euro, useful if you bank outside Israel.
9.2 vs 8.7
9.2 vs 8.7Monthly fee of €3.99, so Pepper suits anyone who wants to pay nothing.
9.2 vs 9.0
9.2 vs 8.7
9.2 vs 9.5
9.2 vs 9.4
9.2 vs 9.3
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.1
9.2 vs 9.0
9.2 vs 9.0
9.2 vs 8.9
9.2 vs 8.9- 9.2 vs 8.9
9.2 vs 8.7
9.2 vs 8.5
9.2 vs 8.5
9.2 vs 8.5
9.2 vs 8.4
9.2 vs 8.3
9.2 vs 8.2
9.2 vs 8.1- 9.2 vs 8.1
9.2 vs 8.0
9.2 vs 8.0
9.2 vs 8.0
9.2 vs 9.1
Where Pepper by Leumi is available
- Available
- Israel
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much does Pepper cost to run?+
The monthly fee is ILS 0, and the brand sits first in the ranking on monthly fee. Cash machine withdrawals are free too, with an allowance of ILS 0. Money can leave the account to a bank account or a cash collection point, bank and cash pickup.
Is there a currency conversion fee?+
Yes, currency conversion costs 3%, which is high for the field and pushes the brand well down the ranking on that measure. If you mostly pay and spend in a single currency, that cost rarely comes up.
What interest does the savings offer pay?+
The deposit pays a fixed rate of 2.1% to 2.85% over a term of 12. Because the rate is fixed, it does not rise or fall with the market, and the money stays tied for the length of the term.
Can I open an account without a branch visit?+
Yes, everything happens in the mobile app. Accounts, savings and deposits are all opened in the app, and the brand is listed as digital only, joint account and digital only. There are no branches to find.
Who is Pepper built for?+
It is aimed at students and teens, student and teen. The account is a fixed deposit account, fixed, so it suits people saving for a set period rather than day to day spending.
Can two people share the account?+
A joint account is among the listed features, joint account and digital only. That makes it workable for a couple who want their money in one place, though the savings side stays fixed, fixed.
How do I get help?+
Help runs through chat, phone and help centre. Chat, phone and a help centre are all there, which covers most questions, but there is no branch network to walk into.
Sources
- en.wikipedia.org/wiki/Bank_Leumi checked September 26, 2026
Backs: Founded, Headquarters
“It was founded on February 27, 1902, in Jaffa as the Anglo-Palestine Company”
- lp.pepper.co.il/minisite/open-account/friend checked September 26, 2026
Backs: Audience, Legal entity
“Account for students and students, open and receive a voucher worth up to 1,650 NIS; youth account voucher worth 280 NIS”
- leumi.co.il/he/savings/money-market-products/pepper checked September 26, 2026
Backs: Account kind, Headline rate, Rate type, Term
“Deposit for one year, model 157/8: WOW”
- pepper.co.il checked September 26, 2026
Backs: Access terms, Free ATM withdrawals, Features, Currency conversion fee, Pricing model, Monthly fee, Payout methods, Support channels
“With PEPPER you manage everything only through the mobile app; there is no need to visit a bank branch”
Compiled from 4 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection, Currencies.
Related by the facts
Pepper by Leumi
A student or teen in Israel who wants a fee free account set up entirely in the app.