OpenbankReviews of openbank.us

I was happy with this bank except for when I wanted to close the account. I had to do it via phone. OK, I can see how that might be important with fraud issues abounding and what not. The rep said that I had to move the yet-to-be-credited interest out within three days in order for the account to be closed. I tried. Got an error message. Tried again. Error message. The system would not let me move the money (and it was a tidy sum of interest, mind you). I called. The rep said I was trying to move it too soon, and try the next day. Next day: error message (same one). Tried it on the web (not the app). Same error message. Called again. The rep said there's a problem with their system and that they have to mail the check, that it would take up to three weeks. WOW. No wonder their rating is so low. It all makes sense now. Mind you: never had an issue putting the money IN. The app never failed to do THAT. Only when I tried closing the account.

I would easily give zero stars if that was an option. If you ever want access to your money DO NOT open an “open” bank account. I have been stuck now for two weeks trying to get my money for a house closing. They don’t allow you to wire money out and every day there’s a different reason why my money has not been sent. Endless loop of 2-3 business day review period with no hope or resolution in sight. AVOID at all costs

UPDATE: filed complaints with FDIC, BBB and CFPB I chose this bank due to its high rate on a savings account. After about a year all of a sudden I was not able to log into my account. The platform works on push notifications that my phone was not receiving. After a 30 min. call with a cust service rep trying to trouble shoot they supposedly elevated the call and told me a tech support person would call me in 72 hrs. The next morning I called again and went though the same conversation with a different person wasting another 30 min, Good thing I called in because the 1st person I spoke with never put the tech ticket in. A after a few more days I received a call, the person left a voice mail just literally saying " this is .......from OpenBank by Santander trying to reach you, please call us at .......). The did not say that they were a tech support person and proceeded to give me the SAME NUNBER I had been calling NOT a different one where I could reach a tech person. Later I found out that if a tech support person is assigned to call you that you have to pick it up because there is no way to call them back. UNBELIEVABLE, I work full time this is not an option for me to be staring at my phone 24/7. At this point I am so worried, upset and angry that I literally can not access my account. I am completely locked out and no one can help me. So I call again...... Same conversation where the agent try's to do basic trouble shooting, I just stopped them and said that I am done with this, I have at this point already spent over an hour doing the same trouble shooting and requested to speak to a manager. After a very long hold they transferred me to a so called manager. I am not convinced this person was actually a manager. She then proceeded for the FOURTH time to try the basic trouble shooting. I told her STOP---I want close my account immediately and get my money out. She initiates the closure and tells me that it takes 2 days to close and account and a few more to send out a check. A CHECK? Are you kidding me? How archaic. I expressed my concerns with where the check would go since I recently moved. SHE COULD NOT VERIFY TO WHAT ADRESS THEY WOULD BE SENDING IT TO. Unbelievable. At this point I am so livid I dont care-just send it and I will figure it out. I asked her to call me with the tracking number OR updates. She did not. I called today (2/12Thursday) to get an update and they told me they are still closing my account! It was supposed to be closed Monday! And that the check would hopefully be sent out soon **whatever that means. Now I have a UPS tracking number from 2/13 and the status still just shows "label created"............its Tuesday the 17th and the status its STILL THE SAME..............I have called in every day and every person I get is incompetent. I have NO idea if I will ever get my money back. I am starting to get scared. I asked if they would send me statements and they said they can not. This is illegal. I can not believe these practices are legal. Every phone call along the way has been unhelpful and unprofessional. I am moving my money to a competitor with a lower rate of return ! Junk show!

I am writing to file a formal complaint ( only one way was adding here and open bank do not have an email id for complaint registration ) regarding the handling of my blocked account and the unacceptable customer service I received on February 7, 2026. At 8:32 AM CST, I contacted customer service because my account was showing as blocked. The first representative I spoke with was professional, patient, and genuinely attempted to help. Unfortunately, she was unable to authenticate me due to the system allowing only two push notifications. She advised me to transfer funds into my Open Bank account to remove the blocked status. Although this was inconvenient, I appreciated her effort and ended the call to attempt the transfer. However, the Open Bank app would not allow me to transfer funds, showing an error each time. Since Open Bank has no physical branches outside Miami, phone support is the only option available to customers. I therefore called again at 9:06 AM CST. The second representative I reached was the complete opposite of the first. She was rude, dismissive, unprofessional, and unwilling to listen. I explained that the Open Bank app was not allowing me to transfer funds. Instead of helping, she repeatedly told me to contact my other bank (Bank of America) and ask them how to transfer money to Open Bank. When I explained that I had already attempted this through the BOA app and encountered issues, she showed no interest in understanding the problem or offering a solution. Her attitude made it clear she had no intention of assisting me. When I expressed my frustration and mentioned that this experience made me consider closing my account, she responded with indifference and even seemed agreeable to the idea. This is an alarming response from someone representing a financial institution responsible for safeguarding customer funds. For reference, the calls were made from 21*-***‑0317, and I request that management review the recordings. The first agent deserves recognition for her professionalism. The second agent’s conduct, however, raises serious concerns about training, accountability, and the overall reliability of Open Bank’s customer support—especially given that customers have no physical branch to turn to when online systems fail. This experience has severely damaged my trust in Open Bank. A bank that operates primarily online must have strong, competent, and supportive customer service. Instead, I was left stressed, unsupported, and unable to resolve an issue that your own system created. I expect this matter to be reviewed, and I request a response outlining how Open Bank plans to address both the account access issue and the unacceptable customer service I received.

Openbank is terrible. All they’ve done is continuously lower my apy everytime I add money to accnt. What a sorry excuse for a bank.

I’ve had similar results as others. They took a full 3 days to credit my account with my initial deposit. During that time I tried unsuccessfully multiple times to add a joint owner; each attempt failed with no explanation. Customer service said they couldn’t add the joint owner themselves and that I had to do it myself. I asked them to close the account; again I have to do it myself. Tried to transfer my money out to zero the account but no money is “available” for 4-6 days. App doesn’t work, website fails frequently, phone system drops you. Put your money somewhere else.

Online banking nightmare. Funds withdrawn from my account immediately, not available for five full days. Was told it's "company policy." How convenient for them. Tried to close immediately and there's another 7-day hold before funds can be withdrawn. YOU HAVE BEEN WARNED. (Oh, and the interface is supremely annoying. Not just loggint in, but every single transactiton requires confirmation on a separate device. Can't wait to close this hot mess.

This company is the Worst.. I had some money after a real estate transaction. Wanted it to go into a high yield account. Deposited $5k from my credit union to get the account stared. once established tried to transfer another $100K and that is when it all turned. For the next 4 months my account was locked I called over 10 times and everyone gave a different answer. then I was told to transfer it into a different bank then Try again to transfer it to open bank. The credit union is the only bank I have had for the last 20 years!! I could not wait to get away from them. I often felt like I was doing something wrong. Closed this account and started over with EverBank (same concept as OpenBank) they have been great all my money is there and making me money.