We consider the membrane model, that is the centered Gaussian field on Zd whose covariance matrix is given by the inverse of the discrete Bilaplacian. We impose a δ- pinning condition, giving a reward of strength ε for the field to be 0 at any site of the lattice. In this paper we prove that in dimensions d\geq 4 covariances of the pinned field decay at least stretched-exponentially, as opposed to the field without pinning, where the decay is polynomial in d\geq 5 and logarithmic in d=4. The proof is based on estimates for certain discrete Sobolev norms, and on a Bernoulli domination result.