Openbank
Santander's digital bank; now US/MX too.
- Who holds it
- The company itself — it holds a full banking licence — Full banking license within Santander Group (ECB/Bank of Spain); US via Santander Bank N.A..
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from Openbank’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| HQ | Madrid, ES |
| Founded | 1995 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | Full banking license within Santander Group (ECB/Bank of Spain); US via Santander Bank N.A. |
| Card | Visa/MC · Debit |
| Yield | Competitive savers |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Europe |
Verified links: official site ↗
Common questions about Openbank
What is Openbank?
Openbank is a fiat neobank, headquartered in Madrid, ES and founded in 1995. Your money is held custodially, so Openbank or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (Full banking license within Santander Group (ECB/Bank of Spain); US via Santander Bank N.A.).
Does Openbank have a card, and where can you use it?
It issues a Visa and Mastercard debit card. It is available in Europe.
Does Openbank require KYC?
Yes. Openbank requires identity verification (KYC) to open an account, as a licensed bank.
What does Openbank cost?
From the verified fields: yield Competitive savers. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Openbank before relying on them.
Peers
Monzo · Wise · Starling Bank · Atom Bank · Zopa Bank · Chase UK
Openbank appears in
Neobanks that hold their own banking license (132) · Neobanks available in Europe (144) · Neobanks that issue a Visa card (182) · Neobanks that issue a Mastercard (150)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.