OPENBANK- Open Payroll Account
| 1/6 | This number is indicative of the risk of the product, being 1/6 indicative on lower risk and 6/6 of higher risk. | Entity attached to the Spanish Deposit Guarantee Fund. The fund guarantees deposits on money up to 100.000€ per owner and entity. |
The OpenBank Open Payroll Account is everything you expect from a current account, plus a wide range of benefits for having your salary or pension paid directly into your account.
MAIN FEATURES:
- Current Account
- No fees /commissions
- No paycheck required
- Free Debit Card
- 100% online
- Customer Service in English
- Conditions: Online application and use of digital channel (ex. App, web)
EXTRA FEATURES:
- No management or maintenance fees.
- Free to open, maintain or close the account.
- Get 1% cashback on your electricity, gas, telephone, mobile phone and internet bills paid by direct debit from your account when your salary, pension or unemployment benefits are directly deposited or if you receive regular transfers of at least €900 from any bank.
- The Open Debit Card is free for the primary holder.
- The Open Credit card is free when you arrange for your salary to be paid in directly.
- Paying your bills by direct debit is free.
- Add your Openbank cards to your mobile or smart watch and pay at any contactless reader.
- No issue or maintenance fee for the debit card.
- Free transfers in € within Spain and the EU.
- No paycheck. You do not need to have your paycheck paid in to enjoy the benefits.
- No permanency
- 3,000 Banco Santander branches where you can deposit or withdraw cash.
- Upon request, we can send alerts to your mobile phone about transactions in your payroll account.
- Invite up to 4 co-holders or authorised users with whom you want to share your account.
- With the Openbanking® Financial Aggregator, you can add your accounts at other banks to keep an eye on them all at once at Openbank.
- Total security for your cards with Card Control. You can turn your cards on and off at any time or limit their use at ATMs, online shopping and by location.
- You control the devices you use to access your account and choose whether you want to block or log out of them.
BASICS
Account type | Current Account – Personal |
Customer Service in English | Yes |
Fees | 0€/month |
Currency | Euro |
Credit/Debit Card | Free Debit Card |
Online Management | Yes |
ATM withdrawals | No fees for debit card cash withdrawals at more than 7,500 Banco Santander ATMs in Spain |
International ATM withdrawals | 4.5%, minimum 3.50€ (Outside the EU) |
ATMs | 7.500 ATMs available |
RATES AND FEES
Maintenance fee | Free |
Management fee | Free |
Foreign transaction Fee in Eurozone | Free |
REQUIREMENTS
Contract method | Online |
Minimum age | 18 |
Required documentation | NIE/Passport |
Commitments | To be over 18 years of age and arrange to have your salary paid into the account. |
Openbank is an online bank, headquartered in Madrid, Spain. Since its foundation in 1995, it has been a subsidiary of Grupo Santander. They claim to be Europe’s largest digital bank and work to be one of the best in the world.
Backed by the Santander Group: €1,5 Trillion in total assets in 2019.
Openbank offers a 24×7 service to all its customers. This allows them to be in permanent contact with the branch, by telephone, email or chat.
In addition, it allows them to deposit or withdraw cash, commission-free, at more than 4,500 ATMs in the Santander network in Spain.
Open Wealth has been created as its new investment platform. With this platform customers can invest, in real time from a computer or mobile phone, in more than twenty-five markets available to them through the professional trading tool.
The bank also offers a family plan, Open Young, which has a prepaid card for use by children who can even request payment from their own app.
It also has a function that allows customers to activate or deactivate their cards whenever they want, from anywhere, or to defer payments from their mobile.
In addition, Open Mortgage customers can obtain a mortgage with a nominal interest rate of Euribor + 0.99%.
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