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The Offer
- Verizon Wireless is offering up to $180 in bill credits when you open an OpenBank (Santander) savings account:
- Get up to $60/year ($5/month) in Verizon Bill Credits if your average account balance is between $1,000 and $9,999.99. Offer valid for up to 12 consecutive months from the date you open the account.
- Get up to $120/year ($10/month) in Verizon Bill Credits if your average account balance is between $10,000 and $29,999.99. Offer valid for up to 12 consecutive months from the date you open the account.
- Get up to $180/year ($15/month) in Verizon Bill Credits if your balance is $30,000 or more. Offer valid for up to 12 consecutive months from the date you open the account.
OpenBank by Santander is available nationwide and has a newish savings account which has been offering from the better APY savings account rates out there.
Our Verdict
This offer isn’t the best bank bonus out there, and will only work for Verizon customers. Still, it’s interesting since OpenBank has some of the better rates recently and some people might be opening an account with them anyway. Also, there probably won’t be any 1099 or tax liability on this since it’s a bill discount.
Hat tip to readers Chris and Mike
I keep getting declined after I submit my ID. Anyone else facing this issue and know how to circumvent this ? Tried 3-4 times on mobile (using Verizon app) and PC. However document can only be submitted through mobile camera. They don’t provide any explanation in mail and I tried contacting CS but they aren’t helpful at all.
Is this offer not good for states that have a Santander bank like NJ?
You copied and pasted the same paragraph twice under verdict
Fixed, thx
https://www.doctorofcredit.com/contact-us/#comment-2034735
I try my best
Probably would make you ineligible for any Santander SUBs.
Unclear as this is just a division of Santander, unless you have a data point. Those of us who got bonuses from Key Bank were still able to get Laurel Road bonuses. The online access turned into kind of a nightmare but there were still two payouts. Not sure on this one though, this is something to think about.
Worked for me through the desktop very easily. Did the $1000 min to for 10% return.
for folks who are not Verizon customers, here is the link: https://www.openbank.us/banking/high-yield-savings-account good rate but who know for how long.
What do you think are the odds that they will 1 day offer a similar promo for Fios rather than Verizon Wireless?
Read the fine print because it reads “You’ll need an existing Verizon mobile account with up to 12 phone lines maximum (depending on your plan), 5G Home Internet or LTE Home Internet to be eligible to apply for the Verizon + Openbank Savings account. Verizon Prepaid, Verizon mobile Business, Verizon Fios and Verizon Fios Business accounts are not eligible for Verizon + Openbank Savings.”
Looks to me like that would qualify already.
It seems that you missed the part that I bolded below, which is very important.
“Verizon Prepaid, Verizon mobile Business, Verizon Fios and Verizon Fios Business accounts are not eligible for Verizon + Openbank Savings.”
Can you also add the fine print that
Pat S provided to the post? That way others will know which Verizon services do and do not work with this promo.
Declined midway during application after submitting ID. There was no explanation.
try doing it using the app if u have not. the desktop site isvery glitchy
I also declined with no explanation on Monday. I applied on my phone, and the application automatically opened in the app.
On Tuesday, the app showed a pop up to continue my application. Tried again and was approved.
TLDR the app is glitchy.
I am also declined 2-3 times after submitting ID. I have tried using laptop and mobile. Which app are you referring to here and where did you see continue application ? I never see that, just see a pop up to apply on Verizon app. I started application on Verizon app but it redirects to a website for application. Then it asks me to upload ID at end. Then it’s an immediate declined mail with no explanation whatsoever. The CS is helpless as well.
The Openbank app. IIRC, you create a login during your initial application. Try installing the app and logging in if you can.
So you mean you uploaded the ID in the Openbank app and not in the redirected application form from Verizon ?
No. I didn’t have to upload my ID.
This is only offer isn’t the best bank bonus out there and it will only work for Verizon customers. Still, it’s interesting since OpenBank has been from the better rates recently, and some people might be opening an account with them anyway. Also, there probably won’t be any 1099 or tax liability on this since it’s a bill discount.
Reworded:
This offer isn’t the best bank bonus out there, and will only work for Verizon customers. Still, it’s interesting since OpenBank has had some of the better rates recently. So, some people might be opening an account with them anyway. Also, there probably won’t be any 1099 or tax liability on this since it’s a bill discount.
Thanks for all you guys do.
You better watch out. Someone once called me out on the “Contact Us” page for nicely asking
William Charles to reword something on the Trustco post, similar to what you did here in your request to 
Chuck.
That being said, of course you have nothing to worry about as you don’t have any haters on this site like the many that I have.
Just trying to be helpful.
I’m not sure how you could see my comment as criticism of you. Of course your comment was helpful.
My point was that I was also being helpful in the Trustco post but that didn’t stop someone from using it against me!
I’m not sure how correcting wording of a paragraph could be used against anyone. I don’t believe I changed what Chuck was trying to say.
Here is the request that I made to Will in the Trustco post: #1966373 .
Here is the comment that I feel was someone using my helpful comment against me: #1968884 .
Do you now agree with me that I was treated unfairly there?
I’m not digging into it. I remember the email post when someone sent you hate email, and that is unfortunate and wrong but as far as the rest of it that’s too much to read and not related to what I’m on this site for.
Her reply to me was literally 2 sentences long and I provided the exact link to the comment.
However, I hear you loud and clear and I won’t be bothering you again.
Fixed thx, and thanks for the wording as it makes it easier for me