Santander’s Openbank Launches in Mexico with High-Yield Savings Account and Digital Banking Solutions

Santander’s Openbank Launches in Mexico with High-Yield Savings Account and Digital Banking Solutions

(IN BRIEF) Openbank, Grupo Santander’s digital banking platform, has launched in Mexico, offering a fully digital experience with no fees or minimum balance requirements. Its flagship product is a savings account providing up to 12.5% annual returns. Customers can also access free ATM withdrawals from Santander’s network of over 10,000 ATMs. Pre-registered users will soon be able to open accounts in minutes via the app. Backed by Santander’s global expertise, Openbank aims to deliver competitive financial products paired with advanced security features and plans to expand its offerings in the coming months.

(PRESS RELEASE) MADRID, 20-Nov-2024 — /EuropaWire/ — Openbank, the fully digital arm of Grupo Santander, has officially launched operations in Mexico, offering a seamless digital banking experience through its app and website. Known for its innovative technology and competitive products, Openbank enters the Mexican market with a compelling savings account offering up to 12.5% annual returns, alongside debit and credit cards, free SPEI transfers, and no hidden fees or minimum balance requirements. Customers can also enjoy fee-free withdrawals from Santander’s extensive network of over 10,000 ATMs.

In a phased rollout, individuals who joined the pre-launch waiting list will receive invitations to open accounts via the app in just minutes. Openbank CEO Matías Núñez emphasized the ease and security of the digital platform: “Openbank Mexico is here for anyone looking to manage their finances 100% digitally, supported by Santander’s global reputation. Combining advanced digital features with the trust of a major international bank, we’re confident Mexicans will warmly embrace our offering.”

Global CEO of Openbank, Petri Nikkila, highlighted the strategic significance of the launch: “Mexico represents a tremendous opportunity for Openbank to showcase its state-of-the-art banking model, an integral part of Santander’s digital transformation. We aim to set a benchmark in delivering competitive products alongside an exceptional digital experience.”

Openbank, which has been successful in markets such as Spain, Germany, Portugal, and the Netherlands, is Europe’s largest digital bank by deposits and has rapidly grown its customer base. Recently, it began operations in the U.S., extending its reach into North America.

In Mexico, Openbank provides free security features to enhance the use of its cards, including controls for transactions by location and type. More products and services tailored to the Mexican market are set to launch in the coming months. Customer deposits are protected by the Institute for the Protection of Bank Savings (IPAB), while the bank’s stability and growth potential have been recognized by Moody’s and Fitch with top local-scale ratings.

With this launch, Openbank positions itself as a transformative force in Mexico’s banking landscape, combining cutting-edge digital tools with reliable, customer-focused financial solutions.

Media Contact:

Corporate Communications
Ciudad Grupo Santander, edificio Arrecife, planta 2
28660 Boadilla del Monte (Madrid)
comunicacion@gruposantander.com
www.santander.com – Twitter: @bancosantander

SOURCE: Santander