Openbank review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Openbank runs a Spanish current account, an easy-access savings pot paying 2.75% and a Mastercard debit card from one app. It suits savers who want interest paid monthly with no lock-in, and households that want everyday banking and card spending in one place.
Key facts
- Best for
- A savings account that pays interest without locking the money away.
- Monthly fee
- €0↗
- Currency conversion fee
- 0%↗
- Card type
- Debit↗
- Card network
- Mastercard↗
- Legal entity
- OPEN BANK S.A.↗
- Headquarters
- Spain↗
- Founded
- 1995↗
- Support channels
- Phone, Chat, Email, Help-centre↗
- Features
- Travel, Multi-currency
- Official website
- openbank.es
Brokers
- Minimum deposit
- €1↗
- Stock trade fee
- €1↗
- Account fee
- €0↗
- Markets
- Stocks, ETFs, Funds, Crypto, Bonds↗
- Regulators
- Comision Nacional del Mercado de Valores (CNMV)↗
- Investor protection
- EU ICS up to EUR 20,000↗
- Deposit and withdrawal fees
- free transfers↗
- Platforms
- Web, App↗
- Interest on cash
- 2.75%↗
- Pricing model
- No annual fee
Savings
Loans
- Lender type
- Direct lender↗
Robo-advisors
Facts checked September 26, 2026, 10 sources
Pros and cons
Pros
- Interest is credited monthly, and money is withdrawable at any time in full or in part, accrued interest included
- Transfers between the current and remunerated account are free and immediate, and the card runs on mastercard
- The Mastercard debit card carries a currency conversion fee of 0% with a multi-currency feature for travel
- Deposits sit under EU DGS up to EUR 100,000 and investments under EU ICS up to EUR 20,000
Cons
- The headline rate of 2.75% sits below the site median, which stands at 3%
- The credit card has a rewards type of none, so nothing comes back on card spending
- The robo adviser takes a management fee of 0.42% to 1.03% and needs a minimum investment of €500
Who it suits
- Savers who want interest paid monthly and no fixed term
- Households that want a current account, a savings pot and a card in one app
- Travellers who want a multi-currency card
Who should look elsewhere
- Wise, if a multi-currency account with a monthly fee of £0 matters more than deposit interest
- Starling Personal Account Debit Card, which charges a monthly fee of £0, if a UK current account fits better
- Varo Believe Secured Credit Card, which has a monthly fee of $0, if building a credit record is the aim
The company behind it
Openbank trades as OPEN BANK S.A., a bank headquartered in Spain and founded in 1995. It is licensed in Spain by the Comision Nacional del Mercado de Valores (CNMV), listed with the identifier MiCA CASP 5493000LM0MZ4JPMGM90. Support runs on phone, chat and email, so help is available by phone, chat, email and a help centre.
How Openbank compares
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Where Openbank is available
- Available
- Spain
- Licence in Spain
- Comision Nacional del Mercado de Valores (CNMV) (MiCA CASP 5493000LM0MZ4JPMGM90), checked September 26, 2026, also valid in Spain, Germany
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does it cost to hold the account?+
Openbank charges a monthly fee of €0 and a credit card annual fee of €0. Transfers between the current and the remunerated account are free and immediate, and a stock trade costs €1, so everyday banking adds very little.
How much interest do I earn?+
The easy-access account pays a headline rate of 2.75%, credited monthly, and the rate type is variable. The site median stands at 3%, so the offer sits in the middle of the market rather than at either end.
Can I get my money out whenever I need it?+
Yes. Money is withdrawable at any time in full or in part, including interest already accrued, and transfers between the current and remunerated account are free and immediate, recorded as free transfers. Nothing is locked away, so the balance is there when you need it.
What is the minimum deposit?+
The minimum deposit is €1, a low starting point, and the account kind is easy access. There is no fixed term to serve, so money can go in or come out whenever you want it rather than at a set maturity.
Is my cash protected?+
Cash deposits are covered by the EU deposit guarantee, listed as EU DGS up to EUR 100,000. The cover is a scheme that sits outside the bank, so a balance would be repaid by that scheme if Openbank itself could not pay.
What can I invest through Openbank?+
The investment platform covers stocks, etfs and funds, on web and app, and balances there sit under EU ICS up to EUR 20,000. A stock trade costs €1, and the robo adviser charges a management fee of 0.42% to 1.03% with a minimum investment of €500.
Does the debit card cost extra to use abroad?+
The card runs on mastercard and its currency conversion fee is 0%, with travel and multi currency among its features. A multi-currency card means foreign spending carries nothing on the conversion side, and the card type is debit.
Who licenses Openbank?+
Openbank trades as OPEN BANK S.A., is headquartered in Spain and was founded in 1995. It is licensed by the Comision Nacional del Mercado de Valores (CNMV) under MiCA CASP 5493000LM0MZ4JPMGM90, and help runs on phone, chat and email.
Sources
- esma.europa.eu/sites/default/files/2024-12/CASPS.csv checked September 26, 2026
Backs: Headquarters, Investor protection, Legal entity, Regulators, Licences
“ae_homeMemberState=ES”
- openbank.es/aviso-legal checked September 26, 2026
Backs: Lender type
- openbank.es/inversiones/robo-advisor-gestion-carteras checked September 26, 2026
Backs: Management fee, Minimum investment, Portfolio types
- financeads.com/programs/openbank_pt checked September 26, 2026
Backs: Founded
“Founded in 1995”
- openbank.es checked September 26, 2026
Backs: Account fee, Interest on cash, Deposit and withdrawal fees, Currency conversion fee, Pricing model, Monthly fee
- openbank.es/aviso-legal checked September 26, 2026
Backs: Deposit protection
- openbank.es/cuenta-remunerada checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type, Support channels
“Y puedes ingresar o sacar dinero cuando quieras”
- openbank.es/inversiones/invertir-bolsa-valores checked September 26, 2026
Backs: Markets, Platforms, Stock trade fee
- openbank.es/tarjeta-debito-open-debit checked September 26, 2026
Backs: Card type, Features, Card network
- openbank.es/tarjetas-credito checked September 26, 2026
Backs: Annual fee, APR, Card kind, Rewards type
Compiled from 10 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Free ATM withdrawals, Protection.