Openbank launches cryptocurrency trading service
Openbank, Grupo Santander’s 100% digital bank, continues to expand its product offering by allowing customers to trade the main cryptocurrencies listed on the market.
Starting today, the bank will enable customers to buy, sell or hold Bitcoin, Ether, Litecoin, Polygon and Cardano together with their other investments. And all this without having to transfer money to any other platform, as well as enjoying the backing of Santander and the guarantees and investor protection provided by the European Markets in Crypto-Assets Regulation (MiCA).
Over the coming months, Openbank will expand its portfolio of available cryptocurrencies and will offer new functionalities such as conversion between different cryptocurrencies.
“By incorporating the main cryptocurrencies into our investment platform, we are responding to the demand of some of our customers and continue to strengthen a broad range of products and services through an agile, simple technology platform backed by one of the world’s leading financial groups.”
Coty de Monteverde, Head of Crypto at Grupo Santander
The new cryptocurrency trading service comes with competitive fees of 1.49% on asset sale and purchases (with a minimum of €1 per operation) and no custody fees. In a few weeks, these assets will also be available to Openbank customers in Spain.
This service strengthens Openbank’s offering to investors in Germany through innovative products and services. It currently provides an automated investment service, Robo Advisor; a portfolio of more than 3,000 stocks; 3,000 investment funds from over 123 asset managers; and more than 2,000 ETFs. In recent weeks, it has also launched a broker platform equipped with artificial intelligence-based tools that deliver target prices for more than 1,000 European and US stocks.
Verizon & Santander Bank partner to bring Openbank’s digital banking experience to Verizon customers
Verizon and Santander Bank, N.A., part of the global banking leader Santander1, today announced a multi-year U.S. partnership to bring a new, competitive high yield savings account to millions of Verizon mobile and 5G Home customers. Introducing Verizon + Openbank Savings: a digital high yield savings account with a rate 10 times the national average and the ability to save up to $180 a year on your Verizon bill. Verizon + Openbank Savings joins Verizon’s portfolio of financial services offerings, yet another example of outstanding value and benefits on top of mobile and home connectivity.
“Verizon has long been committed to delivering value and savings beyond wireless services,” said Hans Vestberg, Chairman and CEO of Verizon. “Our scale enables the creation of exclusive financial services solutions and savings accessible only to Verizon customers. Adding the power of Openbank’s secure, simple high yield savings account to our financial offerings provides Verizon customers with unique and differentiated value in the telco and financial services category. This collaboration reinforces our dedication to delivering meaningful and exclusive benefits that support how our customers live, work, play AND save.”
“By partnering with Verizon, the nation’s leading mobile provider, Openbank can offer a differentiated savings opportunity and digital experience to millions of consumers across the U.S. The Verizon partnership is a significant milestone for Santander as we scale our U.S. business further by bringing Openbank’s secure and simple banking experience and compelling rewards to Verizon’s customers nationwide – backed by a leading global bank that has earned the trust of more than 173 million customers. This is an important step in our growth strategy, and I am excited for what’s ahead.”
Ana Botín, Banco Santander Executive Chair
Incredible savings with Verizon + Openbank
In addition to maximizing savings with Verizon + Openbank’s competitive interest rate at 10 times the national average, customers can also save on their Verizon wireless bill, starting with a minimum average daily balance of $1,000. The higher the average daily balance, the higher the wireless bill savings – up to $180 per year.
Signing up is simple
Starting in April, Verizon customers can easily sign up for an Openbank high yield savings account via verizon.com or the MyVerizon app. Customers will then be directed to the Openbank site to complete the account registration process. After opening their account, customers can use the Openbank app to deposit and withdraw funds, check their monthly interest rate and manage their accounts. To learn more, you can visit verizon.com/startsaving.
Unlocking a savings growth opportunity
Santander US research reveals that while interest rates have been at their highest levels in nearly two decades, many consumers have not taken advantage of high-rate products, such as high yield savings accounts, to grow their savings. The research also found consumers’ top consideration for selecting a banking partner are safety, stability, and 24/7 digital access. Openbank’s digital platform provides a secure, seamless banking experience with no fees, low minimum deposits and 24/7 access to funds and customer support.
The Openbank digital banking platform launched in the U.S. market in late 2024 with a high yield savings account offering that quickly reached more than $3 billion (USD) in deposits. The digital platform is now available nationwide, and will begin offering additional products, such as Certificates of Deposit (CDs) and Checking Accounts, later in 2025. Openbank in the U.S. is a division of Santander Bank, N.A., which is a Member of the FDIC. For more information about Openbank by Santander, including eligibility, please visit openbank.us.
With exclusive savings, top-tier perks, the flexibility to customize your plan with myPlan and myHome, and now the incredible Verizon + Openbank Savings account, it’s never been a better time to be a Verizon customer.
Openbank launches in Mexico
Openbank, Grupo Santander’s fully digital bank, announced its launch in Mexico with a complete suite of everyday financial products. After having received some 30,000 requests to join the waiting list in recent weeks, one of the world’s most advanced digital banks — backed by Santander — today welcomes its first customers in Mexico, who can sign up in just five minutes.
With its fully digital proposition, Openbank’s unique model combines the innovation and benefits of a fintech with a broad range of products that meet core financial needs, a 24×7 customer service line, and a network of over 10,000 Santander ATMs countrywide. Its agile and simple technology platform, which it constantly enhances, helps manage day-to-day finances, and its efficient structure enables it to offer competitive savings products and loans with the guarantee of a bank that’s part of Grupo Santander.
As its first steps on Mexican soil, Openbank is launching the Débito Open account with a 10% yield, no minimum balance or fees, and backed by the Instituto para la Protección al Ahorro Bancario (Institute for the Protection of Bank Savings — IPAB) up to MXN 3.35 million. What’s more, customers get free SPEI transfers, cash withdrawals at Santander ATMs, a debit card, and a credit card with 3% cash back on online purchases and the possibility of three-month, interest-free deferrals on purchases over MXN 1,500.
Openbank is Santander’s digital first model that will enable the Group to grow its retail business through a platform built using in-house technology and tested successfully in several European countries in recent years. It is the most valued bank by its customers in its core European market and operates in Germany, the Netherlands, Portugal, Spain and the US, where it has captured USD 2 billion in deposits in its first three months.
“The launch of Openbank is the latest marker on the Group’s transformation journey and represents a considerable opportunity for us to earn the trust of new digital customers through an agile, intuitive, first-rate experience with the support and security of Santander.”
Ana Botín, Executive Chair of Santander
The customer experience in Mexico includes free features to heighten card security by configuring use based on location and transaction and merchant type. That way, customers can choose when and where to use their cards. Openbank Mexico will add new products and services to its offering in the coming months.
“Openbank is now available to anyone looking for a best-in-class digital banking experience in Mexico. Our ambition is to offer a complete set of products that cover our customers’ every financial need over time through one of the most competitive payments, savings and credit options in the market. And our priority is to deliver the best customer experience that’s accessible to all.”
Matías Núñez, CEO of Openbank Mexico
“This launch completes our strategy to offer a digital bank with branches, as is the case with Banco Santander and a fully digital bank like Openbank. These are two complementary institutions that will help us boost the Group’s competitiveness and financial inclusion in Mexico.”
Felipe García Ascencio, CEO of Santander Mexico
Openbank by Santander hits $2 billion in deposits in the United States
Santander Bank, N.A. (“Santander Bank” or “the Bank”) announced that the Openbank digital bank platform topped $2 billion in total deposits* since going to market in the United States in the fourth quarter of 2024. This achievement represents a significant milestone in the Santander US business strategy to efficiently boost national deposit acquisition that will fuel its leading Auto lending franchise and transform its Retail Bank. The business also launched a 2025 branding campaign, You’re Smart Like That, across out-of-home, digital and social channels.
The Retail Bank remains a priority for Santander US, with the goal of becoming a national, digital bank with branches. In 2025, the Bank will continue executing against the below strategic priorities to achieve its ambition.
Expand the Openbank digital platform: Building from the successful launch of the Openbank High Yield Savings account, the Openbank digital platform will begin offering additional digital capabilities and products, such as Certificates of Deposit (CDs), Payments and Checking Accounts, in 2025 and beyond. Enhance bank branches: The Bank’s 2024 transformation efforts were well received, with increasing Net Promoter Scores, industry rankings and retail deposit growth.
“Our aim is to become a national, digital bank with branches and reaching this deposit milestone at record pace is a testament to our customer-obsessed mindset, commitment to innovation, and global connectivity. We are uniquely positioned to provide U.S. consumers with the digital banking experience of a FinTech and the strength and stability of a leading global bank.”
Swati Bhatia, Head of Retail Banking & Transformation for Santander Bank
Globally, Openbank is Santander’s digital-first banking platform. It is currently Europe’s largest 100% digital bank by deposits, with operations in four European countries (Spain, Germany, Portugal, and the Netherlands) and Mexico.
In the United States, Openbank is a division of Santander Bank, N.A., which is a Member of the FDIC.
Santander launches Openbank in the US, expanding its consumer banking business nationwide
Santander is launching Openbank in the United States, enabling the group to serve individual consumers nationwide for the first time, expanding beyond its established branch network in the Northeast.
Through the Openbank brand, Santander will offer U.S. customers a competitive high yield savings product, as well as an intuitive, secure, and seamless customer experience. Further products will be rolled out through 2025, allowing Openbank to offer a full banking service in the US, as it does already in Europe.
“The launch of Openbank in the U.S. is a major milestone in the group’s transformation, as the platform runs on Santander’s own proprietary technology that is being rolled out across all its consumer global businesses.
The platform integrates the bank’s core banking infrastructure with a front-end customer and data layer that enables, among many other benefits, an account to be opened via the Openbank app (available through the app store) or website (Openbank.us) in as little as five minutes, with a best-in-class experience.
The Openbank launch will help accelerate Santander US execution against its growth strategy, generating deposits to fund its leading auto franchise.
The launch of Openbank in the U.S. marks a significant milestone in our group’s transformation. Openbank reflects our belief that to be the best for both our customers and shareholders, deploying our own core and front-end cloud-based technology globally is essential and will deliver sustainable competitive advantage. The U.S. is a key market for us, where we have been expanding our business over the past years. Openbank is banking made easy and will offer the best high yield savings accounts in America that is simple and fast with a competitive rate, and built by Santander, a bank that has the trust of 168 million customers.”
Ana Botín, Executive Chairman of Banco Santander
Openbank combines the agility and innovation of a fintech with the security and backing of one of the world’s largest financial groups. It is currently Europe’s largest 100% digital bank by deposits, with operations in four European countries (Spain, Germany, Portugal, and the Netherlands), and has achieved one of the highest net promoter scores (NPS) in its largest market in recent years.
“Openbank is one of the most advanced digital banks in Europe, with a complete value proposition that has been successfully tested across various markets. Our goal is to offer U.S. customers the best high yield savings account through a digital-first service, which is fast, simple with a competitive rate, and a superior customer experience accessible anytime, anywhere.”
Petri Nikkilä, Global CEO of Openbank
Eligible U.S. customers can now access Openbank’s offer through its website (openbank.us) and mobile app. Santander is one of the largest banks in the world by customer numbers, serving 168 million people and businesses across Europe and the Americas. It is also one of the largest global banks by deposits, managing $1.3 trillion in customer funds.