This will give Openbank users from the region access to a product that the company will gradually grow over the year.
By offering German IBANs, Openbank customers will be able to receive their salaries on the card, set up direct debits for bills, and arrange their capital gains exemption orders, such as for interest income, among other actions.
Moreover, customers can now apply for personal loans of up to EUR 24,000 with terms of up to 60 months. The interest rates for these loans range from 4.33% p.a.
The bank has also improved its mobile app, introducing new features such as a more intuitive interface that enables account opening and access in a few minutes. This update also includes instant and free transfers within the eurozone for increased convenience. Over the course of the year, Openbank will continue to expand its offering to customers in Germany with additional products and services.
This measure means the company now has a German branch instead of being under the European passport framework, thus offering more products to its German clients and simplifying their everyday banking experience. Additionally, Openbank in Germany is now subject to regulatory oversight by BaFin, a German federal public law institution, in addition to the Spanish banking supervision by Banco de España.
In addition to the local IBANs and loans, the bank offers a digital banking model, free current and savings accounts, deposits and investment products. Additional benefits include up to five free cash withdrawals per months at any ATM within the eurozone, and unlimited access to cash withdrawals at over 40.000 Santander ATMs worldwide.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now