Savings Account Review

Openbank Review (2026)

A strong APY backed by Santander

By Wealthy Pot · Last updated September 2026

TypeOnline bank

APY3.80% APY (variable; may vary by ZIP)

Minimum to open$500

Min balance for top APY$0

Monthly fee$0

FDICFDIC-insured (Santander Bank, N.A.)

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Who Openbank is for

Rate-chasers who want a strong APY from a big global bank

APY, minimums & fees

Openbank advertises 3.80% APY (variable; may vary by ZIP), with a $500 minimum to open and a $0 monthly fee. Minimum balance to earn the top rate: $0. FDIC-insured (Santander Bank, N.A.). APYs are variable. Confirm the current rate on the official site.

The bottom line

A strong APY backed by Santander Main drawback: newer us platform; a $500 minimum to open; rate can vary by zip.

Visit Openbank ↗Compare all savings accounts

See how Openbank stacks up in our high-yield savings comparison, or find a banking app in our neobanks comparison.

We summarize hands-on assessment, not user reviews. APYs are variable and re-checked against Openbank's official page. Some accounts are brokerage cash insured through partner banks rather than traditional bank savings. Some outbound links may be affiliate links. That never affects which accounts we include or how we rate them. Nothing here is financial advice.