Verizon and Santander Bank have announced a multi-year partnership to introduce Verizon + Openbank Savings, a digital high-yield savings account for Verizon mobile and 5G Home customers. This new financial service offers an interest rate 10 times the national average and provides customers with the opportunity to save up to $180 annually on their Verizon bills. Customers who maintain a minimum average daily balance of $1,000 can receive savings on their wireless bills, with greater balances leading to higher rewards. This initiative is part of Verizon’s strategy to extend value beyond connectivity by offering exclusive financial services to its customers.
Beginning in April 2025, Verizon customers can sign up for the Openbank high-yield savings account through Verizon’s website or the MyVerizon app, with the account registration process completed on Openbank’s platform. Hans Vestberg, Chairman and CEO of Verizon, said, “Our scale enables the creation of exclusive financial services solutions and savings accessible only to Verizon customers. Adding the power of Openbank’s secure, simple high yield savings account to our financial offerings provides Verizon customers with unique and differentiated value in the telco and financial services category.” This collaboration reflects both companies' commitment to providing innovative financial solutions and customer value.
