New Verizon + Openbank Savings account
offers qualified Verizon customers up to $180 per year off their
bill and maximizes savings with a top-tier interest rate 10 times
the national average
- Partnership 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.
- Relationship significantly expands Santander’s national scale
and reach as part of its strategy to become a leading digital bank
with branches and enhances Verizon’s financial service portfolio
with added benefits for 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.”
Ana Botín, Banco Santander Executive Chair, added, “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.”
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.
1 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’s 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’s 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
€220 billion in green financing between 2019 and 2030. At the end
of 2024, Banco Santander had €1.3 trillion in total funds, 173
million customers, 8,000 branches and 207,000 employees.
Verizon + 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 (“FDIC”) 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.
Verizon 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’s 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.
About Santander Bank, N.A
Santander Bank, N.A. is one of the country’s leading retail and
commercial banks, with $102 billion in assets as of December 31,
2024. With its corporate offices in Boston, the Bank’s 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’s 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’s
intermediate holding company in the U.S. For more information on
Santander Bank, please visit www.santanderbank.com. © 2025
Santander Bank, N.A. All rights reserved. Santander, Santander
Bank, Openbank, the Flame Logo are trademarks of © 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20250318565587/en/
Verizon media contact:
George Koroneos george.koroneos@verizon.com Social:
@GLKcreative
Santander media contact:
Andrew Simonelli andrew.simonelli@santander.us
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