Openbank review 2026
How good is Openbank really?
71/100 points
kosten.org editorial team
Last updated: 2026-03-13
71/100
Points
Based on published terms and features
Openbank is the digital bank of the Santander group and has offered a free current account in Germany since 2020. As a subsidiary of one of the world's largest banking groups, Openbank has a strong financial backing. We review whether the overall package can keep up with German competition.
Highlights of our Openbank review
- Openbank scores 71/100 points in our rating – strong value for money.
- Completely free current account with a free credit card.
- Call money account with attractive interest.
- Santander group as a financially strong parent company.
Table of contents
1 Account management
19/25
Points
The Openbank current account is completely free – no account fees and no minimum monthly deposit requirement. The overdraft rate is 11.10% a year – in the customary market range. Account management is digital and straightforward. Instant transfers are free.
Scoring (19/25): A free account with no conditions plus free instant transfers. Only the overdraft rate prevents full marks.
2 Card offer
12/15
Points
A free debit card and a free credit card are included – few banks offer that. No girocard, which can be a problem at some German terminals. Apple Pay and Google Pay are fully supported.
Scoring (12/15): A free debit AND credit card is a clear competitive advantage. Only the missing girocard is a minimal deduction.
3 Cash withdrawals
12/20
Points
Free cash withdrawals worldwide with the credit card – with no limit. No cash machine network of its own in Germany. Cash cannot be deposited. For customers who often need to deposit cash, that is a problem.
Scoring (12/20): Free withdrawals worldwide are top. The missing cash deposits and lack of a network of its own cost points.
4 Paying
7/8
Points
Apple Pay and Google Pay fully supported. Contactless payment worldwide. No foreign-currency fees in the eurozone. Outside the eurozone a fair 1.0% – cheaper than most German banks.
Scoring (7/8): Outstanding payment terms with low foreign-currency fees. Almost full marks.
5 Interest & saving
5/7
Points
Openbank offers an attractive call money account (Tagesgeld, instant-access savings) with interest on balances that is among the best on the market. New customers temporarily get higher interest rates. That is a clear plus compared with most German branch and direct banks.
Scoring (5/7): Good call money offer with competitive interest.
6 Banking app & features
6/10
Points
The Openbank app has 4.3 stars in the App Store and offers a modern, clear interface. Features: categorisation of spending, savings rules, account analyses. No sub-accounts/Spaces available. The app is solid, but not as feature-rich as N26 or Revolut.
Scoring (6/10): Good app with useful features. Deductions for missing sub-accounts and limited personalisation.
7 Customer service
5/8
Points
Support can be reached by in-app chat, email and phone. No branches in Germany. Availability is generally rated as good. 24/7 support via the app.
Scoring (5/8): Good digital support with a 24/7 option. No branches.
8 Security & extras
5/7
Points
Openbank is regulated by the Bank of Spain and subject to Spanish deposit protection of up to €100,000. The Santander group as parent company offers financial stability. The location of regulation (Spain rather than Germany) can be a source of uncertainty for some customers.
Scoring (5/7): Strong parent company and European deposit protection. Deduction for non-German regulation.
Pros & cons at a glance
Pros
- Completely free current account + credit card
- Free cash withdrawals worldwide
- Attractive call money offer
- Santander as a strong parent company
Cons
- No girocard for Germany
- No cash deposits possible
- Spanish rather than German regulation
- No branch network
Conclusion: Openbank review
71/100
Good (2.5)
Openbank scores 71 out of 100 points and offers one of the best values for money on the market: a free account, a free credit card, free withdrawals worldwide and attractive call money. For digitally savvy customers with no need for cash deposits or a girocard, Openbank is a first-class choice.
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