Visit openbank.us and select Open savings account on the home page. You can also open an account using Openbank’s mobile banking app, which is available for free on the App Store or Google Play. To open an account, you’ll need to: Make a minimum initial deposit of $500 Be at least 18 years old Have a U.S. mobile phone number Download the Openbank app onto a smartphone, which will become your trusted mobile device Be a U.S. Citizen or a U.S. Resident Alien with a valid residential address within our current service area (which is every state in the U.S. and the District of Columbia)

High-yield savings accounts are safe if they’re offered at an FDIC-insured bank or a National Credit Union Administration (NCUA) credit union and within federal insurance limits and guidelines.

High-yield savings accounts are interest-bearing savings accounts that can offer higher interest rates than the national average of standard savings accounts. They’re also FDIC-insured, if held at a member institution. Openbank is a part of Santander Bank, N.A., which is a member institution of FDIC. As a result, our High Yield Savings accounts are FDIC insured up to the standard maximum deposit insurance amount of $250,000 per depositor, per ownership category. Deposits at Santander Bank and its Openbank division are combined for FDIC purposes and are not separately insured. For more informa