- \n
- \nPartnership brings together industry leaders in mobility and banking to provide a secure, seamless digital banking experience to Verizon customers with no fees, low minimum deposits and 24\/7 access to funds.\n<\/li>\n
- \nRelationship significantly expands Santander\u2019s national scale and reach as part of its strategy to become a leading digital bank with branches andenhances Verizon\u2019s financial service portfolio with added benefits for customers.\n<\/li>\n<\/ul>\n
BOSTON & NEW YORK–(BUSINESS WIRE<\/a>)–
\nVerizon and Santander Bank, N.A., part of the global banking leader Santander1<\/sup>, 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>: 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\u2019s portfolio of financial services offerings, yet another example of outstanding value and benefits on top of mobile and home connectivity.\n<\/p>\n\n\u201cVerizon has long been committed to delivering value and savings beyond wireless services,\u201d said Hans Vestberg, Chairman and CEO of Verizon. \u201cOur scale enables the creation of exclusive financial services solutions and savings accessible only to Verizon customers. Adding the power of Openbank\u2019s 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.\u201d\n<\/p>\n
\nAna Bot\u00edn, Banco Santander Executive Chair, added, \u201cBy partnering with Verizon, the nation\u2019s 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\u2019s secure and simple banking experience and compelling rewards to Verizon\u2019s customers nationwide \u2013 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\u2019s ahead.\u201d\n<\/p>\n
Incredible savings with Verizon + Openbank<\/b><\/p>\n
\nIn addition to maximizing savings with Verizon + Openbank\u2019s 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 \u2013 up to $180 per year.\n<\/p>\n
Signing up is simple<\/b><\/p>\n
\nStarting in April, Verizon customers can easily sign up for an Openbank high yield savings account via verizon.com<\/a> 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<\/a>.\n<\/p>\n
Unlocking a savings growth opportunity<\/b><\/p>\n
\nSantander 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\u2019 top consideration for selecting a banking partner are safety, stability, and 24\/7 digital access. Openbank\u2019s digital platform provides a secure, seamless banking experience with no fees, low minimum deposits and 24\/7 access to funds and customer support.\n<\/p>\n
\nThe 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<\/a>.\n<\/p>\n
\nWith exclusive savings, top-tier perks, the flexibility to customize your plan with myPlan and myHome, and now the incredible Verizon + Openbank Savings<\/a> account, it\u2019s never been a better time to be a Verizon customer.\n<\/p>\n
1 <\/sup>Banco Santander is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group\u2019s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank\u2019s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising \u20ac220 billion in green financing between 2019 and 2030. At the end of 2024, Banco Santander had \u20ac1.3 trillion in total funds, 173 million customers, 8,000 branches and 207,000 employees.\n<\/p>\n
\nVerizon + Openbank Savings is offered exclusively by Openbank, a division of Santander Bank, N.A., and is not managed, housed, or controlled by Verizon. Santander Bank, N.A., offering your account through its Openbank division, is a Federal Deposit Insurance Corporation (\u201cFDIC\u201d) insured institution. Deposits at Santander Bank, N.A. and its Openbank division are combined for FDIC insurance purposes (FDIC Cert. 29950) and are not separately insured. There is a maximum of $250,000 of deposit insurance from the FDIC per depositor for each category of account ownership. Please visit fdic.gov for details. Verizon is not a chartered banking institution and is not insured by FDIC.\n<\/p>\n
\nVerizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.8 billion in 2024. Verizon\u2019s world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com\/stores<\/a>.\n<\/p>\n
\nAbout Santander Bank, N.A\n<\/p>\n
\nSantander Bank, N.A. is one of the country\u2019s leading retail and commercial banks, with $102 billion in assets as of December 31, 2024. With its corporate offices in Boston, the Bank\u2019s more than 4,400 employees and more than 1.8 million customers are principally located in Massachusetts, New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania and Delaware. The Bank is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN), recognized as one of the world\u2019s most admired companies by Fortune Magazine in 2024, with approximately 173 million customers in the U.S., Europe, and Latin America. Santander Bank is overseen by Santander Holdings USA, Inc., Banco Santander\u2019s intermediate holding company in the U.S. For more information on Santander Bank, please visit www.santanderbank.com<\/a>. \u00a9 2025 Santander Bank, N.A. All rights reserved. Santander, Santander Bank, Openbank, the Flame Logo are trademarks of \u00a9 2025 Santander Bank, N.A. All rights reserved. Santander, Santander Bank, Openbank, the Flame Logo are trademarks of Banco Santander, S.A. or its subsidiaries in the United States or other countries. All other trademarks are the property of their respective owners. For more information on Openbank in the United States, please visit www.openbank.us<\/a>.\n<\/p>\n
\nVERIZON\u2019S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com\/news<\/a>. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com\/about\/rss-feeds\/<\/a>.\n<\/p>\n
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View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250318565587\/en\/<\/a><\/span><\/p>\n
Verizon media contact:<\/b><\/p>\n
\nGeorge Koroneos
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george.koroneos@verizon.com
\n<\/a>
Social: @GLKcreative\n<\/p>\nSantander media contact:<\/b><\/p>\n
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