Openbank review

The remunerated account pays a variable rate of 2.75%, credited monthly. The rate type is variable, so it can change as the bank reprices the account, and the balance stays withdrawable rather than being tied to a term.

The monthly fee is €0 and the minimum deposit is €1, so the account is listed as no monthly fee. Transfers to your own Openbank accounts run at €0, and the currency conversion fee is 0%.

Deposits are covered by EU DGS up to EUR 100,000. The account is run by Open Bank, S.A., a Spanish bank supervised by Banco de Espana under licence 0073, so the cover comes from the guarantee scheme rather than from the bank itself.

Yes. The account is easy access, and the access terms allow withdrawals at any time, in full or in part, including the interest accrued so far. Transfers between the current and remunerated account are free and immediate.

Transfers cost €0 for national and international transfers in the available currencies, with an exchange rate applied if the currencies differ. Delivery is Immediate for transfers to your own Openbank accounts, so moving money between your own accounts does not wait.

The account carries the free atm and digital only features, so it is digital only with a free ATM element. Support runs through phone, chat and email, covering phone, chat, email and a help centre, and local details follow the iban format.

The rate of 2.75% ranks 263 of 473 on headline rate across the comparison. The account is priced for easy access, so the trade is flexibility rather than the highest return available.

Payouts run through bank, cash pickup and wallet, covering bank transfer, cash pickup, wallet and card. The free ATM allowance is €0, and account details are set up in the iban format for domestic payments.