Openbank
Spanish online bank of the Santander group with a no-fee account and card, savings account, shares, ETFs and crypto
Quick Overview
| Company | Open Bank, S.A. |
|---|---|
| Category | Neobanks and Digital Banks |
| Headquarters | Boadilla del Monte, Madrid, Spain |
| Founded | Not stated |
| EU Presence | Yes - Spain (EU) |
| Data Location | Spain |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | Account and card, remunerated account, deposits, shares and ETFs, crypto, Bizum, credit cards, referral offer |
| Pricing | 0 euro account and card; shares and ETFs at €1 commission, €0 custody (checked 28 October 2026) |
| Best For | Residents of Spain wanting a no-fee online account backed by a large banking group |
| Replaces | Chime, Robinhood, traditional bank accounts |
Detailed Review
Open Bank, S.A. is a bank entered in the Banco de España register under number 0073 and the Madrid commercial register, with its address in Boadilla del Monte. The site describes it as the online bank of the Santander group, and says it is a member of the Spanish deposit guarantee fund, which covers €100,000 per depositor.
The pages are in Spanish and the offers are for Spain, so non-Spanish speakers will find less help in English.
Account and Savings
The site advertises 0 euro for the account and card, free cash withdrawals at more than 5,000 Santander ATMs and a remunerated account at 3.25% TAE for a year when Bizum is brought over. Promotional conditions apply, including a minimum monthly income on some offers.
Investing
Shares and ETFs cost €1 commission with €0 custody, and the site also offers crypto with a risk warning.
Bank Group Backing
Because Openbank sits in the Santander group, the site notes ATM access through Santander and Santander-based credit cards. This is a differentiator from independent app banks.
Limitations to Consider
The site checked is in Spanish and targets Spain. Headline rates are time-limited promotions with conditions such as Bizum or payroll. It is not an independent challenger, since it belongs to a large banking group. Features outside Spain were not verified.
Who Should Use Openbank
People living in Spain who want a no-fee online account and a brokerage at a bank of a large group.
Pros and Cons
Pros
- 0 euro account and card
- Deposit guarantee €100,000 per depositor
- €1 commission on shares and ETFs
- Access to Santander ATMs
- Spanish banking licence and register entry
Cons
- Spanish-language, Spain-focused pages
- Promotional rates have conditions
- Part of a large banking group
- Other countries not verified
Alternatives to Openbank
Other European neobanks and digital banks worth comparing before you decide:
bunq
Netherlands · Dutch licensed bank with four personal plans, free to €18.99
Tomorrow
Germany · Sustainable German current account from €0 with Solaris as bank
Lunar
Denmark · Danish bank with a free account, Plus and Unlimited plans
N26
Germany · German mobile bank with Standard, Smart, Go and Metal plans
See all European neobanks and digital banks or compare them directly against Chime on our alternatives page.
Frequently Asked Questions
The site describes it as the online bank of the Santander group; the legal entity is Open Bank, S.A.
The site shows 0 euro for the account and card in Spain.
The site says it belongs to the Spanish deposit guarantee fund, covering €100,000 per depositor.