From Yahoo Finance: 2025-05-21 11:24:00

Openbank, Santander’s online division, launched in the U.S. in 2024, offering high-yield savings accounts with a 4.4% APY. No fees, no limit on withdrawals, but a $500 minimum deposit. Overdrafts not allowed. App available for banking functions and customer service. Parent company Santander focuses on sustainability and ESG initiatives.

Openbank, a division of Santander, emphasizes sustainability and ESG goals. It aims to align with the Paris climate agreement, achieve zero carbon emissions by 2050, and provide financial inclusion and sustainable financing. Openbank’s U.S. headquarters are in Boston. Deposits are FDIC-insured, and routing number is 231372691.

Openbank’s high-yield savings account offers competitive rates but requires a $500 minimum deposit. No paper statements available and overdrafts are not permitted. The app has mixed reviews, and customer service is available by phone. Deposits are FDIC-insured up to $250,000 per depositor.

Read more: Earn one of the top HYSA rates with this online bank