Banking · Retail bank
Openbank: online bank of the Santander group, in Spain and Mexico
Online bank of the Santander group, licensed in Spain, whose brand is rolled out in other countries by separate entities, including an authorised Mexican bank. Each country has its own entity and its own terms.
Please note
Characteristics
- Family
- Retail bank
- Regulator
- Banco de España
- Regulator country
- Spain
- Deposit guarantee
- Not provided
- Remote opening
- Yes
- Currencies
- EUR
- Services
- Current account · Payment card · Savings · Securities and trading
- Accepted residencies
- Not provided
- Refused residencies
- Not provided
- Home country
- Spain
Residence requirements were not recorded; the offer and the contracting entity vary by country (Spain, Mexico, and other markets not verified here).
Entities and regulatory status
| Entity | Jurisdiction | Status | Regulator | Protection of funds |
|---|---|---|---|---|
| Open Bank, S.A.holds the accountEntered in the register of banks and bankers of the Banco de España according to the website footer; registration code not recorded. | Spain | Banks with their own licence | Banco de EspañaLicence NIF A28122570 | Fondo de Garantía de Depósitos (à confirmer) |
| Openbank México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander Méxicoholds the accountAuthorisation to organise and operate as a subsidiary multiple banking institution, dated 12 July 2023, amended by an instrument published in the Diario Oficial de la Federación. | Mexico | Banks with their own licence | SHCP / CNBVLicence Oficio P225/2023register · sidof.segob.gob.mx | IPAB (à confirmer) |
Who can open or keep an account
| Country of residence | Case | Status | Conditions |
|---|---|---|---|
| Spain | Opening and keeping | Unknown | Requirements not recorded. |
| Mexico | Opening | Unknown | Separate Mexican entity; requirements not recorded. |
A country missing from this table is neither accepted nor refused: the information is not published.
Published figures
- Account feeNot provided
- Brokerage feeNot provided
- Deposit guarantee ceilingNot provided
- Entry ticketNot provided
Which entity, which status
In Spain, the account is held by Open Bank, S.A., a bank entered in the register of banks and bankers of the Banco de España, part of the Santander group (Openbank website legal notices).
In Mexico, the brand is used by a separate entity, Openbank México, S.A., a multiple banking institution of the Santander México financial group, authorised in July 2023; an instrument amending the terms of this authorisation was published in the Diario Oficial de la Federación (Diario Oficial de la Federación).
The registration code of Open Bank, S.A. with the Banco de España was not recorded. The entities that carry the brand in Germany, the Netherlands, Portugal, Argentina or the United States were not verified: they must not be confused with the Spanish bank.
Who can open an account
Residence requirements, required documents and the rule applying in case of a move: not recorded. A client of Openbank Spain who settles in Mexico changes entity, not merely branch.
Account, card and currencies
Openbank offers current accounts, cards, savings, funds and investment plans. In Spain, accounts are in euros; in Mexico, in pesos.
Fees, limits and foreign-currency accounts: not recorded.
Protection of funds
As Open Bank, S.A. is a bank licensed in Spain, its deposits normally fall under the Spanish deposit guarantee fund; the page consulted does not expressly mention it. In Mexico, protection falls under the Mexican scheme applicable to multiple banking institutions.
Membership of the Fondo de Garantía de Depósitos and coverage limits (Spain, Mexico) not recorded on an official page that was read.
Points to check
- The entity that holds the account in the country of opening: a single brand covers several banks.
- The guarantee applicable in that country, and its limit.