Openbank, the digital bank of the Spanish group Santander, started operating in Portugal in December last year. To reinforce its bet on the national market, the entity presented today, February 4, its first commercial offer with younger consumers in mind.
The bank offers an account without commissions and with a return of 2% in the first 6 months, up to a maximum of 5,000 euros. Through the Openbank website or app, cardholders can make free transfers in euros to any European Union country.
Until the end of May this year, accounts opened at Openbank do not have any opening or maintenance costs. Account associated is the free debit card "42", which also allows you to make payments in foreign currencies without additional costs until June, when the functionality starts to cost 7.99 euros per month.
With the "42", cardholders can make five cash withdrawals per month at no additional cost in the Euro zone and unlimited withdrawals at Banco Santander ATMs worldwide. The card is compatible with mobile payment systems such as Openbank Pay and Apple Pay.
Following a socially responsible banking strategy, the use of 42 also supports social causes. We believe that the development of a responsible banking strategy, committed to the future of the planet and to the well-being of society, is the only way to understand banking of the future, says Ezequiel Szafir, CEO of Openbank, quoted in a press release.
Thus, each time a customer makes a payment with the card, the amount rounded up to the next euro unit is donated to an NGO of his choice, such as the Portuguese League Against Cancer and the Salvador Association. In addition, it is possible to establish a minimum and maximum amount to be donated.
To help customers manage their investments, Openbank offers a platform automatically managed by a robot. The robotic consultant allows you to subscribe to investment fund portfolios, adjusting each strategy to market movements. The portfolio developed and supervised by the Openbank Investment Committee in partnership with BlackRock and Santander Asset Management, advances the institution.